prices seem to be stabilising after experiencing a massive sell-off. It seems like the massive selling pressure that we saw for the past two days is over. Crypto investors have started to see the current sell-off as a healthy correction and as an opportunity to add to their positions. We have seen a number of funds adding to their positions during this sell-off, and the fact that institutional money is adding more Bitcoin to their portfolio is a sign of further confidence. 

In terms of technical analysis, on an intra-day time frame, such as the 4-hour time frame, the Bitcoin price is showing early signs of the bear rally losing its momentum. There is some evidence that the BTC has started to put in higher lows, although we still need to higher highs forming. The price is in battle with the 50K price mark, and once it has cemented this price level as a support and continues to trade above this, it will be a clear sign that Bitcoin price is heading for a new high.  

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

×