Over the last couple of weeks, bitcoin has been steadily rising in value again, which can signal a bull market . So when you start to look at the patterns, the only thing it resembles is a GTA cheat code. The lower timeframe charts highlighted bearish momentum and selling pressure to be on the rise. For Bitcoin, the inability to climb past the $21.8k-$22k level meant that buyers still lacked strength in the market. The Visible Range Volume Profile tool was used to plot the Point of Control , the Value Area Highs , and Value Area Lows .
With interest rates rising, savings accounts become more https://canvas.instructure.com/eportfolios/973860/lorenzoadvf747/The_cryptocurrency_market_is_experiencing_an_unprecedented_crash attractive, and some people may be more comfortable putting their money where they can get predictable returns. It's important to remember that in this latest cycle, crypto assets are not alone. The stock market has been suffering a downturn, too, as U.S policymakers seek to tame inflation by tightening the monetary supply and raising interest rates. Support is a situation where traders feel like it's OK to buy Bitcoin because they can sell it for higher. This creates a demand for that price and stops sharp falls from happening.
