Bitcoin (Bitcoin) took a breather from its recent uptrend on March 26 after hitting predicted resistance just below the year open.
Bitcoin Fakeouts: The Third Time Is the Stimulus?
dealers had sounded the alarm for a possible retracement after a large selling wall appeared on major exchange Bitfinex. In this case, the pressure on the sell side prevailed and halted the bulls advance at just above $45,000.
“Still waiting to see how the price moves around the year open. The previous times I aimed for it we came up short but came very close although this time is looking better for BTC. Almost there”, the popular dealer Pentoshi summarized.
Colleague on Twitter BC Richfield, meanwhile, emphasized the need to break the current local high of $45,135 after two “fakeouts” on shorter timeframes. A failure, he argued before the top, would be bad news.
Two fakeys (fake breakout) on the final 4H inside bar.
I think we see a breakout towards 45135 before a decisive correction or pullback attempt.
A third Fakey would be brutal, but definitely not beyond Bitcoin’s capabilities.
Happy Friday everyone – have a great weekend ☀️ pic.twitter.com/QN5oHr5EAh
— BC Richfield (@BC_Richfield) March 25, 2022
Another topic of discussion this week is that of the blockchain protocol Terra Multi-billion dollar bitcoin buy-inwent on, executives added about another 3,000 BTC to a wallet now contains 24,954 BTC ($1.1 billion).
Media attention and excitement grew in lockstep with analytics firm Messari point out “increased usage and fundamentals” driving Terra’s price LUNA tokens while other smart contract tokens traded lower.
Nevertheless, LUNA/USD at the time of writing is in the same position it was trading in over the past weekend, while both Bitcoin and the largest altcoin Ether (ETH) increased by more than 6% in the same period.
Fees remain a bargain
However, for all the focus on a trend reversal within the crypto industry, Bitcoin has remained firmly under the radar for the mainstream.
“To an extent, bitcoin transaction fees tell you what you need to know,” he said called.
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https://cointelegraph.com/news/bitcoin-sellers-keep-btc-price-action-in-check-amid-45k-fakeout-warning Bitcoin sellers keep BTC price action in check amid $45,000 fakeout alert