By now it is lunch time again. For crypto investors, that lunch will taste good as we look at the live Bitcoin price and prices of the top 25 crypto. Of course, we also look at the Bitcoin and crypto results of the past week. Then we look ahead with the Bitcoin forecast and share the key quotes investors are following right now.
We begin, of course, with the live Bitcoin price and the prices of the top 25 crypto.
Live Bitcoin price and prices top 25 crypto are rising fast
At the time of writing, the live Bitcoin price is quoting EUR 28,606.08 ($30,704.32). This is 5.87% higher than yesterday at lunchtime and 6.11% higher than during our Bitcoin lunch last Friday.
The prices of the top 25 crypto are also rising rapidly. Apart from a few stable coins, we see only green numbers. The biggest gain of the day so far is for Near Protocol (NEAR), which is recording 12.89% gain.
Positive BTC price helps week result, month result still lamentable
The positive start of the week obviously has its effect on the weekly results. Although we still see a lot of red numbers the picture is more positive than last week.
The best result of the crypto top 25 in the past week is for Leo Token (LEO), which records +5.84%. The biggest loss of the week is at -13.69% for Avelanche (AVAX). Bitcoin (BTC) is trading + 1.08%.
As mentioned, the good start to the week has not yet had enough impact to make the monthly results positive. These are still negative with the exception of Tron (TRX) and some stable coins. Tron (TRX) is currently trading at +29.70% over 30 days. Avalanche (AVAX) is also the laggard here with a loss of 56.73. Of course, Terra (LUNA) had an even greater loss, but this coin is no longer in the top 25. In our special from this weekend, you can read all about the rescue attempts. You can also read whether your Dutch crypto exchange supports the Terra airdrop. Bitcoin (BTC) has lost 20.62% over the last 30 days.
On the site of Tradeincrypto.com you can analyze all results and live crypto prices 24 hours a day.
Is uptrend BTC a trend reversal or should we watch out for a correction?
The BTC moved between the ranges of $29,000.00 and $30,000.00 for a long time. With that, a breakout is obvious. Whereas last week we saw the price shoot below $29,000 and a downward breakout was expected, we could now reason the other way around. The technical analyses give no reason for this at the moment.
First of all, the price above $30,000.00 should prove stable. Since the US financial markets are closed today, this is not yet the case.
The thinking in the market is that there is now a so-called “relief rally,” where the price may rise temporarily. However, it seems that private investors are investing less in (crypto) investments due to price increases. Analysts such as Mark Newton of Fundstrat therefore doubt a sustainable bull rally. They expect the rebound to be temporary and a hefty price drop to be expected.
On the other hand, there are the positive opinions such as PlanB’s. Based on his S2F model, he expects a further breakout. He too finds support from other analysts.
So it is good to set yourself up for trading in an uncertain market. In such a case, it is advisable to follow the prices that the experts are monitoring.
These are the key rates that Bitcoin experts follow
With the rise in price, BTC has turned the top of the range (between $30,500.00 and $30,600.00) into the first support level that the price must stay above. To discover constancy in the bull rally, the BTC price will have to rise above $31,000.00. Only with a rise above $32,000,- one assumes a stronger rally. This could push the price up to $37,500.00 and $40,000.00. These are the resistance levels at the 0.5- and 0.618 Fibonacci retracement level.
On the other hand, there is a support level of $29,000.00. This means that further consolidation will occur if the price drops back between $29,000.00 and $30,000.00.
If the support level at $29,000 is broken there is the 0.618 Fibonacci retracement support level just below at $28,700. If this level is also broken to the downside, a price drop can go fast. Various analyses show that the next strong support level is then only at $ 20,000.
It therefore promises to be an exciting week, which we will of course report on with our Bitcoin and crypto updates.
Investing but not (only) in BTC and crypto?
It’s not just getting exciting in the crypto market. In our weekly price forecast for other popular investments, we see that it is a week of contradictions. These contradictions indicate a dangerous, but promising investment environment. How this will affect the expected price development for investments such as (AEX) equities, oil, gold and FOREX can be read in our price forecast that we published this morning on our sister site MANNERS.nl.
Want to stay informed about 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.”