Bitcoin Weekly Outlook: Expect Bear Trap as Focus Shifts on Fed Meeting
Bitcoin has switched its short-term market bias from bullish to bearish in the last two weeks.
Related News
Each year, some of the most powerful and influential people in the world come together to discuss a slew of events at the Bilderberg Meetings, which started in 1954 at the Hotel de Bilderberg in the Netherlands. These meets are shrouded in secrecy, which has given way to no shortage of conspiracy theories, but one can't help but to wonder whether or not bitcoin will be a talking point at this year's meeting, which runs from May 29th through the 1st of June in Copenhagen. Some of the topics at this year's meeting includes: Is the economic recovery sustainable? Who will pay for the....
Bears betting on a fresh Bitcoin price capitulation may get definitively burned this time, argues Rekt Capital. Bitcoin (BTC) may be battling for $50,000, but its latest move could prove to be the “ultimate” tool to make bears pay.In a tweet on Oct. 5, popular trader and analyst Rekt Capital described the most recent BTC price action as the “ultimate bear trap.”Analyst predicts more suffering for Bitcoin bearsAfter reaching $50,000 for the first time in a month and going on to hit highs of $50,400, Bitcoin is once again the source of intense debate among market participants.Whether BTC/USD....
Bitcoin fell more than 0.5 percent on Monday after a rebound in US Treasury yields, and the US dollar index manipulated traders' short-term appetite for the cryptocurrency.
In the short-term, supporting the upside outlook is the uncertainty led by a rising number of coronavirus infections in the US.
Ethereum has flipped bearish following the market’s reaction to the Federal Reserve (Fed) meeting, but its price remains firm above the $2,100 level. Given the bearish conditions, the market dynamics of ETH are starting to shift as key metrics signal a possible liquidity trap ahead at current levels. An Ethereum Liquidity Trap Signal Emerges After […]