ווי די קריפּטאָקוררענסי מאַרק continues to switch between the red and green waves in an effort to overcome the consequences of the FTX-induced collapse that has wreaked havoc across the landscape, analysts are trying to predict the future of Bitcoin (בטק).
יעצט, ביטקאָין איז פייסינג קעגנשטעל at $17,600, which is the “wick low from June” 2022, as קריפּטאָ טריידינג expert Matthew Hyland explained using a טשאַרט מוסטער analysis in a טוויט ארויס דעם 2טן דעצעמבער.
זאָל ביטקאָין overcome this resistance, it could potentially continue its move upward, which was recently cut short after the flagship decentralized finance (דעפי) asset dropped below the $17,000 level. לויט to crypto analyst וואָנצעס, the “final decision [will be] at $18.500-$18.700,” taking into account the Wyckoff Method analysis.
Consolidating under the macro factors
דערווייַל, קאַמענטינג on the price movements of the maiden קריפּטאָקוררענסי from the day before, another crypto trading expert, Michaël van de Poppe, said:
“Bitcoin tested the [previous] resistance, took the high, and corrected after a terrible ISM PMI of 49.0. Probably just some healthy consolidation before continuation on the trading takes place. לאַנג still exists.”
He was referring to the Insitute for Supply Management (ISM)’s monthly purchasing managers’ index (פּמי), an indicator of the United States’ economic activity based on a survey of purchasing managers in over 300 manufacturing companies.
According to the ISM: “A Manufacturing PMI reading above 50% indicates that the manufacturing economy is generally expanding; below 50% indicates that it is generally declining.” For November, the PMI amounted to 49%.
Later, Van de Poppe רייטערייטיד his view that “Bitcoin is consolidating nicely here and the game still stands,” despite “boring markets.”
ביטקאָין פּרייַז אַנאַליסיס
At press time, Bitcoin is trading at $16,971, which represents a decline of 0.75% on the day but still an increase of 3% across the previous seven days as it tries to recover from the loss of 16.86% on its monthly chart, as per data retrieved by Finbold on December 2.
אין די קוק of crypto analyst קאַלעאָ, the largest crypto by market capitalization ($326.22 billion), changing hands at the current level is the perfect opportunity for ינוועסטערז to buy it, as he stressed that “Bitcoin under $20K is a gift. Stack it while you can.”
אָפּלייקענונג: דער אינהאַלט אויף דעם פּלאַץ זאָל ניט זיין געהאלטן ינוועסמאַנט עצה. ינוועסטינג איז ספּעקולאַטיווע. ווען ינוועסטינג, דיין קאַפּיטאַל איז אין ריזיקירן.
Source: https://finbold.com/bitcoins-next-bullish-advance-requires-breaking-over-this-crucial-barrier/