![]() The Bitcoin price is roughly 20 percent from November 2021 peaks and relatively weak versus the greenback.ĭespite the confidence of early this week, the reversal of November 18 and 26 losses was quickly met with resistance, forcing prices lower.Īt the time of writing, there are fears that BTC may fall below the multi-week support trend line, mirroring losses of November 26.įor this pattern to hold true, a close below last week’s lows at $53.5k confirming drawdown of November 26 may force the coin lower back towards the $45k zone and even $40k in a deep correction.Ĭonversely, this preview will be null should BTC prices bounce back above $60k and the middle BB, preferably with high trading volumes. This is positive news for Bitcoin as the more than three billion people using Meta’s apps in Instagram, Facebook, and Messenger would view crypto and Bitcoin-targeted advertisements once more. The announcement is at the back of Meta and Facebook’s reversing their ban on Bitcoin advertisements. Meta and Facebook Reverse Ban on Crypto and Bitcoin Advertisements They are confident Bitcoin will continue to spiral outwards from a single point to shape lives in the years to come. In a press release, the team said the rebranding was long overdue, pointing to their direct support for Bitcoin as an able, modern tool for economic empowerment. That El Salvador and MicroStrategy were loading on the dips, mean deep-pocketed investors consider the uptrend to be valid and BTC worthwhile for holding at spot rates.īesides, the rebranding of Square to Block and Square Crypto to Spiral spell good news for Bitcoin and crypto as a whole. ![]() Square crypto Rebrands to Spiral, Focus on Bitcoin Nonetheless, Bitcoin bulls can look at development from the fundamental lens for the much-needed hope. The failure of Bitcoin bulls to step up in the past few days point to weakness from a technical perspective. ![]() Even so, this isn’t to say the uptrend is dicey. However, bulls have a reprieve since BTCUSDT is holding up above the primary support trend line. That Bitcoin prices are retracing from this week’s highs swing price action to favor sellers in the short term. Bitcoin is both hot and cold, reading from the price performance in the daily chart. ![]()
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