Bitcoin rebounds after humongous sell scare that compromised $9K support, where next for BTC bulls?

Bitcoin rebounds after humongous sell scare that compromised $9K support, where next for BTC bulls?
фото показано с : zycrypto.com

2020-5-23 15:06

The last few days have been critical for Bitcoin. With sentiments high, investors have been on the trembling edge. This has seen Bitcoin face trial in the form of a panic sell. From highs of $9,800 early in the week, Bitcoin went on freefall and as of yesterday had dipped under $9K.

The bearish trend began on Wednesday after a scare that Satoshi was moving his Bitcoin. An 11-year-old wallet that has been dormant moved $500K worth of Bitcoin. Rumor spread that this was Satoshi, the creator of Bitcoin.

At the chance that this was true and he or they would start dumping some investors triggered a flash crash as they exited. At the time, Bitcoin crashed to $9,400 in minutes before making a recovery as fact-checkers affirmed the wallet address was not owned by Satoshi.

BTCUSD Chart By TradingView

Since then, the bulls have failed to fully take back the market. Yesterday, the bears successfully pulled Bitcoin to the $9K support and saw it below it for a short while. As many analysts have been calling, Bitcoin fell to the $8.8K support before it began climbing back up to find support above $9K again. The $8.8K support was critical and a rebound from this necessary to avoid a prolonged bearish trend.

Today, Bitcoin has made a more convincing bounce. At the time of writing this, the digital asset has climbed to $9,200 where it will be looking to set its support.

What Next For Bitcoin?

By rebounding from the long term support of $8,800, Bitcoin has shown it’s still bullish. This dip was likely quickly overturned due to high demand with bulls reaccumulating. In the short term, they will look to seal $9,200 as the new support and get back above the $9,500 level.

The weekend is likely to see little action but if Bitcoin can reach the $9,500 going out of it, the asset will be set for a retest of the $9,800 resistance early next week. If the bulls will have gathered traction, we can finally see $9,800 broken and Bitcoin reach for the much desired $10,000 price tag.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 95318.47 (-0.22%)
Объем 24H $66.282b
Изменеия 24h: -0.37 %, 7d: 2.88 %
Cегодня L: $93967.9 - H: $96238.42
Капитализация $1887.24b Rank 1
Цена в час новости $ 9252.28 (930.22%)

bitcoin sell highs early week panic trial

bitcoin sell → Результатов: 126


“Bitcoin is a scam, Sell Everything”… Says The Living Bitconnect Meme Carlos Matos

Carlos Matos loooooooooooooooves Bitconneeeeeeeeeeeeeeeeeeeeeeeeeeeect… but he absolutely hates Bitcoin (BTC). The famous promo-maker of the most notorious Ponzi scheme in the world of cryptocurrencies, published a tweet a few hours ago advising all his followers to “sell everything” they had in Bitcoin (BTC) as it is a Scam: Bitcoin Is A Scam.

2018-10-27 19:32


Yahoo Finance Offering ‘Buy’ and ‘Sell’ Options for Bitcoin, Ethereum and Litecoin

Popular financial news website Yahoo Finance has now integrated ‘buy’ and ‘sell’ trading options for cryptocurrencies Bitcoin, Ethereum and Litecoin. While many ordinary web users have likely forgotten about Yahoo following the rise of Google, Yahoo Finance has remained the most popular personal finance website in the United States, with approximately 70 million monthly users.

2018-8-30 22:33


Фото:

Bitcoin Price Analysis: High Shorts Count Could Signal Price Hike

Once again, bitcoin finds itself precariously perched on the bottom of its macro trading range (TR). After a strong round of selling over the course of two weeks plunged the price back to the $6,000s, bitcoin began consolidating for several weeks at the bottom of the TR:Figure 1: BTC-USD, 1-Day Candles, Macro TRAs shown in the figure above, the market has interacted several times at the current price range and it has been a source of three major bullish rallies.

2018-8-25 00:42