A single brief spike above the $17,000 mark failed to last, the pair returning to familiar territory from the past week.
For popular traders, there was a lack of consensus, with some calling for an eventual breakout to the upside and others“I’d want it to hold $16.7K in order to see continuation on Bitcoin,” Michaël van de Poppe, founder and CEO of trading firm Eight,“For now, it’s fine. Some sideways consolidation, before breaking $17K for further continuation to $17.5-17.7K.”on the potential for a rethink once $17,500 hit, while Crypto Tony also eyed that zone as a line in the sand.
“Holding that EQ would still present a good opportunity for us to pump to the supply zoned around $17,300 - $17,600. My stop loss on my short is if we close above $17,600,” heTrading resource Game of Trades, meanwhile, eyed the potential for the S&P 500 to punish bears next.alongside a put/ call ratio chart for the index:S&P 500 aggregated put/ call ratio annotated chart.
Far from bullish, on the other hand, Il Capo of Crypto warned that a downside move would take market participants by surprise., echoing a tone in place for much of the year.that “some altcoins leading the drop already, breaking key supports and most of them making new lows.” the day prior, the U.S. dollar began to consolidate after seeing a fresh drop.The U.S. Dollar Index , ostensibly still inversely correlated to crypto markets, focused on the 104 mark at the time of writing.
I am waiting for recovery and that is why I continue to actively spend usdt to buy bitcoin
It's hard to agree when we've been breaching this bottom from either side for months
Sideways for 1.5 years
Down
If the price of Bitcoin reaches 17,200 and goes down, then it will be possible to buy it for 14,500 or less
I think market going up in 1 hour time frame.
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