Bitcoin

<ul><li>Bitcoin nears key resistance trendline after multiple tests, indicating a strong downtrend.</li><li>New CME gap at $60,348 likely to be filled, acting as critical resistance/support.</li><li>Fear &amp; Greed Index at 30 shows market fear, hinting at potential Bitcoin rebound.</li></ul>Bitcoin’s technical analysis reveals movements and market sentiment shifts, indicating potential trends for the cryptocurrency. According to Crypto Rover’s <a href="https://x.com/rovercrc/status/1806969101241442433" rel="noopener noreferrer nofollow">observation</a>, Bitcoin’s price is nearing a crucial resistance level. The red trendline, connecting a series of lower highs, indicates a persistent downtrend. This trendline acts as resistance, and <a href="https://cryptotale.org/bitcoin-dominance-dips-as-solana-ethereum-and-dogecoin-rally/" rel="noopener noreferrer nofollow">Bitcoin</a> has tested it multiple times without success. Now, the price is once again close to this trendline, suggesting another test of this critical resistance level.<img src="https://lh7-us.googleusercontent.com/docsz/AD_4nXcm8ZStuzfuuEda_DOu1haP-pGVVDyyHX0HJ1K7CFGvS75X6TqELN-noZwYqbQcJ-wcduSBfpOe6tG8J8MykPNd_8GL1Ssjg6oeS0pXksPhbauDgdxVQOosztTtnCL4ZyIjz0V0J7MXeWR6WG5-3EFXUPtq?key&#61;IO8BnPp-eZ2jfBmpTYErnQ" />At the same time, Bitcoin is <a href="https://x.com/rovercrc/status/1806940626673688736" rel="noopener noreferrer nofollow">creating</a> a new CME gap at $60,348. CME gaps occur because Bitcoin futures on the Chicago Mercantile Exchange (CME) are not traded continuously. They close on weekends and holidays, leading to price gaps when trading resumes. The gap at $60,348 shows no trading activity within this price range.<a href="https://cryptotale.org/bitcoin-nears-critical-resistance-level-amid-new-cme-gap-and-market-fear/" rel="noopener noreferrer nofollow">Read more on CryptoTale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

Bitcoin Nears Critical Resistance Level Amid New CME Gap and Market Fear

CryptoTale

Alte articole publicate pe 1 iul. 2024

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