By now it’s lunchtime again, so it’s high time to take a look at the live Bitcoin (BTC) price and the prices of the top 25 crypto. Then we’ll look at how the decline in monthly options ended, whether there is a bull trend and what the Bitcoin (BTC) price key quotes are for this weekend and the coming week.
We begin, of course, with the live Bitcoin price and the prices of the top 25 crypto.
Live Bitcoin (BTC) price and prices top 25 crypto rise further
At the time of writing, the live Bitcoin (BTC) price is quoting EUR 23,546.49 ($24,004.10). This is 4.31% higher than yesterday around this time and 12.7% higher than during the last Bitcoin lunch before the Fed interest rate decision.
The prices of the coins in the top 25 crypto continue to rise as well. Besides the stable coins, only Leo Token (LEO) records a small loss at -0.83%. The biggest gain at the moment is for Ethereum Classic (ETH), which is listed +25.10%, but there are more coins that write their profits in double digits. On the site of Tradeincrypto.com you can analyze all the results and live crypto prices 24 hours a day, including the whole weekend.
BTC price rise scares away bears with loss
At 10 a.m. this morning, monthly options for Bitcoin (BTC) expired. If the price had been higher than $24,000 at that point there would have been a $1.76 billion profit for the bulls to make, but the price spiked a little too early. The Bitcoin (BTC) price was highest today so far at $24,277.14 at 8:49 a.m. Dutch time. At 10 a.m., however, the price posted $23,930.35. With this, the bulls and the bears kept each other in balance at the monthly options.
Still, today’s price increase caused traders speculating on a price loss for BTC to have a bad day. Today alone they lost $400 million. More than 90,000 traders lost everything with it.
Is the BTC price really bullish now? Bitcoin Key quotes for the weekend
With the price increases, the question naturally arises as to whether the Bitcoin (BTC) price can finally form a bullish trend again or whether we should still reckon with a pullback.
Looking at the technical analyses we see that all technical indicators are in the green. Thus, the first key price for a bull scenario is the 50-day moving average at $23,150. As long as the BTC price stays above that, the bears seem to have no chance. After that, it is important that the Bitcoin price is above $24,000 by the end of the day.
If this is the case, very strong resistance awaits at $25,000. If this is broken the way is open for further price increases. If it is not broken, the question is how far the BTC price will be pushed back by the failed attack. As long as the price stays above the 200-week moving average (between $22,700 and $22,800), but does not pass the $25,000 mark, there is talk of a consolidating price. A break below $22,800 puts us back into the bearish pattern described earlier, with $20,000 becoming the next key price.
If the Bitcoin (BTC) price does manage to break through $25,000, the way is open for further price increases.
Bitcoin (BTC) price week forecast
So at the end of the weekend we will know whether the market developed bearish, bullish or consolidating. We have already outlined the bearish scenario several times and the consolidating level speaks for itself. Looking further down the road we see that the next strong resistance is at $28,656. So with that, the market seems to be heading for an 18% price increase.
These 3 warning signals could break the Bitcoin (BTC) bull trend.
To see which way the market is moving, there are 3 technical indicators that can signal that this bull rally is over. These are:
The 200-week moving average (between $22,700.00 and $22,800.00);
The 30-day moving average at $ 22,245.- and
A daily close below $21,115.00.
By the way, a further price drop does not seem to be imminent. Indeed, there is a strong support level between $19,000 and $20,000 as you can see in the video analysis below.
It remains wise to prepare for trading in an uncertain market.
Want to stay up to date on the latest price developments?
You can always follow the developments yourself with our WANT crypto analyses or the background articles and previews on the crypto market and Bitcoin. Of course, you can also follow the live quotes 24 hours a day if you want to stay informed in real time. Are you interested in other investments besides crypto? Then our weekly Monday morning price forecast might be a reading tip. “Please note: We never give financial advice, so our contributions can’t be interpreted that way either. Always do your own research and decide on rational grounds if, when, what and how much you want to invest in.”