Upward movements in the Bitcoin tomorrow’s market; What will be the market tendency until the beginning of 2022?
There are clues in the market of Bitcoin futures that could further pave the way for a new uptrend. However, most experts anticipate the price stabilization trend to continue until the beginning of 2022.
As the according weekend draws to a close, apparently fear remains the predominant sentiment in the digital currency market for the short term, Kevin Telegraph. Premature today, the price of Bitcoin fell to $ 47,250, and investors were alarmed after the Cost emancipation of data on the Consumer Index US, which showed that inflation reached its highest level of 6.8% in the last 40 years. They became many.
New data shows that the pressure that buyers put on the market yesterday to regain the support of $ 50,000 has been broken. And sellers have returned the price below $ 48,000, which could form another downtrend in the 1-day market bit. Kevin lead.
Descending peaks are circumstances in which the new elevation is recorded lower than the previous peak and the price decreases in steps.
Traders have redirected their focus to risk management and specifying the best levels to buy at the price floor, assuming that prices will grow enormously and rapidly by the end of the year. In the following. We will examine analysts’ views on the Bitcoin price perspective in the days leading up to 2022.
The fall in the volume of open contracts is a way to continue the upward trend.
As we had seen before, when the price of bitcoin declined sharply. The volume of open contracts in bitcoin futures markets also decreases sharply. Analytical company Delphi Digital in its new report, also points to a 50% reduction in the importance of open bitcoin contracts, which occurred after the last fall in price and the liquidation of a large book of high-leverage trading opportunities.
This experience is unpleasant for traders. Who has taken too many risks? However, analysts believe that such events, which lead to a reduction in trading leverage, are beneficial in the long run. And often open the way for the uptrend to continue. Because of this, the previous tiny bubbles and excessive excitement in the market. A more logical trading environment will replace it.
According to Delphi Digital, the rapid decline in open contract volumes over the past month may signal the formation of a short-term price floor for Bitcoin. And the current selling pressure is likely to end soon.
Delphi Digital said:
The 30-day reduction in the volume of open bitcoin contracts has reached levels. That were previously seen as a sign that a price floor is approaching or approaching.
Limited price fluctuation of bitcoin until the beginning of 2022
Jarvis Labs co-founder Ben Lilly has said he expects the bitcoin price to remain in the range until the end of the month. Fundamentally, because on December 31 (December 10), we will see an increase in the volume of open contracts.
As part of her argument, Lily cites cases in which sharp price declines have led to the liquidation of large volumes of trading positions—exemplifying that it usually takes some time for the market to rev after these corrections.
Lily added:
Fortunately, this is a good possibility for anyone. For who wants to gather [bitcoin] every week or at the base of this price range.
Should traders wait for the uptrend to continue?
Rekt Capital, a digital currency market reviewer on Twitter, has published an illustration of a bitcoin chart in which prices fluctuate between two essential exponential moving norms.
Capital Company has written in this concern:
In widespread, bitcoin currently stabilized between two moving averages, just like May 2021 (May). The persistence and continuance of the price stabilization trend between these two moving averages are similar to the same period. It will reveal the continuation of a new macro upward trend.
The total market value of digital currencies is currently estimated at $ 2.238 trillion, and the bitcoin dominance rate is about 40%.
