Critical Level for Bitcoin Has Been Determined!
Critical Level for Bitcoin Has Been Determined! Leading cryptocurrency Bitcoin (BTC) has ended its long-standing stagnation and is once again rising. Although bitcoin is fueling the excitement of rising above $ 9,300 and reaching $ 9,500 levels, it is not known exactly from which point investors will enter real FOMO.
However, when looking at the crypto exchange data and historical charts, it is seen that Bitcoin investors are especially locked to the level of $ 9,600. As of the writing of this article, Bitcoin is trading at $ 9,590 and the critical $ 9,600 level has been broken.
Bitcoin Traders Await $ 9,600
When Binance and Huobi’s derivative platforms are analyzed, it is seen that there is an open Bitcoin position of $ 430 million and these are locked to the level of $ 9,600. Most of the long positions in Bitcoin futures are still focused on the $ 9,600 point.
Looking at all these data, it is seen that the upward break for Bitcoin will start after $ 9,600.
— Bitcoin Reporter (@BTC_Reporter) July 24, 2020
Bitcoin’s return at $ 9,600 in its previous rise had broken investors’ enthusiasm and increased the decline. Now, the BTC / USD trading pair is likely to break the $ 9,600 level again, increasing the excitement. The rise of Ethereum like Bitcoin suggests that the bull season might have come. If $ 300 is broken in ETH and $ 10,000 in Bitcoin, it can be thought that the bull season might have come.