• Latest
Why BTC Could Surge Above $18.8K

Bitcoin Posts “V-Shaped Restoration” as Bulls Erase Overnight Losses: What’s Following

December 1, 2020
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 Posts “V-Shaped Restoration” as Bulls Erase Overnight Losses: What’s Following

coinnewsdaily by coinnewsdaily
December 1, 2020
in Bitcoin
0
Why BTC Could Surge Above $18.8K
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 just posted another stunning value motion, with the cryptocurrency’s hottest rejection at $19,800 sending it as reduced as $18,300 this early morning before bulls stepped up and reversed its downwards momentum.

This brought about the cryptocurrency to erase virtually all of the losses that came about owing to this the latest motion, with purchasers as soon as once again targeting a shift up to its $19,800 resistance.

This “V-formed recovery” significantly bolsters the cryptocurrency’s underlying power, as it implies that bears are plagued by fundamental weak spot at the instant because of to their inability to obtain any management around the crypto’s selling price action.

This hottest bear-entice was also fundamentally healthy, as it reset sentiment, shook out about-leveraged very long positions, and could show that additional upside is imminent in the in close proximity to-time period.

A single trader is now pointing to the rate region just earlier mentioned wherever BTC is trading as a prospective reversal zone for this rebound.

He thinks that the recovery posted about the earlier couple of hrs is receiving “overcooked” and will be adopted by even further downside.

Regardless of this sentiment, the simple fact that bears have been not able to spark any meaningful craze shifts about the previous many months does indicate that bulls could be very well-positioned to see even further upside in the times and months ahead.

Bitcoin Erases Right away Losses as Bulls Roar

At the time of producing, Bitcoin is investing down just above 1% at its present-day cost of $19,400. This marks a practically complete erasure of the losses that came about overnight as a end result of the marketing tension see at its $19,800 highs.

These 24-hour highs marked an all-time high across lots of platforms. Normally, bears tried to fade this shift and briefly received handle in excess of its price action.

They even sent it as low as $18,200 this early morning right before bulls stepped up and reversed the downtrend.

Analyst Promises BTC’s Rebound Could Be Obtaining “Overcooked”

Whilst sharing his thoughts on where Bitcoin could trend in the close to-term, 1 analyst described that he expects its uptrend to stall about its latest price level and start out reversing back again into bears’ favor.

“My brave small line supplied aid, but I imagine this is cooked. Will in all probability try to shorter all over the golden pocket.”

Bitcoin

Impression Courtesy of Byzantine General. Supply: BTCUSD on TradingView.

Generally, V-formed recoveries are adopted by large upside movements, which could make this theory to some degree not likely.

Moreover, every exam of the upper-$19,000 location degrades the resistance here, which could imply that it is only a subject of time prior to it is shattered.

Featured image from Unsplash.
Charts from TradingView.

Tags: analystBitcoinByzantine GeneralPayment systemssingle trader
Share76Tweet47
Previous Post

Mining Town: A Blueprint for Results?

Next Post

DeFi “Blue-Chips” Lead Sector Rebound as Smaller Tokens Underperform

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
DeFi “Blue-Chips” Lead Sector Rebound as Smaller Tokens Underperform

DeFi “Blue-Chips” Lead Sector Rebound as Smaller Tokens Underperform

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)$29,850.00-1.60%
  • ethereumEthereum(ETH)$2,041.15-1.35%
  • tetherTether(USDT)$1.000.01%
  • binancecoinBNB(BNB)$300.42-1.65%
  • rippleXRP(XRP)$0.428726-1.34%
  • cardanoCardano(ADA)$0.56-1.46%
  • SolanaSolana(SOL)$55.16-0.81%
  • dogecoinDogecoin(DOGE)$0.089085-1.03%
  • polkadotPolkadot(DOT)$10.55-4.00%
  • tronTRON(TRX)$0.0717031.93%
  • Shiba InuShiba Inu(SHIB)$0.000012-1.19%
  • daiDai(DAI)$1.000.16%
  • litecoinLitecoin(LTC)$71.371.23%
  • CronosCronos(CRO)$0.197461-1.11%
  • matic-networkPolygon(MATIC)$0.70-0.51%
  • leo-tokenLEO Token(LEO)$5.114.31%
  • FTX TokenFTX Token(FTT)$31.20-3.10%
  • bitcoin-cashBitcoin Cash(BCH)$202.12-2.17%
  • chainlinkChainlink(LINK)$7.46-3.12%
  • stellarStellar(XLM)$0.137885-1.31%
  • cosmosCosmos Hub(ATOM)$11.24-1.77%
  • OKBOKB(OKB)$12.52-2.20%
  • algorandAlgorand(ALGO)$0.474706-0.47%
  • moneroMonero(XMR)$170.160.20%
  • ethereum-classicEthereum Classic(ETC)$21.14-1.76%
  • ElrondElrond(EGLD)$98.532.27%
  • vechainVeChain(VET)$0.031680-1.92%
  • Internet ComputerInternet Computer(ICP)$8.24-2.52%
  • filecoinFilecoin(FIL)$8.33-2.95%
  • tezosTezos(XTZ)$1.80-2.13%
  • makerMaker(MKR)$1,526.48-6.96%
  • zcashZcash(ZEC)$110.124.47%
  • PancakeSwapPancakeSwap(CAKE)$4.62-1.00%
  • theta-tokenTheta Network(THETA)$1.35-2.22%
  • eosEOS(EOS)$1.35-0.84%
  • AaveAave(AAVE)$89.87-0.05%
  • huobi-tokenHuobi Token(HT)$6.96-0.95%
  • iotaIOTA(MIOTA)$0.383153-1.96%
  • bitcoin-cash-svBitcoin SV(BSV)$55.040.75%
  • paxos-standardPax Dollar(USDP)$1.00-0.06%
  • zilliqaZilliqa(ZIL)$0.0537722.08%
  • neoNEO(NEO)$10.730.01%
  • KusamaKusama(KSM)$79.473.34%
  • wavesWaves(WAVES)$7.036.07%
  • dashDash(DASH)$59.18-1.14%
  • havvenSynthetix Network Token(SNX)$2.74-3.86%
  • basic-attention-tokenBasic Attention Token(BAT)$0.399916-4.27%
  • nemNEM(XEM)$0.0593210.07%
  • CompoundCompound(COMP)$70.16-0.86%
  • qtumQtum(QTUM)$4.10-0.78%
  • omisegoOMG Network(OMG)$2.53-0.28%
  • yearn-financeyearn.finance(YFI)$9,920.66-2.03%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • bitcoin-goldBitcoin Gold(BTG)$19.55-0.83%
  • ethlendAave [OLD](LEND)$4.103.48%
  • golemGolem(GLM)$0.31539821.46%
  • SushiSushi(SUSHI)$1.394.25%
  • ontologyOntology(ONT)$0.276747-3.22%
  • umaUMA(UMA)$3.230.98%
  • digibyteDigiByte(DGB)$0.012451-1.42%
  • UniswapUniswap(UNI)$2.4438.80%
Posting....