Join us now discuss BTC price and additional Is Howard Greenberg he's a Cryptocurrency educator at Prosper Trading Academy Howard good to see you So you acknowledge remaining week Bitcoin flashed The golden cross a bullish signal now's Flashing the dying cross so what's your Outlook You know Bitcoin hasn't truly adopted Those by way of the years in case you occur to observe it so It's not an unlimited issue for me Um correct now I do agree with what you Just talked about from Christine Stockton there She nearly nailed it you acknowledge 25 000 250 truly has been our sturdy Resistance correct now we've been Consolidating for the ultimate 4 or 5 Days tremendously Um you acknowledge we'll see that the scarcity of Volatility there And pretty in truth price movement isn't Being sustained on account of we're not seeing Enough spot amount we're seeing numerous These we merely seen a drop of about 300 in About 5 minutes and it's merely Liquidations on the by-product market And then the spot Market you acknowledge variety Of reverts to the indicate there a bit Bit Yeah we actually do have a chart of Yours uh displaying that BTC has started to Consolidate in a tighter range throughout the Last 5 to six days after seeing the Bulls unable to maneuver that price above
That twenty 5 thousand 2 hundred Fifty diploma so so the place does it go from Here Well that's that's the large question you Know it's consolidating down Um you acknowledge I do agree that I imagine we Have a bit little little bit of short-term Bearishness in it part of that is that The by-product Market as soon as extra what we've Seen is there was an enormous skew remaining week Or so the place we seen numerous calls being Opened up throughout the risk Market in that 26 to twenty-eight 000 range and over the previous Three or 4 days we've seen these Trades being pulled once more being closed Out as you acknowledge the selection Traders are Starting to know that we merely don't Have enough you acknowledge momentum correct now The the quantity's not there we've had a Lot further amount in case you occur to look once more at my Chart you acknowledge once more remaining month as soon as we Made that good switch up from 17 to 24 nonetheless Volume has truly started to drop once more Down as soon as extra so we've seen a bit bit More menace off aversion from Traders and The volatility not being there more than likely Being a part of that All correct uh we we do have your chart on Uh the by-product Market uh what what Does that data inform us about BTC Sentiment uh and You know need you've seen in case you occur to Look down there at about slightly below 20K Which is the place our uh 200-day transferring
Averages and that's truly to me the the The the drop lifeless type of spot we fall Below that 19 750 19750 area we undoubtedly go away that that Fair market rally we've been in and we Return a bit bit further into that Bearish market Um nonetheless we've seen some truly good Support correct at 23k correct proper right here you acknowledge We now we now have the 50-day ma as you Mentioned correct below it we've been Moving up with that over the previous couple Of days uh RSI on The Daily charts been Pinned correct in neutral territory Um you acknowledge nonetheless with shopping for and promoting volumes Depressed ranges over the previous 10 to 14 Days we merely the Bulls merely don't see to Have enough you acknowledge power to get Through that 25 250 however Yeah and however the Bears are getting a Little little little bit of a resistance from the Bitcoin whale so Bitcoin whales that is Holders of huge portions of Bitcoin have Been looking for crypto on price dips and What may presumably be a sign of the highest of the Bear Market at first of a bull Market for the asset uh what are your Thoughts there Absolutely agree with that one different issue We that I've seen is you acknowledge I like Last observe has some good data and They separate holders into cohorts you Know short-term holders midterm holders And long-term holders moreover and what
We've seen is over the previous few months The fast all of the cell pressures Really been from that short-term holder Cohort so Traders like myself which will be In and out of Trades fairly shortly or People who bought in January and December you acknowledge realizing a pleasing Profit from that 17 18 000 and even Twenty thousand buck diploma as a lot as 25 Adding to that cell pressure what we Haven't seen is any movement away from The long-term holders the Bitcoin whales Selling any of their money Let's take a look at the queen s market Index uh the CMI it's down roughly 4 Percent over the earlier week and this could be a The short-term reversal in sentiment Across the crypto asset class has led to A perceived flight to Quality into Bitcoin BTC has outperformed 113 of the 158 Assets throughout the CMI beforehand seven Days the place the place do you see the essential factor Critical strains that you simply simply talked about spherical The nineteen thousand buck mark 4 Or for Bitcoin Yeah I imagine that's our downward you Know assist that now we now have to look at 19750 The 200-day ma Um I don't assume we're going to get There I do assume that we will Trade fairly sideways with a bit bit Of a downward bias over the following week or So after which you acknowledge points will start To play themselves out we do should see
Return of among the many market makers and Liquidity I do know you guys had an essential Article proper now displaying that two p.c Depth on the you acknowledge market price Showing that you simply acknowledge we don't have the Liquidity we did the fantastic thing about That to me is we moreover don't have a lot Of Supply on exchanges if fomo begins to Kick in when people you acknowledge we start in January as shortly as a bit little little bit of fomo Went in and sentiment went from extreme Bearish to Greed man that price moved up Quick didn't it What are the upper resistance ranges You're having a look at Right now it's nonetheless that 25 250 however when We can break that we've acquired a fairly Clear shot to it merely above 28 200. so There is a fairly good upside there if We can break through 25 250. All correct Howard thanks for turning into a member of us That was Prosper Trading Academy Cryptocurrency educator Howard Greenberg