Kev Ntsuas Tus Nqi Bitcoin: Cov txiaj ntsig tuaj yeem txhawb nqa BTC nyob rau lub sijhawm ze

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This past week was a roller-coaster for Bitcoin. At one point, BTC went from $12,000 to $10,500 in the space of just a few minutes. However, it spent the majority of last week climbing closer to the $12,000 mark again.

On Friday, the benchmark cryptocurrency dropped as low as $11,200 (previous resistance turned support), before jumping back to the $11,600s level, which is where we’re currently trading at.

Meanwhile, worth mentioning is the effect that Bitcoin derivatives (futures and options) are likely to have on the price action of the cryptocurrency in the near-term. Analysts have pointed out that the funding rate of Bitcoin futures is currently neutral after last week’s positive momentum.

This means that neither longs nor shorts are “over-leveraged.” Usually, neutral funding rates are seen before Bitcoin experiences a leg up.

BTCUSD - Daim Ntawv 4-Teev

Cov Tseem Ceeb Kom Saib Tau

History has shown that a parabolic run (a bull-run without corrections) almost always ends badly. A good example is the 2017 bull-run.

Friday’s decline was a healthy correction to the recent bullish trend. The intense dip-buying that was noted after the drop showed just how strong the market was.

On the 4-hour chart, we can see that BTC is forming a rising wedge, which could be a key determinant in the next surge. An upwards breakout above the $11,800 would favor the bulls while a break below the $11,400 level could turn BTC bearish in the short-term. However, a fall from this level will be strongly supported by the 50 HMA ($11,530).

Meanwhile, the path of least resistance remains strongly to the upside as our focus remains on $12,000).

Tag Nrho Cov Lag Luam Cap: $ 357.3 billion

Bitcoin Kev Lag Luam Cap: $ 215.8 billion

BTC Cov Luag Pom Tau: 60.2%

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Azeez Mus

Azeez Mustapha yog tus kws tshaj lij kev lag luam, tus kws tshuaj xyuas nyiaj txiag, teeb tsa tus tswv yim lag luam, thiab tus tswj nyiaj txiag nrog ntau dua kaum xyoo ntawm kev paub dhau los hauv kev lag luam nyiaj txiag. Raws li blogger thiab tus sau nyiaj txiag, nws pab cov tswv lag luam nkag siab cov ntsiab lus nyiaj txiag nyuaj, txhim kho lawv cov peev txheej peev txheej, thiab kawm paub tswj hwm lawv cov nyiaj li cas.

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