Bitcoin traders are eyeing these price levels as BTC rebounds from weekend crash
Bitcoin is recovering, and traders are pinpointing $57,000 and $60,300 as the key short-term price levels to watch. The price of Bitcoin (BTC) is recovering after a strong sell-off during the weekend caused by cascading liquidations in the futures market.BTC/USDT 15-minute price chart (Binance). Source: TradingView.comTraders are pinpointing three levels as the critical price areas to watch in the short term: $51,200 as the major support, $60,300 as the important resistance, and $57,000 as the near term area of interest for sellers.It is critical for Bitcoin to reclaim $57,000Although the....
Related News
Bitcoin went into the weekend on a strong note, taking out $11,000 and holding above it. But after the cryptocurrency made an attempt at $11,200 a rejection has the asset’s price back to $10,500 where its now at risk of a steeper correction. Blockchain data shows that the weekend crash could have been driven by […]
Bitcoin had a super-depressive weekend session as traders decided to secure the profits off its Coinbase-led market rally, but all is not lost for the flagship cryptocurrency yet. Bullish traders showed remarkable resistance against the declines in the BTC/USD exchange rates. In retrospect, the weekend crash came as a part of a broader downside correction […]
The price of an ounce of gold dropped dramatically this week, slipping under the $1,700 handle to $1,688 per ounce on August 8. On Monday, gold regained some of the losses jumping 2.36% back above the $1.7K region to $1,727 per ounce of fine gold. Gold’s Volatile Movements This Weekend Blamed on a Number of Elements While bitcoin (BTC) prices are up more than 4% on Monday and over 16% during the last week, the value of gold has been dropping lower in fiat value. On August 6, 2021, the price of gold per ounce was trading for just over $1,800 per unit and slid to $1,688 per unit two....
The price of Bitcoin reclaimed $18,000 but traders remain cautious of a weekend bull trap. The price of Bitcoin (BTC) surged above $18,000 on Nov. 29, reaching as high as $18,209 on Binance. However, traders are turning cautious despite BTC’s weekend rally.Bitcoin currently faces resistance at around $18,200, which is also the 10-day moving average (MA) on the daily chart. As Cointelegraph reported yesterday, some traders still anticipate BTC to see another drop in the near term before the rally can continue.BTC/USDT 4-hour chart (Binance). Source: TradingView.comWhy a bull trap for....
The crypto market has been subject to large liquidation following the price crash. Coming out of the weekend, the market had recorded one of its worst crashes which saw bitcoin fall below the $30,000 territory for the first time this year. With this had come hundreds of millions in short liquidations. However, the bloodbath seems far from over as the market continues to crumble and liquidations have now run over the $1 billion mark. Crypto Traders Getting Rekt After the crash that rocked the market coming out of the weekend, crypto traders had taken a hard hit. However, like always, this....