Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Bitcoin News & Updates => Topic started by: seje on June 11, 2021, 02:44:30 PM
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Bitcoin traders eye ‘crucial’ $38K level as BTC price action consolidates higher
Bitcoin escapes fresh losses... for now
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD retaining $35,000 support overnight on Thursday while so far staying clear of $40,000.
A push higher had taken the pair to $39,000 before the consolidation phase began, but overall, Bitcoin was yet to make a decisive move up or down on longer timeframes.
For popular trader Rekt Capital, $38,000 needed to be flipped to support.
“The ~$38,000 area for BTC is the one to watch right now,” he noted on Wednesday, noting its significance in the current consolidation cycle.
Sustained higher levels mean a retreat to $30,000 is looking less and less essential to preserve the bull market.
https://cointelegraph.com/news/bitcoin-traders-eye-crucial-38k-level-as-btc-price-action-consolidates-higher?_ga=2.96174492.1003613916.1623415221-1368150090.1619183828