
The post Attention Trades; Bitcoin to Remain Flat This Weekend-Do Not Expect Any Major Move appeared first on Coinpedia Fintech News
Crypto markets nowadays have become less interesting as they have been trading in the absence of the required liquidity. Besides, the bears also appear to remain inactive, which has compelled the price of Bitcoin to remain within a narrow range. For this reason, the global crypto market cap has also remained stuck around $1.06 trillion for quite some time. However, if the market participants believe a massive change may occur in the coming weekend, it may just end up being fictional.
During the latest upswing beyond $28,000, the BTC price soared above the resistance line and not only reached the price reversal zone but also the next resistance levels. In the meantime, a regular divergence (RD) between volume and price between two consecutive peaks was witnessed. However, the rejection that followed dragged the price back to its initial resistance and also broke the major support at $25,800.
Despite the price plunge, the Bitcoin price reacted well to the price reversal zone and rebounded after a contact. Hence, now that the price is believed to undergo a sensible upswing, the lack of volatility may not allow it to do so.
The BTC price is trading within the support zone at the moment, and the recent rejection from the interim rejection may compel the price to reach lower support. This may trigger a notable upswing, which could push the price above $26,200 in the coming week. But the dropped trading volume and the upcoming death cross may not allow the price to soar beyond $26,000. Rather, it may face yet another bearish pullback, leading the token to visit the lower support at $25,200.
Therefore, market sentiment is expected to remain motionless throughout the weekend, with minor price variations. Until the bearish clouds of death cross hover over the markets, no specific price action may be expected.
- Website
- Mobile app
- Telegram Channel
- Telegram Group
- YouTube
- Binance Referral Link
- Bitmex Referral Link
- (Recommended For Leverage) ByBit Referral Link
- Buy Ledger Nano at discounted price
- Buy Cool Wallets at discounted price
Don't forget to share your review/suggestions for the android app.
All In One Crypto App is an execution-only service provider. The material provided on this website is for information purposes only and should not be understood as investment advice. Any opinion that may be provided on this page does not constitute a recommendation by All In One Crypto App or its agents. We do not make any representations or warranty on the accuracy or completeness of the information that is provided on this page. If you rely on the information on this page then you do so entirely on your own risks