Bitcoin's price has posted a slight retracement from its early-week high north of $35,000, wiping out more than $147 million in leveraged positions over the past 24 hours.Following in the same vein as Tuesday's market dynamics, shorts were again hit hardest, with almost $80 million positions liquidated compared to just over $68 million in long positions. The...
Bitcoin's price sustained its rally into a second week on Monday, with the digital asset rising 14.5% in the past 24 hours to break through the $34,000 mark for the first time since May, 2022.Gains Monday evening came as BlackRock's highly anticipated spot bitcoin ETF, the iShares Bitcoin Trust, made an appearance on a list maintained by the Depository Trust and...
A tight consolidation near the support of a range is a bearish sign, as it shows a lack of aggressive buying by the bulls. The downsloping 20-day exponential moving average (EMA) at $27,463 and the relative strength index (RSI) in the oversold territory indicate that bears are in command.If the price plummets below $24,800, it could hit the stops of several...
BTC is currently forming a new bottom around 💲26,000, and it is unclear whether this oscillation will continue as it did near 💲30,000. What we need to focus on now is whether the Federal Reserve will pause its interest rate hikes, which is an important indicator for market liquidity. The current support level for BTC is 💲25,800, and the resistance level is...
There are no prizes for guessing how Bitcoin ended its latest weekly candle.Despite holding $26,000 into the close, BTC/USD immediately went downhill after that, wicking to $25,880 before consolidating slightly higher, data from TradingView shows.The current market liquidity issue has not been resolved yet, and with September approaching, it is expected that...
The July CPI data is similar to market expectations, and this has only brought about a fluctuation of around $200 for BTC. The market liquidity is extremely low, causing BTC to fall below the MA30 moving average once again. This may lead to a new round of downward movement. The only thing that can change the market direction at the moment is the approval of BTC...
The expected pullback in the midst of an upward trend has materialized as anticipated. BTC is poised for a strong battle around the MA30 moving average line. The US non-seasonally adjusted CPI annual rate in July may potentially bring greater volatility to the subdued market. As for other factors, they currently have minimal impact on BTC. It is advised to focus...
After a long period of minor fluctuations, BTC has chosen to break out to the upside, successfully surpassing the MA30 moving average. Currently, it is important to observe whether it can hold above the MA30, as this would favor a sustained bullish trend. If it can maintain this level, there is a possibility of reaching 💲31,000. However, if a false breakout...
Data shows that long-term holders of BTC are gradually increasing, while the short-term turnover rate continues to decline. Currently, the price is relatively stable within a range, but the overall market is in a state of stagnation. Immediate rebounds after declines are becoming the norm, which is not a good market performance. Frequent false breakouts will...
The cryptocurrency trading volume continues to shrink every weekend, and currently, there is no sign of improvement. The low trading volume also makes it difficult for BTC to establish a sustained trend. However, this situation will not last forever. Currently, there is a significant accumulation of chips in the price range around 💲29,000, and it is important to...
The price fluctuations of BTC are still within a very narrow range. The long-lasting oscillating trend has allowed BTC to accumulate a significant amount of stock at current price levels. Each time there is a high stock level, there is often intense speculation between bulls and bears. It is necessary to pay attention to valid breakthroughs and breakdowns of price...
The stimulating news yesterday caused a brief rally in BTC, but it does not fundamentally change the current market conditions. The entire market is currently experiencing a lack of liquidity, so it is not surprising to see BTC return to around $29,000. It is important to note that there is renewed FUD surrounding Binance in the market, and such negative news can...
Following the news of Tether's announcement of acquiring 2,310 Bitcoins in the second quarter and MicroStrategy's plan to raise $750 million through the sale of stocks to purchase Bitcoin, BTC experienced a violent rebound after dropping to $28,500. Whether this rebound can change the downward trend of BTC remains to be seen, as it depends on whether the trading...
BTC has been experiencing extremely low trading volume throughout the day, and currently, its resistance and support levels are quite clear. As time accumulates, any one-sided market movement will become more rapid and direct. The prices to pay close attention to are 29,000 and 30,000, as a breakthrough and consolidation at these levels would be suitable for...
The strength of Bitcoin still hinges on the approval of a spot ETF, which could influence the flow of significant external funds. Two key levels to watch are the upper resistance at $30,000 and lower support around $28,500. If Bitcoin consolidates above the resistance level with significant volume, the outlook could be favorable. Conversely, a substantial break...
BTC experienced a recent decline from around $30,500 to the $28,900 level, followed by a period of temporary consolidation. The current resistance for Bitcoin stands at $30,100, while the support level is around $28,500. Overall, BTC seems to be displaying a weaker sentiment, with limited strength in its rebounds.
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BTC experienced a slight short-term rebound, but the momentum was limited as it failed to surpass the $29,850 resistance. The focus remains on the $28,500 support level. Despite the impact of interest rates, BTC did not undergo a significant pullback, with the short-term structure finding support at lower levels, and previous bearish trends did not break...
BingX’s Bitcoin Chart
Yesterday, BTC traded sideways around $29,000 for the entire day. Looking at the daily technical indicators, the KDJ formed a death cross, with all three lines turning downwards. The MACD indicator showed continued bearish movement with increased volume in the decline. BTC's rebound strength suggests the presence of significant resistance...
