As the BTC price remains at $20K, Bitcoin is prepared to attack a crucial trendline. – Entmetrics

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The trading week on Wall Street ended on July 16, the same week bitcoin was able to consolidate higher. There were modest gains in US equities. Data collected by both TradingView and CoinTelegraph showed BTC hovering between $20,500 and $21,000 over the weekend.

This means that BTC was able to make a comeback from the lows it experienced before. This came after the US inflation data shock triggered what could be seen as weakness in assets considered risky assets.

On bitcoin Retrieve the 200 week moving average

Binance’s order book data is the most important when it comes to the global exchange, just in terms of volume. This showed resistance that was clustered near the $22,000 mark. Material indicators were also monitored. It has been seen that there is a possibility that BTC will end up challenging its 200 week moving average. This is seen as a key trendline in the bear market, which it lost as support about a month ago.

Rekt Capital, an analyst and trader, said it’s easy to go bullish on green days. These same people also turned bearish on red days. CoinTelegraph also recently reported that sentiment hit an unenviable high over the weekend. This happened as the crypto markets ended up capping their longest time when it comes to being in a state of fear. This can be seen from the Greed Index as well as crypto Fear.

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