This week, equity markets had their worst week in 12 years, and when this collapse happened, the crypto market also saw a blow.submitted by jakkkmotivator to thecryptobasic [link] [comments]
Cryptocurrency market had a significant sell-off this week, and this result is relatively reasonable given that people are selling their assets for fear of possible economic instability. Other safe havens such as gold and silver also saw a massive sell-off on Friday.
Will the crypto markets find support in the coming weeks, or will we see a sustained downward trend in momentum?
The Selloff takes place after Bitcoin lost key support at $ 9,400Bitcoin's price found resistance at $ 10,400, after which a test of $ 9,400 support was urgently needed. The $ 9,400 level was unable to provide sustained support, and when the price fell, it resulted in a significant sell-off across the crypto market.
The sell-off led to the next support range of $ 8,200 to $ 8,400, and many horizontal levels are in place to provide potential temporary support and space for an aid rally.
However, in the short term, many believe that the upward momentum is outside the markets as Bitcoin's price reaches a lower low (a key indicator of downward momentum) in the daily timeframe.
Does this mean that the entire crypto market will reverse course and start to decline? Not at all. Bitcoin's price is still 27% higher than January 1st, making Bitcoin one of the most powerful assets of the year.
The weekly chart focuses on the 21-week MAThe weekly chart is currently based on an exciting MA (Moving Average), namely the 21-week MA. The previous bull cycle held this level as support for the bull summit in December 2017, which makes it an interesting indicator for bulls to hold onto.
If the price could find support at this level, it could mean that the upward momentum will continue in the coming period.
The weekly chart also clearly shows the massive sell-off of the past week. However, it is currently based on potential support. Holding the green zone at $ 8,400 would be in line with the 21-WMA and may grant an aid rally.
For sustained upward momentum, it is critical that a break from the previous high of $ 10,400 take place, but such a move could take some time. The market must find support before these levels can be reached.
If the Bitcoin price at $ 8,400 doesn't find support, the next target is $ 7,500 to $ 7,700.
Pretty simple, just the three moving averages that Binance traders see by default (7MA, 25AM & 99MA) and they use the same default colours. Everyone has different ideas of which MA/EMA settings to use and they're all kinda highlighting the same areas whether it's 10/20, 12/26, 9/21, etc., but it stands to reason that these ones are well respected areas given... BTC/USDT Binance price chart in real-time. Stats on multiple timeframes, order book, news and trollbox. Coinalyze. Futures Data. Individual Charts; Global Charts; Technical Analysis. Bitcoin Ethereum Ripple Bitcoin Cash Chainlink Binance Coin Litecoin Cardano Bitcoin SV EOS Monero Tron Stellar Lumens Crypto.com Coin Tezos UNUS SED LEO NEO NEM Cosmos Iota VeChain Dash THETA ZCash Ethereum ... Sehen Sie sich das Live Groestlcoin / Bitcoin Chart an, um die aktuellsten Kursänderungen zu verfolgen. Handelsideen, Prognosen und Marktnachrichten stehen Ihnen ebenfalls zur Verfügung. “Silver, Gold, Bitcoin, etc all look to be ready to make explosive moves higher given the sheer amount of money printing going on around the world. Here is a chart or front-month silver going back 10 years.” How far this money printing will push the asset, though, remains to be seen. Featured Image from DepositPhotos Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com 3 On ... Bitcoincharts is the world's leading provider for financial and technical data related to the Bitcoin network. It provides news, markets, price charts and more. BTC/USD Perpetual Binance price chart in real-time. Stats on multiple timeframes, order book, news and trollbox. Coinalyze. Futures Data. Individual Charts; Global Charts; Technical Analysis. Bitcoin Ethereum Ripple Chainlink Bitcoin Cash Binance Coin Litecoin Cardano Bitcoin SV EOS Monero Tron Stellar Lumens Crypto.com Coin Tezos UNUS SED LEO NEM NEO Cosmos Iota VeChain THETA Dash ZCash ... Bitcoin’s Silver Lining. In addition to the Gold Bullion International cofounder’s opinion, another analyst believes BTC is currently suppressed, much like silver was in 2008 all the way until ... First we will go towards 16k to let more fomo appear in the market and also to grill the shorters, then there is a sale (whether it will be a smaller or equal to the big one is just the question) I tend to have one There will be a small sale at approx. 12-13k then a bear flag will be formed and we will start the last surrender before we will see the real bull...
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