CRYPTO

Bitcoin bounce rate extends up to $ 36K with bulls with 36% BTC price reduction


Bitcoin (BTC) continues to fly through the support level during trading on September 20 before the US stock market promises to open.

BTC / USD 1 hour candlestick chart (bitstamp). Source: Tradingview

$ There is no sweat for BTC traders after visiting 42,500

Data from Cointelegraph Markets Pro and Trading View tracked BTC / USD, which briefly dropped to around $ 42,500 before returning to $ 44,000 in volatile conditions.

Monday’s low was seen at the beginning of the month during the leverage cascade, with Bitcoin testing as support for both its weekly high low and the 21-week index moving average.

As Cointelegraph reports, there are many factors combined to create selling pressure for the BTC market. Hundreds of millions of dollars in debt defaults at Evergrand have caused concern, instead pushing the stock and strengthening the US dollar. The increasing bitcoin exchange balance provides an additional catalyst from within the market.

Yet traders keep them cool.

“Why are you surprised today? Don’t be so emotional,” the popular Twitter account Anbesa said. Says Followers at the height of the route.

Anbesa has set the level of concern within the range of just 30 30,000, Bitcoin is still above 40 40,000 and Fibonacci retracement level at 38 38,000.

For analyst and statistician Willie Weir, however, the stock market should remain open to provide a debate in itself.

“SPX teasing, big sales threat,” he said Be careful Advance return to Wall Street.

“BTC is creating a waqfian distribution pattern, speculators are selling in risky mode, while investors have strong on-chain deposits. This is going to be an interesting opening for the equity market this morning.”

A. Added The stock could face a deeper crisis, a situation that could mimic 2020, when the pressure to supply Bitcoin eventually brought it to a new all-time high, starting at 3,000 3,000,000, even in the midst of initial misunderstandings.

S&P 500 1 day candle chart. Source: Tradingview

The bull’s vision proves difficult to shake faith

Others were less embarrassed than Monday’s events, including the popular trader Pentosi, who released record BTC exposures at current levels.

Related: ‘Best Beer Market’ – 5 Things to See on Bitcoin This Week

“Do I think 41k is possible? Yes. But I think we see 56-58k in 3-5 weeks. I’m macro bullish.” Comments 7 days.

The data from the Monitoring Resource Material Indicator captures rapidly changing images on the spot exchange, where liquidity was increasingly being taken.

BTC / USD Buy-Sell Level (Binary) till September 20. Source: Material Index