CRYPTO NEWS - Flat is on Crypto Market - Bitcoin Price Around $19K - Market is in Red Daily
CRYPTO NEWS - Flat is on Crypto Market - Bitcoin Price Around $19K - Market is in Red Daily
Intro: (0:00)
Market is in Red Daily (1:11)
Flat is on Crypto Market: (1:15)
Crypto News: (2:12)
Bitcoin Price Around $19K: (3:41)
Ethereum Price: (4:15)
Outro: (07:57)
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD taking aim at $19,500 after starting the month flat.
The largest cryptocurrency reacted positively to lower than expected United States manufacturing data, while in Europe, market turmoil over Credit Suisse gathered pace despite executives’ reassurances.
“We are kicking off October trading in the same congested area we ended September,” on-chain analytics resource Material Indicators wrote in one of several updates on the day.
A further post revealed a proprietary trading indicator flashing “long” on daily timeframes, increasing hopes that bulls would be able to tackle the $20,000 mark.
Analyzing the behavior of derivatives traders, however, William Clemente, co-founder of digital asset research and trading firm Reflexivity Research, warned that long positions were too eager to confirm a trend change.
“Important to monitor the BTC derivatives market. For the time being, longs have been piling in on every move up in price,” he explained.
Intro: (0:00)
Market is in Red Daily (1:11)
Flat is on Crypto Market: (1:15)
Crypto News: (2:12)
Bitcoin Price Around $19K: (3:41)
Ethereum Price: (4:15)
Outro: (07:57)
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD taking aim at $19,500 after starting the month flat.
The largest cryptocurrency reacted positively to lower than expected United States manufacturing data, while in Europe, market turmoil over Credit Suisse gathered pace despite executives’ reassurances.
“We are kicking off October trading in the same congested area we ended September,” on-chain analytics resource Material Indicators wrote in one of several updates on the day.
A further post revealed a proprietary trading indicator flashing “long” on daily timeframes, increasing hopes that bulls would be able to tackle the $20,000 mark.
Analyzing the behavior of derivatives traders, however, William Clemente, co-founder of digital asset research and trading firm Reflexivity Research, warned that long positions were too eager to confirm a trend change.
“Important to monitor the BTC derivatives market. For the time being, longs have been piling in on every move up in price,” he explained.
