Feb 18, 2023

Bitcoin Breaks Bear Trend, Closes Above $24K

Bitcoin (BTC) surged back to the $24,000 mark at the Wall Street open on Feb. 17 as analysis suggested a bullish trend. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD recovering overnight losses after dipping to $23,369 on Bitstamp. The pair had hit a six-month high the day before, but was met with resistance from two weekly moving averages (MAs) and a heavy sell wall.

Scott Melker, the trader and podcast host known as “The Wolf Of All Streets,” highlighted the importance of the $25,212 level for BTC/USD, which would signal a break from the bear trend. He noted that the pair had “tapped it, to the penny” before dropping.

Investigating activity on exchanges, Material Indicators identified bid support edging higher and taking spot price with it. Binance BTC/USD order book data showed resistance laddered up to $25,600 — above the 200-week MA, which flipped from support to resistance last August.

Cointelegraph contributor Michaël van de Poppe was optimistic about the outlook, predicting “consolidation and continuation” for the pair. He identified the $22,800 level as key for bulls to hold if BTC/USD prints a higher low (HL) next.

Van de Poppe argued that the period from March to June should be a “party” for crypto markets, with people stuck in the mindset of the past 18 months expecting further downside.

Long traders felt the brunt of the losses on Feb. 16, as Bitcoin’s dip liquidated $45 million of positions, according to Coinglass. Cross-crypto long liquidations almost reached $125 million.

The web3 space is seeing a surge of interest in Non-Fungible Tokens (NFTs), and with it the need for promotional and marketing efforts. Crypto projects, digital artists, and other creators are looking to leverage the power of NFTs to reach a wider audience and generate more awareness and engagement.

Twitter is one of the most popular social media platforms for NFT promotion, as it allows users to quickly and easily share their NFTs with the world. However, it can be difficult to effectively use Twitter for NFT marketing without the right tools and strategies.

That’s why many crypto projects and digital artists are turning to specialized NFT marketing agencies. These agencies provide a range of services, from helping projects create their own Twitter NFT campaigns to providing advice on how to best promote NFTs.

The agencies also offer a variety of strategies for selling NFTs, including the use of influencers, paid advertising, and social media campaigns. By leveraging the power of Twitter, these agencies can help projects and digital artists reach a larger audience and generate more interest in their NFTs.

For those looking to get started with NFT marketing, it’s important to find a web3 agency that specializes in NFT promotion and marketing. A good agency should be able to provide advice on how to best use Twitter for NFT promotion, as well as provide strategies for selling NFTs and reaching a larger audience. With the right agency, projects and digital artists can successfully leverage the power of NFTs to reach more people and generate more interest in their work.

Disclaimer: All investment or financial opinions expressed by MoonLanding Media are not recommendations and are intended for entertainment purposes only. Do your own research prior to making any kind of investment. This article has been generated based on trending topics, has not been fact checked and may contain incorrect information. Please verify all information before relying on it.