• Latest
Bearish Divergence Hints At To start with Significant Chainlink Corrective Phase

Bitcoin Bears Erase the “Elon Musk” Candle as Sellers Choose Control

January 31, 2021
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Bitcoin

Bitcoin Bears Erase the “Elon Musk” Candle as Sellers Choose Control

coinnewsdaily by coinnewsdaily
January 31, 2021
in Bitcoin
0
Bearish Divergence Hints At To start with Significant Chainlink Corrective Phase
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022


  • Bitcoin has witnessed some massive promoting force all over the previous working day that has erased all the gains that came about as a final result of the “Elon Musk” pump a number of days in the past
  • The offering strain witnessed has come from a blend of spot and derivatives, with traders commonly likely possibility-off
  • It continues to be unclear what the lead to of this could be, but it might be a mix of technological weak spot as very well as turbulence in just the common current market
  • A person analyst is now noting that there’s a robust risk even more downside is imminent for the full market place
  • He is pointing to the cryptocurrency’s January small as the next level he is carefully seeing, with a bounce below perhaps permitting for large upside

Bitcoin has noticed some wild rate motion around the earlier few days. It all begun with Elon Musk’s endorsement of BTC, which catalyzed a significant pump to $40,000 that has been totally erased about the earlier couple of times.

This “FOMO” induced pump appeared to present exit liquidity for holders hunting to get out, as it was aggressively offered into.

One trader thinks that this is a sign of imminent downside, as he is now pointing to the cryptocurrency’s January lower as a near-expression goal.

Bitcoin Plunges as Bears Erase the Overall “Elon Candle” 

Earlier this week, Elon Musk transformed his Twitter bio to “#Bitcoin” and commented that the alter was unavoidable in hindsight.

This caused Bitcoin to soar nearly $7,000 and brought on almost half a billion in short liquidations.

However, the promoting force at these highs was major and prompted a significant rejection that has considering that resulted in it erasing all of the gains that arrived about thanks to Musk’s endorsement.

BTC Could Soon goal Shift to January Lows

One particular trader believes that a shift to Bitcoin’s January lows could be in the cards, specifically thinking about the a number of rejections it has posted at a key trendline.

“Bears have a obvious invalidation from here imo. Uncomplicated to flip very long if improper,” he gravely pointed out though pointing to the underneath chart.

Bitcoin

Image Courtesy of TraderSZ. Source: BTCUSD on TradingView.

Irrespective of this sentiment, there seems to be a powerful institutional bid close to $30,000, as the crypto bounces just about each individual time this level is tapped.

As this sort of, holding above $30,000 could provide Bitcoin with area for considerably further more upside in the days and months in advance.

Highlighted graphic from Unsplash.
Charts from TradingView.
Tags: particular traderperson analysttraderTwitterUnited Nations
Share76Tweet47
Previous Post

Why Bitcoin Price Stays At Threat of A Fall To $31K Immediately after Elion’s Rally

Next Post

Bitcoin (BTC) is a Digital Retail store of Price

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building
Bitcoin

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
what are wrapped tokens?
Bitcoin

What Are Wrapped Tokens?

April 23, 2022
btc and eth will break all time highs in 2022 — celsius ceo
Bitcoin

BTC and ETH will break all-time highs in 2022 — Celsius CEO

April 21, 2022
price analysis 4/20: btc, eth, bnb, xrp, sol, ada, luna, avax, doge, dot
Alt Coin

Price analysis 4/20: BTC, ETH, BNB, XRP, SOL, ADA, LUNA, AVAX, DOGE, DOT

April 21, 2022
Bitcoin

Play-to-Earn Bitcoin Games: How Lightning Network Enables Gamers to Earn Sats

April 20, 2022
Load More
Next Post
Bitcoin (BTC) is a Digital Retail store of Price

Bitcoin (BTC) is a Digital Retail store of Price

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$22,963.000.72%
  • ethereumEthereum(ETH)$1,634.540.58%
  • tetherTether(USDT)$1.000.16%
  • binancecoinBNB(BNB)$328.490.43%
  • rippleXRP(XRP)$0.394992-0.85%
  • cardanoCardano(ADA)$0.386594-0.78%
  • dogecoinDogecoin(DOGE)$0.090899-0.53%
  • matic-networkPolygon(MATIC)$1.232.73%
  • okbOKB(OKB)$44.231.29%
  • solanaSolana(SOL)$23.110.47%
  • shiba-inuShiba Inu(SHIB)$0.000014-2.02%
  • polkadotPolkadot(DOT)$6.700.82%
  • litecoinLitecoin(LTC)$98.662.36%
  • tronTRON(TRX)$0.0650082.40%
  • daiDai(DAI)$1.000.10%
  • cosmosCosmos Hub(ATOM)$14.571.51%
  • chainlinkChainlink(LINK)$7.000.84%
  • leo-tokenLEO Token(LEO)$3.37-1.23%
  • ethereum-classicEthereum Classic(ETC)$22.47-0.41%
  • moneroMonero(XMR)$167.401.22%
  • bitcoin-cashBitcoin Cash(BCH)$133.750.54%
  • stellarStellar(XLM)$0.090220-1.12%
  • filecoinFilecoin(FIL)$5.453.03%
  • crypto-com-chainCronos(CRO)$0.0805030.29%
  • algorandAlgorand(ALGO)$0.2764487.74%
  • vechainVeChain(VET)$0.0246782.35%
  • internet-computerInternet Computer(ICP)$5.672.17%
  • aaveAave(AAVE)$86.48-0.01%
  • eosEOS(EOS)$1.091.68%
  • theta-tokenTheta Network(THETA)$1.166.53%
  • elrond-erd-2MultiversX(EGLD)$45.582.04%
  • tezosTezos(XTZ)$1.182.00%
  • paxos-standardPax Dollar(USDP)$1.000.31%
  • havvenSynthetix Network(SNX)$2.871.93%
  • huobi-tokenHuobi(HT)$5.48-1.11%
  • bitcoin-cash-svBitcoin SV(BSV)$42.81-0.53%
  • pancakeswap-tokenPancakeSwap(CAKE)$4.49-0.22%
  • dashDash(DASH)$65.093.78%
  • iotaIOTA(MIOTA)$0.242767-0.31%
  • makerMaker(MKR)$730.765.44%
  • neoNEO(NEO)$8.831.59%
  • zcashZcash(ZEC)$45.794.59%
  • zilliqaZilliqa(ZIL)$0.0296433.67%
  • basic-attention-tokenBasic Attention(BAT)$0.2807131.30%
  • compound-governance-tokenCompound(COMP)$55.235.43%
  • nemNEM(XEM)$0.0418965.04%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • kusamaKusama(KSM)$35.980.09%
  • bitcoin-goldBitcoin Gold(BTG)$17.06-0.20%
  • qtumQtum(QTUM)$2.861.76%
  • sushiSushi(SUSHI)$1.48-2.34%
  • wavesWaves(WAVES)$2.752.79%
  • ftx-tokenFTX(FTT)$1.89-21.50%
  • yearn-financeyearn.finance(YFI)$7,707.132.05%
  • golemGolem(GLM)$0.250777-0.61%
  • omisegoOMG Network(OMG)$1.64-2.30%
  • ontologyOntology(ONT)$0.229663-0.87%
  • digibyteDigiByte(DGB)$0.0111915.83%
  • umaUMA(UMA)$2.122.21%
  • ethlendAave [OLD](LEND)$0.53-3.08%
  • UniswapUniswap(UNI)$2.4438.80%