Crypto starts week Positive, Bitcoin Bulls Prep For A Breakout

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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.

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.

Pada carta 6 jam, apa yang dahulunya dianggap sebagai pasaran sisi yang mengelirukan kini berubah menjadi corak yang sangat menaik, menunjukkan penglibatan wang pintar.

Harga 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.

Pelanggaran di bawah gelombang A pada $28,630 membatalkan premis kenaikan harga. Jika beruang berjaya menembusi halangan ini, sasaran seterusnya mungkin $23,500, penurunan 20% daripada harga BTC semasa.

Keadaan makroekonomi Amerika Syarikat membantu kebangkitan pasaran crypto pada 23 Mei. Presiden Joe Biden mengumumkan hasrat untuk mengurangkan tarif perdagangan dengan China sebelum pasaran dibuka, mengukuhkan keyakinan pelabur.

Related Reading | Eight Consecutive Red Closes: Is Bitcoin Headed For A Recovery?

Saham Penambang Naik Turun

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.

Walaupun hakikat bahawa pergerakan dompet mereka ke bursa mencecah paras terendah 30 hari pada 23 Mei, menurut platform pemantauan rantaian Glassnode, pelombong tidak memaparkan tanda-tanda penyerahan diri.

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

Related Reading | Long Liquidations Continue To Rock Market As Bitcoin Perjuangan Untuk Menyelesaikan Melebihi $30,000

Imej pilihan daripada Unsplash, carta daripada TradingView.com

Sumber asal: NewsBTC