Cryptos continue to show resilience as banks face their biggest challenge since 2008

Cryptos continue to show resilience as banks face their biggest challenge since 2008 Bitcoin BTC Bitcoinprice

- Conditions improved across all financial markets on Thursday as banks from around the world banded together to aid industry partners, with the Swiss National Bank stepping forward to help out the struggling Credit Suisse while multiple large U.S. banks joined forces to lend First Republic $30 billion.

“Bulls have the solid near-term technical advantage as a fledgling price uptrend is in place on the daily bar chart,” Wyckoff said, and “The path of least resistance for prices is sideways to higher.”According to experienced cryptocurrency trader Crypto Chase, there are three possible scenarios moving forward for Bitcoin, with the $23,500 price level being the key level to focus on.

The third scenario revolves around a “clean break below 23.2K-23.5K [that] puts the initially anxious buyers underwater [as] they look to exit on upon any retest or backfill, causing sell pressure,” said Chase. “As it breaks down, this is where people begin “buying the dip” repeatedly, but the local uptrend is most likely cooked. Show me initial strength or I'm no longer interested in longs for a bit.

Nous avons résumé cette actualité afin que vous puissiez la lire rapidement. Si l'actualité vous intéresse, vous pouvez lire le texte intégral ici. Lire la suite:

KitcoNewsNOW /  🏆 13. in CA

France Dernières Nouvelles, France Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

Opinion: Remember the 2008 financial crisis – Canadians cannot be complacent about global shocksFor Canadians watching Silicon Valley Bank and Credit Suisse, ‘nothing to see here’ is a tempting, but dangerous, conclusion
Lire la suite »

The SVB drama isn’t as scary as 2008, but social media makes financial contagion tricky to manageWhen the 2008 global financial crisis hit, social media wasn’t nearly as interwoven into daily life as they are today
Lire la suite »

Bitcoin holds above $24k as the banking crisis spreads around the globeCryptos consolidated on Wednesday as many tokens saw their recent gains pared by profit takers while Bitcoin traded sideways but managed to hold above support at $24,000.
Lire la suite »

Trading Game Plan: Banks collapse, gold and silver rise, bitcoin surges, what's next?Kitco News' contributed commentary features articles and opinions from some of the top experts in the gold industry.
Lire la suite »

What next after Bitcoin Cash [BCH] reclaims $110 from riding BTC’s coattailsBCH’s correlation with BTC has led to a rally in its price If positive conviction remains, the coin’s value can be expected to appreciate even further Due to its statistically significant positive correlation with Bitcoin [BTC], Bitcoin Cash’s [BCH] price has also rallied in the last 24 hours. This, following the decision by the U.S. […]
Lire la suite »

Bitcoin [BTC] breaks $26k, CPI drops – is the euphoria backBTC nudged past $26,000 following CPI’s data announcement. Maximalists reiterated that the traditional financial system could not stop Bitcoin’s growth. Bitcoin [BTC] continued its unprecedented bullish run and climbed above $26,000 as the United States Bureau of Labor Statistics released its February Consumer Price Index (CPI) data. According to the country’s fact-finding agency, the CPI […]
Lire la suite »