Fun

News Feed - 2023-11-24 08:11:07

William Suberg12 hours agoBitcoin buyer pushes BTC price past $38K as traders demand key breakoutBitcoin briefly spikes above the $38,000 mark as a new low-timeframe BTC price battle breaks out.3929 Total views19 Total sharesListen to article 0:00Market UpdateJoin us on social networksBitcoin (BTC) bulls kept the pressure on 18-month highs on Nov. 24 as analysis eyed buyer interest spiking.BTC/USD 1-hour chart. Source: TradingViewBitcoin fights for new 18-month high


Data from Cointelegraph Markets Pro and TradingView showed the BTC price trajectory heading upward into the Wall Street open.


The largest cryptocurrency saw increasing momentum during the Asia trading session, this nonetheless with its roots on derivatives markets.


Following the action, popular trader Skew confirmed that a single entity was likely behind the latest charge on $38,000.


“Some buyer probably single buyer is trying to push the market higher here ~ clear correlation between spot & perp CVDs / Delta,” he wrote in part of his latest post on X (formerly Twitter.)$BTC Update

Looking like there"s some direction buyer again here on binance - they"re bidding spot & opening a long

Shorts on bybit perps continue to get hunted

Market CVDs & Delta

Some buyer probably single buyer is trying to push the market higher here ~ clear correlation… https://t.co/Hu6FNp1Ltc pic.twitter.com/5KaODZC7Hv— Skew Δ (@52kskew) November 24, 2023


Skew subsequently revealed the long BTC position had been closed, and with momentum flagging, a higher high (HH) was needed on lower timeframes — beyond the current $38,000 ceiling. At the time of writing, this was in progress.$BTC

Looks like binance long has closed out, so they could have just engineered liquidity to get some asks filled

LTF CVDs

So first thing here is CVDs are higher vs price so there"s some momentum behind this move however, yet to be seen without another HH

Secondly, spot… pic.twitter.com/regcjdj2tw— Skew Δ (@52kskew) November 24, 2023


Zooming out, others were still optimistic about resistance levels ultimately falling. For Michaël van de Poppe, founder and CEO of trading firm MN Trading, it was all about the $40,000 mark.


“Still so far, so good on Bitcoin,” he told X subscribers on the day.“Slowly grinding upwards to a new resistance point and a break above $38K immediately means $40K is next.”BTC/USD annotated chart. Source: Michaël van de Poppe/X


Fellow popular trader Daan Crypto Trades meanwhile described $38,000 as the line in the sand after which “easy mode” returns to Bitcoin trading. The corresponding level on Ether (ETH), he added, was $2,150.About turn at $40,000?


Some market participants believe that a fresh BTC price retracement will enter following an initial foray into the area around $40,000.


Related: Bitcoin to $1M post-ETF approval? BTC price predictions diverge wildly


Among them is popular trader Crypto Tony, who, on the day, suggested that even $39,000 could prove a short-term turning point.$BTC / $USD - Update

My plan has not changed, pump us to $39,000 - $40,000 then drop please pic.twitter.com/AJkLRmD4U5— Crypto Tony (@CryptoTony__) November 24, 2023


$39,000, meanwhile, stands out for a variety of reasons, including the aggregate profitability of those who bought BTC during the 2021 bull market.


Elsewhere, encouraging signs from Bitcoin’s relative strength index (RSI) continued to provide bulls with fuel for further upside.BTC/USD 1-day chart with RSI. Source: TradingView


This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.# Bitcoin# Bitcoin Price# MarketsAdd reactionAdd reactionRead moreBitcoin supercycle 2024: Is this the cycle to end them all?Milei presidential victory fuels optimism in Argentina’s Bitcoin communityPrice analysis 11/22: BTC, ETH, BNB, XRP, SOL, ADA, DOGE, TON, LINK, AVAX

News Feed

Stablecoin pegged to Hong Kong dollar unveiled
Josh O"Sullivan12 hours agoStablecoin pegged to Hong Kong dollar unveiledJingdong Coinlink Technology Hong Kong Limited unveils its plan to issue a Hong Kong dollar stablecoin, aiming for secure and cost-effective paymen
SEC drops investigation into Ethereum: Law Decoded
David Attlee4 hours agoSEC drops investigation into Ethereum: Law DecodedA letter from Consensys states that the SEC’s approval of spot Ether exchange-traded funds indicated that it had “updated its position to class
Russian Court Sends 3 Crypto Robbers to Strict-Regime Prison
Russian Court Sends 3 Crypto Robbers to Strict-Regime Prison Three Russians are going to spend time in high-security prison for stealing over a million U.S. dollars’ worth of cry
William Suberg9 hours agoAI has potential to send Bitcoin price over $750K — Arthur HayesThe coming years will be explosive for AI, and even more so for Bitcoin, says the former BitMEX CEO.10139 Total views11 Total sha
Google Cloud Is Running a Solana Validator, Blockchain Node Engine to Support SOL Chain Next Year
Google Cloud Is Running a Solana Validator, Blockchain Node Engine to Support SOL Chain Next Year After Google Cloud announced that it would offer a product called the “Blockchai
Price analysis 3/11: SPX, DXY, BTC, ETH, BNB, SOL, XRP, ADA, DOGE, SHIB
Rakesh Upadhyay6 hours agoPrice analysis 3/11: SPX, DXY, BTC, ETH, BNB, SOL, XRP, ADA, DOGE, SHIBBitcoin is showing no signs of slowing down as demand for the spot Bitcoin ETFs remains robust. Can altcoins keep pace?4619
Payment infrastructure is key to bringing retail users to crypto
Peko Wan4 hours agoPayment infrastructure is key to bringing retail users to cryptoCrypto enthusiasts have been wondering why no one seems to be buying their coins this cycle. If people could use crypto for something, ma
David Attlee13 hours agoFrance updates its crypto licensing regime to synchronize with MiCAThe amendments will become obligatory starting Jan. 1, 2024, and must be taken into account in by applicants for enhanced DASP re
Data Lake’s Consent-to-Earn: A Revolutionary Model for Data Monetization?
Data Lake"s Consent-to-Earn: A Revolutionary Model for Data Monetization? sponsored During the last decade or so, data has become a hot topic and often a controversial one. As a res
Biggest Movers: LEO Hits 6-Week High, as NEAR Jumps Higher for Third Straight Session
Biggest Movers: LEO Hits 6-Week High, as NEAR Jumps Higher for Third Straight Session LEO rose to a six-week high on Wednesday, as prices rallied for a fifth consecutive session. T
Bitcoin, Ethereum Technical Analysis: BTC, ETH Enter August Trading Below $24,000 and $1,700 Respectively
Bitcoin, Ethereum Technical Analysis: BTC, ETH Enter August Trading Below $24,000 and $1,700 Respectively Bitcoin was trading marginally lower to start the week, as prices of the t
Turner Wright9 hours agoRobinhood bought back Sam Bankman-Fried’s stake from US gov’t for $606MThe purchase of the 55 million Robinhood shares had been expected following approval from the company’s board and a U.S