Bitcoin below 148 million rupees, can prices go up?

Bitcoin (BTC) once again found itself trapped by the volatility of trade, which had resulted in a drop in prices of Rp. 148 million and could not continue to rally at prices of Rp. 155 million.

This upheaval is mainly centered on the ongoing battle between the BTC Bulls (up) and Bears (down), as the main crypto continues to find several levels of support in the region above the $ 9,000 level.

At the time of the press, BTC prices were trading at around 3.1% around the price of 145 million rupees, marking a significant decline from the week's highest level at 148 million rupees, according to CoinGecko.

The recent fall in prices has again brought this main cryptocurrency back to Rp. 142 million, which remains the main level of psychological support.

Although any drop below 142 million rand has been subject to decent buying pressure, this level is getting weaker and weaker!

Some analysts have noted Bullish's reaction to the decline to 138 million rupees last Wednesday and yesterday's rise to 148 million rupees, which may have been triggered by increased trade tensions between the United States and China . However, the brief nature of this movement may have invalidated this theory.

Alex Kruger, an economist, recently said in a tweet on Twitter that he was referring to soaring prices that has been suppressed since:

"Today is the first time that $ BTC reacts sharply * in real time * to the headlines of the trade war or an improvement in the USD CNY."

DonAlt, a popular crypto analyst on Twitter, discussed the recent Bitcoin price action in a tweet explaining that his inability to send pending changes to the top indicates that his action on short-term price is bearish and that the current support zone could "have weak."

"$ BTC daily update: Closed above the mini-resistance and immediately rejected, that's what I mean by jerky conditions, but it never leaves a lower trading margin, and as long as it's biased, the short term has to be bearish.In my opinion, support has been very slim. "

This weekend will probably be a good time for BTC traders, as their reaction to the current selling pressure is likely to indicate whether the BTC is poised to increase in the near future or even suffer losses. Let's wait and see.

Baca Juga