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

Ekaterina Kiseleva,
Especialista em análise na InstaForex
© 2007-2025
Summary
Urgency
Analytic
Ekaterina Kiseleva
Start trade
Ganhe com as variações das taxas das criptomoedas com a InstaForex.
Baixe o MetaTrader 4 e abra a sua primeira operação.
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    PARTICIPE DO CONCURSO

Recommended Stories

Tether avança com confiança rumo à entrada no mercado dos EUA

O Bitcoin continua a ser negociado dentro do canal 116.500-120.000, mostrando uma sólida volatilidade. O Ethereum, no entanto, está tendo um desempenho de forma significativa pior após um recente declínio

Jakub Novak 17:41 2025-07-24 UTC+2

Recomendações de negociação para o mercado de criptomoedas em 24 de julho

O Bitcoin mais uma vez tentou ultrapassar os US$ 119.000, mas não conseguiu, recuando hoje para o nível de US$ 117.000. O Ethereum caiu novamente abaixo de US$ 3.600

Miroslaw Bawulski 17:24 2025-07-24 UTC+2

Recomendações de negociação para o mercado de criptomoedas em 23 de julho

O Bitcoin voltou a ultrapassar os US$ 119.000, ultrapassando brevemente a marca dos US$ 120.000, mas depois recuou para cerca de US$ 118.500. Isso indica uma dificuldade considerável em retornar

Miroslaw Bawulski 17:47 2025-07-23 UTC+2

Ethereum á vista segue captando novos investimentos.

Apesar do Ether ter caído abaixo da marca de US$ 3.700, os influxos líquidos nos ETFs de Ethereum à vista do atingiram US$ 533,9 milhões ontem, o terceiro maior influxo

Jakub Novak 17:46 2025-07-23 UTC+2

Ethereum é impulsionado por uma demanda crescente

Nas últimas semanas, o Ethereum demonstrou um crescimento acelerado, mas ainda não ultrapassou seu recorde histórico. Claramente, com o influxo de novos recursos financeiros no mercado, o Ethereum está passando

Jakub Novak 17:01 2025-07-23 UTC+2

Recomendações de negociação para o mercado de criptomoedas em 22 de julho

O Bitcoin mais uma vez não conseguiu se consolidar acima do nível de 19.000, caindo para a área de 16.000 durante a sessão asiática de hoje. O Ethereum também caiu

Miroslaw Bawulski 17:39 2025-07-22 UTC+2

Mercado cripto: altseason ganha força

O mercado de criptomoedas está dando fortes sinais de que está entrando em uma nova fase de altseason — um período de crescimento acelerado para as altcoins. Em meados

Jurij Tolin 17:25 2025-07-22 UTC+2

Bitcoin e Ethereum mantêm forte impulso

Após a assinatura de diversos atos legislativos na semana passada que regulamentam o setor de criptomoedas nos Estados Unidos, o Bitcoin e o Ethereum vêm demonstrando sólida confiança. Essa medida

Jakub Novak 14:45 2025-07-22 UTC+2

Trading Recommendations for the Cryptocurrency Market on July 21

Bitcoin spent the weekend relatively calmly, trading within the range of $ 117,000 to $ 118,500, while Ethereum posted a solid gain, updating its monthly high to around $ 3,800

Miroslaw Bawulski 18:29 2025-07-21 UTC+2

Bitcoin: fim das correções profundas e dos invernos cripto

Depois de uma breve pausa em resposta às notícias de sexta-feira sobre a assinatura pelo presidente Trump de três novos projetos de lei que regulam o mercado de ativos digitais

Jakub Novak 15:30 2025-07-21 UTC+2
Não pode falar agora?
Faça sua pergunta no chat.
Widget callback
 

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.