[Blockchain Today Reporter Park Yo-han] As the volatility of the global financial market continues to increase, the cryptocurrency market once again recorded a loss, Cointelegraph reported on the 26th (local time).
Bitcoin started at around $38,200 this morning, but continued to sell, bringing the price down to $36,800, according to data from Cointelegraph Markets Pro and TradingView.
Here is Cointelegraph’s views of several analysts and investors.
Under $36,000 – Buyers are in trouble
Cryptocurrency investor and anonymous Twitter user ‘HornHairs’ presented a chart showing Bitcoin’s solid support near $37,400, saying, “It could go back up to $38,000, but if it doesn’t reach $38,700, it could be a bear market. It could mean.” “Such a bearish move could bring the price down a little more, and if it goes below $36,781, it is expected that the buying power will struggle.”
Fake-out warning
Another cryptocurrency trader and anonymous Twitter user, Daan Crypto Trades, presented a chart where Bitcoin, which has been on a downtrend since peaking last November, is struggling to break through the trend. Next, Daan Crypto Trades warned of a ‘fake out’ and raised the question, “Currently, the graph is testing the diagonal for the 4th time, but can it be broken this time?”
Fakeout is a technical chart analysis term for a kind of trap that can break through a pattern, break through, then come back into the pattern and flow in the opposite direction.
Establishing the position of the bull market
Technical analyst and anonymous Twitter user ‘Decodejar’ said: “The general charts these days are bearish with the Bearish ABC Wave 4 expanding flat and ending below last year’s lows, but there’s not much volume on impulse. “They did not break last year’s lows,” he said. “The market will need some more time, but at the current level, corrections are almost complete. I don’t see a bear market. I’m tired of hearing that, but what I see is the establishment of a complete bull market,” he added.
Meanwhile, as of today, the cryptocurrency market cap is currently $1.729 trillion, and Bitcoin’s share is 41.1%.
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