Feb 18, 2023
Bitcoin Breaks Bear Trend, Eyes $25K Resistance
Bitcoin (BTC) climbed back above $24,000 at the Feb. 17 Wall Street open as analysis favored “consolidation and continuation” higher. According to data from Cointelegraph Markets Pro and TradingView, BTC/USD had recovered some overnight losses after dipping to $23,369 on Bitstamp.
Scott Melker, the trader and podcast host known as “The Wolf Of All Streets,” pointed out the importance of the $25,212 level, which he had been discussing for weeks. He noted that a break above this level, ideally with a close, would make a higher high for the first time since $69,000.
Material Indicators identified bid support inching higher, taking spot price with it. Meanwhile, data from the Binance BTC/USD order book showed resistance laddered up to $25,600.
Cointelegraph contributor Michaël van de Poppe was optimistic on the outlook, calling for “consolidation and continuation.” He argued that the period from March to June should be a “party” throughout crypto markets, noting that people are stuck in the mindset of the past 18 months and can only expect further downside.
Van de Poppe identified $22,800 as the key area for bulls to hold should BTC/USD opt to print a higher low (HL) next. Data from Coinglass showed that it was long traders who felt the bulk of the pain on Feb. 16, as Bitcoin’s trip lower liquidated $45 million of positions, while cross-crypto long liquidations almost reached $125 million.
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The demand for NFTs has been steadily increasing, and many businesses are now turning to Twitter NFT marketing and NFT marketing agencies to help them promote their NFTs. Twitter NFT marketing involves using Twitter to promote NFTs and build an audience around them. NFT marketing agencies, on the other hand, offer a range of services, such as creating and managing NFT campaigns, developing marketing strategies, and providing insights into the NFT market.
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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.
