BTC’s price holds above $16,000 price struggles to break above $17,000, creating more worry for many traders Price remains weak as bears battle bulls, as the price fails to break above $17,500 with so much uncertainty in the market Rejection from a low of $17,000 on the high timeframe noted, as price trades above $16,000 below the 50 Exponential Moving Average (EMA) The price movement demonstrated by Bitcoin (BTC) recently hasn’t given traders and investors much chance to trade with liberty as prices continue in a dead cat bounce with more expectations heading toward a downside. In the high timeframe, the price of Bitcoin (BTC) looks heavy toward a downtrend movement compared to an upside. Despite the relief bounce and uncertainty surrounding the crypto market, the FTX fiasco continues to act as a catalyst for the market to bottom out. The Domino effect of the FTX saga and other large investors has stalled the market, as it has yet to make a significant move, raising concerns about the market’s direction. (Data from Binance) Related Reading: Ethereum Price Could Avoid a ..
Support the originator by clicking the read the rest link below.
