A widely followed crypto analyst is highlighting the price level Bitcoin (BTC) bulls must hold as the crypto markets bounce.
With BTC trading for $23,984 at time of writing, analyst Justin Bennett kaže his 111,400 Twitter followers that Bitcoin bulls must hold $23,000.
“If BTC is going to bounce, it has to do it soon.
$23,000 is a must-hold level for bulls.”
The trader also breaks down the US Dollar Index (DXY), a measure of the strength of the US dollar against a basket of assets, in this case, digital assets. Generally speaking, a stronger DXY means weaker assets and vice versa. According to Bennett, the DXY is currently testiranje a new, higher level.
“There’s still a lot of indecision out there, but the DXY
just tested 105 resistance.
That’s the weekly pivot I mentioned yesterday, and there’s a daily pivot at 105.60.
Da vidimo.”
Looking at the traditional stock index the S&P 500 (SPX), Bennett kaže it’s no surprise the DXY is testing a higher level as the SPX approaches a confluence of support.
“No surprise that this is occurring as the SPX approaches the 3,930 confluence of support.
Betting that the next big move from risk assets hinges on this area.”
Bennett further objašnjava how the next big move for risk assets hinges on the SPX in a follow-up.
“It’s a simple over/under scenario.
Over, and we’re good. Under on the higher time frames, and we’re not good.
Don’t assume you know what will happen here. Blind assumptions are what get people rekt.”
Ne propustite ritam - Subscribe da biste dobili kripto e-mail upozorenja koja se dostavljaju direktno u vašu ulaznu poštu
Check Price Action
Pratite nas na cvrkut, Facebook i telegram
surfovati Daily Hodl Mix
Izjava o odricanju odgovornosti: Mišljenja iznesena u Daily Hodlu nisu savjet o ulaganju. Ulagači trebaju obaviti svoju dužnu opremu prije nego što ulože bilo koja rizična ulaganja u bitcoin, kripto valutu ili digitalnu imovinu. Imajte na umu da su vaši transferi i trgovine na vlastiti rizik, a za sve gubitke koji mogu nastati odgovoran ste. Daily Hodl ne preporučuje kupovinu ili prodaju bilo koje kripto valute ili digitalne imovine, niti je Daily Hodl savjetnik za ulaganje. Imajte na umu da Daily Hodl sudjeluje u affiliate marketingu.
Istaknuta slika: Shutterstock/yucelyilmaz/Sensvector
Source: https://dailyhodl.com/2023/02/24/analyst-names-must-hold-level-for-bitcoin-btc-bulls-as-crypto-market-drops/