Over the past 24 hours, the BTC has lost about a per cent and changed hands for $9,200. Bitcoin again shows signs of inability to develop growth, stuck around $9K. Market participants are most concerned about whether this is the beginning of another sideways trend or essential step ahead.
Investors have a very negative attitude to the long sideways trends, as in the crypto market, it often means that the drop-down is approaching. The last time exactly this scenario was played out, but the buyers supported Bitcoin around $7,500.
Meantime, it will be prematurely to call current dynamic disappointing. The BTCUSD price remains above 50 and 200-day averages. Both of these lines were crucial indicators of the trend for the upcoming months. If the price climbed above with the sharp movement, or there was a slowdown near these levels, it attracted additional buyers, forming as a result of upward momentum.
The FxPro Analyst Team
- GBPUSD reversed from strong support level 1.2665 - Likely to rise to resistance level…
- USDCAD broke resistance level 1.3950 - Likely to rise to resistance level 1.4050 USDCAD…
The US dollar has strengthened, reaching the upper boundary of its trading range. The British…
Cryptocurrencies continued to surge, pushing the total cap to $3 trillion. Bitcoin has gained nearly…
- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…
- USDJPY broke key resistance level 154.70 - Likely to rise to resistance level 157.20…
This website uses cookies
