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

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Ven, 14 de xaneiro de 2022 ás 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.

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Ao momento da publicación, 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.

Os datos de Material Indicators mostran un grupo importante de ordes de oferta por debaixo dos niveis actuais de prezos de BTC que suxiren, polo menos a curto prazo, que os touros seguirán defendendo a marca de prezos de 40,000 20 dólares. Como se ve a continuación, hai máis de XNUMX millóns de dólares en pedidos de ofertas ao redor destes niveis.

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:

As puntuacións da tendencia de acumulación en 30D mostran que a venda polo miúdo confía en acumularse nos fondos mentres que as baleas son máis reacias a facelo. As puntuacións en 7D indican o mesmo comportamento en contraste coa diverxencia que vimos en decembro.

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.

Ademais, Jarvis Labs puido determinar que os titulares a longo prazo non foron sacudidos pola acción dos prezos baixistas. Os titulares a curto prazo baixaron o seu prezo medio ou realizado de 53,000 dólares a 50,900 dólares, o que non supón unha ameaza inmediata para un rebote de alivio, pero como dixo a empresa, contribuirá con correccións futuras.

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.

Lecturas relacionadas | TA: Bitcoin Bounces To $42K, Why BTC Could Recover To $43.5K

Se esta métrica segue a moverse en territorio negativo a medida que os prezos tenden ao alza, podería suxerir un repunte máis sostible. Nese sentido, Jarvis Labs engadiu o seguinte sobre o interese aberto (OI), o número total de contratos negociados en bolsas e o seu impacto no prezo de BTC:

O cambio de interese aberto/cap de mercado foi aumentando para igualar os máximos estivais de 2021. A medida que o prezo comeza a subir agora, esta métrica comeza a baixar, o que indica que é posible unha nova redución curta.

Orixe orixinal: NewsBTC