empty
26.11.2021 07:13 PM
Bitcoin: Waiting for an Impulse? Catch BTCUSD at 52,000

Black Friday suddenly turned into a red Friday for the cryptocurrency market. Bitcoin very skillfully bounced off the resistance of the 55,842.84 - 59,283.67 corridor and broke through its support. Now catch BTCUSD at $52,000 per coin.

What became the catalyst and how dangerous it is for the crypto market?

African Strain of Coronavirus or Thin Market?

Markets were shocked by the news of the discovery of a new African strain of coronavirus on Friday. It is distinguished by a large number of still unexplored mutations, as well as a higher propagation rate.

Stock and commodity markets collapsed. Does this mean that bitcoin, followed by other cryptocurrencies, also collapsed amid the flight from risk? Perhaps.

But here, I think, it was not without the effect of a thin market due to the weekend in the United States. I'm not sure if this works the same on cryptocurrency exchanges as it does on the stock exchange, but I won't completely rule out the impact.

Is it worth buying back the fall?

Analysts point out that Bitcoin could fall 20% from record highs and this is a great opportunity to "buy back the fall." For large market participants, it may be so, but for private traders, this is clearly not the best opportunity. Catching falling knives in the middle of the range is very risky for a small capital.

But when it will be possible to consider purchases, it is when the price reverses in the area of $52,000 per coin. The nearest support zone is visible there. I think the price may stop here. However, it is not necessary to open deals before a clear reversal is formed. It's such a time now where anything can happen locally.

Bloomberg claims bitcoin is "bearish"

While some are recommending buybacks, popular trader and podcast host Scott Melker warned against following the crowd expecting to buy out even lower levels.

Funding rates on exchanges are a sign that sales are likely not over yet. They are still high despite the 24-hour liquidation volume approaching $700 million.

Melker also drew attention to an unusual correlation between the US dollar and bitcoin. He believes, as already noted above, that this is due to the impetus given to the market by fears around the virus.

Experts usually argue that Bitcoin tends to be inversely correlated with the US dollar, which, incidentally, collapsed on Friday against a basket of currencies.

However, now bitcoin has fallen along with the dollar index markets - the correlation (if any) turned out to be direct. There is a strange escape from risk.

Or is it just Black Friday?

Nevertheless, a similar trend was already observed when at the end of November 2020, Bitcoin fell to about $16,400, but then recovered and for the first time in three years crossed the level of $20,000 per coin.

So maybe not everything is so critical yet. At least, in my opinion, there is no need to panic until the area near $52,000 per bitcoin is broken.

Meanwhile, other analysts argue that a heavy block of support in the form of buyers' positions at $53,000 stands in the way of further losses of BTCUSD. This is roughly the area that corresponds to Bitcoin's $1 trillion market cap.

This image is no longer relevant

Pilih carta masa
5
min
15
min
30
min
1
jam
4
jam
1
hari
1
minggu
Jana pendapatan melalui perubahan kadar mata wang kripto dengan InstaForex.
Muat turun MetaTrader 4 dan buka dagangan pertama anda.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    SERTAI PERADUAN

Artikel yang dicadangkan

Cadangan Dagangan untuk Pasaran Mata Wang Kripto pada 4 April

Bitcoin dan Ethereum sekali lagi berjaya menahan tekanan yang ketara, yang dikenakan ke atas kedua-duanya semalam pada penghujung hari susulan kejatuhan besar dalam pasaran saham AS — sebuah pasaran yang

Miroslaw Bawulski 09:09 2025-04-04 UTC+2

Bitcoin sekali lagi kalah dalam pertempuran

Kedua-dua Bitcoin dan Ethereum menunjukkan kekuatan mereka sebentar semalam di tengah sesi AS sebelum kenyataan Trump dan pengenalan tarif. Namun, permintaan terhadap aset berisiko kemudian menurun. Walaupun tarif tersebut berkemungkinan

Jakub Novak 11:36 2025-04-03 UTC+2

Cadangan Dagangan untuk Pasaran Mata Wang Kripto pada 3 April

Bitcoin dan Ethereum meningkat bahkan sebelum keputusan Trump dan pengumuman tarif perdagangan, tetapi tekanan pada aset berisiko meningkat dengan ketara setelah itu. Sukar untuk mengatakan bahawa tarif yang baru diumumkan

Miroslaw Bawulski 09:02 2025-04-03 UTC+2

Analisis BTC/USD. 2 April. Bitcoin Juga Takut dengan Tarif Trump

Corak gelombang pada carta 4 jam BTC/USD kelihatan jelas. Selepas melengkapkan satu aliran menaik yang terdiri daripada lima gelombang penuh, fasa pembetulan menurun telah bermula—dan masih berterusan. Berdasarkan struktur

Chin Zhao 12:17 2025-04-02 UTC+2

Cadangan Dagangan untuk Pasaran Matawang Kripto pada 2 April

Bitcoin dan Ethereum bertahan pada kedudukan mereka menjelang suatu acara besar yang boleh mengubah landskap dagangan global. Satu lagi percubaan gagal oleh Bitcoin untuk menetapkan di atas paras $85,500 membawa

Miroslaw Bawulski 08:50 2025-04-02 UTC+2

Ethereum Jatuh. Bitcoin Kurang Terjejas

Walaupun pelancaran naik taraf ujian Pectra yang berjaya di ujian rangkaian baharu Hoodi—berkemungkinan langkah terakhir sebelum melancarkan kemas kini ke rangkaian utama Ethereum yang bertujuan untuk meningkatkan kebolehskalaan, pegangan

Jakub Novak 08:01 2025-03-28 UTC+2

Tip Dagangan untuk pasaran kripto pada 28 Mac

Bitcoin dan Ethereum sedang bergelut untuk terus bertahan. Usaha Bitcoin yang gagal sekali lagi untuk kekal di paras $88,000 menyebabkan ia dijual semasa sesi dagangan Asia hari ini. Ethereum mengalami

Miroslaw Bawulski 07:34 2025-03-28 UTC+2

Rang Undang-Undang Peraturan Kripto AS Bergerak Maju dengan Pantas

Penggubal undang-undang di AS sedang bergerak pantas untuk meluluskan undang-undang yang bertujuan mengawal selia aset digital. Pengundian bagi rang undang-undang stablecoin dan versi disemak semula bagi rang undang-undang struktur pasaran

Jakub Novak 10:52 2025-03-27 UTC+2

Analisis BTC/USD. 27 Mac. Bitcoin kekurangan potensi pertumbuhan

Struktur gelombang pada carta 4 jam BTC/USD adalah agak jelas. Selepas menyempurnakan aliran menaik yang terdiri daripada lima gelombang penuh, satu fasa pembetulan menurun telah bermula dan kini mengambil bentuk

Chin Zhao 08:31 2025-03-27 UTC+2

Cadangan Dagangan untuk Pasaran Mata Wang Kripto pada 27 Mac

Bitcoin dan Ethereum menghadapi cabaran dalam mengekalkan momentum kenaikan mereka. Walau bagaimanapun, ini nampaknya lebih kepada reaksi terhadap kenyataan politik terkini Donald Trump—yang menyebabkan penurunan permintaan untuk aset berisiko—daripada sesuatu

Miroslaw Bawulski 08:06 2025-03-27 UTC+2
Tidak boleh bertanya sekarang?
Tanya soalan anda di Ruangan bersembang.
Panggilan semula Widget
 

Dear visitor,

Your IP address shows that you are currently located in the USA. If you are a resident of the United States, you are prohibited from using the services of InstaFintech Group including online trading, online transfers, deposit/withdrawal of funds, etc.

If you think you are seeing this message by mistake and your location is not the US, kindly proceed to the website. Otherwise, you must leave the website in order to comply with government restrictions.

Why does your IP address show your location as the USA?

  • - you are using a VPN provided by a hosting company based in the United States;
  • - your IP does not have proper WHOIS records;
  • - an error occurred in the WHOIS geolocation database.

Please confirm whether you are a US resident or not by clicking the relevant button below. If you choose the wrong option, being a US resident, you will not be able to open an account with InstaForex anyway.

We are sorry for any inconvenience caused by this message.