ICOCalendar.Today

  • ICO Directory đź“–
  • ICT Token 🔥
  • Blockchain News đź—ž
    • Ethereum
    • Binance
    • Cryptocurrency
    • Litecoin
    • Monero
    • Ethereum Classic
    • Bitcoin
    • Tezos
    • Tron
    • Cardano
    • EOS
    • Algorand
    • ZCash
    • Dash
    • Chainlink
    • NEO
    • Maker
    • DeFi
  • List a project đź’Ł
  • Submit Press Release 👍
  • ICO Directory đź“–
  • ICT Token 🔥
  • Blockchain News đź—ž
    • Ethereum
    • Binance
    • Cryptocurrency
    • Litecoin
    • Monero
    • Ethereum Classic
    • Bitcoin
    • Tezos
    • Tron
    • Cardano
    • EOS
    • Algorand
    • ZCash
    • Dash
    • Chainlink
    • NEO
    • Maker
    • DeFi
  • List a project đź’Ł
  • Submit Press Release 👍

Bitcoin Losing This Key Level Could Spark a Massive Panic-Induced Selloff

3/1/2020

Comments

 
Bitcoin’s intense downtrend seen over the past several days and weeks has left it in a precarious position, with BTC’s bulls struggling to hold the crypto above a key support level that could spark intense losses. One top trader is now noting that a dip below this key level could spark a notable selloff that sparks panic amongst investors. This panic-induced selloff could be avoided, however, if bulls are able to propel the benchmark cryptocurrency past a key resistance level that it has been caught firmly below for the past several days. Bitcoin Struggles to Garner Support as Bears Build Strength  At the time of writing, Bitcoin is trading down just under 1% at its current price of $8,575, which marks a slight decline from daily highs of $8,800. It now appears that the cryptocurrency is entering a firm bout of sideways trading around its current price levels, with BTC struggling to garner enough momentum to break above its recent highs of $8,800, which appears to have become a level of resistance for the cryptocurrency. Cred, a popular cryptocurrency analyst on Twitter, explained in a recent tweet that as long as BTC remains below $8,700, he will be bear-biased and will look for further near-term downside. “BTC Update: D1 closed lost support (blue) & finding resistance at the level. No good evidence that W1 support ($8700s) is going to do its job ATM. Intraday bias is bearish into the W1 close, invalidation would be D1 & W1 back above $8750 (i.e. current PA would be a deviation),” he noted. $BTC Update D1 closed lost support (blue) & finding resistance at the level. No good evidence that W1 support ($8700s) is going to do its job ATM. Intraday bias is bearish into the W1 close, invalidation would be D1 & W1 back above $8750 (i.e. current PA would be a deviation). pic.twitter.com/y5bdbrMv4D — Cred (@CryptoCred) March 1, 2020 BTC Investors Could “Panic” if it Breaks Below This Level  Cred isn’t the only one who is currently holding a bear-bias, as SalsaTekila – a prominent pseudonymous trader – explained in a recent tweet that he believes BTC could see a massive selloff if it breaks below its Friday lows of roughly $8,500. “Currently short BTC: I believe if we lose Friday low we’ll see panicking and a CME down-gap. Monitoring closely for now,” he explained. If these lows are lost, BTC does appear to have some significant support around $7,700, which means that this is where it could plummet to before its capitulatory selloff slows. How Bitcoin closes its weekly candle in the coming few hours should offer significant insight into where the markets are likely to trend in the weeks and months ahead. Featured image from Shutterstock.

Via https://www.newsbtc.com/2020/03/01/bitcoin-losing-this-key-level-could-spark-a-massive-panic-induced-selloff/
Comments

    Blockchain News

    Leading global blockchain news provider. A blockchain, originally block chain, is a growing list of records, called blocks, that are linked using cryptography.
    BLOCKCHAIN NEWS

    Archives

    November 2020
    October 2020
    September 2020
    August 2020
    July 2020
    June 2020
    May 2020
    April 2020
    March 2020
    February 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    August 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    November 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    February 2018
    January 2018
    December 2017
    November 2017
    October 2017
    September 2017
    August 2017
    July 2017

    RSS Feed

​About

  • About us​
  • ICT Token
  • News​​
  • Testimonies
  • Terms of Service​​
  • ​​We on Google News​ 🤑
  • ​We in the media
  • ​Partners

Let's connect!

News Feeds

  • Blockchain News
  • Jobs Board 👨‍🎓
  • Bitcoin News
  • Ethereum News
  • Binance News
  • ​Tron News
  • Cardano News
  • EOS News
  • Tezos News
  • Stock Markets
  • COVID-19 News
  • Crypto News
  • Chainlink News
  • Litecoin News
  • Dash News
  • Monero News
  • ETC News
  • NEO News
  • Maker News
  • DeFi News
  • ZCash News
  • Algorand News
© 2017-2020 ICOCalendar.Today. All Rights Reserved.