Bitcoin bulls cling to recent BTC price gains as the dust settles on $9 billion in Mt. Gox transfers.
) sought to retest range highs at the July 16 Wall Street open as the market brushed off Mt. Gox BTC movements.“I can see an argument for both scenarios atm- that the LTF impulse off 58k may be our bottom OR that this was just a deviation/fakeout to gather some momentum to take out our lows,” Credible CryptoDaan Crypto Trades meanwhile warned that BTC/USD returning below $60,000 “wouldn’t be great.
“So far, we've seen a solid disbelief rally where yes, there's some euphoria by those that are allocated but also a lot of short squeezes and confused reactions by those who didn't expect a move this quick,” he “In my opinion, a retest back to 59-60K wouldn't be great and would show weakness. Technically it's a good level and the chart would be okay if it holds. But in practice, these kind of ‘perfect retests’ rarely come and are often just a sign of weakness.”Buying the dip? Bitcoin institutional investors add 100K BTC in a weekMichaël van de Poppe, founder and CEO of trading firm MNTrading, called for a retest of all-time highs within the next two and a half months.
“$BTC is back in the range. It had a deviation beneath the range low. However, in the past few days, it rallied back into the range,” he“As long as $60K holds, I’m expecting to see a continuation towards the all-time high in Q3.”This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin price today: slumps to 2-mth low at $58k amid Mt Gox jittersBitcoin price today: slumps to 2-mth low at $58k amid Mt Gox jitters
Read more »
Bitcoin Nosedives Under $58K Amid Mt. Gox, German Government Wallet MovementsShaurya is the Deputy Managing Editor for the Data & Tokens team, focusing on decentralized finance, markets, on-chain data, and governance across all major and minor blockchains.
Read more »
BTC price taps $58K as vital Bitcoin bull market trendline reemergesBitcoin climbs toward the $60,000 mark as BTC price behavior seems to shrug off new German government transactions.
Read more »
Key BTC price levels emerge as Bitcoin hits $58K on ‘sticky’ US PPIBitcoin adds 1% gains thanks to the latest PPI print, but traders want to see better BTC price strength.
Read more »
Bitcoin exchange balances ‘overrated?’ 140K BTC Mt. Gox payout sparks debateBitcoin pundits hold differing views on the Mt. Gox payouts versus BTC price strength.
Read more »
Bitcoin price sheds 3% as $6B leaves Mt. Gox cold walletBitcoin outflows from Mt. Gox's cold wallet trigger a 3% BTC price decline.
Read more »