Bitcoin (BTC) held $50,000 into Dec. 25 as BTC bulls avoided an unwelcome Christmas Day surprise.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD maintaining $50,000 support into the weekend, having ranged after local highs above $51,500.
The pair was calm as the holiday season got underway, with thinner liquidity yet to show itself in the form of volatile price moves.
With most taking a break from trading and analysis, the nearest target to the upside remained the $1 trillion market cap valuation level at $53,000.
For popular trader Pentoshi, a point of friction could come in the form of sellers actively driving down BTC/USD to liquidity at $46,000, only to then buy back in for a rebound.
“Right now beras on offense. They take price down to 46k but there was a lot of resting liquidity there = stop price from moving. They begin to close shorts and buy some spot back,” he offered as a forecast.
“Bears become bulls short term like myself.”
Further out, the yearly close was yet to form a major topic of interest, with Bitcoin nonetheless up $21,000 versus the start of 2021.
Taking stock at the end of the year, meanwhile, was stock-to-flow model creator PlanB.
Related: Missed out on hot crypto stocks in 2021? It paid just to buy Bitcoin and Ethereum, data shows
Having attracted fresh criticism over Twitter comments he says were misconstrued, the popular analyst said that Bitcoin was still abiding by his model’s predictions this month.
As Cointelegraph reported, stock-to-flow’s parameters provide significant room for maneuver when it comes to spot price, this nonetheless of value to PlanB and others.
https://twitter.com/100trillionUSD/status/1474396754212794373?ref_src=twsrc%5Etfw
While $135,000 this month, a forecast from the newly invalidated floor model, turned out to be overly optimistic, that figure as an average price this halving cycle remains in play.
There is good reason to be afraid. Previous down markets have seen declines in excess…
United Parcel Service, Inc. (NYSE:UPS) and FedEx Corporation (NYSE:FDX) are two robust logistics companies. Both…
Canadian crypto mining firm Bitfarms sold roughly $62 million worth of Bitcoin (BTC) in June,…
Invezz does not provide financial advice. Our aim is to simplify information about investing, enabling…
Noma, a Japanese film studio, has announced that it is producing three feature films that…
Bitcoin (BTC) saw continued strength on June 21 as Wall Street trading opened with a…