Bitcoin Loses Momentum, Why $40k Is A Key Level For Future Gains

Per NewsBTC - fa 2 anys - Temps de lectura: 3 minuts
Divendres, 14 de gener de 2022 6:00

Bitcoin Loses Momentum, Why $40k Is A Key Level For Future Gains

Bitcoin has been rejected near the $44,000 price and has been moving sideways since earlier this week. The benchmark crypto could make another attempt to break this resistance levels but will most likely remain range bound until $50,000 and $53,000 are reclaim.

Lectura relacionada | Bitcoin Aims For $48K? BTC Reacts Upward To U.S. Inflation Report

A l'hora de la premsa, Bitcoin trades at $42,341 with a 3.5% loss in the past day.

BTC’s price has performed positively after the U.S. Consumer Price Index (CPI) print, a metric used to measure inflation. Before the report came out, the order book for Bitcoin was clear and has been re-arranging during the week forming new levels of support near $38,000 and $40,000.

Les dades dels indicadors de materials mostren un grup important d'ordres d'oferta per sota dels nivells actuals de preus de BTC que suggereixen, almenys a curt termini, que els alcistes continuaran defensant la marca del preu dels 40,000 dòlars. Com es veu a continuació, hi ha més de 20 milions de dòlars en comandes d'oferta al voltant d'aquests nivells.

In that sense, analyst firm Jarvis Labs believes Bitcoin could see some weeks of relief and less selling pressure. This is supported by a bullish divergence in their 30-Day Returns for Bitcoin, as seen below whenever this metric returns to the 0% in that threshold BTC trends to the upside.

The bounce has been driven mainly by retails investors, according to the firm, as measure by Bitcoin’s Accumulation Trends for the past month. Jarvis Labs added the following:

Les puntuacions de la tendència d'acumulació en 30D mostren que el comerç minorista té confiança en acumular-se als fons, mentre que les balenes són més reticents a fer-ho. Les puntuacions en 7D indiquen el mateix comportament en contrast amb la divergència que vam veure al desembre.

Two of Jarvis Labs’ metrics remain in the red, specifically those related to the amount of Bitcoin coins on the move and the amount of BTC compared with the amount of stablecoins in the market. This suggest some investors are selling at a loss and others are taking profits as the price reached $44,000.

A més, Jarvis Labs va poder determinar que els titulars a llarg termini no s'han vist commocionats per l'acció baixista dels preus. Els titulars a curt termini han baixat el seu preu mitjà o realitzat de 53,000 dòlars a 50,900 dòlars, cosa que no suposa cap amenaça immediata per a un rebot d'alleujament, però, com va dir l'empresa, contribuirà amb correccions futures.

Takeaways (3): – Oculus drop alerts for BTC (43900) and ETH (3370) levels will likely lead BTC to consolidation before rising to 46-48k resistance levels. – Q1 rally would be a profit-taking period for most investors, as many VC unlocks and Fed activities are to come in Q2.

— JarvisLabs (@Jarvis_Labs_LLC) January 13, 2022

As NewsBTC reported, Jarvis Labs has been waiting for some impact on the derivatives sectors in order for BTC to trend higher. That time seems to be here with negative funding for futures contracts on exchanges Binance, FTX, and most crypto platforms.

Related Reading | TA: Bitcoin Bounces To $42K, Why BTC Could Recover To $43.5K

Si aquesta mètrica continua movent-se en territori negatiu a mesura que els preus tendeixen a l'alça, podria suggerir un repunt més sostenible. En aquest sentit, Jarvis Labs va afegir el següent sobre l'Open Interest (OI), el nombre total de contractes negociats entre borses i el seu impacte en el preu de BTC:

El canvi d'interès obert/cap de mercat s'ha anat augmentant per igualar els màxims d'estiu del 2021. A mesura que el preu comença a pujar ara, aquesta mètrica comença a baixar, cosa que indica que és possible una nova restricció curta.

Font original: NewsBTC