No Result
View All Result
Tuesday, March 21, 2023
  • Login
LiveBetPro - Soccer Betting Tips, Crypto Casino, Crypo Exchanger
  • Home
  • Crypto Casinos
    • Best Cryptocurrency Casinos
  • Bookmakers
    • Top Online Bookmakers 2023
  • Exchanges
    • Best Cryptocurrency Exchanges
    • Best Crypto Derivatives Exchanges [2023]
    • 9 Best Bitcoin Exchanges
    • Bybit Review
    • Binance Review 2023
    • Coinbase Review [2023]
    • Gate.io Exchange Review [2023]
    • KuCoin Review 2023
    • BitYard Review [2023]
  • Scripts Bots
    • Seuntjies DiceBot
  • Betting Tips
  • Promotions
  • Contact Us
No Result
View All Result
  • Home
  • Crypto Casinos
    • Best Cryptocurrency Casinos
  • Bookmakers
    • Top Online Bookmakers 2023
  • Exchanges
    • Best Cryptocurrency Exchanges
    • Best Crypto Derivatives Exchanges [2023]
    • 9 Best Bitcoin Exchanges
    • Bybit Review
    • Binance Review 2023
    • Coinbase Review [2023]
    • Gate.io Exchange Review [2023]
    • KuCoin Review 2023
    • BitYard Review [2023]
  • Scripts Bots
    • Seuntjies DiceBot
  • Betting Tips
  • Promotions
  • Contact Us
No Result
View All Result
LiveBetPro - Soccer Betting Tips, Crypto Casino, Crypo Exchanger
No Result
View All Result
Home Bitcoin

Bitcoin bulls must reclaim these 2 levels as the ‘death cross’ still looms

LiveBetPro by LiveBetPro
February 3, 2023
in Bitcoin
0
bitcoin
189
SHARES
1.5k
VIEWS

(Cointelegraph Team)

Bitcoin BTC tickers down $23,787 face a sink-or-swim resistance test to confirm its “macro breakout,” a new analysis says.

Related articles

bitcoin

Bitcoin sees golden cross which last hit 2 months before all-time high

February 7, 2023
bitcoin

Bitcoin found an interesting support

February 7, 2023

In a tweet on Feb. 2, on-chain monitoring resource Material Indicators flagged key levels to flip to support after BTC/USD spiked above $24,000.

Bitcoin price gears up for trend line showdown

In what was ultimately a boon for Bitcoin bulls, the United States Federal Reserve delivered what risk-on traders wanted to hear on Feb. 1.

With Chair Jerome Powell using the word “disinflation,” hopes immediately began to bet on rate hikes ending sooner and easier monetary conditions returning in their place.

The mood was palpable across crypto, with BTC price action reversing an initial drop to see new six-month highs of $24,250 on Bitstamp.

While a subsequent correction took the largest cryptocurrency around $500 lower, the mood has since stayed buoyant.

For the good times to continue, however, Material Indicators believes that BTC/USD must now tackle two trend lines, which have formed resistance for much of 2022.

These are the 50-week and 200-week moving averages (WMAs), with bulls failing to retest them thus far, let alone flip them to support.

The 50WMA and 200WMA currently stand at $25,345 and $24,837, respectively, data from Cointelegraph Markets Pro and TradingView confirms.

“[BTC] must test key moving averages to confirm macro breakout or fakeout,” part of the commentary stated.

An accompanying chart showed the state of the Binance order book at the time, with resistance shifting higher to allow the spot price to rise with it. As Cointelegraph reported, this phenomenon had already been playing out prior to the Fed event.

Bitcoin

Continuing, Material Indicators described the subsequent BTC price run-up as a “Herd of Bulls Stampede Through the Gate” in the absence of resistance pressure.

“Whether it leads to the slaughterhouse or the auction house TBD at the 50WMA and 200WMA,” it added.

“Toppy signs” and “wild cards”

Currently, BTC/USD has spent longer than ever below the 200WMA, a key aspect of its 2022 bear market, which singled it out from others in its history.

Furthermore, the two WMAs in focus are forming what is known as a “death cross,” where the falling 50WMA crosses under the 200WMA.

Should this play out, analysts fear that it may engender a fresh downside, as was previously the case with events on lower timeframes,

“No doubt risk assets have been correlated, but BTC outperformed TradFi in January with a 40% rally,” Material Indicators co-founder, Keith Alan, commented prior to the Fed.

“Now, SPX has a triple top on the Monthly and BTC is headed for a Death Cross on the Weekly. These are toppy signs, but the FED, FANG and labor market are dealing wild cards.”

Bitcoin

Read Bitcoin Weekly Forecast: Nonfarm Payrolls on the radar after Powell’s speech propels BTC higher

Post Views: 107

Related posts:

bitcoinInvestors’ guide on navigating Bitcoin price volatility through multiple scenarios bitcoinThese two metrics may help traders squeeze in more gains as Bitcoin price finds solid footing bitcoinFirst Mover Asia: Waves founder defends USDN stablecoin depegging, Bitcoin burrows in above $20K btcBitcoin price takes a small detour, but is $25,000 scenario still valid? bitcoin‘The bond market bubble has burst’ – Five things to know in Bitcoin this week bitcoinBitcoin ‘bear trap’ sees BTC price near $20K as daily gains top 9% bitcoinBitcoin Weekly Forecast: Can BTC rally before the next Fed meeting? bitcoinBitcoin Weekly Forecast: Assessing the likelihood of an 80% rally for BTC before 2023
Tags: Bitcoin price

Related Posts

bitcoin

Bitcoin sees golden cross which last hit 2 months before all-time high

by LiveBetPro
February 7, 2023
0

(Cointelegraph Team) Bitcoin (BTC $23,016) lingered near $23,000 on Feb. 7 as a key chart phenomenon hit for the first...

bitcoin

Bitcoin found an interesting support

by LiveBetPro
February 7, 2023
1

(Gregor Horvat - Wavetraders) Bitcoin has been in a massive decline over the last year, but it stopped at interesting technical support levels,...

bitcoin

Bitcoin price over $20K creates FOMO with 620K new BTC wallets

by LiveBetPro
February 6, 2023
1

(Cointelegraph Team) The Bitcoin (BTC $22,825) price surge above $20,000 in the second week of January led to a market...

bitcoin

Bitcoin Weekly Forecast: Nonfarm Payrolls on the radar after Powell’s speech propels BTC higher

by LiveBetPro
February 6, 2023
0

(Akash Girimath - FXStreet) - Bitcoin price confuses traders between tagging $25,000 or retracing to $18,600. - Nonfarm Payrolls and...

bitcoin

Bitcoin, S&P 500 close in on bullish ‘golden cross’ signal

by LiveBetPro
February 2, 2023
1

(CoinDesk Analysis Team) Bitcoin (BTC) and Wall Street's benchmark equity index, the S&P 500, are on the verge of hitting...

Load More
  • Trending
  • Comments
  • Latest
freebitco-Multiply BTC

Freebitco Review – Discover Multiple Ways To Earn Free Bitcoins

June 4, 2022
Are-Your-Investments-Safe-with-Crypto-Trading-Bots

Are Your Investments Safe with Crypto Trading Bots?

June 8, 2022
earn-free-bitcoins-daily-without-investment-2022

How can I get free bitcoin without investment [2022]?

July 2, 2022
faucet-main

What Are Crypto Faucets ?

May 23, 2022
bitcoin

Bitcoin

118
Ethereum

Ethereum

58
How-To-Use-Crypto-Online-Gambling-Websites

How To Use Crypto Online Gambling Websites

47
8-Tips-On-How-To-Make-Money-Sports-Betting

8 Tips On How To Make Money Sports Betting

47
livebetpro-tips

Soccer Prediction Betting Tips 20032023

March 20, 2023
livebetpro-tips

Soccer Prediction Betting Tips 14032023

March 15, 2023
livebetpro-tips

Soccer Prediction Betting Tips 13032023

March 14, 2023
livebetpro-tips

Soccer Prediction Betting Tips 25022023

February 26, 2023

Connect with LiveBetPro.com

telegram twitter

Now online

livebetpro

Livebetpro Information

Address: Ho Chi Minh City, Vietnam, 70000

Contact Us:

– Skype: fxvnpro
– Email:
livebetpro@gmail.com
admin@livebetpro.com

Payment Methods

– Webmoney
– Perfect Money
– Skrill
– Neteller
– Bank Wire
– Bitcoin

Disclamers

Any promotions, reviews, and other information in the website are just for the information purpose only.

There is no invitation or encouragement to invest in Casinos, Bettings, Cryptocurrencies and so on. We disclaim liability for any loss resulting from the use of information contained on this website.

The published comments are private opinions or feedback of the users. Livebetpro is not responsible for any information on the website.

Risk Warning

Please be aware of your investment into bettings/casinos/cryptos which is high risk and not suitable for everyone.

Recent Posts

  • Soccer Prediction Betting Tips 20032023
  • Soccer Prediction Betting Tips 14032023
  • Soccer Prediction Betting Tips 13032023
  • Soccer Prediction Betting Tips 25022023
  • Dice Strategies for Stake.com – Tips and Approaches
  • Maximize Your Gambling Experience with BC.Game – The Top-Rated Crypto Casino
  • Paypal Suspends Stablecoin Development Due to NYDFS Examination
  • The 5 Best Crypto Coins for Crypto Gaming
  • Evolution of Crypto – Its Advantages Over Traditional Fiat Currencies
  • BNB/USD (Binance) Elliott Wave analysis – Turn the higher taking place

Categories

  • Affiliate Programs
  • Betting Tips
  • Bitcoin
  • Blockchain
  • Blockchain Gaming
  • Crypto
  • Crypto Casinos
  • crypto lending platform
  • Crypto Mining
  • Crypto Trading
  • Crypto Trading Bots
  • Crypto Wallets
  • Cryptocurrency Price analysis and Prediction
  • DeFi
  • Earn Free Crypto
  • Ethereum
  • Exchanges
  • Faucets
  • Investment News
  • NFT
  • Promotions
  • Ripple
  • Scripts Bots
  • sport betting
  • USDT
  • Web3
  • XRP
  • About
  • FAQ
  • Contact Us

© 2022 by LiveBetPro.

No Result
View All Result
  • Contact Us
  • Homepages

© 2022 by LiveBetPro.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Warning: array_sum() expects parameter 1 to be array, null given in /home/betbonus/livebetpro.com/wp-content/plugins/jnews-social-share/class.jnews-social-background-process.php on line 111