Feb 18, 2023

Bitcoin Breaks Bear Trend, Eyes $25K Level

Bitcoin (BTC) surged back to the $24,000 level at the Wall Street open on Feb. 17, with analysts expecting further gains. Data from Cointelegraph Markets Pro and TradingView showed BTC/USD recovering from a dip to $23,369 on Bitstamp.

Scott Melker, the trader and podcast host known as “The Wolf Of All Streets,” noted an important level for bulls to break in order to establish a new high since the all-time high of $69,000.

“$25,212. I’ve been screaming about this number for weeks. A break above (ideally close) makes a higher high for the first time since $69,000,” he tweeted about the weekly chart on Feb. 16. “That breaks the bear trend. Just tapped it, to the penny… and dropped in the short term. Time to pay attention!”

Investigating activity on exchanges, Material Indicators identified bid support increasing, pushing the spot price higher. “The notorious BTC buy wall we’ve been tracking for 5 weeks just strategically moved again, this time just above the 21-Day Moving Average,” Material Indicators tweeted, noting that the entity seemed to be playing the technical levels.

Data from the Binance BTC/USD order book showed resistance up to $25,600 — well above the 200-week MA, which flipped from support to resistance last August.

Cointelegraph contributor Michaël van de Poppe was optimistic about the outlook, calling for “consolidation and continuation.” He pointed to $22,800 as the key area for bulls to hold should BTC/USD print a higher low (HL) next.

Van de Poppe argued that the period from March to June should be a “party” throughout crypto markets, noting that many investors are still stuck in the bearish mindset of the past 18 months.

Long traders were the most affected on Feb. 16 as Bitcoin’s dip liquidated $45 million of positions, according to data from Coinglass. Cross-crypto long liquidations almost reached $125 million.

The web3 space is becoming increasingly popular, with more and more people looking to buy and sell NFTs. For those looking to get in on the action, there are a few key things to consider.

First, it’s important to understand the basics of NFTs and the web3 space. NFTs are digital assets that are unique and non-fungible, meaning they can’t be replicated or exchanged. They are typically used to represent digital art, music, or other digital assets.

The web3 space is the digital infrastructure that powers the NFT market. It is a decentralized network of computers that allows for the secure transfer of digital assets and the execution of smart contracts.

Once you’ve got a handle on the basics, it’s time to start considering how to promote and sell your NFT. One of the most effective ways to do this is through Twitter NFT marketing. This involves creating engaging content that promotes your NFT, such as videos, images, and articles. It’s also important to use relevant hashtags to ensure your content reaches the right audience.

For those who want to take their NFT marketing to the next level, hiring a web3 agency or NFT marketing agency can be a great way to get the most out of your NFT promotion. These agencies specialize in NFT marketing and can help you create a comprehensive plan to ensure your NFTs reach the right audience and generate maximum engagement.

Overall, the web3 space is an exciting and rapidly growing industry, and those looking to get involved should take the time to understand the basics and develop a comprehensive NFT marketing strategy. With the right approach, you can maximize the potential of your NFTs and get the most out of your promotion.

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.