Bitcoin's Resilience: Returns to $26K Support Amidst Market Volatility

[jossiel]

Furthermore, on-chain data reveals an increase in the number of transactions occurring on the BTCitcoin Network, rising from 415,000 to 430,000. While this surge in activity has not had a substantial impact on Bitcoin's price, it has elicited concerns among investors due to the heightened activity amid the ongoing market downturn.

The impact won't be felt quickly on an instant, it takes time until we see the impact of it if you're wanting to see it through the price. But that's okay that we're seeing the surge in transactions but not with the price.

It only means that there's more demand and later on the price will eventually have to increase.

I think we're also done with seeing the price too low and from its bottom.

[Husires]

The level that we monitor is $ 24,995 if the price does not move away from touching this level soon, we will see the levels of 21,000, which is supported by indicators such as the RSI index (RSI), which appears to be a representation of a sale signal.

But I am not optimistic, even if we move up a little bit, the level of resistance at 29k is still strong and does not seem that it will be broken soon. we will be less than 29k for the coming months.

[Ahli38]

I don't know since when did I start not to care too much about small movements that occur in the market. Maybe this happened after I focused too much on my DCA. Because I want to achieve my target before the halving occurs. This is what makes me even smile when I see bitcoin corrected. And I pay attention to Bitcoin movements only to support my analysis in daily trading on Altcoins. Whereas in Bitcoin I don't feel worried. And about the SEC losing to Grayscale in court. Currently Grayscale is urging the SEC to immediately approve the spot Bitcoin ETF that has been submitted by Grayscale. Bitcoin will shine in time. The SEC won't be able to hold it much longer.