2 years ago
Damanick is simply a crypto marketplace expert astatine CoinDesk wherever helium writes the regular Market Wrap and provides method analysis. He is simply a Chartered Market Technician designation holder and subordinate of the CMT Association. Damanick is besides an equity/fixed income portfolio manager and does not put successful integer assets.
Bitcoin (BTC) remains successful a choky trading scope with support astatine $37,500 and archetypal resistance astatine $43,000.
The cryptocurrency was trading astir $39,000 astatine property clip and is down 2% implicit the past week. BTC appears to beryllium stabilizing connected intraday charts, though upside could beryllium constricted into the Asia trading day.
Momentum signals person weakened implicit the past week, which typically precedes a play of level to antagonistic terms action. For now, buyers person kept prices anchored astir the $40,000 terms level, albeit unwilling to decisively interruption supra the $46,710 absorption level implicit the past 3 months.
A antagonistic speechmaking connected play momentum indicators is connected watch, which could summation the accidental of a terms breakdown.
Still, BTC is simply a fewer days distant from registering a bullish countertrend signal, per the DeMARK indicators, which could hold the enactment of an intermediate-term downtrend.
The existent terms enactment is akin to what occurred successful 2018 and 2019, which was a agelong play of choppy trading and comparatively debased returns, akin to equities. At that point, the bitcoin terms scope was astir $6,000 to $9,000.
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Damanick is simply a crypto marketplace expert astatine CoinDesk wherever helium writes the regular Market Wrap and provides method analysis. He is simply a Chartered Market Technician designation holder and subordinate of the CMT Association. Damanick is besides an equity/fixed income portfolio manager and does not put successful integer assets.
Damanick is simply a crypto marketplace expert astatine CoinDesk wherever helium writes the regular Market Wrap and provides method analysis. He is simply a Chartered Market Technician designation holder and subordinate of the CMT Association. Damanick is besides an equity/fixed income portfolio manager and does not put successful integer assets.
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