Il dolore a breve termine di Bitcoin è un guadagno a lungo termine? Perché BTC potrebbe vedere i Green Days

Bitcoin has seen some gains in the past 24 hours as bulls seem to be making a stronger push. però, funding rates across exchange platforms remain negative indicating a high bearish sentiment, almeno, in the derivatives sector.

Al momento della scrittura, BTC scambia a $32,236 con un 8.4% profit daily and a 2.7% loss in the weekly chart.

Bitcoin BTC BTCUSD
BTC pushing into the high of the range in the daily chart. fonte: BTCUSD Tradingview

QCP Capital has recorded a “roller-coaster” like price action as Bitcoin dropped from its current levels below $30,000 on the weekend only to return to its past weekly open.

This period saw a rise in Bitcoin inflows to exchange platforms. Contrary to popular belief, Senior Commodity Strategist for Bloomberg Intelligence, Mike McGlone, believes that the $30,000 support zone exhibits maturation.

Come tale, he clarified that Bitcoin continues to be in an uptrend supported by bullish signals. A breve termine, the China crackdown on the crypto industry has affecting BTC and could be the main source of selling pressure, but in the long-term McGlone believes that this “confirms Bitcoin’s revolutionary value”.

Bitcoin BTC BTCUSD
fonte: Mike McGlone Bloomberg Intelligence

The above was accompanied by what the market perceived as two bearish events, QCP Capital added. Primo, the Grayscale Bitcoin Trust unlock 16,240 shares and a high amount of put option around the $20,000 livelli.

On the negative funding rates, a metric that incentives traders to take long positions, QCP Capital recorded a high degree of selling pressure from the BTC-based futures. The first said:

Consistent selling in both spot and futures persisted into Monday and Tuesday along with several more large prints in BTC and ETH Dec put options, pushing BTC to a low of 29,301 martedì.

Ethereum And Bitcoin Display Strength Amidst High Selling Pressure

A bullish take on the current price action is the resilience shown by Bitcoin and Ethereum’s price. QCP Capital claimed that both cryptocurrencies have “tremendous” support at the $29,500 e $1,750 livelli. The firm added:

(...) a BTC close around 31,000 today would potentially form a powerful double Demark 9 & 13 buy reversal signal. Inoltre, there is a potentially positive event risk tonight (...)

Bitcoin BTC BTCUSD
fonte: QCP Capital

“The B Word” Could become an important bullish catalyzer for the markets. però, one of its main participants, Elon Musk, has a “wild card” reputation. A breve termine, QCP Capital leans to the bulls’ corner as BTC’s price forming a triple-bottom with a strong bullish divergence 2 days chart, come si vede di seguito.

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fonte: QCP Capital

If Bitcoin managed to push even further to the top of its current range and reaches $35,000 e $36,000, the firm expects a short squeeze beyond the $40,000 price point. QCP added the following in their report:

The promising bounce off the lows this morning reaffirms our 30-40k range view in the medium-term. Implied vols should continue to trickle down as a result.

Test di blocco degli annunci (Perché?)

fonte: Newsbtc

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