• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Economy Bitcoin is losing its bullish momentum in the last two days
Economy

Bitcoin is losing its bullish momentum in the last two days

by October 23, 2024
by October 23, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

Bitcoin is losing its bullish momentum in the last two days

On Wednesday, October 23, the Bitcoin price continued its previous sideways consolidation

Bitcoin chart analysis

On Wednesday, October 23, the Bitcoin price continued its previous sideways consolidation. We see price pressure on the EMA 200 moving average for the second day. The bad thing for Bitcoin is that we don’t have a new high forming, which could pull the price to the bullish side. A jump to $68,000 should be the first indication that the momentum is waking up and that we are slowly turning to recovery.

After that, the following targets are $68500 and $69000 levels. At $69,000, the price will test the weekly open level. Depending on the movement in that zone, future trends will also depend. It is possible that we could have a new resistance to continue on the bullish side. Potential higher targets are $69500 ​​and $70000 levels.

 

The price remains neutral, giving us no indication of where it will go in the coming period

For a bearish option, Bitcoin should make an impulse below the EMA 200, down to the $66500 level. With that move, we will test this week’s low before continuing with a further pullback. Strengthening the bearish momentum will increase the pressure on the price to form a new lower low and confirm the bearish trend. Potential lower targets are the $66,000 and $65,500 levels.

Options traders are placing significant bets that Bitcoin will hit a record high of $80,000 by the end of November, according to Bloomberg.  Trump, an outspoken proponent of digital assets in the past month, is seen as a pro-crypto candidate. On the other hand, Harris has pledged to support a regulatory framework for cryptocurrencies, a move away from the tighter oversight seen during the Biden administration.

 

The post Bitcoin is losing its bullish momentum in the last two days appeared first on FinanceBrokerage.

You Might Also Like
  • Biden urges Israeli PM Netanyahu to minimize civilian casualties amid war against Hamas terrorists
  • Protester in prison costume detained after rushing Trump’s motorcade outside Miami courthouse
  • Top Crypto Gainers And Losers: TROY Token +78%, KP3R -10%
  • Margin of error race between Harris-Trump in new poll conducted after Biden dropped
Share
0
FacebookTwitterPinterestWhatsapp

previous post
S&P 500 and Nasdaq: S&P 500 has resistance at 5860.0 zone
next post
Crypto Trading Strategies That Every Investor Should Know

You may also like

Trump talks 2024 with Bret Baier, says Biden is ‘very...

January 22, 2024

Chinese hackers preparing to ‘wreak havoc’ on American citizens, communities,...

January 31, 2024

Biden admin ripped by experts as antisemitism gets ‘worse’ over...

May 2, 2024

New York officials update overtime threshold for farm workers

February 23, 2023

Biden replacement? Whitmer denies ‘Draft Gretch’ campaign, but her star...

July 4, 2024

DeSantis says Taiwan a ‘critical interest’ to America, China ‘more...

March 23, 2023

GOP, Dem lawmakers get personal in testy exchange about Biden...

November 15, 2023

‘ABSOLUTELY NOT’: Republicans blast Graham’s effort to pass resolution urging...

July 9, 2023

Growing number of Catholics, Protestants support less strict abortion laws:...

February 11, 2023

Biden admin dragged for blaming botched Afghanistan withdrawal on Trump:...

April 7, 2023

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout, pulls outlook

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025
    • The Unpredictable Stock Market: How to Make Sense of It

      May 8, 2025
    • AMD CEO calls China a ‘large opportunity’ and warns against strict U.S. chip controls

      May 7, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,633 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,339 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,321 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,303 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,186 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Krispy Kreme stock plunges after doughnut chain pauses McDonald’s rollout,...

      May 8, 2025
    • Don’t Buy Robinhood Stock… Until You See This Chart Setup

      May 8, 2025
    • UnitedHealthcare sued by shareholders over reaction to CEO’s killing

      May 8, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,066)
    • Investing (538)
    • Stock (2,530)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    Images released of Trump’s historic trip...

    April 4, 2023

    Biden speech delayed until after primetime

    August 20, 2024

    Indiana mail-in voting crackdown headed to...

    April 12, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here