* Our Parent Company Crypto Token is LIVE!!! *Flag Token

After Losing $6000 in 3 Days, This is The Next Major Support for Bitcoin (Price Analysis)

Date:

Share post:

Bitcoin’s price has been declining over the past few days, almost reverting all gains from the past greenish week. In fact, Bitcoin lost over $6K over the past 3-days.

However, there is a positive sign for the bulls: Despite the fear and uncertainty in the market, the divergence between the long-term holders (accumulating) and short-term holders (spending in loss) is much more significant in this crash compared to May 2021’s 50% drop.

Technical Analysis

By: Edris

The Daily Chart

As mentioned in our previous analysis, the price has been rejected impulsively from both the 100-day moving average and the $45K resistance level.

BTC also broke below the 50-day moving average, spreading fear all over the market once again. However, there is still the chance to reclaim back above the significant moving average line over the past few days. In that case, we might see another attempt towards the $45K resiatnce.

On the other hand, if BTC fails to recover in the next couple of days, the next support level would be the $36K area that the bulls defended the last time it was…

Read more…

Related articles

Bluefin Secures Agreement with Everi to Bring Added Cash Access Security to Casino Gaming Floor – FinTech Futures

Everi is the first gaming provider to integrate to Bluefin’s patented P2PE as-a-service technology ATLANTA–(BUSINESS WIRE)–Bluefin, the recognized...

Blur tops critical metrics in race to ace NFT marketplace, but…

Blur has dominated trading volume throughout February 2023. It has, however, lagged in the number of transactions. Blur has come...

Dormant Satoshi-Era Wallet Moves $9.6M Bitcoin After 11 Years

A Bitcoin BTC/USD address that had been dormant for more than a decade suddenly sprung back to life...

Blockchain is on RBI’s priority list as innovative technologies, says MoS Finance – The Financial Express

Blockchain is on RBI’s priority list as innovative technologies, says MoS Finance  The Financial Express Read more...