Will Bitcoin Test the $115K Barrier or Hit the Next Big Wall on the Way Down?
The post Will Bitcoin Test the $115K Barrier or Hit the Next Big Wall on the Way Down? appeared on BitcoinEthereumNews.com. Bitcoin is currently hovering around the $109K mark. The market has witnessed $276.11M in BTC liquidations. With the crypto assets in bearish condition, their price movements are losing momentum. Following suit, the largest asset, Bitcoin (BTC), has dropped below the $110K mark. The asset has undergone multiple recovery attempts. BTC’s price hit its ATH 12 days ago, but at press time, it is facing rejections. BTC has failed to hold the bullish streak and formed a series of lows and highs in the last few days. The asset has visited its daily high at the $112,946 range in the early hours. Later, with the sturdy bears in command, BTC slipped to its recent low at around $108,762. Bitcoin has registered a loss of over 1.60%. BTC is currently trading at the $109,819 level, with the daily trading volume dropping by 6.35%, reaching $78.26 billion. As per Coinglass data, the market has experienced a 24-hour liquidation of $276.11 million worth of Bitcoin. Consequently, the asset is in the neutral zone as the Fear and Greed Index value holds at 48. A chart shows a sharp rise in Bitcoin inflows to exchanges, with around 20,000 BTC moved in two weeks. It often signals selling pressure, as holders transfer it to sell, and this coincides with price weakness. If inflows continue to rise, it may suggest further downside risk unless demand absorbs the supply. Will Bitcoin’s Price Find a New Resistance or Support? The Moving Average Convergence Divergence line and the signal line have crossed below the zero line, hinting at an overall bearish momentum. Although the MACD crosses above the signal line, it is considered corrective until both lines rise above zero. Besides, the Chaikin Money Flow (CMF) indicator of Bitcoin settled at -0.11 points to mild selling pressure in the market.…
The post Will Bitcoin Test the $115K Barrier or Hit the Next Big Wall on the Way Down? appeared on BitcoinEthereumNews.com.
Bitcoin is currently hovering around the $109K mark. The market has witnessed $276.11M in BTC liquidations. With the crypto assets in bearish condition, their price movements are losing momentum. Following suit, the largest asset, Bitcoin (BTC), has dropped below the $110K mark. The asset has undergone multiple recovery attempts. BTC’s price hit its ATH 12 days ago, but at press time, it is facing rejections. BTC has failed to hold the bullish streak and formed a series of lows and highs in the last few days. The asset has visited its daily high at the $112,946 range in the early hours. Later, with the sturdy bears in command, BTC slipped to its recent low at around $108,762. Bitcoin has registered a loss of over 1.60%. BTC is currently trading at the $109,819 level, with the daily trading volume dropping by 6.35%, reaching $78.26 billion. As per Coinglass data, the market has experienced a 24-hour liquidation of $276.11 million worth of Bitcoin. Consequently, the asset is in the neutral zone as the Fear and Greed Index value holds at 48. A chart shows a sharp rise in Bitcoin inflows to exchanges, with around 20,000 BTC moved in two weeks. It often signals selling pressure, as holders transfer it to sell, and this coincides with price weakness. If inflows continue to rise, it may suggest further downside risk unless demand absorbs the supply. Will Bitcoin’s Price Find a New Resistance or Support? The Moving Average Convergence Divergence line and the signal line have crossed below the zero line, hinting at an overall bearish momentum. Although the MACD crosses above the signal line, it is considered corrective until both lines rise above zero. Besides, the Chaikin Money Flow (CMF) indicator of Bitcoin settled at -0.11 points to mild selling pressure in the market.…
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