BTC Price Rejected From $26k Range As Traders Book Profits
The buyer congestion at $25,500 allowed for stability this week, and investors slowly gained confidence in the possibility of a breakout to $30,000. advertisement Declines in the price of Bitcoin needed not to stretch below $25,000, a move likely to validate a double top pattern followed by another sweep through liquidity below $20,000 and more precisely test a much lower BTC support area around $15,500. Why Is BTC Price Vulnerable To Overhead Pressure The Moving Average Convergence Divergence (MACD) has sustained a relatively bullish outlook since the weekend, calling on buyers to consider buying the dip. However, unfavorable regulatory news in the US coupled with uncertain economic factors hinged on high inflation levels continues to dampen the market. From the time Blackrock filed with the Securities and Exchange Commission (SEC) in June intending to offer a spot BTC ETF product, investors believed in the likelihood of approval. Recommended Art...