Bitcoin (BTC) Big boost started this afternoon! At the time of writing, the price is trading above $50,000 and hopes for an additional recovery remain. In this article, you can read the market update about the latest status of cryptoland.
Bitcoin (BTC) Jumps Away
From Bitcoin price I started picking up at a decent size around 4:00pm. This move comes after a long period of consolidation with little volatility. Bitcoin is now approaching the upper zone of the price range it has been trading in since early December. At the time of writing, the price of Bitcoin is at $50,994 on the cryptocurrency exchange Queen Piece.
Before this move, we saw the so-called BTC double bottom Forms. This is a shape recognizable by the double bottom where the space between low swing and the swing high target price. And this goal has been almost reached:
The local double bottom at approx. pic.twitter.com/eHdMbal9hY
– Wolf of All Streets (scottmelker) December 23, 2021
according to on the chain Analyst Will Clemente, this movement could be just the beginning of short squeeze. Because many traders use BTC fall short, So expect the price to go down, the price is now going up, and closing those short positions may trigger another rally. This short squeeze is now happening “faster than expected,” according to Clemente.
Finally, with this move, Bitcoin appears to be out of range peg falling to break. Here’s what The Crypto Dog Twitter shows on the daily chart:
Let it ride pic.twitter.com/8XBWyiZMSK
– The Crypto Dog📈 (TheCryptoDog) December 23, 2021
Altcoins are rising along with Cardano in the lead
The biggest climber out of the top ten is Cardano (ADA) This finally shows something beautiful. Altcoin is 8.4% in positive and over the past 7 days up 14.7%. The ADA is now valued at $1.45.
The total market capitalization is now $2.38 trillion, up 4.3% over the past 24 hours. Nearly $200 billion in value has been added in the past three days. Is this the start of the year-end sprint race? It will be a beautiful ending to 2021!
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