Michaël Van-De-Poppe Crypto Tony city Rekt markets Bitcoin Bitcoin Price Michaël Van-De-Poppe Crypto Tony city Rekt

Bitcoin levels to watch as BTC price eyes highest weekly close in 9 months

Reading now: 472

Bitcoin (BTC) approached a key weekly close on March 19 with traders concerned about a retest of lower levels.Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $27,000 on Bitstamp.After briefly tapping $28,000 into the weekend, a slow comedown through out-of-hours trading denied bulls a squeeze higher.

This led market participants to weigh the likelihood of Bitcoin returning to test support.“Holding my long position while we are above $25,500, but ultimately we lost $27,000 support so we are likely to come down and test around $26,100,” popular trader Crypto Tony told Twitter followers.

Cointelegraph contributor Michaël van de Poppe, founder and CEO of trading firm Eight, was optimistic on the short-term outlook, even as BTC/USD drifted lower over the weekend."Are we staying above $26,800?

Answer is clear; yes. This means, trend will continue to last until $26,800 is lost. Looking for a final sweep into $28,300-28,900 and then reversal," part of analysis on March 18 stated.A subsequent post on the day nonetheless underscored the importance of nearby support just $300 below current spot price."$26,800 is crucial for Bitcoin," Van de Poppe summarized.On weekly timeframes, BTC/USD was still in line for an impressive candle close, having last acted around $27,000 in June 2022. Related: Bitcoin price hits $27K in new 9-month high as Fed injects $300B For trader and analyst Rekt Capital, there was additional cause for optimism thanks to Bitcoin potentially now leaving the intervening downtrend behind for good.Several months later and #BTC has finally broken out from its Accumulation RangeThis Accumulation Range was calculated based on historical post-Death Cross retracement theory mentioned in the

Read more on cointelegraph.com
The website fvbb.com is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News