🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

Bitcoin tests $46,000 before mid-session correction

Published 03/01/2024, 03:06 am
Updated 03/01/2024, 03:30 am
Bitcoin tests $46,000 before mid-session correction
BTC/USD
-

Bitcoin (BTC) continued to surge on Tuesday, hitting an intraday high of $45,879 before entering a mid-session correction in the European trading window.

Binance’s order book shows a strong sell wall at $46,000, suggesting that this will be a key resistance line for the bulls to overcome.

Sell orders can be seen on the red side of Binance’s order book – Source: binance.com

So far, no good, with BTC/USD steadily falling hour by hour until bottoming out at $45,150 at the time of writing.

The news cycle is working in bitcoin’s favour, with the gamut of spot bitcoin exchange-traded funds on the precipice of approval.

In a recent straw poll conducted by Proactive, analysts gave 2024 bitcoin price predictions between $50,000 and $250,000, though bitcoin’s infamous volatility means any estimate should be taken with a pinch of salt.

Read more on Proactive Investors AU

Disclaimer

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.