Značka: santa rally

Bitcoin battles bears 'on offense' as Christmas delivers a $50K BTC gift

Bitcoin (BTC) held $50,000 into Dec. 25 as BTC bulls avoided an unwelcome Christmas Day surprise. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView”Bears become bulls” short term?Data from Cointelegraph Markets Pro and TradingView showed BTC/USD maintaining $50,000 support into the weekend, having ranged after local highs above $51,500.The pair was calm as the holiday season got underway, with thinner liquidity yet to show itself in the form of volatile price moves.With most taking a break from trading and analysis, the nearest target to the upside remained the $1 trillion market cap valuation level at $53,000.For popular trader Pentoshi, a point of friction could come in the form of sellers actively driving down BTC/USD to liquidity at $46,000, only to then buy back in for a rebound.”Right now beras on offense. They take price down to 46k but there was a lot of resting liquidity there = stop price from moving. They begin to close shorts and buy some spot back,” he offered as a forecast. “Bears become bulls short term like myself.”BTC/USD scenario chart. Source: Pentoshi/ TwitterFurther out, the yearly close was yet to form a major topic of interest, with Bitcoin nonetheless up $21,000 versus the start of 2021.$100,000 halving cycle average not dead yetTaking stock at the end of the year, meanwhile, was stock-to-flow model creator PlanB. Related: Missed out on hot crypto stocks in 2021? It paid just to buy Bitcoin and Ethereum, data showsHaving attracted fresh criticism over Twitter comments he says were misconstrued, the popular analyst said that Bitcoin was still abiding by his model’s predictions this month.As Cointelegraph reported, stock-to-flow’s parameters provide significant room for maneuver when it comes to spot price, this nonetheless of value to PlanB and others.Ad2 – S2F model intactKey is that BTC $51K is still within 1 standard deviation band of S2F model (roughly $50K-$200K, see chart). If BTC stays within 1sd band for the next 2.5 yrs, then S2F model is still valid and indeed useful for me. Of course you should make your own call. pic.twitter.com/cFpRdewUJ5— PlanB (@100trillionUSD) December 24, 2021While $135,000 this month, a forecast from the newly invalidated floor model, turned out to be overly optimistic, that figure as an average price this halving cycle remains in play.

Čítaj viac

Bitcoin 'Santa rally' pauses at $51.5K as funds bet on a sub-$60K BTC price for January 2022

Bitcoin (BTC) lost momentum at $51,500 on Dec. 24 as traders weighed the odds of a “Santa rally” coming true for Christmas. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC sees potent long-term retestData from Cointelegraph Markets Pro and TradingView saw BTC/USD preserve its gains from Thursday, these totalling 6% with resistance most recently kicking in at just above $51,500.Opinions were mixed among weary traders about the strength of the rally and whether it could endure for long.Still in its familiar range despite the overnight uptick, Bitcoin needed to show its muscle on longer timeframes, Cointelegraph reported analysis as saying earlier.For filbfilb, co-founder of trading platform Decentrader, a combination of low funding rates and top traders turning long at the expense of more bearish retail among other triggers served as reason to be more hopeful.Bitcoin; Diag BreakoutTop traders long, normies fading the move up OI up 2.86 bn / 40% Funding low Sitting right below 10x liquidations Happy Christmas. pic.twitter.com/LvRSAN8iTN— filbfilb (@filbfilb) December 24, 2021Trader analyst Rekt Capital meanwhile noted that the reversal currently meant that Bitcoin had “successfully retested” the top of a falling wedge structure in place for much of 2021. BTC/USD had originally broken out of the wedge at the end of September.#BTC has successfully retested the top of the macro Flagging Structure as support$BTC #Crypto #Bitcoin https://t.co/oWwwzblc90 pic.twitter.com/brm5rVDyfd— Rekt Capital (@rektcapital) December 24, 2021

Data from the research arm of derivatives exchange Deribit added that funds were getting more bullish about a Bitcoin price in the mid-$50,000s in January.”Additional funds jumping into the NewYear play,” the firm tweeted Friday. “This time, refocus on BTC, as one large Fund buys a strip of Jan14 52-56k Calls x1200 around 49.5k spot, just before spike >50k.”At press time, BTC/USD stood at just under $51,000.$4,000 ETH returnsBitcoin managed to post stronger daily gains than Ether (ETH) on the day as the largest altcoin nonetheless returned above $4,000.Related: Bitcoin needs to clear $51K to reduce the chance of new sell-off from BTC whalesThe top ten cryptocurrencies by market cap were firmly in the green, led by ongoing success for Terra’s LUNA token.The exception was a flat XRP, which had nonetheless staged its own rally earlier in the week.ETH/USD 1-hour candle chart (Bitstamp). Source: TradingView”And just like that, people want to buy altcoins again,” Cointelegraph contributor Michaël van de Poppe summarized.

Čítaj viac

Získaj BONUS 8 € v Bitcoinoch

nakup bitcoin z karty

Registrácia Binance

Burza Binance

Aktuálne kurzy