Cap-Rock Forex Trading with Andrew Olson, Sacramento, CA Videos

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Here are the BTC price levels to watch with Bitcoin ‘hanging on $40K cliff’ Bitcoin (BTC) saw its first major test of $40,000 for several weeks overnight, but what price zones are traders watching next? Whether long or short-term, the answer for many is simple: The range is still intact. Bitcoin wobbles after “moment of truth” On the back of macro pressures, BTC/USD saw a moderate sell-off on Feb. 17, which continued into Friday, with local lows of $40,330 appearing on Bitstamp, as per data. A bounce took the pair above $41,000, but nerves remain over further challenges to the strength of bulls’ resolve. A popular bounce zone in the event of a break below currently lies at $38,000, and as last night’s lows set in, popular Twitter account Credible Crypto reiterated the need to hold that number going forward. “Moment of truth,” they summarized alongside a forecast chart. “Lows taken, if our bottom is in at 32k then downside should be limited to the GREEN region below to form a higher low. Again, this is my primary, and I expect we hold this region and continue up to challenge monthly resistance once more.” Some were less enthusiastic about that prospect, with popular trader Crypto Ed concerned about even the $40,000 test. “Hanging on the 40k cliff, feels like a miracle is needed after that (for me) surprising move down yesterday,” he said. The structure of derivatives markets, meanwhile, reinforces the macro bottom being around $32,000. As noted by analyst Dylan LeClair, bidders entered at that point when it hit in January, providing more than a mere line in the sand for price stability.

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