Bitcoin (Bitcoin) After the overnight rally stopped at $52,000, a new support level was tested on Monday.
Analyst: Bitcoin needs to maintain $47,000 to avoid “crash”
In doing so, the largest cryptocurrency “probably” tested the endurance of the support, which has acted as resistance throughout the summer.
“BTC closes strongly every week,” trader and analyst Rekt Capital Comment On the weekly chart.
“Any drop to orange may constitute an attempt to retest new support against previous resistance.”
At the time of writing, BTC/USD is still above $51,000, remaining at a level that is hovering within a range slightly below the local high.
At the same time, Cointelegraph special analyst Michaël van de Poppe emphasized the wider choice of Bitcoin support levels to maintain its momentum.
“$47,000 is still the last low, so if you want to avoid any crash, you should stay above this low, but we did see that we fell below about $50,000, so the previous resistance here is what you want The level of maintenance,” he said in a recent comment YouTube updates.
He added that if Bitcoin breaks through the range above Monday’s high, it may stay between that range and April’s all-time high for weeks or even months.
Altcoins see the weird calm
The top 10 cryptocurrencies by market capitalization are made up of Ripple At the time of writing, XRP/USD was up 6.25% on the day.
“As long as there is $50,000, altcoins will also start to explode,” van de Poppe predicted.
The existing high-flyer FTX token (FTT) retains a 15% return, while New claim The level of 70 dollars.