Monday March 08, 2021
Bitcoin (BTC) $50,513.00   Ether (ETH) $1,721.96
  • Events
  • News
    • Blockchain Technology
    • Capital Raising
    • Crypto Exchanges
    • Crypto Payments
    • Gaming & Betting
    • Networks & Protocols
    • Security
    • Vendor Technology
    • Wallets
NEWSLETTER SIGNUP
EXCHANGE 300+ COINS
CryptoNinjas
  • Crypto & Blockchain Links
  • Real-Time Market Data
  • Bitcoin ATM Map
  • Token Offerings/Listings
No Result
View All Result
CryptoNinjas
No Result
View All Result
Home Market Commentary

Bitcoin (BTC) bounces of $6100 level, what’s next?

Published by CryptoNinjas.net
06/13/2018
Bitcoin (BTC) bounces of $6100 level, what’s next?

Bitcoin futures on Deribit exchange are currently trading at 6250 USD, having bounced off the 6100 level within the past 24-hours. The pullback from the 7500 USD level began on June 10th and has seen BTC fall around 1500 USD. For long-term hodlers, is this a good time to accumulate bitcoin at a decent price? Or is a lengthy consolidation period upon us around the 6000-6500 USD price points.

Looking at price action year to date, the BTC price has seen a low of 5957 USD, which occurred on February 2nd, 2018. If selling does persist, this could be another good entry level for buyers of the cryptocurrency. After this level was hit though, bitcoin rallied hard, almost doubling to 11700 USD on the Deribit futures market.

The Deribit BTC futures price showing the YTD 11700 USD highs in February/March and current prevailing lows.

The high for this year was this 11700 USD level which occurred in February and again in early March. If history repeats itself, patient buyers could be rewarded handsomely if we are to see bullish price action signs pick up. Buying around today’s current price level of 6000 USD could see a doubling in price in the near future.

A bearish scenario looks exhausted, but if selling continues, the next support level comes in around the 5200 USD price level. The 5200 USD level was the late 2017 price for a prolonged consolidation period before the BTC price went parabolic into the new year. After launching up from this support level, BTC advanced to reach an all-time high around 20000 USD on December 20th, 2017.

Between the 5200 USD and current 6000 USD price points look like good entry points to accumulate more coins or make some strategic trades. Being involved with bitcoin, holding, being aggressive buyers or sellers depends on your situation and strategy, but whenever the bitcoin price has a healthy pullback, it is smart to evaluate your options and reconsider your maneuvering.

If you are looking for daily bitcoin strategies, email us at bitcoin@cryptoninjas.net, also see the BTC futures market on Deribit.

5
SHARES
FacebookTwitterLinkedinRedditE-MailTelegram

Related News

Bitcoin DeFi platform Sovryn reveals $1.25M bug bounty; raises $10M in token presale
Security

Bitcoin DeFi platform Sovryn reveals $1.25M bug bounty; raises $10M in token presale

03/05/2021
P2P crypto escrow platform Escaroo adds staking function from Moonstake
Strategic Integration

P2P crypto escrow platform Escaroo adds staking function from Moonstake

03/05/2021
SecondState launches Ethereum compatible ParaTime on the Oasis blockchain
Networks & Protocols

SecondState launches Ethereum compatible ParaTime on the Oasis blockchain

03/05/2021
NFT platform Curio closes seed funding of $1.2M to fuel expansion
Capital Raising

NFT platform Curio closes seed funding of $1.2M to fuel expansion

03/05/2021
IOTA token added as collateral asset on Bitfinex Borrow
Crypto Exchanges

IOTA token added as collateral asset on Bitfinex Borrow

03/05/2021
Load More
Leave Comment

Where to Exchange

Bit2MeLeading Spanish Bitcoin ExchangeVisit
BL3P
European Bitcoin ExchangeVisit
ChangellyExchange & Buy 150+ CryptocurrenciesVisit
itBitAmerica's First Regulated Bitcoin ExchangeVisit
  • Trending
  • Latest
Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

Enjin launching two scaling solutions to remove gas and support NFTs from any blockchain

03/04/2021
Creators of crypto wallet Exodus files with SEC to allow purchase of its stock with bitcoin

Creators of crypto wallet Exodus file with SEC for $75M public offering

03/03/2021
SIMBA Chain expands to Avalanche blockchain enabling low-code smart contract deployment

SIMBA Chain expands to Avalanche blockchain enabling low-code smart contract deployment

03/02/2021
Canadian bitcoin exchange CoinSmart raises $3.5M to expand into Europe

Canadian bitcoin exchange CoinSmart raises $3.5M to expand into Europe

03/01/2021
DeFi yield optimization protocol ETHA Lend closes $1.6M funding round

DeFi yield optimization protocol ETHA Lend closes $1.6M funding round

03/04/2021
Bitcoin DeFi platform Sovryn reveals $1.25M bug bounty; raises $10M in token presale

Bitcoin DeFi platform Sovryn reveals $1.25M bug bounty; raises $10M in token presale

03/05/2021
P2P crypto escrow platform Escaroo adds staking function from Moonstake

P2P crypto escrow platform Escaroo adds staking function from Moonstake

03/05/2021
SecondState launches Ethereum compatible ParaTime on the Oasis blockchain

SecondState launches Ethereum compatible ParaTime on the Oasis blockchain

03/05/2021
NFT platform Curio closes seed funding of $1.2M to fuel expansion

NFT platform Curio closes seed funding of $1.2M to fuel expansion

03/05/2021
IOTA token added as collateral asset on Bitfinex Borrow

IOTA token added as collateral asset on Bitfinex Borrow

03/05/2021
  • Home
  • Directory
  • Data
  • About
  • Contact
SUBSCRIBE

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy

  • Home
  • Crypto Links
  • Market Data
  • Blockchain Tech
  • Exchanges
  • Capital Raising
  • Vendor Technology
  • Token Offerings/Listings
  • Payments
  • Wallets
  • Bitcoin ATM Map
  • Conferences & Events
  • About
  • Contact

© 2016 - 2021 CryptoNinjas Disclosures | Privacy Policy


Go to mobile version