Bitcoin traders say $40K is the ‘line in the sand’ after BTC and stocks sell-off

  • 📰 Cointelegraph
  • ⏱ Reading Time:
  • 66 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 30%
  • Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

Global tensions don’t give a break and Bitcoin deflates just under $41K on February 17th, not giving a clear picture of the horizon.

shows that the crypto market was hit with a wave of selling beginning near midday on Feb. 17 that dropped BTC to a daily low of $40,743 before bulls bid the price back above $41,000.Here’s a look at what traders in the market are saying about the price dip for Bitcoin and what it means in the largeer scheme of things as global tensions ramp up.

Based on the red box highlighted by van de Poppe, Bitcoin would need a clear breakout above $50,000 to flip the bias toward bulls.“Nothing really changed. This one is still the one I'm looking at for Bitcoin in which I'd prefer to see a break of this weekly order block. If that doesn't happen, then I'm not bullish.”Evidence that even experienced traders can be caught off guard by sharp moves came from"Pentoshi," a pseudonymous Twitter user whoBTC/USD 1-day chart.

A final bit of perspective on what traders should keep in mind during times like these was offered by options trader and pseudonymous Twitter user John Wick, who posted the following tweet addressing concerns regarding rising U.S. interest rates and the situation between Russia and Ukraine.Russia and rate hikes are the variables.

We will have to just wait and see how it is all absorbed. Most news is overhyped and can eventually be faded.The overall cryptocurrency market cap now stands at $1.867 trillion and Bitcoin’s dominance rate is 41.8%. The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 562. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

fears and greeds always signs for preparing the accumulations and distributions, wait until the fears tank is full

This spring, no one should miss out on the many promotions available in the Uquid physical store for spring clothing.

Nothing is impossible! xrdoge

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin, Ethereum Technical Analysis: BTC, ETH Prices Fall Lower Against USD – Market Updates Bitcoin NewsCryptocurrency markets were trading lower for a second consecutive session, leaving bitcoin and ethereum both in the red. Huge drop We don't buy bitcoin We earn bitcoin from mining I’m ready to show anyone interested how to earn over 0.1BTC ($4200) without sending out funds to anyone. No referral No withdrawal fees If interested, send a DM. This is not so important. The main thing is that I have Bitcoin and I hold it on Bitfinex. Will ever rise. I will wait
Source: BTCTN - 🏆 531. / 51 Read more »