CRYPTO NEWS - Can Bitcoin Reach $500000 This Week?
CRYPTO NEWS - Can Bitcoin Reach $500000 This Week?
00:05 Intro
01:48 Crypto News
02:17 Bitcoin News
03:32 Ethereum News
04:15 Bitcoin Technical Analysys
06:40 Ethereum Technical Analysys
08:01 Crypto Market News
10:10 Outro
At the beginning of the week, bitcoin tried to accelerate and reach the psychological mark of $50,000. Many traders have already managed to announce the return of the so-called "Santa Claus rally".
However, the coin failed to break resistance at the level of $49,500 and already the night before its price fell below $49,000. This morning, bitcoin is trading at $48,528.
Support did not work, and now the cryptocurrency is facing a deeper correction. Another strong support zone is expected around $48,000. Most likely, the coin will not fall below this value, and within the next 24 hours it will try to break resistance at $49,200.
Even if BTC reaches $50,000 this week, it still has little chance to hold positions.
According to analysts of WhaleMap, whales, who bought bitcoins at prices above $50,000, will start selling to recoup their losses.
In this case, a new phase of weakening of the exchange rate will be inevitable. Though it is not excluded the scenario when not all whales will start selling the cryptocurrency, but only some of them. In this case, in the absence of pressure, a further ascent of bitcoin will become real, experts say.
#bitcoin #cryptocurrency
00:05 Intro
01:48 Crypto News
02:17 Bitcoin News
03:32 Ethereum News
04:15 Bitcoin Technical Analysys
06:40 Ethereum Technical Analysys
08:01 Crypto Market News
10:10 Outro
At the beginning of the week, bitcoin tried to accelerate and reach the psychological mark of $50,000. Many traders have already managed to announce the return of the so-called "Santa Claus rally".
However, the coin failed to break resistance at the level of $49,500 and already the night before its price fell below $49,000. This morning, bitcoin is trading at $48,528.
Support did not work, and now the cryptocurrency is facing a deeper correction. Another strong support zone is expected around $48,000. Most likely, the coin will not fall below this value, and within the next 24 hours it will try to break resistance at $49,200.
Even if BTC reaches $50,000 this week, it still has little chance to hold positions.
According to analysts of WhaleMap, whales, who bought bitcoins at prices above $50,000, will start selling to recoup their losses.
In this case, a new phase of weakening of the exchange rate will be inevitable. Though it is not excluded the scenario when not all whales will start selling the cryptocurrency, but only some of them. In this case, in the absence of pressure, a further ascent of bitcoin will become real, experts say.
#bitcoin #cryptocurrency
