No Result
View All Result
Monday, February 6, 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 Weekly Forecast: BTC bears eye $17,500s if buyers do not step in here

LiveBetPro by LiveBetPro
September 2, 2022
in Bitcoin
0
bitcoin
189
SHARES
1.5k
VIEWS

Bitcoin is chained to $20K, and that’s good

(Alexander Kuptsikevich – FxPro Financial Services Limited)

Market picture 

Bitcoin remains firmly anchored to the psychologically significant $20K round level, changing by only fractions of a per cent for almost a week. Ethereum continues to draw green candles, but this is more than nominal growth, also within fractions of a per cent, while the price is still hovering around $1580. Of the top altcoins, Polygon stands out, adding 5% in a day and 8.3% in seven days. The others are down over the last seven days.

Related articles

bitcoin

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

February 3, 2023
bitcoin

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

February 3, 2023

Total crypto market capitalisation, according to CoinMarketCap, added 0.9% overnight to $984bn.

Despite recent stock indices’ notable drop, BTC has been hovering near the circular $20,000 level for almost a week. The last time there was such a prolonged lull was in June 2020, when it stretched out for almost a month. Current trends indicate that bitcoin is a leading indicator for the stocks rather than following them. If this connection persists, the resilience of the most crowded with institutions, BTC and ETH, indicates that risk appetite continues, which gives an encouraging signal for the stock market.

News background 

According to Bank of America, Crypto investors are switching to Stablecoin as they wait for the market crisis to continue.

The Attorney General of Washington has filed a lawsuit against Michael Saylor and the MicroStrategy company he used to run for $25 million in tax evasion.

Dogecoin co-founder Billy Marcus ridiculed former Microstrategy CEO Michael Saylor for being overly enthusiastic about the first cryptocurrency. Saylor called bitcoin “a miracle happening right before people’s eyes”.

Finally, South Korean tech giant LG Electronics is preparing to launch a cryptocurrency wallet, Wallypto, based on the Hedera Hashgraph network in the third quarter of 2022. 

Bitcoin Weekly Forecast

(Akash Girimath – FXStreet)

– Bitcoin price has breached a crucial support level at $21,535 but currently sits above a relatively stable barrier at $19,540.

– From a long-term perspective, things are still bearish and could revisit the range low at $17,585.

– A daily candlestick close above $24,989 will invalidate the bearish outlook and trigger a recovery rally.

Bitcoin price shows an ongoing consolidation as it hovers at the same level for the past six days with no signs of directional bias. A breakout from this tightening range could result in a bearish move that eyes a sweep of the sell-stop liquidity below recent lows.

Bitcoin price at inflection point

Bitcoin price shows tight consolidation after it recently broke out of another range-bound movement on August 26. This crash has pushed BTC below the point of control (POC) at $21,535, which is the highest traded volume level since 2022. 

Due to the bearish outlook in the crypto markets, if buyers fail to step in, it will result in another leg down that pushes Bitcoin price to the range low of $17,585. This 12% downswing could be met by buying pressure from investors looking to purchase BTC at a discounted price.

BTCUSD

From an on-chain perspective, this bearish outlook is likely to occur sooner rather than later. IntoTheBlock’s Global In/Out of the Money (GIOM) model shows that the immediate support level at $18,925 is weak relative to the resistance cluster at $23,629.

The former only contains 673,210 addresses holding 421,840 BTC, while the latter cluster contains 2.73 million BTC purchased by roughly 4.41 million addresses. This outlook suggests that a downswing is more likely to occur, especially if there is a sudden spike in selling pressure.

Interestingly, the next support cluster extends from $9,470 to $17,945, where nearly 5 million addresses purchased 1.67 million BTC at an average price of $11,881. Therefore, a breakdown of $18,900 could result in a steep correction to levels last seen roughly two years ago.

BTCUSD

However, the bearish outlook could be sidestepped if bulls make a comeback at the current level. The first confirmation of an uptrend or a recovery rally would come from Bitcoin price flipping above the POC at $21,535, as seen in the chart above.

Additionally, the one-hour chart shows that Bitcoin price is yet to collect the buy-stop liquidity resting above equal highs formed at $21,874. A sweep below the $19,511 level could, therefore, provide the needed buy signal that could potentially forecast a move to the liquidity just above $21,874. 

BTCPERP

On the other hand, if Bitcoin price fails to hold above the $18,900 level, on-chain metrics forecast a 36% crash to $11,881. Interestingly, this level coincides with the technical outlook, which forecasts a crash to the support level at $11,898.

Note:

The video attached below explains the potential outcomes Bitcoin price could go through from a short-term and long-term perspective.

Read Cardano price: Vasil hard fork and Robinhood listing prepare ADA for rally to $2

Post Views: 159

Related posts:

bitcoinBitcoin Weekly Forecast: BTC distribution cycle reaches its first target, here’s what to expect next bitcoinInvestors’ guide on navigating Bitcoin price volatility through multiple scenarios BTCPERPBitcoin Price Prediction: An update on the fractal forecast to $21,000 BTCUSDBitcoin braces for US inflation data as CPI nerves halt BTC price gains bitcoinIs this Bitcoin price’s last line of defense? bitcoinBitcoin price is in limbo, but here are the levels to watch bitcoinBitcoin Weekly Forecast: Exploring 2022, the year of BTC fractals bitcoinBitcoin price could slide to $17,500 as regulators consider tightening rules around leverage
Tags: Bitcoin is chained to $20KBitcoin priceBitcoin price at inflection pointBTCPERP newsBTCUSD newsMarket picture

Related Posts

bitcoin

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

by LiveBetPro
February 3, 2023
0

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

bitcoin

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

by LiveBetPro
February 3, 2023
0

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

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...

bitcoin

Bitcoin UTXOs older than five years surged during bear market

by LiveBetPro
February 1, 2023
0

(CoinDesk Analysis Team) If you have been following Crypto Twitter for some time, you have probably seen several tweets claiming continued bitcoin...

bitcoin

Bitcoin gains 2%, and stocks drop as the Bank of Japan allows benchmark bond yields to rise

by LiveBetPro
January 11, 2023
1

(CoinDesk Analysis Team) Bitcoin (BTC) traded higher early Tuesday, defying the Bank of Japan (BOJ)-inspired slump in stock markets. The BOJ...

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

Freebitco Review – Discover Multiple Ways To Earn Free Bitcoins

June 4, 2022
earn-free-bitcoins-daily-without-investment-2022

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

July 2, 2022
Are-Your-Investments-Safe-with-Crypto-Trading-Bots

Are Your Investments Safe with Crypto Trading Bots?

June 8, 2022
faucet-main

What Are Crypto Faucets ?

May 23, 2022
bitcoin

Bitcoin

115
Ethereum

Ethereum

57
How-To-Use-Crypto-Online-Gambling-Websites

How To Use Crypto Online Gambling Websites

44
8-Tips-On-How-To-Make-Money-Sports-Betting

8 Tips On How To Make Money Sports Betting

44
bitcoin

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

February 3, 2023
bitcoin

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

February 3, 2023
bitcoin

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

February 2, 2023
crypto

Here’s why India held on to older crypto reforms in the national budget 2023

February 2, 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

  • Bitcoin Weekly Forecast: Nonfarm Payrolls on the radar after Powell’s speech propels BTC higher
  • Bitcoin bulls must reclaim these 2 levels as the ‘death cross’ still looms
  • Bitcoin, S&P 500 close in on bullish ‘golden cross’ signal
  • Here’s why India held on to older crypto reforms in the national budget 2023
  • Bitcoin UTXOs older than five years surged during bear market
  • If Ethereum withdrawals are enabled today $1.5 billion in ETH would be on the move, here’s why this matters
  • Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Crypto rally built on house of cards, collapse imminent
  • ARK makes coinbase buy as coin jumps 20% on-week
  • Ethereum Shanghai hard fork and token unlock: A complete guide to unstaking ETH
  • LTC/USD – Forecasting the wave (five) within the second dimension correlation

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