As you know, the behavior of bitcoin in the chart is such that after each fall or ascent, it starts to suffer for a while. During this time, altcoins have the opportunity to grow. In fact, capital in the market is constantly moving. But most of the capital is in the hands of Bitcoin. Bitcoin traded in the $ 56,000 range yesterday, rising to $ 59,000. But it quickly came under pressure, and returned to support.
The previous day, both the selling pressure and the buying pressure were in the range of $ 56,000. In fact, those who traded in the futures market with high leverage were often liquidated or closed with heavy losses. In general, these things happen more when bitcoin enters the range of suffering. But the market is calm at the moment. Funding rates in most exchanges are close to zero, indicating that both fear and greed in the market have decreased.
Suffering will continue to fluctuate until bitcoin breaks one of the above or upward ranges. But the point is that the price has gradually returned from the second half of the channel to the first half of the channel, and this can be a positive sign. So as long as the static support line is in the range, it can exit the downtrend.
If the sell-off on the $ 56,000 support increases, the downtrend will continue and the price could fall to the target of $ 54,700 to $ 52,900.
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The previous day, both the selling pressure and the buying pressure were in the range of $ 56,000. In fact, those who traded in the futures market with high leverage were often liquidated or closed with heavy losses. In general, these things happen more when bitcoin enters the range of suffering. But the market is calm at the moment. Funding rates in most exchanges are close to zero, indicating that both fear and greed in the market have decreased.
Suffering will continue to fluctuate until bitcoin breaks one of the above or upward ranges. But the point is that the price has gradually returned from the second half of the channel to the first half of the channel, and this can be a positive sign. So as long as the static support line is in the range, it can exit the downtrend.
If the sell-off on the $ 56,000 support increases, the downtrend will continue and the price could fall to the target of $ 54,700 to $ 52,900.
More about of
ZOOMARZ.COM