{"id":496699,"date":"2022-07-26T13:01:16","date_gmt":"2022-07-26T13:01:16","guid":{"rendered":"https:\/\/ktsl888.com\/?p=496699"},"modified":"2022-07-26T13:01:16","modified_gmt":"2022-07-26T13:01:16","slug":"bitcoin-retreats-over-last-6-sessions","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-retreats-over-last-6-sessions\/","title":{"rendered":"Bitcoin Retreats Over Last 6 Sessions As BTC Bulls Chart Their Next Move"},"content":{"rendered":"

Bitcoin (BTC) has dropped for six consecutive days in a row. It\u2019s currently declined by 54% as of this writing. The king of cryptocurrency plunged by 4.3% and traded under $22,000 on Monday. It has increased by 14% last week yet ended with a retracement.<\/span><\/p>\n

On Sunday, BTC prices have improved a bit by 14%. The slight spike in price marks the traders\u2019 massive sell-off happening at the $23,000 range or BTC being sent to exchanges.<\/span><\/p>\n

BTC volume or flow towards exchanges has increased in the past 24 hours. There was a marked increase in terms of net deposits implying the large volume of BTC being moved to exchanges that can help them exit their current BTC position.\u00a0 Buying window is seen from July 14.\u00a0\u00a0<\/span><\/p>\n

Suggested Reading |\u00a0Cardano (ADA) Spikes 8%, Overtakes XRP In Last 24 Hours<\/a><\/em><\/strong><\/p>\n

BTC Prices Show Resistance At $23,000<\/b><\/h2>\n

More so, it is expected that BTC prices will continue to be consistent showing some support at the $20,500 range and resistance seen at around $23K.<\/span><\/p>\n

We should be paying close attention to GDP growth statistics on Thursday as analysts estimated a growth of roughly 0.5%. Meanwhile, a GDP that hovers below 0.5% will give away a bearish movement for both the digital and traditional markets. A negative sentiment is predictive of the possibility that the economy will move into recession.<\/span><\/p>\n

If in case the price range doesn\u2019t hold up at $22,000, Bitcoin may fall in a heap at $19,000. It\u2019s apparent that BTC is attempting to keep with the tremendous selling pressure initiated by the bears. Bitcoin has had massive gains since June 18 wherein the digital gold jumped from $20,700 to as much as $23,800 in just two days.<\/span><\/p>\n

<\/p>\n

BTC total market cap at $401 billion on the daily chart | Source: TradingView.com<\/a><\/pre>\n
Will Bitcoin Price Bottom Out?<\/b><\/h2>\n
Now, it\u2019s dangerously leaning towards $19,000. But, can Bitcoin really bounce swiftly to this uncomfortable figure? With the large inflows present in the market, this dangerous bounce to $19,000 is a possibility and can pose a huge problem in the market.<\/span><\/p>\n
There are different factors supporting the possibility that the recent towards $23,000 was in fact a bear pit as BTC was able to breech the resistance and then was able to revert back, leaving the bulls suffering incremental losses.<\/span><\/p>\n
Suggested Reading |\u00a0TRON Bulls Are Back To Pump Some Energy Into TRX Coin<\/a><\/em><\/strong><\/p>\n
BTC is said to be in the process of bottoming out following its gains of 25% and then cascading down to $17,500 on June 18.<\/span><\/p>\n
Bitcoin\u2019s minimal loss suggests that BTC Bulls are cooking up their next move. BTC is seen to be oversold due to its weak RSI in June 13. This seems like a familiar trend when BTC\u2019s RSI also dropped to 20 in March 9 and consequently rallied to $69,000 in November 2021.<\/span><\/p>\n
Featured image from Coinpedia, chart from TradingView.com<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"
Bitcoin (BTC) has dropped for six consecutive days in a row. It\u2019s currently declined by 54% as of this writing. The king of cryptocurrency plunged by 4.3% and traded under $22,000 on Monday. It has increased by 14% last week yet ended with a retracement. On Sunday, BTC prices have improved a bit by 14%. The slight spike in price marks the traders\u2019 massive sell-off happening at the $23,000 range or BTC being sent to exchanges. BTC volume or flow towards exchanges has increased in the past 24 hours. There was a marked increase in terms of net deposits implying the large volume of BTC being moved to exchanges that can help them exit their current BTC position.\u00a0 Buying window is seen from July 14.\u00a0\u00a0 Suggested Reading |\u00a0Cardano (ADA) Spikes 8%, Overtakes XRP In Last 24 Hours BTC Prices Show Resistance At $23,000 More so, it is expected that BTC prices will continue to be consistent showing some support at the $20,500 range and resistance seen at around $23K. We should be paying close attention to GDP growth statistics on Thursday as analysts estimated a growth of roughly 0.5%. Meanwhile, a GDP that hovers below 0.5% will give away a bearish movement for both the digital and traditional markets. A negative sentiment is predictive of the possibility that the economy will move into recession. If in case the price range doesn\u2019t hold up at $22,000, Bitcoin may fall in a heap at $19,000. It\u2019s apparent that BTC is attempting to keep with the tremendous selling pressure initiated by the bears. Bitcoin has had massive gains since June 18 wherein the digital gold jumped from $20,700 to as much as $23,800 in just two days. BTC total market cap at $401 billion on the daily chart | Source: TradingView.com Will Bitcoin Price Bottom Out? Now, it\u2019s dangerously leaning towards $19,000. But, can Bitcoin really bounce swiftly to this uncomfortable figure? With the large inflows present in the market, this dangerous bounce to $19,000 is a possibility and can pose a huge problem in the market. There are different factors supporting the possibility that the recent towards $23,000 was in fact a bear pit as BTC was able to breech the resistance and then was able to revert back, leaving the bulls suffering incremental losses. Suggested Reading |\u00a0TRON Bulls Are Back To Pump Some Energy Into TRX Coin BTC is said to be in the process of bottoming out following its gains of 25% and then cascading down to $17,500 on June 18. Bitcoin\u2019s minimal loss suggests that BTC Bulls are cooking up their next move. BTC is seen to be oversold due to its weak RSI in June 13. This seems like a familiar trend when BTC\u2019s RSI also dropped to 20 in March 9 and consequently rallied to $69,000 in November 2021. Featured image from Coinpedia, chart from TradingView.com<\/p>\n","protected":false},"author":557,"featured_media":496700,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[428,679,1119,1144,65296,8686],"class_list":["post-496699","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-bitcoin","tag-bitcoin-price","tag-btc","tag-btcusd","tag-ethbtc","tag-ethusd"],"acf":[],"yoast_head":"\nBitcoin Retreats Over Last 6 Sessions As BTC Bulls Chart Their Next Move<\/title>\n<meta name=\"description\" content=\"Bitcoin (BTC) has dropped for six consecutive days in a row. It\u2019s currently declined by 54% as of this writing. 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He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley! So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill). Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair. Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin\u2019 helps him analyze and write meticulously formatted articles even better. Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies. Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects. So, the next time you tread into the world of cryptocurrency, remember the man behind the words \u2013 the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.","sameAs":["jomarjet01"],"url":"https:\/\/ktsl888.com\/author\/jomarjet01\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Retreats Over Last 6 Sessions As BTC Bulls Chart Their Next Move","url":"http:\/\/ktsl888.com\/news\/bitcoin-retreats-over-last-6-sessions\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-retreats-over-last-6-sessions\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/07\/Bitcoin-20.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/07\/Bitcoin-20.png?fit=850%2C445"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Christian Encila"}],"creator":["Christian Encila"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin price","btc","btcusd","ethbtc","ethusd"],"dateCreated":"2022-07-26T13:01:16Z","datePublished":"2022-07-26T13:01:16Z","dateModified":"2022-07-26T13:01:16Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Retreats Over Last 6 Sessions As BTC Bulls Chart Their Next Move\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-retreats-over-last-6-sessions\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-retreats-over-last-6-sessions\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/07\\\/Bitcoin-20.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2022\\\/07\\\/Bitcoin-20.png?fit=850%2C445\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Christian Encila\"}],\"creator\":[\"Christian Encila\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin price\",\"btc\",\"btcusd\",\"ethbtc\",\"ethusd\"],\"dateCreated\":\"2022-07-26T13:01:16Z\",\"datePublished\":\"2022-07-26T13:01:16Z\",\"dateModified\":\"2022-07-26T13:01:16Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2022\/07\/Bitcoin-20.png?fit=850%2C445","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/496699"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/557"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=496699"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/496699\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/496700"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=496699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=496699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=496699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}