Now Loading



Bitcoin (BTC) went into a weekly close on July 3 after trading over the weekend produced a short-term low of $ 18,800.

Bollinger bands show proper flexibility

Data from Cointelegraph Markets Pro and TradingView followed BTC / USD as they stuck to $ 19,000 firmly on the third day of running.

The couple had not completely changed over the weekend, but at the time of writing they were in the process of closing each week under their own half-cut cycle that had been high since December 2020.

Last weekend’s action produced the latest surgery that saved bulls from closing below $ 20,000.

Momentum remained weak throughout the Wall Street trade for the next week, however, and traders were unsure about the possibility of significant relief.

“We want to push for a low support base for $ 18,000 while we are below $ 19,300. Fast and strong head, ”popular Twitter account Crypto Tony wrote in a review to fans that day.

"I can't really trust this move because it's 'a weekend,'" a colleague Ninja account continued in the extra post section, adding "if the bulls can push $ 19.7k, I don't think the dump is over."

Up or down, incoming volatility has been closely monitored by analysts as the weekly closure approaches. Well-known analyst Matthew Hyland noted that the Bollinger Bands index indicated that prices would change significantly in the near future.

On a daily basis, BTC / USD trades near the lower Bollinger Band, threatening to downgrade as a way to show similar volatility to what happened in May.

Underwater addresses exceed March March 2020 peak

New data so far has shown just how much pain the average hodler was experiencing after the worst monthly losses since 2011.

According to on-chain monitoring firm Glassnode, the weekly mobile number of unique BTC addresses has now lost to an all-time high of 18.8 million on July 3rd.

As Cointelegraph reported earlier, in previous capture incidents, 60% of the provision needed to detect incomparable losses.

"Approximately $ 40 Billion in Bitcoin Net Realized Losses as of May 1st," an analytics account on On-Chain College was cut short as June came to an end:

“Some stayed, some still. One thing is for sure - if you have been in this position for the past year and are still here, you have experienced a great deal of flexibility. "

Source: cointelegraph

How do you feel about this blog?


Leave a Reply