Bitcoin

As the price of Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) continues to move in a choppy trend, <a href="https://finbold.com/cryptocurrencies/" rel="noopener noreferrer nofollow">cryptocurrency</a> analyst Michaël van de Poppe has revealed the flagship decentralized finance (<a href="https://finbold.com/guide/liquidity-mining-definition/" rel="noopener noreferrer nofollow">DeFi</a>) asset’s potential movements based on holding or failure to hold a specific price zone.Indeed, the <a href="https://finbold.com/guide/cryptocurrency-trading/" rel="noopener noreferrer nofollow">crypto trading</a> expert observed that Bitcoin’s must-hold zone is currently between $26,800 and $27,000 and that failure to remain here would mean that Bitcoin would “probably cascade towards &lt;$26,000 for a potential bullish divergence,” as he explained in a <a href="https://twitter.com/CryptoMichNL/status/1658359359489859584" rel="noopener noreferrer nofollow">tweet</a> posted on May 16.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/4890f47d14ab45fcbba5862005e84080.png" />Bitcoin price action analysis. Source: <a href="https://twitter.com/CryptoMichNL/status/1658359359489859584" rel="noopener noreferrer nofollow">Michaël van de Poppe</a>On the other hand, if Bitcoin manages to hold this level, Van de Poppe is certain that this “would be good” and would need to follow with a flip of $27,500 to trend further upwards.<h2 id="header-0">Bitcoin price analysis</h2>As things stand, Bitcoin is currently changing hands at the price of $27,105, which represents a decline of 1.14% on the day, as well as 1.86% across the previous week, as it adds up to the accumulated losses of 10.60% in the last month, as per most recent data retrieved by Finbold on May 16.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/2a50ebad9a294ae6aa07ae08aca5c68a.png" />Bitcoin 7-day price chart. Source: <a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">Finbold</a>Earlier, <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> analysts Ali Martinez and Stockmoney Lizards both had suggested that, despite opening the week with recovery, the maiden digital asset still had to reclaim the descending line at $28,500 as an important <a href="https://finbold.com/guide/support-and-resistance/" rel="noopener noreferrer nofollow">resistance</a> level before it could continue further up.On top of that, Martinez noted the most important support level at $26,490, and that failing to hold above this price could spark “a steeper correction to $24,100 or $23,190,” as Finbold <a href="https://finbold.com/bitcoin-wont-go-higher-until-it-reclaims-this-level/" rel="noopener noreferrer nofollow">reported</a> on May 15. As the latest data demonstrates, Bitcoin is successfully holding above this crucial support level.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on<a href="https://finbold.com/category/cryptocurrency-news/?utm_source&#61;CMC&amp;utm_medium&#61;social&amp;utm_campaign&#61;CMC&amp;utm_content&#61;long" rel="noopener noreferrer nofollow"> FInbold.com</a>

Bitcoin must hold this support to avoid crashing below $26k

목차

Finbold

2023년 5월 18일에 게재된 다른 기사

Uniswap Eyes Deployment On Moonbeam Parachain

Stakeholders Slam British Legislators’ Recommendation to Regulate Cryptocurrencies as Gambling

Bumper DAO Launched: Power to the People

Russian National Charged in US for Crypto-Ransomware Attack

Bitcoin surpasses one million “wholecoiner” milestone amid market volatility

BitBoy unexpectedly dumps BEN meme token stash for $78k

무료 뉴스레터에 가입하여 매일 최신 암호화폐 소식을 받아보세요!