Feb 18, 2023
Bitcoin Breaks Bear Trend, Eyes $25K Resistance
Cryptocurrency markets have seen a surge in activity over the past few weeks, with Bitcoin (BTC) leading the charge. The world’s largest digital currency recently climbed back above the $24,000 mark at the Feb. 17 Wall Street open, with analysis favoring a “consolidation and continuation” higher.
Data from Cointelegraph Markets Pro and TradingView showed BTC/USD recovering some overnight losses after dipping to $23,369 on Bitstamp. The pair had hit fresh six-month highs the day prior, but faced stiff resistance in the form of 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 $25,212 as a level to “break” the bear trend. Melker noted that a close above this figure would make a higher high for the first time since $69,000.
Investigating activity on exchanges, monitoring resource Material Indicators identified bid support inching higher, taking spot price with it. The Binance BTC/USD order book also showed resistance laddered up to $25,600 — well above the site of the 200-week MA, which flipped from support to resistance last August.
Cointelegraph contributor Michaël van de Poppe was upbeat on the outlook, calling for “consolidation and continuation.” He argued that the period from March to June should be a “party” throughout crypto markets, and flagged $22,800 as the key area for bulls to hold should BTC/USD opt to print a higher low (HL) next.
However, it was long traders who felt the bulk of the pain on Feb. 16, as Bitcoin’s trip lower liquidated $45 million of positions, data from Coinglass shows. Cross-crypto long liquidations almost reached $125 million.
As the crypto space continues to grow, businesses and investors are looking for new ways to promote and sell their Non-Fungible Tokens (NFTs). Many have turned to Twitter NFT marketing as a way to reach potential customers and generate revenue.
An NFT marketing agency can help businesses and investors create a successful NFT marketing campaign on Twitter. They can provide advice on how to best promote NFTs, as well as help them create and execute a strategy that will help them reach their goals.
The agency can also help businesses and investors develop a strategy for selling their NFTs. They can provide advice on the best platforms to use, as well as how to market their NFTs to potential buyers.
In addition, an NFT marketing agency can help businesses and investors understand the web3 space and how to best capitalize on the opportunities it presents. They can provide advice on the best ways to use NFTs to promote their products and services, as well as how to use NFTs to attract new customers.
As the crypto space continues to grow, businesses and investors are increasingly turning to NFTs to promote their products and services. With the help of an NFT marketing agency, businesses and investors can ensure that their NFT campaigns are successful and that they maximize the potential of the web3 space.
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.
