Bitcoin

Secure

Material

Rekt

<h2 id="key-points">Key Points</h2>
<ul>
 <li>Bitcoin (BTC) price returned to $63,000 on May 10 with overhead liquidity surpassing $100 million.</li>
 <li>Despite fluctuations, the cryptocurrency continues to hold strong, according to trading resource Material Indicators.</li>
</ul>
<p>Bitcoin’s value surged back to $63,000 on May 10, as overhead liquidity went beyond $100 million.</p>
<h2 id="bitcoin-s-liquidity-battle">Bitcoin’s Liquidity Battle</h2>
<p>The BTC/USD value spiked to local highs of $63,876 on Bitstamp before consolidating. The price had improved after hitting lows below $61,000, a weakness that persisted despite strong U.S. unemployment figures.</p>
<p>Material Indicators, a trading resource, highlighted a significant increase of ask liquidity just above the spot price. This liquidity ranged between $63,000 and $65,000, totaling over $100 million on the day.</p>
<h2 id="bitcoin-s-potential-support-levels">Bitcoin’s Potential Support Levels</h2>
<p>Keith Alan, co-founder of Material Indicators, provided an extended analysis of potential support levels if <a href="https://crypto.ro/en/cryptocurrencies/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> experiences another downward slump. He suggested that the historical consolidation range of $58k – $60k would be the first obvious targets.</p>
<p>Alan stressed the importance of the 21-week simple moving average (SMA), currently at $56,127, with $52,000 coming into play if that level fails to hold. He added that if the price drops below $58k, sentiment might strengthen in the $50k – $52k range or start shifting towards the mid $40s.</p>
<p>Rekt Capital, a popular trader and analyst, saw little signs of upheaval, stating that “Bitcoin is still simply holding the Range Low as support, following the downside wick from last week.” He also suggested that this year’s block subsidy halving did not fundamentally differ from previous halvings.</p>

Bitcoin Struggles to Secure $60K Backing As It Approaches a $100M Liquidity Region

Spis treści

crypto.ro global

Inne artykuły opublikowane 10 maj 2024

Disappointment Clouds Friend Tech v2 Launch Despite Exciting New Features

Study Reveals AI Can Accurately Predict Human Age by Analyzing Hands

Bitcoin Bearish Signal: Analyst Predicts Potential Dip To $52,000

Binance Settles for $1 Billion, Introduces Oversight

Pantera Capital TON Investment Driven To Enhance P2P Payment Capabilities

The decentralization dilemma: Sacrifices to be made on the way to freedom

Zapisz się na bezpłatny newsletter i otrzymuj codzień aktualności ze świata kryptowalut!