Ethereum short entry at $1700 - Bitcoin risks are too high
The cryptocurrency market is battling some resistance and negative fundamentals to maintain gains.
Tesla's sale of bitcoin has caused a panic where bears have momentarily been in control and buyers are trying to dominate the price action, which seems to be recovering momentarily.
Despite the weak results release, the feeling is a bit optimistic. If stock markets turn bullish, cryptocurrencies will strongly gain that support.
Ethereum is above $1,600, which can push the price towards the resistance zone above $1,700. A record amount of BTC flowed into the Coinbase platform. A whale, which has acquired 207,000 BTC since 2019, has transferred most of its reserves from an external wallet (cold wallet) to the platform. In the past few days, the address has sent more than 160,000 BTC to Coinbase, raising concerns about its possible sale.
Tesla's sale of bitcoin has caused a panic where bears have momentarily been in control and buyers are trying to dominate the price action, which seems to be recovering momentarily.
Despite the weak results release, the feeling is a bit optimistic. If stock markets turn bullish, cryptocurrencies will strongly gain that support.
Ethereum is above $1,600, which can push the price towards the resistance zone above $1,700. A record amount of BTC flowed into the Coinbase platform. A whale, which has acquired 207,000 BTC since 2019, has transferred most of its reserves from an external wallet (cold wallet) to the platform. In the past few days, the address has sent more than 160,000 BTC to Coinbase, raising concerns about its possible sale.