Connect with us

Cryptocurrency

Critics can’t stop NFTs from becoming a mainstay of everyday life

Avatar

Published

on

Non-fungible symbols are more than just boring monkeys. They perform a range of functions better than current systems.

Source link

Advertisement
Continue Reading
Advertisement
Click to comment

Leave a Reply

Your email address will not be published.

Cryptocurrency

Bitcoin price targets extend to $19k as BTC jumps 4% from daily lows

Avatar

Published

on

bitcoin (BTC) remained higher after buying $17,000 in liquidity on December 9 as traders targeted more upside.

BTC/USD 1-hour candlestick chart (Bitstamp). Source: TradingView

Bitcoin is trying to make a new monthly high

information from Cointelegraph Markets Pro And the TradingView BTC/USD shows cooling volatility once again after it reached $17,300 on Bitstamp.

husband was He started taking cash On Dec. 8, Wall Street opened this uptrend to see it challenge the one-month highs of Dec. 5.

For those who are already betting on continuing to go higher, the move came as no surprise, as the coast is still clear to add more gains.

Popular trader Credible Crypto summed it up: “The move to $18-19K BTC continues.”

Previous tweet from Dec 7 explained The rationale, with invalidation set at the $16,000 support.

Advertisement

Part of the accompanying comments read:

“Maybe another push to 16.4-16.5k, then expect a back-up reversal and continuation of the 18-19k targets.”
Annotated BTC/USD chart. Source: Credible Crypto / Twitter

Meanwhile, fellow merchant Shades, eye Potential volatility continues, with BTC/USD marking the upper Bollinger band on the 4-hour timeframe.

At the time of writing, the four hour candles remain near the upper band, with both candles continuing to stretch in a classic lead to increase volatility.

BTC/USD 4-hour candlestick chart (Bitstamp) with Bollinger Bands. Source: TradingView

“Expect bitcoin to continue as long as we stay above $17,000,” Michael Van de Poppe, founder and CEO of trading firm Eight, said. addedlikening the nocturnal movement to the breakout from the end of November.

Liquidations are fueling Bitcoin’s price hike

Further analysis of BTC’s price movements overnight highlighted increased liquidation of short positions.

Related: Bitcoin 2022 Bears ‘Habitual’ Despite Missing Major Trend Line – Analyst

In a sign of how far market participants assumed further declines would enter, shorts on BTC totaled $7 million in one hour on Dec. 8, according to data from Coinglass. Altcoin short liquidations added another $11 million to the tally.

Advertisement

“Liquidations have been relatively small since the crash in early November, but short liquidations have helped support that latest move,” Analytics Source On-Chain College has been confirmed.

BTC liquidation scheme. Source: Coinglass

The views, ideas and opinions expressed herein are those of the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.