Is the price of Bitcoin trapping buyers? – The influencer law has been validated by the Joint Joint Commission, and this is good news for the cryptocurrency sector. For its part, the Bitcoin price is trying to reprimand itself after a bad start to the week. Is the price giving buyers false hope?
This Bitcoin price analysis is brought to you in collaboration with CryptoTrader and its algorithmic trading solution finally accessible to individuals.
Bitcoin price climbs 1% in 24 hours
The cheaters try to reprimand the principal, but the rise remains timid. Indeed, the course of Bitcoin climbs by1% in 24 hours :
This increase is not enough to make up for the fall experienced yesterday. In addition, in seven days, the price of BTC falls by more than 3%. The BTC/ETH pair be maintained in 24 hoursbut she 2% more kick in seven days.
Is Bitcoin Price In Danger Below $26,800?
The Whalemap site allows you toidentify bitcoin chat location by market operators. When there is a large horizontal bar, the operators have accumulated at this level :
Here, on remark that the operators have I accumulated 291,000 bitcoins for a price of $26,800. Thus, it is a great support for the BTC course. The price is sliding below, and if the buyers do not react, the next level of strong support was found at $23,000 according to Whalemap. On the other hand, in the event of a rebound, the indicator shows a resistance around $28,200. In fact, operators have accumulated more than 413,000 bitcoin at that level, and they might be tempted to I will sell without loss.
Bitcoin Price Needs To React Quickly And Recover Above $26,700
The price is moving below the level of support at $26,700if the buyers do not move quickly, the price could continue to pull towards the next support at $25,000 :
The price hesitates below the support, at the level of the institutional bias (EMA 9/EMA 18) bearish and at the level of the bearish trend. If it is only a deviation, then the price could recover the support at $26,700and head to the resistance at $27,500. The RSI is in the process of confirming the assurance of the support at $26,700with the break of bullish line trend. The RSI must react quickly to prevent sellers from taking advantage of the momentum.
Bitcoin price is bouncing back, but it could be a false bounce. To avoid pulling in the direction of $25,000, price action needs to quickly rebuke the support level at $26,700. The level of support is also identified by chain analysis on the Whalemap site. Can Bitcoin once again react?
Will you decide to trade from some of your cryptocurrencies? through are optimized trading serviceCryptoTrader allows you to maximize your profits in a simple, diversified and fully automated way.
