Bitcoin / TetherUSSatış
#Bitcoin Upside Momentum Fades, BTC Remains in a $2k Range
Past Performance of Bitcoin
Bitcoin prices are lower at spot rates, dropping two percent in the last 24 hours. Even though traders are determined, expecting the coin to recover after sharp losses, the path of least resistance is nevertheless southwards. This preview has been cemented following the losses of December 7 and the failure of buyers to reclaim 17.5k.
#Bitcoin Technical Analysis
Overall, Bitcoin is under pressure from a top-down preview. Year-to-date, BTC is down over 70 percent. At the current pace, the coin could post even more losses in the days ahead. It is regardless of bulls breaking higher above the bear flag in late November. Thus far, the immediate support is at 16.5k. As BTC prices consolidate inside a tight range, forming a flag, conservative traders can wait for a clean price direction. A break above 17.5k may see Bitcoin lift off in a welcomed recovery. However, sellers can unload at spot rates, targeting a retest of 16.5k and later 15.5k in a bear continuation pattern.
What to Expect from #BTC?
BTC buyers are struggling. There are lower lows versus the upper BB as momentum tapers, favoring sellers. The bear breakout of December 7 is pressing BTC even lower, increasing the odds of further losses in the short to medium term. With clear limits at 17.5k, bears have the upper hand.
Resistance level to watch out for: 17.5k
Support level to watch out for: 16.5k
Disclaimer: Opinions expressed are not investment advice. Do your research.
Bitcoin prices are lower at spot rates, dropping two percent in the last 24 hours. Even though traders are determined, expecting the coin to recover after sharp losses, the path of least resistance is nevertheless southwards. This preview has been cemented following the losses of December 7 and the failure of buyers to reclaim 17.5k.
#Bitcoin Technical Analysis
Overall, Bitcoin is under pressure from a top-down preview. Year-to-date, BTC is down over 70 percent. At the current pace, the coin could post even more losses in the days ahead. It is regardless of bulls breaking higher above the bear flag in late November. Thus far, the immediate support is at 16.5k. As BTC prices consolidate inside a tight range, forming a flag, conservative traders can wait for a clean price direction. A break above 17.5k may see Bitcoin lift off in a welcomed recovery. However, sellers can unload at spot rates, targeting a retest of 16.5k and later 15.5k in a bear continuation pattern.
What to Expect from #BTC?
BTC buyers are struggling. There are lower lows versus the upper BB as momentum tapers, favoring sellers. The bear breakout of December 7 is pressing BTC even lower, increasing the odds of further losses in the short to medium term. With clear limits at 17.5k, bears have the upper hand.
Resistance level to watch out for: 17.5k
Support level to watch out for: 16.5k
Disclaimer: Opinions expressed are not investment advice. Do your research.
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