Bitcoin Traders Long The $39K Dip, Will BTC Head In Expected Direction? - BitcoinEthereumNews.com
बीटीसी 4 घंटे के चार्ट पर बग़ल में चलती है। स्रोत: बीटीसीयूएसडी ट्रेडिंगव्यू Data from analyst Ali Martinez suggest traders are yet to enter the fear territory as BTCs price still holds its current levels. A majority of operators seem to be optimistic. As seen below, the long to short ratio on crypto exchange Binance stands at 2.88, meaning traders are dominantly long. Around 74% of the traders on this platform took long positions as opposed to 25%. स्रोत: अली मार्टिनेज ट्विटर के माध्यम से In that sense, Martinez advised traders to stay cautious as Bitcoin rarely does what the majority expects. While the price of the first crypto seems to be recovering in short timeframes, bulls are yet to display conviction. विश्लेषक जोड़ा the following on potential support levels for BTCs price in case of more downside: Bitcoin last line of defense is the 78.6% Fibonacci retracement level at $38,530. Breaching this support level could see $BTC fall to $32,853 or even $26,820. Data from Material Indicators (MI) supports these potential levels. As seen below, the price of Bitcoin bounced off a stack of bid orders (in yellow below the price) set at around $39,000. The benchmark crypto then proceeded to move upwards, but with little support