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Bitcoin Slides: Analyst Sees ‘Interesting’ Rally Or Brief Pullback

Major coins traded in the red on Tuesday, with the global cryptocurrency market cap down 3.58% to $1.03 trillion as of 8:30 p.m. EST.

Cryptocurrency Gain (+/-) price
Bitcoin -2.45% $22,410
ethereum -6.07% $1,530
dogecoin -7.51% $0.082

What happened: Largest cryptocurrency by market value Bitcoin Bitcoin/USD It was trading below $23,000. ethereum Ethereum/USD It was down more than 6% at $1,530. dogecoin Doge/US Dollar It is trading at $0.082, down nearly 8% over the past 24 hours.

US stocks closed mixedly on Tuesday. The Dow Jones Industrial Average bucked this trend, he rose 0.31% during the session. Meanwhile, the S&P 500 and tech-heavy Nasdaq Composite were down 0.07% and 0.27%, respectively.

see next: Best Crypto Day Trading Strategy

binancethe world’s largest cryptocurrency exchange by trading volume, said it was a mistake An unidentified Binance spokesperson quoted by Bloomberg on Tuesday said the company kept collateral for some of the crypto assets it issues in the same wallet as customer funds.

“Bitcoin is picking up after hitting a five-month high. The recent rally has failed to break above the $23,500 level, and a slight drop towards the $22,000 territory is possible. Too many big macro events for Bitcoin to do nothing Once all the dust settles from Q4 GDP, the Fed’s favorite inflation indicator and the FOMC decision, there should be strong resistance from the $25,000 level. Bitcoin’s rally could be very interesting or ripe for a short-term rebound.” Edward MoyaSenior Market Analyst Oandain a note seen by benzinga.

crypto analyst Michael van de Poppe Bitcoin failed to break through the critical resistance level of $23,100. As a result, Bitcoin could test and wipe out the $22,300 support level before the uptrend could continue. .

crypto analyst Kaleo We have identified the major technical levels of Bitcoin. According to him, the apex crypto has bounced back from touching high timeframe support. However, Kaleo does not expect this level to hold when Bitcoin enters the next major bull market and takes off towards $30,000.

Read the following: 20 Million Uniswap Members Say “Yes” to Binance Move: What “Temperature Check” Means

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