The volatility seen by the crypto and stock markets last night was due to escalating tensions between Russia and Ukraine, which pushed the Bitcoin price below $41,000 in a short period of time.
Data from TradingView shows that the crypto market was hit by a sell-off that took bitcoin to an intraday low of $40,073 before bulls attempt to push the price back down to $40,579 for now.
BTC/USDT daily frame chart | Source: TradingView
Here’s what investors are saying about Bitcoin’s decline and what it means in the larger context of escalating global tensions.
Breakout above $50,000 to reverse trend
Bitcoin’s sudden drop has caused independent market analyst Michaël van de Poppe to change his mind. post The chart below shows the areas it needs to break to improve its uptrend.
“Actually, nothing has changed. This is still something I’m looking at for Bitcoin as I’d love to see that weekly block of orders break. If that doesn’t happen, I’m not optimistic.”
BTC/USDT weekly frame chart | Source: Twitter
Based on the red box marked by van de Poppe, Bitcoin needs a clear break above $50,000 for the bulls to reverse the trend.
Even seasoned investors can be caught off guard by sharp moves, as pointed out by analyst Pentoshi, who did it notice that some recent BTC purchases appear to have been botched.
“Despite all the bullish news, bitcoin is still respecting the levels. I will trade anyway, but I know the downside risk is very high.”
BTC/USDT daily frame chart | Source: Twitter
Buying rumors and selling facts?
One final piece of advice on what investors should consider in times like these came from John Wick, who to handle Concerns about the rise in US interest rates and the situation between Russia and Ukraine.
“It’s not about the news, it’s about how the market reacts to the news and absorbs it. Russia and the rate hike are different factors. We’ll have to wait and see how they are absorbed. Most messages will be overwritten and may become fuzzy.”
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Author
Analysis
$40,000 is Bitcoin’s “vital limit.”
The volatility seen by the crypto and stock markets last night was due to escalating tensions between Russia and Ukraine, which pushed the Bitcoin price below $41,000 in a short period of time.
Data from TradingView shows that the crypto market was hit by a sell-off that took bitcoin to an intraday low of $40,073 before bulls attempt to push the price back down to $40,579 for now.
BTC/USDT daily frame chart | Source: TradingView
Here’s what investors are saying about Bitcoin’s decline and what it means in the larger context of escalating global tensions.
Breakout above $50,000 to reverse trend
Bitcoin’s sudden drop has caused independent market analyst Michaël van de Poppe to change his mind. post The chart below shows the areas it needs to break to improve its uptrend.
“Actually, nothing has changed. This is still something I’m looking at for Bitcoin as I’d love to see that weekly block of orders break. If that doesn’t happen, I’m not optimistic.”
BTC/USDT weekly frame chart | Source: Twitter
Based on the red box marked by van de Poppe, Bitcoin needs a clear break above $50,000 for the bulls to reverse the trend.
Even seasoned investors can be caught off guard by sharp moves, as pointed out by analyst Pentoshi, who did it notice that some recent BTC purchases appear to have been botched.
“Despite all the bullish news, bitcoin is still respecting the levels. I will trade anyway, but I know the downside risk is very high.”
BTC/USDT daily frame chart | Source: Twitter
Buying rumors and selling facts?
One final piece of advice on what investors should consider in times like these came from John Wick, who to handle Concerns about the rise in US interest rates and the situation between Russia and Ukraine.
“It’s not about the news, it’s about how the market reacts to the news and absorbs it. Russia and the rate hike are different factors. We’ll have to wait and see how they are absorbed. Most messages will be overwritten and may become fuzzy.”
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
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