Bitcoin Positions Are Not Safe, Price Involves Risk

bitcoin At the start of a new week, it continued to be traded in a narrow range and continued to maintain a significant difference between spot and derivatives markets. In addition to this narrow trading range bitcoin price It has been trading in the same support zone for a long time, so the asset has to show a little more strength to attract large investors.

Bitcoin price is back in the range and trading with low strength as Bitcoin’s closest competitor, the DXY Index, continues to trade across resistance. DXY IndexThe expected slight decline in BTC may bring relief for BTC in the coming days. If these predictions come true, BTC can rise above the $ 20,200 level, but the risk may increase as the bulls are caught in the trap.

Bitcoin finished the week with a bullish sentiment, but it took a big fight with the bears to come up with that sentiment. Prominent cryptocurrency The weekly trading volume on the exchange Binance showed one of its highest levels since the rally recorded in 2017. Despite this important development, the price did not react much and revealed that the asset is closer to a downtrend.

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Also, the start of weekly trading witnessed a shift between spot and depreciation.

According to some analysts, retail buyers show a different trend compared to participants in the derivatives market and are not too worried when buying. Participants in the derivatives market, on the other hand, constantly consider the possibility of closing “long positions”.

Of course, the markets continue to show signs of a reversal from the downtrend from time to time. Currently, Ers Swap price presents a green chart that could support BTC. If it bounces back, it could face a sharp bearish move soon.

Bitcoin (BTC) price continues to trade at the same levels and is in a position to reach the maximum level of $ 20,500. Meanwhile, some meme coins are slowly gaining traction, which is interpreted as a development that could pump them hard in the coming days.

You can follow the current price action here.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.


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