Bitcoin drops to $ 60,000 as the ghost of Mt. Gox haunts the market again
Bitcoin shows no signs of breaking the $ 60,000 resistance on Nov. 23, while the ghost of the Mt. Gox exchange is back to track price action.
BTC / USD 1-Hour Candlestick Chart | Source: TradingView
MT. Gox caused a stir with refunds
Show trading data shows BTC reversed course again, hitting a local high of over $ 59,500 on Monday.
The price returned to $ 55,000 when the latest events regarding Mt. Gox’s refunds to victims hit the media headlines after it was first reported in November.
In one notification, trustee Nobuaki Kobayashi confirmed that the plans are now “firm”, which means that 141,000 BTC will soon be distributed.
“The Rehabilitation Trustee reimburses beneficiaries under the plan. The creditors will be notified of the timing, the procedure and the specific amount of these repayments.
Although the close of Mt. Gox is not breaking news, the already volatile market is likely to become even more volatile on Tuesday and keep sentiment gloomy.
According to the Fear & Gier Index, the “neutral” mood is now firmly back in the “fear” territory a day ago and is 33/100 at the time of going to press.
Cryptocurrency Fear and Greed Index | The source: Alternative.me
The monthly chart is nothing unusual
Meanwhile, prominent trader and analyst Rekt Capital noted that Bitcoin remains perfectly reasonable on the monthly timeframe.
#BTC is still testing this monthly level as support
The monthly retest is still intact despite the downward volatility
It’s worth repeating, however, that BTC could easily see that way for the rest of the month
Month-end closing is key$ BTC #Crypto #Bitcoin https://t.co/9ginJXUJXX pic.twitter.com/99oye5epLb
– Rekt Capital (@rektcapital) November 22, 2021
“BTC is still testing this monthly level as a support. The monthly retest remains intact despite the reduced volatility. Hence, it should be remembered that BTC can fluctuate slightly like this for the rest of the month. The month-end closing is the key moment. “
After the highest monthly close ever in October, the re-testing of the previous monthly support from 2021 is still ongoing.
In the meantime, high volume investors on the stock exchanges often continue to bet after previous declines and even seek to accelerate new gains.
As CEO Charles Edwards of asset management company Capriole noted, buyers’ support levels rise higher as Bitcoin misses its target.
“Bitfinex whales raise bid again,” he said Disclosure along with a diagram of the platform showing $ 54,000 as the new focus instead of $ 50,000.
BTC / USD chart and strength of support and resistance | Source: Charles Edward
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Minh Anh
According to Cointelegraph
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Bitcoin
Bitcoin drops to $ 60,000 as the ghost of Mt. Gox haunts the market again
Bitcoin shows no signs of breaking the $ 60,000 resistance on Nov. 23, while the ghost of the Mt. Gox exchange is back to track price action.
BTC / USD 1-Hour Candlestick Chart | Source: TradingView
MT. Gox caused a stir with refunds
Show trading data shows BTC reversed course again, hitting a local high of over $ 59,500 on Monday.
The price returned to $ 55,000 when the latest events regarding Mt. Gox’s refunds to victims hit the media headlines after it was first reported in November.
In one notification, trustee Nobuaki Kobayashi confirmed that the plans are now “firm”, which means that 141,000 BTC will soon be distributed.
“The Rehabilitation Trustee reimburses beneficiaries under the plan. The creditors will be notified of the timing, the procedure and the specific amount of these repayments.
Although the close of Mt. Gox is not breaking news, the already volatile market is likely to become even more volatile on Tuesday and keep sentiment gloomy.
According to the Fear & Gier Index, the “neutral” mood is now firmly back in the “fear” territory a day ago and is 33/100 at the time of going to press.
Cryptocurrency Fear and Greed Index | The source: Alternative.me
The monthly chart is nothing unusual
Meanwhile, prominent trader and analyst Rekt Capital noted that Bitcoin remains perfectly reasonable on the monthly timeframe.
#BTC is still testing this monthly level as support
The monthly retest is still intact despite the downward volatility
It’s worth repeating, however, that BTC could easily see that way for the rest of the month
Month-end closing is key$ BTC #Crypto #Bitcoin https://t.co/9ginJXUJXX pic.twitter.com/99oye5epLb
– Rekt Capital (@rektcapital) November 22, 2021
“BTC is still testing this monthly level as a support. The monthly retest remains intact despite the reduced volatility. Hence, it should be remembered that BTC can fluctuate slightly like this for the rest of the month. The month-end closing is the key moment. “
After the highest monthly close ever in October, the re-testing of the previous monthly support from 2021 is still ongoing.
In the meantime, high volume investors on the stock exchanges often continue to bet after previous declines and even seek to accelerate new gains.
As CEO Charles Edwards of asset management company Capriole noted, buyers’ support levels rise higher as Bitcoin misses its target.
“Bitfinex whales raise bid again,” he said Disclosure along with a diagram of the platform showing $ 54,000 as the new focus instead of $ 50,000.
BTC / USD chart and strength of support and resistance | Source: Charles Edward
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Minh Anh
According to Cointelegraph
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
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