Here’s why analysts expect ‘choppy’ Bitcoin price action between $42K and $53K
Traders expect Bitcoin price to stay in a “choppy” $42,000 to $53,000 zone until confidence returns to the market.
Auto Added by WPeMatico
Traders expect Bitcoin price to stay in a “choppy” $42,000 to $53,000 zone until confidence returns to the market.
Bitcoin price is dropping back toward monthly lows, but analysts agree that the current range is a “buy zone.”
Bitcoin price flashed a few bullish signals on Nov. 29, leading analysts to share their opinions on why BTC should close November above $60,000.
Kraken Australia’s Managing Director is concerned that a proposed new licensing regime for crypto exchanges could collapse the vibrancy of the industry down under.
BTC price dropped below $56,000 again, leading analysts to discuss various bull and bear scenarios for Bitcoin’s short term price action.
Bitcoin price fell below the $57,000 level today, sparking a widespread sell-off in ETH and altcoins but traders say the current range presents an “attractive entry” for hodlers.
Cryptocurrency markets have dropped significantly in value during the last 24 hours as the entire market capitalization of all 10,000 crypto assets in existence has dropped below the $3 trillion…
Rising U.S. inflation and overblown fears about Evergrande contagion might be factors behind BTC’s recent pullback, but most analysts view the drop as a “necessary retest.”
Analysts say BTC price is set for a near parabolic price move once the “last” resistance at $67,000 is cleared.
BTC, ETH and altcoins saw a slight pullback a day after the Federal Reserve signaled that its monetary policy is subject to cool off soon.