Bitcoin Nears $80,000: Two Scenarios That May Decide Q2—Bulls Or Bears?
Bitcoin (BTC) is approaching a critical juncture as it presses against its nearest resistance wall at $80,000, which, according to some analysts, if not cleared, may send BTC back below $70,000. What’s happening under the surface is also getting more complicated, with CryptoQuant pointing to a key inflection point where two major groups of marginal buyers are effectively testing their own break-even prices at the same time. Why $80,000 Is The Decision Point In a recent CryptoQuant report, the focus was on exchange-traded fund (ETF) investors and short-term whales—two cohorts that tend to....
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The fortification of Ethereum’s price on a key level can lead to a fall. What are the traders’ current expectations regarding the future development of Ether’s market? ETH/USD. One of the scenarios that we have predicted earlier has come into fruition. Ether’s price is fortifying at a key technical level of $11.5. Most bulls see that mark as the peak of a correction toward the upward trend which has started at $8. That’s why the price has stopped falling and remains near that level. However, the resulting flat indicates that there is a counterforce from the bears. The resulting balance....
Ethereum’s price is stuck between two key resistance lines. Both bears and bulls are having doubts about possible scenarios for the nearest future. ETH/USD. At the moment, the entire situation on Ethereum can be characterized as 100% uncertain. For more than a week the price has been drifting around $13. Such behaviour indicates that neither bears nor bulls can find a possible trend. On the other hand, the lack of bears can be good news. Subsequently, because of that, the price is likely to fortify soon. Ethereum’s price is being traded between two key levels of $14.2 and $11.5. The $14.2....
Ethereum’s price has carried out one of the trend development scenarios. The downward trend continues. What level will prove critical for this trend? Ethereum’s market has picked a downward scenario, discarding the possibility of forming a turn to growth. Despite the price fortifying at a level profitable for the bears, the bulls have failed to hold the advantage, and thus there was no turn to growth. The short-term downward trend will continue, as long as the advantage stays with the bears. The most likely point for a turn to growth is at $10.3, where a lot of trading volume converges.....
Debate surrounding if the Bitcoin bull market is over due to the recent correction is at a full boil, while many are already searching for a bottom of the current downtrend. Bulls must be careful not to jump the gun due to buying the dip working so well over the last several months. Because bears […]
Bitcoin is facing intense selling pressure once again, with bears now eyeing a move below the critical $80,000 support level. After bulls briefly pushed BTC to $87,000, hopes for a sustained recovery were quickly dashed when the price failed to reclaim the key $90,000 resistance. Since then, momentum has shifted sharply in favor of the […]