BTC Slipped under $46K again but this drop had little impact on sentiment with a longer-term view still favoring the showdown of $60K or higher so let’s read more in our latest Bitcoin news today.
Bitcoin saw lows of under as BTC slipped under $45K a few days ago as the second installment of the resistance rejection being played out. The analysts eyed a BTC attack for the all-time highs and the data shows that the BTC/USD pair is giving the $46,000 level an overnight chance after the earlier failed breakout. The bulls had run out of steam during the attack on the major cell wall that is holding BTC back from $50K and the U-Turn sparked an even more fragile mood with the daily losses sitting at 4% at the time of writing. Trader Pentoshi warned:
“This area is to me the major boss and hurdle to climb.”
He added that the pair completed preparation for a rematch of all-time highs in one zone above the resistance at $50K or higher:
“I still believe for now it will be a Short term LH on the micro before we go for that upper range.”
Fellow trader and analyst Michael van de Poppe hinted about the long-term moment of reckoning potentially appearing soon and said that BTC is inside the higher timeframe resistance while the next week we can see some more important things happening. The buy and sell levels on Binance showed the $48,000 sellers still sit in place with the support surpassing $45,000 after the modest leg down. Most in the top-fifty cryptocurrencies by market cap canceled out or saw weak 24-hour gains with the top five lost in step with BTC. ADA and XRP increased once the weekend began and even Van De Poppe said he expects Cardano to gain value in the upcoming months. The Market participants still expect altcoin opportunities to rise in the upcoming months with a focus on DeFi tokens in particular.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]