Bitcoin price data suggests bulls will succeed in holding $30K as support this time
Two key Bitcoin price metrics suggest that bulls will be able to hold the $30,000 level as support.
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Two key Bitcoin price metrics suggest that bulls will be able to hold the $30,000 level as support.
Ethereum price looks poised for additional downside as low as the $1,560 level.
Bitcoin’s price continues to explore the lower regions of its trading range, but a drop to $25,000 seems nearly inevitable, according to derivatives data.
Ethereum could eventually fall afoul of the SEC, but at the moment, key data points suggest ETH is poised to hold the $1,800 level.
Bitcoin’s price dropped to $25,500 after the SEC announced a lawsuit against Binance and Changpeng Zhao, a move which also has BTC bulls wondering if the bottom is truly in.
Professional Bitcoin traders displayed strength after the BTC price corrected to $25,830, favoring further bullish momentum.
The failed rally above $2,000 on May 6 has proven that ETH bulls are nowhere near comfortable adding leveraged longs.
BTC options and futures markets show no use of excessive leverage from buyers, a healthy indicator as the $28,000 support gets retested.
Another top-20 U.S. bank bites the dust, but Ethereum price fails to benefit from the event.
Ether traders have been neutral-to-bearish for the past week, indicating little confidence in ETH breaking above $2,000.