Bitcoin (BTC)Crypto News

BTC dips, this is the most important level to watch

                                                            Alle Märkte haben es während der Handelssitzung am Montag schwer und Bitcoin ist keine Ausnahme.  Die Cryptowährung ist in den letzten 24 Stunden um knapp 2 Prozent gefallen, während Altcoins meist in Rot gefärbt sind.

Options market analysis

The rising cases of the highly transmissible Omicron have created fear in all markets. Investors worry about lockdowns that could have a negative impact on the economy. On the options market, the short-term implied volatility increased accordingly, with a corresponding fear.

Bitcoin has fallen below $ 46,000. Traders hedged their portfolios by selling calls and buying puts. For the past two days, options traders bought calls for $ 50,000, $ 55,000, and $ 60,000 strikes for the following year expiration dates. They still seem optimistic for the coming months.
Diagram from Laevitas.ch
BTC dips, this is the most important level to watch, Crypto Trading NewsDiagram from Laevitas.ch

This is what awaits you in this article

Technical analysis (short term)

After testing the lower Bollinger Band on an 18 hour time frame, the price appears to be reacting to this formed support level. A Bollinger Band squeeze can be seen in lower time frames. As a result, a bullish divergence is forming on the 18-hour chart, but this has not yet been confirmed. It is confirmed by closing a candle above $ 49,000.
BTC dips, this is the most important level to watch, Crypto Trading NewsChart according to TradingView

Technical analysis (long term)

14 EMA on 4D Heiken-Ashi was a good level of support for Bitcoin over the long term. The directional movement index (DMI) can underline the strength and direction of a price movement. Bitcoin has been below this EMA since the collapse. Also –DI> + DI, but the ADX value indicates a weak trend. A pullback on the EMA can be expected in the next few days.
BTC dips, this is the most important level to watch, Crypto Trading NewsChart according to TradingView

Onchain analysis

Interestingly, the main selling pressure (~ 83%) over the past 7D has been the most recently moved (bought) coins at> $ 45,000 Purple Square, also known as “Top Buyers”.

These top buyers own almost 31% of the supply (blue square). That means we didn’t see any significant selling pressure from the old coin holder.
BTC dips, this is the most important level to watch, Crypto Trading NewsSource tsypruyan
BTC dips, this is the most important level to watch, Crypto Trading NewsSource tsypruyan
The above analysis was done by @N__E__D__A and @CryptoVizArt. Data provided by @tsypruyan exclusively for CryptoPotato.

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Source: Crypto News Deutsch

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