Whale Large Capital
  • Politics
  • World News
  • Business
  • Investing
  • Politics
  • World News
  • Business
  • Investing

Whale Large Capital

Investing

Bitcoin price remains below the EMA 200 on Wednesday

by October 9, 2024
October 9, 2024
Bitcoin price remains below the EMA 200 on Wednesday

Bitcoin price remains below the EMA 200 on Wednesday

On Tuesday, the price of Bitcoin managed to recover in the short term to the $63200 level

Bitcoin chart analysis

On Tuesday, the price of Bitcoin managed to recover in the short term to the $63200 level. That’s where we lost our bullish momentum and a pullback was initiated from there. With a couple of bearish impulses, the price retreated to $61839, a new weekly low. We quickly got that new support, which triggered this morning’s bullish consolidation to the $62500 level.

In this zone, we have additional resistance in the EMA 200 moving average, and we need an impulse above for further continuation of today’s bullish consolidation. The jump to $62,800 takes us to the weekly open level. By moving above, we move to the positive side, after which we need to stay there. With the return of the price of Bitcoin to the positive side, the chances of starting a further recovery to higher levels are increasing.

 

The price continues to move below the moving average, thus extending the bearish pressure

Potential higher targets are $63500 and $64000 levels. We also have a chance to visit the weekly high at $64444. For a bearish option, we need a turn in the price of Bitcoin to the bearish side. Failure to move above the 200 EMA will add bearish momentum. A withdrawal to the daily open level follows this. New pressure in that zone should bring a drop below and the formation of a new daily low.

This gives us another confirmation that Bitcoin is under pressure and that we will see a continued pullback. Potential lower targets are $61500 and $61000 levels. With a break below $61700, we fall below the weekend support level. That could be the point below which the bearish momentum will intensify. The broader weekly picture tells us that the price in the lateral consolidation and that the market participants are uncertain for now in which direction Bitcoin will continue.

 

The post Bitcoin price remains below the EMA 200 on Wednesday appeared first on FinanceBrokerage.

0
FacebookTwitterGoogle +Pinterest
previous post
Ethereum is still under pressure from the EMA 200 today
next post
Amazon same-day prescription delivery expanding to nearly half of U.S. in 2025

You may also like

GGP Share Price Continues Decline. Will It Recover...

August 7, 2024

Oil and natural gas: Oil is moving away...

August 28, 2024

USDCHF and USDJPY: USDJPY is falling below last...

September 6, 2024

EURUSD AND GBPUSD: EURUSD is holding steady above

August 12, 2024

USDCAD and USDCNH: USDCAD continues to slide to...

August 22, 2024

ONON Stock Deep Dive: Growth, Forecasts, and Comparisons

August 15, 2024

SafeMoon and Litecoin: LItecoin in sideways consolidation

August 20, 2024

SoftBank Stock Reports $1.87B Profit Boosted by AI

November 12, 2024

ApeCoin and Akita Inu: ApeCoin pulls back to...

September 12, 2024

Kohl’s Shares Plunge 11%

November 26, 2024

    Subscribe today to receive exclusive access to all our retirement secrets and income strategies, including special financial news and updates from our experts. From time to time, our newsletters feature valuable insights and analysis on the latest financial trends. Don't miss out on these exclusive updates – join our subscription to stay informed!


    By opting in you agree to receive emails from us. Your information is secure and your privacy is protected.



    Latest

    • Kash Patel torches ‘conspiracy theories’ about Bondi feud amid MAGA furor over Epstein files

      July 13, 2025
    • Trump defends embattled AG Pam Bondi, says ‘nobody cares about’ Jeffrey Epstein

      July 12, 2025
    • Bondi says all charges against doctor who allegedly destroyed COVID vaccines have been dropped

      July 12, 2025
    • Meet ‘China’s man in Lima’ who jetted over to US to collect trains donated by Biden admin

      July 12, 2025
    • Inside Dan Bongino’s tense meeting with White House officials over Jeffrey Epstein fallout

      July 12, 2025
    • Could Butler happen again? Former Secret Service agents weigh in on political violence in 2025

      July 12, 2025

    Categories

    • Business (715)
    • Investing (661)
    • Politics (4,877)
    • World News (3,213)
    • Terms & Conditions
    • Privacy Policy
    • Contact us
    • About us

    Disclaimer: WhaleLargeCapital.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 WhaleLargeCapital.com | All Rights Reserved