Cryptocurrency Market & Bitcoin Closing Review To Not Be Afraid
Hey Rubikators! For this closing of the market, many will be confused with the latest discharge.
But maximum speculation says it was caused, apparently, by the denial of the Exchange Trade Funds for Bitwise by the Securities and Exchange Commission.
The truth is not clear how the market will react to this. But so far it has been for the bull’s side.
The above is confirmed by the total number of short settlements that were made in the last hours in Bitmex.
Looking at the data we throw datamish it was more than $ 1.6 Mil of Short Positions was liquidated. Massive serial kill for our personal opinion to the bear’s side.
With all this and all the victory, we want to present to you the retrospection of the closing of the market so that you do not feel afraid of what can happen in the future.
Checking coinmarketcap we can see that the market closed hours ago with an approximate total of $232 billion, with most coins either seeing gains or losses in the ~1–5% range.
Notable mover of the day is Chainlink (LINK), currently more than~17.1% up, and the trading volume in general for 24 hours was approximately $66.2 billion.
Going to the feeling and activity part of the community, we can still see that we have not left the risk and fear zone within the penance market.
Anyway, in the last hours, and after the last discharge, there was a significant activity in most social networks.
Following the line of this story, let’s enter the dragon cave.
On the daily chart, RSI is at ~70 points, still indicative of significant bullish momentum. The MACD line has also crossed to the upside of the signal line.
But now we have a challenge. We must overcome the barrier between $ 8425 and $ 8770 in order to confirm what many are saying. Basically, Bitcoin could in the next few days overcome the $ 9,000 barriers.
Anyway, we are not confident and close all our positions that already have profits.
The crypto market stats will be posted in another story. Then, see you in the next. With Love 💛, Rubikators Team.