Examining Binance's Impact on Bitcoin's Price Decline

Coinpedia
Coinpedia

18 Sep 2023 6:58 AM

Popular analyst Credible Crypto has pointed out that on Binance, the stacked bids have been removed, and new sell orders have taken their place, tilting...

  • Popular analyst Credible Crypto notes that on Binance, stacked bids have been replaced by new sell orders, indicating a tilt in favor of sellers over buyers.
  • Credible Crypto suggests that if Bitcoin drops below $26,000, it may be a good time to turn positive for a potential rebound.
  • The analyst believes that $27,000 is a more significant resistance level to watch compared to $28,100.
  • A video by Crypto World highlights that Bitcoin is still holding above a support zone between $24,300 and $25,300.
  • Indicators such as the Relative Strength Index (RSI) and falling wedge pattern suggest the possibility of a bullish breakout if Bitcoin surpasses $26,700.
  • Ethereum is facing a crucial resistance level between $1,620 and $1,660, but daily indicators indicate a potential bullish reversal.
  • To confirm a bullish trend, Ethereum needs to break through the $1,660 resistance and establish it as solid support.

The sentiment in the article is cautious but also suggests the possibility of a bullish trend for both Bitcoin and Ethereum.

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You May Ask

What is the current situation on Binance regarding bids and sell orders?At what price level does Credible Crypto suggest turning positive for Bitcoin?What indicators suggest a potential bullish trend for Bitcoin?What resistance level is Ethereum currently battling with?What needs to happen for Ethereum to confirm a bullish trend?

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