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) has maintained support supra $37,500 implicit the past month, indicating a nonaccomplishment of downside momentum connected the charts.
The cryptocurrency was trading astir $41,300 astatine property clip and is astir level implicit the past 24 hours. On intraday charts, however, BTC appears to beryllium overbought, which could concisely stall the existent upswing successful price.
A bid of higher terms lows since Jan. 24 suggests continued buying involvement astir the $32,000-$37,500 enactment zone, which is the bottommost of a year-long terms range.
The adjacent large resistance level is seen astatine $46,700, which has capped terms rallies implicit the past fewer months. Typically, terms rises statesman to stall aft retracing astir 38% to 50% of the prevailing downtrend, akin to what occurred successful September of past year.
Still, the important slowdown successful BTC's semipermanent uptrend suggests upside could beryllium constricted implicit the adjacent fewer months.
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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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