ApeWatcher News
  • Home
  • Advertise
  • Headlines
  • Crypto
    • News
    • Bitcoin
    • Ethereum
    • Altcoin
    • View All
  • DeFi
  • NFT
  • Metaverse
  • Guides
  • Rates
  • Videos
  • Listing Platform
  • BSC
  • ETH
  • Listing Platform
  • BSC
  • ETH
What's Hot

Ethereum-Based Cross-Chain Trading Platform Emerges As New Front Runner in Decentralized App Space: DappRadar

June 4, 2023

Warren’s alleged work with short-seller shows anti-crypto army heating up

June 3, 2023

Sony Web3 Incubator Aims To Accelerate Japan’s Virtual Expanses

June 3, 2023
Twitter Telegram
  • Listing Platform
  • Home
  • BSC
  • ETH
Advertise
Twitter Telegram
ApeWatcher News
  • Headlines
  • Crypto
    1. News
    2. Bitcoin
    3. Ethereum
    4. Altcoin
    5. View All

    Ethereum-Based Cross-Chain Trading Platform Emerges As New Front Runner in Decentralized App Space: DappRadar

    June 4, 2023

    Warren’s alleged work with short-seller shows anti-crypto army heating up

    June 3, 2023

    Gaming-Focused Layer-2 Crypto Project Surges by Over 90% After Announcement of New $80,000,000 Ecosystem Fund

    June 3, 2023

    Blockchain Association Files Another Amicus Brief Supporting Tornado Cash, Says Crypto Mixer Is ‘Simply a Tool’

    June 3, 2023

    BitMEX Founder Arthur Hayes Predicts a Bitcoin Bull Market Ahead, Says To Expect Fireworks – Here’s the Timeline

    June 3, 2023

    The Worst for Bitcoin (BTC) May Not Be Over, According to Bloomberg Analyst Mike McGlone – Here’s Why

    June 2, 2023

    Bitcoin ‘big move’ due in July after March $30K push — latest analysis

    June 2, 2023

    Europe’s right-wing political groups find cause in crypto

    June 2, 2023

    US debt ceiling, declining trust in banks send ETH staking to record highs

    June 2, 2023

    Uniswap DAO rejects plan to charge LP fees; UNI holders cite tax concerns

    June 1, 2023

    Billionaire Mike Novogratz Says One Massive Catalyst Will Send Crypto Off to the Races

    June 1, 2023

    ‘Not just Bitcoin price’ — Dan Tapiero shares tips on navigating the bear market

    June 1, 2023

    Ethereum-Based Cross-Chain Trading Platform Emerges As New Front Runner in Decentralized App Space: DappRadar

    June 4, 2023

    Gaming-Focused Layer-2 Crypto Project Surges by Over 90% After Announcement of New $80,000,000 Ecosystem Fund

    June 3, 2023

    Analytics Firm Santiment Says Bitcoin To Catch Up With Rallying Stocks, Updates Outlook on XRP and Litecoin

    June 3, 2023

    Under-the-Radar Ethereum (ETH) Competitor Pumps by 50% This Week Amid New AI Partnership

    June 3, 2023

    Ethereum-Based Cross-Chain Trading Platform Emerges As New Front Runner in Decentralized App Space: DappRadar

    June 4, 2023

    Warren’s alleged work with short-seller shows anti-crypto army heating up

    June 3, 2023

    Sony Web3 Incubator Aims To Accelerate Japan’s Virtual Expanses

    June 3, 2023

    Musk’s alleged price manipulation, the Satoshi AI chatbot and more

    June 3, 2023
  • DeFi
  • NFT
  • Metaverse
  • Guides
  • Rates
  • Videos

    Tether PUMPING BTC!? Why Stablecoin Market Cap Matters!!

    June 3, 2023

    Gensler Raises Army Of Minions In Crypto! #shorts #youtubehorts #crypto

    June 2, 2023

    Bitcoin 4 Year Cycle UPDATE!

    June 2, 2023

    CNBC Host STUNNED 🤯 After Billionaire’s Bitcoin Prediction

    June 1, 2023

    It Is OK To Take Profits! ($BEN Will Go Up And Down)

    June 1, 2023
  • jeet-detector-botJDB(JDB)
    $0.00-0.61% 24H
    JDB
    24H : -0.61%
    Volume : $0.00
    Marketcap : $0.00
  • bitcoinBitcoin(BTC)
    $0.00-1.46% 24H
    BITCOIN
    24H : -1.46%
    Volume : $0.00
    Marketcap : $0.00
  • ethereumEthereum(ETH)
    $0.00-1.03% 24H
    ETHEREUM
    24H : -1.03%
    Volume : $0.00
    Marketcap : $0.00
  • usdex-stablecoinUSDEX(USDEX)
    $0.00-0.47% 24H
    USDEX
    24H : -0.47%
    Volume : $0.00
    Marketcap : $0.00
  • tetherTether(USDT)
    $0.00-0.15% 24H
    TETHER
    24H : -0.15%
    Volume : $0.00
    Marketcap : $0.00
  • binancecoinBNB(BNB)
    $0.00-1.30% 24H
    BNB
    24H : -1.30%
    Volume : $0.00
    Marketcap : $0.00
  • usd-coinUSD Coin(USDC)
    $0.00-0.12% 24H
    USD COIN
    24H : -0.12%
    Volume : $0.00
    Marketcap : $0.00
  • rippleXRP(XRP)
    $0.00-3.25% 24H
    XRP
    24H : -3.25%
    Volume : $0.00
    Marketcap : $0.00
  • cardanoCardano(ADA)
    $0.00-1.87% 24H
    CARDANO
    24H : -1.87%
    Volume : $0.00
    Marketcap : $0.00
  • staked-etherLido Staked Ether(STETH)
    $0.00-0.98% 24H
    LIDO STAKED ETHER
    24H : -0.98%
    Volume : $0.00
    Marketcap : $0.00
  • jeet-detector-botJDB(JDB)
    $0.00-0.61% 24H
    JDB
    24H : -0.61%
    Volume : $0.00
    Marketcap : $0.00
  • bitcoinBitcoin(BTC)
    $0.00-1.46% 24H
    BITCOIN
    24H : -1.46%
    Volume : $0.00
    Marketcap : $0.00
  • ethereumEthereum(ETH)
    $0.00-1.03% 24H
    ETHEREUM
    24H : -1.03%
    Volume : $0.00
    Marketcap : $0.00
  • usdex-stablecoinUSDEX(USDEX)
    $0.00-0.47% 24H
    USDEX
    24H : -0.47%
    Volume : $0.00
    Marketcap : $0.00
  • tetherTether(USDT)
    $0.00-0.15% 24H
    TETHER
    24H : -0.15%
    Volume : $0.00
    Marketcap : $0.00
  • binancecoinBNB(BNB)
    $0.00-1.30% 24H
    BNB
    24H : -1.30%
    Volume : $0.00
    Marketcap : $0.00
  • usd-coinUSD Coin(USDC)
    $0.00-0.12% 24H
    USD COIN
    24H : -0.12%
    Volume : $0.00
    Marketcap : $0.00
  • rippleXRP(XRP)
    $0.00-3.25% 24H
    XRP
    24H : -3.25%
    Volume : $0.00
    Marketcap : $0.00
  • cardanoCardano(ADA)
    $0.00-1.87% 24H
    CARDANO
    24H : -1.87%
    Volume : $0.00
    Marketcap : $0.00
  • staked-etherLido Staked Ether(STETH)
    $0.00-0.98% 24H
    LIDO STAKED ETHER
    24H : -0.98%
    Volume : $0.00
    Marketcap : $0.00
ApeWatcher News
Home » Bitcoin ready to attack key trendline, says data as BTC price holds $20K
Bitcoin

Bitcoin ready to attack key trendline, says data as BTC price holds $20K

Coin TelegraphBy Coin TelegraphJuly 16, 20222 ViewsNo Comments
Share
Facebook Twitter LinkedIn Pinterest Email

Bitcoin (BTC) consolidated higher on July 16 after the Wall Street trading week finished with modest gains for United States equities.

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

Can Bitcoin bulls reclaim the 200-week moving average?

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD ranging between $20,500 and $21,000 into the weekend.

The pair thus preserved the majority of its comeback from the week’s lows, these following shock U.S. inflation data and sparking weakness across risk assets.

Now, out-of-hours trading meant that the classic scenario of breakouts and fakeouts on thin liquidity could accompany Bitcoin into the weekly close.

Eyeing order book data from Binance, the largest global exchange by volume, showed key resistance clustered around the $22,000 mark should bulls attempt to nudge the market higher.

For monitoring resource Material Indicators, however, there was a distinct possibility that Bitcoin could even challenge its 200-week moving average (WMA), a key bear market trendline lost as support over a month ago.

#BTC is looking for another retest of the 200 WMA, currently ~$22.6k. #FireCharts pic.twitter.com/rRvbI8cPl2

— Material Indicators (@MI_Algos) July 15, 2022

“It’s easy to become bullish on BTC on a green day & bearish on a red day,” popular trader and analyst Rekt Capital added in separate comments.

“But $BTC is still just ranging between $19K-$22K. This will continue until either of these levels is broken Intra-range moves aren’t substantial enough to dictate changes in sentiment.”

As Cointelegraph reported, that sentiment achieved an unenviable record this week, as crypto markets capped their longest-ever period in a state of “extreme fear” as per the Crypto Fear & Greed Index.

Miners feel the pinch

Monitoring miner behavior, meanwhile, one analyst at on-chain analytics platform CryptoQuant sounded the alarm over a potential sell-off.

Related: Bitcoin miners sell their hodlings, and ASIC prices keep dropping — What’s next for the industry?

14,000 BTC was transferred from miner wallets on July 15, Binh Dang showed, and while not specifically indicative of selling, the phenomenon was worth tracking.

“At this point, we can not be sure that this distribution is positive or negative, so we should be careful to watch out for the next few days,” he summarized in one of CryptoQuant’s Quicktake market updates.

Separately, a new indicator, the Energy Gravity Model, covering Bitcoin production costs showed that miners were likely able to pay comparatively low amounts for energy in order to mine at a profit at current BTC spot prices.

“Bitcoin Energy Gravity is the maximum USD price ($ / kWh) modern mining rigs are willing to buy electricity at to make a profit. ie: breakeven electricity rate,” the model’s creator, BlockWare analyst Joe Burnett, explained in a Twitter thread.

“From this maximum bid price, it is possible to get a better understanding of when the price of Bitcoin is overextended and when the price may be approaching a bottom.”

Bitcoin Energy Gravity Model. Source: Joe Burnett/ Twitter

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.



Read the full article here

Follow us on Google News to get the latest Updates

 
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

BitMEX Founder Arthur Hayes Predicts a Bitcoin Bull Market Ahead, Says To Expect Fireworks – Here’s the Timeline

June 3, 2023

The Worst for Bitcoin (BTC) May Not Be Over, According to Bloomberg Analyst Mike McGlone – Here’s Why

June 2, 2023

Bitcoin ‘big move’ due in July after March $30K push — latest analysis

June 2, 2023

Europe’s right-wing political groups find cause in crypto

June 2, 2023

Bitcoin mining firms keep building despite BTC mining profitability slump

June 2, 2023

AI trends at all-time high on Google but Bitcoin still did it better

June 2, 2023
Add A Comment

Leave A Reply Cancel Reply

Top Articles

Ethereum-Based Cross-Chain Trading Platform Emerges As New Front Runner in Decentralized App Space: DappRadar

June 4, 2023

Warren’s alleged work with short-seller shows anti-crypto army heating up

June 3, 2023

Sony Web3 Incubator Aims To Accelerate Japan’s Virtual Expanses

June 3, 2023
ApeWatcher News
Twitter Telegram
  • Privacy Policy
  • Sources
  • Terms and Conditions
  • Contact
  • Advertise
© 2023 Ape Watcher News

Type above and press Enter to search. Press Esc to cancel.