Bitcoin [BTC] still holding above April 4 trend line is good for market, $6,800 is the safe zone, says Tim Seymour

2019-5-18 09:04

Bitcoin [BTC]’s rise and fall have been peppered with speculation about the asset’s longevity as a mainstream commodity. This sentiment was washed away when the largest cryptocurrency in the market spiked significantly to break the $8,000 barrier recently. However, towards the end of the week, the market took another hit which saw most of the crypto-assets fall in value.

In the latest segment of CNBC Fast Money, the panelists discussed the coin ‘plunging by 10 percent’ in a night, stirring up the market and pushing sentiment into the negative sector. The discussion further addressed the Bitcoin market’s 8.9 percent drop, with $21 billion being wiped off over the course of a day. The panelists further added:

“It has been a very impressive year for Bitcoin and the rally that followed was a testament to that fact. The 30 percent rally further allowed Bitcoin to break the $8000 barrier, a healthy push for the world’s largest cryptocurrency.”

The discussion also included Tim Seymour of Seymour Investment Management, who is also known as the ‘cannabis king’. Seymour was of the opinion that the ongoing Bitcoin conferences in New York had shifted investor sentiment in the crypto-world’s favor. Seymour continued:

“All the Bitcoin folks, if you look at the charts and follow the trend line since April 4, you can see that the rise has been consistent and even with the recent fall, the price is still higher than that trend line. The hold above the $6800 mark is evident and that corresponded with the 95 9-day RSI for the cryptocurrency, something that is extreme even for Bitcoin.”

The discussion also informed users that the move was important as it gapped up the market. Bitcoin’s price has been gapped only five times over the course of the past year, with the latest price fall closing the last of the gaps, an opportune time, according to the analysts, to buy in.

The post Bitcoin [BTC] still holding above April 4 trend line is good for market, $6,800 is the safe zone, says Tim Seymour appeared first on AMBCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

market bitcoin btc zone tim seymour says

market bitcoin → Результатов: 126


Bitcoin’s Big Week: Election, FOMC Meeting, And Strong Signs Of A Bull Market

As the market faces one of its most volatile weeks—amid the U.S. election and the Federal Open Market Committee (FOMC) meeting—Bitcoin appears primed for a lasting rally. Historically, major bull runs have followed post-election periods, and analysts are optimistic about Bitcoin’s potential, forecasting it could hit $100,000 by year’s end, […]

2024-11-5 08:22


Bitcoin’s (BTC) Bullish Patterns Emerge: Is a Market Super Cycle on the Horizon? Pay Attention to These Metrics

Bitcoin’s trading pattern lately reveals a consistent sideways movement, with fluctuations between $60,000 and $72,000. This trend, as highlighted by top cryptocurrency analyst Doctor Profit via a tweet on X, mirrors historical market behaviors that have typically preceded significant price increases.

2024-4-29 09:30


Ethena’s (ENA) Crucial Role In Bitcoin Bull Market: Expert Identifies Critical Factors For Sustainable Growth

The recent volatility in the Bitcoin (BTC) price and its struggle to consolidate above the $70,000 mark has raised questions about the sustainability of its ongoing bull run. However, market expert Charles Edwards, co-founder of Capriole Invest, believes that the decentralized finance (DeFi) protocol Ethena Labs (ENA) could significantly extend and boost Bitcoin’s bull market to new heights.

2024-4-10 03:00


Фото:

Option2Trade Remain Market Favorites With Ether As Bitcoin Reaches All-Time Highs

As Bitcoin (BTC) reaches all-time highs, setting the stage for further market growth, Ethereum (ETH) and Option2Trade (O2T) continue to shine as market favourites. Their sustained popularity amidst Bitcoin’s (BTC) milestone achievements highlights the multifaceted nature of the cryptocurrency market, where diversity, innovation, and community involvement are just as crucial for success. Ethereum’s (ETH) role […]

2024-3-13 19:33


Фото:

Bitcoin consolidating above $62k as bull market indicators start flashing

The crypto market has entered March with its foot firmly on the accelerator despite showing signs of a slight slowdown from its recent rapid ascent. Bitcoin (BTC) has continued to hover around the $62,000 mark, showcasing a resilient stance amid varying market sentiments after its remarkable rally past the $60,000 threshold to a high of […] The post Bitcoin consolidating above $62k as bull market indicators start flashing appeared first on CryptoSlate.

2024-3-3 18:32