Bitcoin repeats key bear market move as $19K becomes key BTC price zone
Investor cost basis is an important focus for ARK Invest, part of an ongoing "tug-of-war" in the 2022 Bitcoin bear market. Bitcoin (BTC) holding $19,000 could be more important than traders realize, new data reveals.In the latest edition of its monthly report series, “The Bitcoin Monthly,” investment management firm ARK Invest flagged an ongoing battle for the defense of Bitcoin’s investor cost basis.Bitcoin investor cost basis buoys marketBitcoin price action is currently characterized by volatile moves within a clearly defined range only around $4,000 across.Having held since June, this....
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Bitcoin price continues trading sideways as the market ponders its next move. If price action repeats the corrective price pattern circled in magenta, we may see the next wave down in the coming days. There is an annual pivot level at the level annotated in orange. Price may pause at this previous low, and even bounce higher in a more complex correction, so the xbt.social trade recommendation that will be issued later today will only be for a half size position. The position can then be increased as decline continues below this strong support zone.
Did Bitcoin bottom? The weekend crypto rally has extended into the start of a new week, leading traders to question whether the bottom is in. Bitcoin (BTC) rose above $22,000 and Ether (ETH) traded above $1,500 on July 18, indicating that bulls are gradually returning to the cryptocurrency markets. This pushed the total crypto market capitalization above $1 trillion for the first time since June 13, raising hopes that the worst of the bear market may be behind us.In another positive sign, more than 80% of the total Bitcoin supply denominated in the United States dollar has been dormant for....
A strong sense of deja vu is palpable from comparing Bitcoin's last bear market to this one, Stockmoney Lizards suggests. Bitcoin (BTC) is delivering striking similarities to its last bear market but the recent bottom may be its last, research says.In a tweet on Oct. 31, popular trading account Stockmoney Lizards furthered the bull case for BTC/USD.Bitcoin "repeats itself" in 2022The past few days have seen talk of Bitcoin encountering a “double top” with two spikes over $21,000. The implication is bearish — declining volume suggests that bulls will not be able to flip the level to....