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 to See a Golden Short Opportunity if it Taps This Level

2/29/2020

Comments

 
Bitcoin’s intense selloff has slowed over the past 24-hours, with bulls garnering some notable buying pressure within the lower-$8,000 region, subsequently leading BTC to enter a short-term bout of consolidation around $8,600. Although bulls have shown some signs of strength during this latest leg down, it is important to keep in mind that its price action over the past week has been bear-favoring, and its deep retrace from its yearly highs seems to suggest its bullish market structure may have been invalidated. Now, top analysts are noting that an incredibly strong resistance level that exists just a hair above BTC’s current price region may be enough to spark a major selloff. Bitcoin Consolidates as Analysts Eye Multiple Key Levels At the time of writing, Bitcoin is trading down nominally at its current price of $8,660, which is around where it has been trading at for the past 24-hours. The cryptocurrency’s ongoing selloff first began last Sunday when it ran to highs of $10,000 before facing a swift rejection at this level, with bull’s inability to recapture its position above this level being a grave sign for the crypto. Analysts are now noting that how BTC responds to this ongoing bout of sideways trading should offer insight into where the markets will trend next. Crypto Micahël, a prominent cryptocurrency analyst on Twitter, explained in a recent tweet that a break below Bitcoin’s current price level could lead it to drop as low as $7,500. “Bitcoin: At this point, remaining fairly unchanged in the perspectives. Holding here and I assume $9,000-9,200 retest is likely. Losing it and I’d be pointing $7,500-7,700,” he noted. $BTC #BITCOIN At this point, remaining fairly unchanged in the perspectives. Holding here and I assume $9,000-9,200 retest is likely. Losing it and I'd be pointing $7,500-7,700. pic.twitter.com/618qSHBQ1h — Crypto Michaël (@CryptoMichNL) February 29, 2020 BTC Could Provide a “Golden” Short Opportunity if it Taps This Level Teddy, another popular cryptocurrency analyst, believes that Bitcoin’s recent price action has firmly invalidated its bullish market structure for the time being, leading him to believe further downside is imminent. He also notes that a movement towards $9,150 could be a “golden” short opportunity for traders, with a rejection at this level sparking intense downside. “BTC: Brutal breakout, supports were annihilated – clear bear bias of price structure. Currently consolidating in a down channel, historically they break upwards – 9150’s rejection will be a golden short opportunity. Retest of previous support as resistance?” #BITCOIN | $BTC Brutal breakout, supports were annihilated – clear bear bias of price structure. Currently consolidating in a down channel, historically they break upwards – 9150's rejection will be a golden short opportunity. __ Retest of previous support as resistance? pic.twitter.com/nHzNAyV9Cj — TEDDY (₿) (@TeddyCleps) February 29, 2020 If Bitcoin fails to garner any upwards momentum, or faces another firm rejection, prior to its weekly close tomorrow, it could mean further downside is inbound. Featured image from Shutterstock.

Via https://www.newsbtc.com/2020/02/29/bitcoin-to-see-a-golden-short-opportunity-if-it-taps-this-level/
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.