Data suggests traders view $46,000 as Bitcoin’s final line in the sand
BTC and altcoins took a severe hit on Dec. 13, but derivatives data suggests traders are watching $46,000 as a signal of whether the current market structure will hold up. Dec. 13 will likely be remembered as a “bloody Monday” after Bitcoin (BTC) price lost the $47,000 support, and altcoin prices dropped by as much as 25% within a matter of moments. When the move occurred, analysts quickly reasoned that Bitcoin’s 8.5% correction was directly connected to the Federal Open Market Committee (FOMC) meeting, which starts on Dec. 15.Investors are afraid that the Federal Reserve will eventually....
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SAND trades below 50 and 200 EMA on the daily timeframe. Price continues to range with little or no volume despite having strong fundamentals. A break above $1 could trigger a relief rally for SAND price. Sandbox (SAND) price has had a rough time recently as price ranges in a daily timeframe channel against tether (USDT). Despite having good fundamentals with so much backing from top investors and partnerships, the price of Sandbox (SAND) has struggled to replicate its run to a high of $8. (Data from Binance) Related Reading: Dogecoin (DOGE) Is On Top Of Whales’ Menu – Here’s Why Sandbox....
SAND was up by over 15% on Friday, as crypto prices rebounded following sell-offs during Thursday’s trading session. SAND fell to a one-week low yesterday, with MATIC, another notable gainer, dropping to nearly a ten-day low on Thursday. Overall, crypto markets are up 1.30% as of writing.
The Sandbox (SAND)
SAND was one of the most notable movers during today’s trading session, as crypto prices rebounded on Friday.
Following a low of $0.9644 on Thursday, SAND/USD rallied to an intraday peak of $1.17 to start the month of July.
Prices of the....
Traders are accumulating Bitcoin on dips and a break above $11,600 could resume the uptrend to $12,000. Data from Skew shows Bitcoin’s (BTC) spot volume on LMAX Digital, an exchange that mainly caters to institutions, has overtaken retail-oriented exchanges. This signals that institutional investors could be building up positions as they expect the price to move higher in the future.Along with spot purchases, institutional investors’ participation in the derivatives market has also increased. Data from Arcane Research shows that a record number of investors are taking delivery of Bitcoin....
Ethereum price moved down as forecasted to create a new low. It looks like one more push down is possible as long as the trend line resistance holds. Ethereum price ETH continued to struggle and my view of it moving down further paid well. I think it’s time to book profits if you are trading conservative. For aggressive traders, I suggest to move the stop to break even and wait for a final downside thrust. There is a high probability of ETH/USD moving down further, and testing the $8.20-10 support area where buyers may appear. On the upside, yesterday’s highlighted bearish trend line on....
Pro traders and analysts view Bitcoin’s dip below $54,000 as another bullish buy-the-dip opportunity. On March 23 bears managed to push the price of Bitcoin (BTC) below the $54,000 support level as various on-chain data suggests that whale wallets have begun slowing down purchases and are transferring the risk to retail investors. Data from Cointelegraph Markets and TradingView shows that the downtrend that began on March 22 and continued into Tuesday s the price retested the $54,000 support level for the second time this week.BTC/USDT 4-hour chart. Source: TradingViewData from Coinshares....