Bitcoin Price Can Hit $8.8K But BitMEX Signals Warning — Tone Vays
William Suberg's original article for cointelegraph.com reduced by 72%
Bitcoin clinched a third day trading above $8,000 on Jan. 13 as weekend trading failed to take away bullish momentum. After exiting the $7,000 range on Friday, Bitcoin managed to retain higher levels, with only one brief trip below $8,000 late Sunday.
Volatility was notably absent over the weekend, with BTC/USD staying within a corridor of around $250. With further upside a possibility, traders were attempting to discern the likelihood of Bitcoin either cementing its gains or abandoning its upward trajectory. "The oscillators on the daily chart are pretty much all bullish except the BitMEX funding rate - the BitMEX funding rate is actually very, very important, and it's usually the opposite of what everyone's been doing," he summarized in the latest episode of his Trading Bitcoin YouTube series on Sunday.
Going forward, he identified the next serious area of resistance at $8,800, but beneath that, there was relatively little standing in the way for Bitcoin. Cointelegraph contributor Keith Wareing additionally stated that Bitcoin could dip as low as $4,000 by April. Joe007 was unfazed by upticks in certain altcoins last week, such as Bitcoin SV, Dash and Dogecoin.
Donate Bitcoin to this address
Scan the QR code or copy the address below into your wallet to send Bitcoin
Donate Ethereum to this address
Scan the QR code or copy the address below into your wallet to send Ethereum
Donate With MetaMask
Donate ETH With MetaMask
Alternatively, support us by using the following referral links:
CN [too long; didn’t read]
Summarised crypto news.