Bitcoin bulls should be able to defend $28,000, a trader says as BTC price weakness persists.
earlier in the day, the short-term 100-day SMA is currently being tested as support as part of the Aug. 17 daily candle.As a psychological foundation, meanwhile, $28,000 remains firmly intact in the eyes of the market.For popular trader CryptoCon, there remains little need to worry over a significant crash any lower, and other “bullish supports” should hold out against bears, as well.
“Bitcoin drops a whopping 700 dollars and bears are euphoric. Meanwhile, healthy bullish supports are completely intact,” part of an X post on the day stated.BTC/USD annotated chart. Source: CryptoCon/Twitter CryptoCon built on an existing comparison to BTC price in 2015-2016, when the market was preparing the ground for a bull run to its last cycle’s $20,000 peak.
I wasn't there, but I'm sure every sideways grind and drop to the 111DMA on the Pi-Cycle Top during 2015-16 felt like the end.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin & Ethereum Hold Ground Ahead of US CPI: BTC/USD & ETH/USD Price SetupsRealized volatility may have fallen recently in Bitcoin and Ethereum but it hasn’t altered the broader trend. What is the outlook and the key levels to watch in BTC/USD and ETH/USD?
Read more »
Bitcoin Price Latest: BTC/USD Remains Lifeless But Has it Found a Bottom?Aside from the odd altcoin pump and dump the cryptocurrency market is lifeless with a lack of volatility hampering traders.
Read more »
Bitcoin (BTC) Price Prediction & Forecast for 2023-2026Binance cryptocurrency exchange - We operate the worlds biggest bitcoin exchange and altcoin crypto exchange in the world by volume
Read more »
Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Low liquidity exposes BTC and crypto markets to manipulationBitcoin (BTC) price has broken from consolidation, sliding south as cryptocurrency market players decry a shrinking volatility. The same goes for Ethe
Read more »
Investing.com Starts Broadcasting Latest Bitcoin (BTC), Ethereum (ETH) News from U.TodayU.Today is almost only cryptocurrency website to be broadcasted by Investing.com heavyweight
Read more »
Bitcoin and US stock market correlation shoots up: Is BTC at Fed’s mercy again?Bitcoin (BTC) price action remains boring, but certain elements that directly or indirectly affect it are changing slowly. Previous publications have
Read more »