Crypto starts week Positive, Bitcoin Bulls Prep For A Breakout

Af NewsBTC - 1 år siden - Læsetid: 2 minutter

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%.

Bitcoin Price Sheds Gains

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

I næsten to uger har 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.

På 6-timers diagrammet ruller det, der tidligere blev anset for at være et forvirrende sidelæns marked, nu ind i et meget bullish mønster, hvilket indikerer involvering af smarte penge.

Prisen på 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.

Et brud under bølge A på $28,630 ugyldiggør den bullish præmis. Hvis det lykkes bjørnene at bryde igennem denne barriere, kan det næste mål være $23,500, et fald på 20% fra den nuværende BTC-pris.

USA's makroøkonomiske forhold hjalp med stigningen af ​​kryptomarkeder den 23. maj. Præsident Joe Biden annoncerede intentioner om at reducere handelstariffer med Kina, før markedet åbnede, hvilket styrkede investorernes tillid.

Related Reading | Eight Consecutive Red Closes: Is Bitcoin På vej mod en bedring?

Minearbejdernes aktier op og ned

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.

På trods af det faktum, at deres tegnebøgers bevægelser til børser nåede et lavpunkt i 30 dage den 23. maj, ifølge on-chain overvågningsplatformen Glassnode, viser minearbejdere ikke tegn på kapitulation.

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

Relateret læsning | Lange likvidationer fortsætter til Rock Market As Bitcoin Kæmper for at bosætte sig over $30,000

Udvalgt billede fra Unsplash, diagram fra TradingView.com

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