RATE Group | Bitcoin’s Bull Market is Alive and Well if It Holds Above This Key Level
76328
post-template-default,single,single-post,postid-76328,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin’s Bull Market is Alive and Well if It Holds Above This Key Level

19 Jan Bitcoin’s Bull Market is Alive and Well if It Holds Above This Key Level

Posted at 19:49h in Bitcoin News by

[ad_1]

Bitcoin’s bulls were greatly disappointed to see the strong rejection the cryptocurrency incurred at $9,200 following what appeared to be an incredibly strong rally yesterday evening.

The rejection at this level was drive by strong volume and shines a light on the fact that bears still have massive strength in spite of their recent weakness and may also suggest that these recent highs could be a mid-term top for the cryptocurrency.

Prominent analysts, however, are also noting that they believe Bitcoin’s market structure is still firmly bullish as long as it ends the day above $8,600, which means how it trades in the next few hours could be critical for its future trend.

Bitcoin Dumps to a Key Support Level, But the Bull Trend Isn’t Over Yet

Currently, Bitcoin is trading down just under 3% at its current price of $8,650, which marks a notable decline from its daily highs of $9,200.

Today’s vertical drop has not (as of yet) been enough to…

[ad_2]

Source link

Tags:
, , , , , ,