Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Crypto Analyst Says Traders’ Instincts on Bitcoin’s Trajectory May Be Wrong As BTC Approaches Monthly Close

by Daily Hodl Staff
September 27, 2020
in Bitcoin, Ethereum, Trading
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎
ADVERTISEMENT

A closely-followed pseudonymous trader and crypto analyst says that traders’ gut reaction to Bitcoin’s recent price action might be wrong as the top cryptocurrency nears its monthly close.

In a tweet, DonAlt says the prevailing bearish sentiment for BTC appears to be unwarranted.

“It’s very, very weird seeing sentiment be this bearish, with neutral or negative funding above $10,000. Don’t think I can remember a time where that has happened before.”

The trader explains that the recent BTC pullback is actually a strong bullish signal.

“BTC monthly:
Currently looks like a simple retest of support, as long as we don’t crash in the next couple days, that’s typically bullish.”

Source: DonAlt/Twitter

The trader also highlights that the number one cryptocurrency has been outperforming traditional assets such as the S&P 500 and gold.

“SPX and GOLD put in a tiny bounce, BTC put in a huge one. Shows you where the strength is (was apparent even before the breakdown, hence my BTC will outperform comment).”

Source: DonAlt/Twitter

The crypto analyst is also keeping close tabs on Ethereum (ETH). While the second-largest cryptocurrency suffered a major technical breakdown recently, he says its resilience over the last few days makes it more difficult to guess where it is headed in the shorter time frame.

“Honestly surprised by ETH’s strength. The down-move I was expecting played out, but it didn’t fully collapse and found buyers quickly. This is either a neckline retest or the entire down move was a shakeout.”

Source: DonAlt/Twitter
ADVERTISEMENT


Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Crypto Livewire – Press Releases

  • eToro and DS TECHEETAH Change Face of Sponsorship With Unique Profit Only Deal
    March 3, 2021
  • Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming
    February 26, 2021
  • Bang Bang: Critical Factors Fueling Rise of the Retail Investor
    February 25, 2021
  • How Traders Make Money in Both Bull and Bear Markets on BigoMex
    February 25, 2021
  • Student Coin Found New Ways to Use Crypto
    February 24, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$49,018.00
$49,018.00
4.97%
Ethereum
$1,550.86
$1,550.86
3.64%
Binance Coin
$241.54
$241.54
5.07%
Polkadot
$36.23
$36.23
5.54%
Cardano
$1.20
$1.20
4.91%
XRP
$0.452578
$0.452578
0.59%
ADVERTISEMENT

Spotlight

  • Confusion Over Billion-Dollar Whale Transfer May Have Triggered Crypto Crash, According to On-Chain Analyst Willy Woo
    February 25, 2021
  • This Highly Misunderstood Altcoin Is Set To Explode, Says Crypto Trader Tyler Swope
    March 1, 2021
  • $630,000,000 in Bitcoin Just Left Coinbase, According to CryptoQuant
    February 26, 2021
  • Google Spotlights Bitcoin, Ethereum and Litecoin in New Finance Crypto Section
    March 2, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.