Crypto starts week Positive, Bitcoin Bulls Prep For A Breakout

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Dydd Llun, 23 Mai, 2022 11:12 PM

Crypto starts week Positive, Bitcoin Bulls Prep For A Breakout

On Monday, the cryptocurrency and Bitcoin market turned positive, attempting to break out of its current downturn, with market capitalization rising 1.5% to $1.37 trillion. The largest cryptocurrency, Bitcoin , reached $30,554, up 1.2%.

Mae adroddiadau Bitcoin price’s downhill movement is becoming increasingly apparent. A rally towards $33,700 is possible.

For nearly two weeks, the Bitcoin price Fear and Greed indicator has been at high fear levels. Because more investors are afraid to invest in the present BTC price, this Index can be utilized as a contrarian positive indicator, allowing smart money to accumulate huge orders.

Ar y siart 6 awr, mae'r hyn a ystyriwyd yn flaenorol yn farchnad ddryslyd i'r ochr bellach yn dod i mewn i batrwm bullish iawn, sy'n dangos cyfranogiad arian clyfar.

Mae pris bitcoin is creating a sideways triangle. From an Elliott wave standpoint, the lengthy sideways action justifies a wave B pattern. Since the initial countertrend rally on May 13th around $31,200, it has spent disproportionate time in the $30,000 zone. If the technicals hold, another countertrend profit-taking rise with targets of $33,700 and $34,000 will occur before significant bearish resistance returns.

Mae toriad o dan don A ar $28,630 yn annilysu'r rhagosodiad bullish. Os bydd yr eirth yn llwyddo i dorri trwy'r rhwystr hwn, efallai y bydd y targed nesaf yn $23,500, gostyngiad o 20% o bris cyfredol BTC.

Cynorthwyodd amodau macro-economaidd yr Unol Daleithiau gynnydd marchnadoedd crypto ar Fai 23. Cyhoeddodd yr Arlywydd Joe Biden fwriadau i leihau tariffau masnach â Tsieina cyn i'r farchnad agor, gan hybu hyder buddsoddwyr.

Related Reading | Eight Consecutive Red Closes: Is Bitcoin Yn anelu am adferiad?

Bitcoin’s network difficulty is expected to decrease by 3.3 percent during its next automated readjustment this week, according to the latest projections. The drop will be the biggest since July 2021, and it’s apparent that Bitcoin’s slump has put miners’ profits in jeopardy.

Er gwaethaf y ffaith bod symudiadau eu waledi i gyfnewidfeydd wedi cyrraedd isafbwynt o 30 diwrnod ar Fai 23, yn ôl platfform monitro ar-gadwyn Glassnode, nid yw glowyr yn dangos arwyddion o gapitulation.

At the start of a new trading week, bitcoin miner stocks were up and down in equal measure.

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