Categories: Crypto Review

Bit-comment: Bitcoin gently slides after the jump

Bitcoin traded above $8100 on Thursday morning, gently sliding down after a jump overnight. On Wednesday, BTCUSD rose above $8200 but did not manage to develop its growth. It is also worth noting that yesterday’s jump up was accompanied by a slight increase in trade volumes, which is a signal of the predominance of positive sentiment on the markets.

Simply put, the majority of market participants choose the moment to buy. However, caution still there in the crypto market. Following the breakthrough, we saw cautious profit taking. It occurs at lower volumes, so it is unlikely to be feared that the whales withdraw capital to fiat currencies under the guise of a rally. Among the important levels for bulls is worth noting $8500 levels, where we saw increased the sale at the beginning of the month. The signal line for bears is the area near $7500, the support area of last week. Breakthrough beyond these levels can spur the movement of the crypto market in the direction of the move.

The FxPro Analyst Team

The FxPro Analyst Team

Our team consists of financial market experts. Our dedicated professionals prepare reviews on the foreign exchange market situation, Crude Oil, Gold and Stock Indices. All the analysts are regularly published in the world leading economic media.

Share
Published by
The FxPro Analyst Team
Tags: Bitcoin

Recent Posts

EURCHF Wave Analysis 20 December 2024

- EURCHF falling inside minor impulse wave 5 - Likely to fall to support level…

2 days ago

USDCHF Wave Analysis 20 December 2024

- USDCHF reversed from resistance zone - Likely to fall to support level 0.8860 USDCHF…

2 days ago

The US dollar ends the year on a strong note

The US dollar is at two-year highs. Factors such as changes in the Fed's monetary…

2 days ago

How deep will crypto dive?

The crypto market is experiencing a decline, with a potential further drop in value. Bitcoin…

3 days ago

EURGBP Wave Analysis 19 December 2024

- EURGBP reversed from support zone - Likely to rise to resistance level 0.8300 EURGBP…

3 days ago

EURJPY Wave Analysis 19 December 2024

- EURJPY broke resistance zone - Likely to rise to resistance level 165.00 EURJPY currency…

3 days ago

This website uses cookies