$ 20,327.00
$ 1,156.58
$ 1.00
$ 0.460383
$ 0.3277
$ 1.00

What Will the Future Bring for BTC Trading in this Consolidation Period?

When the $59.1k level was breached and challenged as resistance, the decline of Bitcoin commenced, and it seemed to endure until February.

Bitcoin (BTC) had reached a low of 39.5% back in January and has been gradually growing since then. This suggested that capital was flowing toward Bitcoin (BTC) as opposed to other altcoins in the market.

Furthermore, Tether (USDT) has plummeted from 4.87% in the week before to 4.28% at the time of writing, indicating that market players were starting to invest in cryptocurrencies after sitting on the sidelines with Tether (USDT). According to a recent analysis on the biggest cryptocurrency, a phase of increased volatility is on the horizon for Bitcoin (BTC)

When the $59.1k level was breached and challenged as resistance, the decline of Bitcoin (BTC) commenced, and it seemed to endure until early February. Bitcoin (BTC), on the other hand, soared to a new high of $45.8k at the beginning of February.

Importantly, this level was greater than the Bitcoin (BTC) downward trend’s latest lower high, which was $44.6k. Simultaneously, the price dropped to new lows, which in turn signified that the decline had at the very minimum come to a halt.

The $45.8k level shows a strong supply position, and sellers are predicted to be dominant up to $52k. As a result, while a lengthier negative bias has decreased significantly, the bulls were also not in control.

For Bitcoin (BTC), the signs revealed a similar scenario. Following almost a month of struggling, the RSI had risen over the neutral 50 levels. In addition, the MACD created a bullish confluence and rose over zero. Each of these indicators suggested that the bulls’ stronghold on the market had diminished, and that bullish momentum was not as significant.

The OBV went even deeper, emphasizing how, notwithstanding a disruption in market structure, the demand of buyers was merely insufficient. Since November, the OBV has been on a steady decline, however, it has risen slightly since January 2022. This move, however, was unlikely to prompt a new upward rise.

Buyers and sellers competed intensely through every important horizontal level as the Bitcoin (BTC) price seemed to be recovering. The $44k-$45k range was a significant resistance zone, with $48k also acting as a barrier. The $38k level, as well as the $35k-$36.4k range, could provide assistance.

Also read:

Related News

Meta Continues With Its NFT Plans

Meta stated that its other cryptocurrency initiatives are proceeding according to schedule after announcing the end of its Novi project. Non-fungible tokens (NFT) have been developing for a while by the company. The Novi initiative, which enables remittances and international money transfers, will shortly be shut down, the company announced recently. According to the company, the project will no longer operate as of September 1. Users of Novi were informed

Read More »

Bitcoin’s Lightning Network Now Available for Argentina From OpenNode Partnership With Lemon Cash

OpenNode, a supplier for Bitcoin payments, has teamed with Lemon Cash, a well-known Latin American bitcoin wallet service. The wallet’s cooperation with OpenNode allows over 1 million Lemon Cash users to now access Bitcoin’s Lightning Network. “This partnership is yet another example of our capability and belief in Bitcoin as the new base layer for global payments… We’re proud to support Lemon’s mission and its desire to scale and benefit

Read More »
LuckyBlock is a worldwide game and competition platform with play to earn rewards using blockchain protocols. They have already given many prizes to the participants of the game.

Lucky Block Partners with Crypto Academy

Lucky Block has partnered with Crypto Academy, as we look forward to many updates and launches ahead.  Lucky Block has reached a partnership with Crypto Academy, the renowned Crypto Marketing Agency, and Informational and Educational portal. With an incredible success rate in helping cryptocurrency-focused startups grow in the industry, the partnership with Crypto Academy is a stepping stone in the exciting journey ahead for Lucky Block. LuckyBlock is a worldwide

Read More »

My Coins

$ 20,327.001.28%
$ 1,156.580.6%
$ 0.4603830.01%
$ 1.000.15%

Newest Videos on YouTube

We inform and educate people about Cryptocurrencies and Blockchain technology.

© Copyright 2021, All Rights Reserved,
Crypto Academy


Contact Us

For any question conatct us through:

Disclaimer: All information and materials on this website are for educational purposes only. does not provide any form of financial advice. Cryptocurrencies are highly volatile, therefore any form of investing carries a high level of risk to your capital. It is recommended that you seek professional advice prior to implementing any investment or financial plan.

We do not ask you for your Cryptocurrency / We do not hold your Coins / We do not ask for Private Keys / Be aware of scammers and imposters.

Contact us only through: