That of course is a large, round, psychologically significant figure that a lot of people will be paying close attention to, so it does not surprise me at all that we have seen a bit of a follow-through. Now that we have broken through that level, it looks like the $36,000 level is going to be tested, which has been an area of significant support recently. If we breakdown through there, then the market is likely to go looking towards the $30,000 level after that.
Right now, there are far too many problems around the world to think that the Bitcoin market is going to suddenly take offWhile I know the whole idea of Bitcoin is to stay out of the system, the reality is that is no longer true. In order to use Bitcoin, you have to have an offramp into the fiat world 99.9% of the time. You simply cannot spend Bitcoin very easily, so it has now become a trading vessel.
If we can turn around and recapture the $40,000 level, we probably have a good shot at recovering towards the 50 day EMA. However, I think it is much more likely we break down from here as there are far too many variables out there working against Bitcoin . The Federal Reserve tightening monetary policy also takes a lot of risk out of the market, so there is so much out there working against the value of Bitcoin right now that I just do not know how things change anytime soon.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin inches past $38K as Wall Street opens to strange calm on Russia sanctionsUnexpected calmness reigns in a market without big moves after the latest events in Eastern Europe, while BTC reached back $38K.
Source: Cointelegraph - 🏆 562. / 51 Read more »
‘Coin days destroyed’ spike hinting at BTC price bottom? 5 things to watch in Bitcoin this weekThe rollercoaster isn’t over. The latest geopolitical events, the US inflation, and other macro factors shook up the BTC/USD, leading to five potential scenarios that could influence price action in the coming days. cheap..low gas fee HODL cryptocurrecy 🚀BlocVault Launch🚀 8pm GMT 22/2/2022 ✅Join the blocvault meme contest that runs till launch $$ prizes ✅ Doxxed team/register company ✅Are you ready to start vesting with the markets highest APY tomorrow? Get ready! BlocVault WeAreBlocVault This is quite common for those who trade crypto
Source: Cointelegraph - 🏆 562. / 51 Read more »
Bitcoin network activity down 30% from highs as ‘tepid’ demand mimics mid-2019Are bulls losing their grip over the market? Bitcoin is now seeing 'tepid' demand just three months after hitting its latest all-time high, according to on-chain analytics firm Glassnode. (Reporting via WilliamSuberg)
Source: Cointelegraph - 🏆 562. / 51 Read more »
Top 5 cryptocurrencies to watch this week: BTC, LEO, MANA, KLAY, XTZBitcoin continues to lose ground, but if the $40,000 level is reclaimed, LEO, MANA, KLAY, and XTZ could be the first to recover. Here are five things to consider as we start the new week:
Source: Cointelegraph - 🏆 562. / 51 Read more »
Bitcoin Dips Near $37K, Here's a Long-Term Positive Sign per IntoTheBlock: DetailsBTC declines to $37K, but here's another long-term positive sign for Bitcoin: IntoTheBlock data Crypto SHIBA 🚀❤💙🚀shibaswap 🚀🚀shibainu 💙💙leash ❤❤shibabone 🚀🌺 shibacoin 🚀🚀🚀🚀 Oshiverse 🚀 shibarmy❤🚀🚀❤ Shibarium 🚀🚀🚀 shib ❤🚀🚀 shibarmystrong 🚀🚀❤ bone 🍖🍖 Shiba shibainu❤️❤️❤️❤️❤️🚀🚀🚀🚀🚀
Source: Utoday_en - 🏆 295. / 63 Read more »