• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Breaking News: The Sandbox Seals Deal With Saudi Arabian Digital Government Authority
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC
Bitcoinist.com
No Result
View All Result
Breaking News: The Sandbox Seals Deal With Saudi Arabian Digital Government Authority
Bitcoin
Advertisement

Bitcoin is Getting “Squeezed” Between 2 Critical Levels; Volatility Imminent

Cole Petersen by Cole Petersen
2 years ago
in Bitcoin
0
Advertisement
  • Bitcoin’s price action has been rather lackluster ever since it saw its sharp decline to lows of nearly $28,000 just a few days ago
  • The selling pressure that sent it down to these lows has since subsided, but bulls have been struggling to extend the momentum that first sparked this movement
  • Where the entire market trends in the mid-term may depend largely, if not entirely, on whether Bitcoin can sustain the rebound seen in the time following this movement
  • One trader is now noting that the entire market could be well-positioned for a massive movement in the near-term
  • He explains that BTC is being squeezed between two key technical levels that could have some heavy influence over its near-term trend

Bitcoin’s price action feels somewhat void of momentum, with investors and analysts largely focusing their attention on Ethereum and other altcoins for the time being.

This comes as BTC hovers within the lower-$30,000 region, with bulls struggling to perpetuate the momentum that helped send its price rocketing from lows of just over $28,000 to highs of $33,000 that were set last night.

Don't wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!

One analyst is now noting that Bitcoin is currently hovering between two key technical levels, which could mean that it is only a matter of time before the crypto sees a massive movement.

Bitcoin Struggles to Maintain Strength as Sellers Try to Regain Control 

At the time of writing, Bitcoin is trading down just under 1% at its current price of $31,900. This marks a notable decline from its recent highs of $33,000 that were set overnight.

The resistance here was quite intense and has since caused its price to slide lower, with no clear support until $30,000.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day, only at Wild.io. Play Now!

If the crypto can gain any immense momentum in the short-term, it could invalidate this weakness and confirm the “V-shaped” recovery that bulls have been hoping for.

Analyst Claims BTC is Gearing Up for a Massive Movement

One analyst explained in a recent tweet that Bitcoin could be getting ready to make a big movement.

He explained that it is currently trading squarely between its 21 and 200-day EMAs, which could mean a big movement is imminent.

“Bitcoin getting squeezed between the cloud. Specifically between the 21 and 200ema – big move will follow.”

Bitcoin

Image Courtesy of Teddy. Source: BTCUSD on TradingView.

The coming few days should shine a light on whether this imminent move will favor bulls or bears, and tonight’s weekly close should also be telling as to BTC’s mid-term outlook.

Featured image from Unsplash.
Charts from TradingView.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.

Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

Bitcoin BTC BTCUSDT

Will Bitcoin See A Valentine’s Day Massacre Or Can Bulls Get Back To $24,000?

12 hours ago
Bitcoin

Bitcoin Long-Term Holders Are Still Selling At Loss: Glassnode

18 hours ago
Bitcoin BTC

Will Bitcoin And Ethereum Crash? DCG Sells Grayscale Trust Shares

21 hours ago
Bitcoin

Top Crypto Miner At Record Bitcoin Production, Bear Market Over?

1 day ago
Bitcoin price

This Will Be Important For Bitcoin And Crypto This Week

2 days ago
New record: 49% of Bitcoin Supply Has Not Changed Hands in 2 Years

New Record: Half Of Bitcoin Supply Hasn’t Changed Hands In 2 Years

3 days ago
Please login to join discussion

Premium Partners

Premium Casino Partners

Top Casinos

BitStarz
BitStarz
Punt Casino
Punt Casino
mBit
mBit
Metaspins
Metaspins
1xBit
1xBit
Coinplay
Coinplay
K8
K8
Vegas Casino
Vegas Casino

Sportbooks

Coinplay
Coinplay

Press Releases

  • ALTCOIN DAILY TO PRODUCE AND STAR IN NEW “SHARK TANK OF...

    17 hours ago
  • SinVerse Studios Announces $1 Million Buyback Program for...

    17 hours ago
  • Join the Revolution: Invest in STARSTAKING for 25% APY and...

    17 hours ago
  • The Crypto Bull Market Trend Has Started! What Does This...

    18 hours ago
  • Orbeon Protocol (ORBN) Grows 1625% During the Presale...

    18 hours ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2023 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Industry News
    • Press Releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Bitcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
    • Bitcoin Casinos – Where, What and How to Play
  • Events
  • Play Games
  • Play Casino Games
  • Win 1 BTC

© 2022 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.