Santa rally
Bitcoin ‘Santa rally’ pauses at $51.5K as funds bet on a sub-$60K BTC price for January 2022
Bitcoin (BTC) lost momentum at $51,500 on Dec. 24 as traders weighed the odds of a “Santa rally” coming true for Christmas. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC sees potent long-term retest Data from Cointelegraph Markets Pro and TradingView saw BTC/USD preserve its gains from Dec. 23, these totaling 6% with resistance most recently kicking in at just above $51,500. Opinions were mixed among weary traders about the strength of the rally and whether it could endure for long. Still in its familiar range despite the overnight uptick, Bitcoin needed to show its muscle on longer timeframes, Cointelegraph reported analysis as saying earlier. For filbfilb, co-founder of trading platform Decentrader, a combination of low funding rates and top ...
Bitcoin battles bears ‘on offense’ as Christmas delivers a $50K BTC gift
Bitcoin (BTC) held $50,000 into Dec. 25 as BTC bulls avoided an unwelcome Christmas Day surprise. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Bears become bulls” short term? Data from Cointelegraph Markets Pro and TradingView showed BTC/USD maintaining $50,000 support into the weekend, having ranged after local highs above $51,500. The pair was calm as the holiday season got underway, with thinner liquidity yet to show itself in the form of volatile price moves. With most taking a break from trading and analysis, the nearest target to the upside remained the $1 trillion market cap valuation level at $53,000. For popular trader Pentoshi, a point of friction could come in the form of sellers actively driving down BTC/USD to liquidity at $46,000, only to then...
