Bitcoin Continues to Hover Around the 200-Day EMA Again btcusd bitcoin btc cryptomarket CryptoInvestor CryptocurrencyMarket
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Ultimately, Bitcoin needs a lot of risk on behavior, as the crypto markets are about as far out on the spectrum as you can get when it comes to risk appetite.market has done very little during the trading session on Thursday, as we continue to see a lot of lackluster momentum.appetite is all over the place.
Ultimately, Bitcoin needs a lot of risk on behavior, as the crypto markets are about as far out on the spectrum as you can get when it comes to risk appetite.At this point, it looks as if the $22,000 level is going to continue to be very difficult, so therefore I think you get a situation where the $22,000 level is the short-term ceiling, especially as it has previously been an area where we had seen quite a bit of resistance.
Furthermore, we have the 50-Day EMA hanging around that same area, so it all comes together for some type of support or target. I think at this point, Bitcoin is waiting around to see whether loose monetary policy is in fact going to be the name of the game. I don’t think that’s so, but the one thing that could make it as far as a bullish argument for Bitcoin is that the market has held relatively stable, and evenin the face of a lot of negative news. We have FTX, Gemini, and a handful of other bankruptcy/frauds coming to light that should be bringing the market down. Quite frankly, we just cannot fall on bad news.
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