CryptoMediaClub
Tuesday, July 29, 2025
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis
No Result
View All Result
CryptoMediaClub
No Result
View All Result
Home Bitcoin

Bitcoin sparks liquidations as analyst says BTC price may dip 12% more

17.04.2023
A A
0
124
VIEWS
ShareShare

Bitcoin (BTC) headed lower into the April 17 Wall Street open as downside began liquidating longs.

BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView

Bitcoin’s price tipped for a break below $29,000

Data from Cointelegraph Markets Pro and TradingView showed BTC/USD wicking to $29,247 on Bitstamp — its lowest in a week.

Gains for Asian stocks failed to rescue the losses on the day, these beginning immediately after the April 16 weekly close.

Traders, many of whom had predicted a retest of $30,000 support, were unsurprised, with many hoping that the event would form a “buy-the-dip” opportunity before Bitcoin moved higher.

Popular trader Crypto Ed said that BTC/USD had “swept the lows,” while others focused on the area around $28,500 as a potential bottom zone.

$BTC
Some level of support at 29.2 may gave some reaction but 28.6 will be the retest of a major level and a significant one at that. https://t.co/LASJfYoZmb pic.twitter.com/sdLrP51082

— XO (@Trader_XO) April 17, 2023

“BTC bid ladders down to $28.5k want to get filled, but it’s worth noting that the phrase, ‘There are no straight lines in trading’ applies in both directions,” monitoring resource Material Indicators summarized, noting shifts in liquidity on the Binance order book.

BTC/USD order book data (Binance). Source: Material Indicators/Twitter

Material Indicators co-founder Keith Alan eyed the 21-day moving average at $28,860 as short-term support.

Should this fail to hold, he said, it might spark a retest of the 200-week moving average at $25,860 — around 12% lower than the current spot price and 16.5% below the recent local high.

#Bitcoin starting the week with some downside volatility. If Technical Support at the 21-Day Moving Average doesn't hold, I expect a long awaited retest of the 200 Week Moving Average. #NFA pic.twitter.com/jPksE4sAIh

— Keith Alan (@KAProductions) April 17, 2023

Despite the broad optimism, Bitcoin bulls were feeling the pain at the time of writing, with long liquidations for April 17 totaling nearly $29 million, according to data from Coinglass. Cross-crypto liquidations stood at nearly $67 million.

“Key level here for Bitcoin,” financial commentator Tedtalksmacro added.

“Reclaiming $29.7k is key for new highs… you wanted dip, this is the dip!”

Bitcoin liquidations chart. Source: Coinglass

U.S. dollar seeks “telegraphed” double bottom

United States equities saw a muted reaction at the open, with the S&P 500 and Nasdaq Composite Index both up by around 0.1%.

Related: BTC price heading under $30K? 5 things to know in Bitcoin this week

The U.S. dollar made more solid gains, with the U.S. Dollar Index (DXY) above 102 after bouncing from its lowest levels in a year.

U.S. Dollar Index (DXY) 1-day candle chart. Source: TradingView

“Watch $DXY today,” analyst Justin Bennett told Twitter followers.

“If this plays out, it’ll be the most telegraphed bottom that most failed to see bc they were promised a new bull market.”

U.S. Dollar Index (DXY) annotated chart. Source: Justin Bennett/Twitter

Magazine: Why join a blockchain gaming guild? Fun, profit and create better games

The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Share10Tweet6ShareSharePin2

Related Posts

Coinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge
Bitcoin

Coinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge

15.07.2025
0

BitcoinWorldCoinbase’s Astounding $100 Billion Milestone Amidst Bitcoin’s Record Surge The cryptocurrency world is buzzing with excitement, and for good reason!...

Read moreDetails
Bitcoin’s Unseen Ascent: Why Market Euphoria Is Still Ahead, According to Alphractal CEO

Bitcoin’s Unseen Ascent: Why Market Euphoria Is Still Ahead, According to Alphractal CEO

14.07.2025
Bitcoin Holdings Soar: The Blockchain Group’s Momentous Digital Asset Accumulation

Bitcoin Holdings Soar: The Blockchain Group’s Momentous Digital Asset Accumulation

14.07.2025
Bitcoin’s Astonishing Anomaly: Why Public Search Interest Remains Low Despite Record Highs

Bitcoin’s Astonishing Anomaly: Why Public Search Interest Remains Low Despite Record Highs

14.07.2025
Bitcoin Treasury Strategy: Unleashing Growth with The Blockchain Group’s $3.52M Boost

Bitcoin Treasury Strategy: Unleashing Growth with The Blockchain Group’s $3.52M Boost

08.07.2025
Load More
Next Post
Investors flock to Bitcoin after Ethereum’s Shapella upgrade

Investors flock to Bitcoin after Ethereum’s Shapella upgrade

0 0 votes
Рейтинг статьи
Subscribe
Notify of
guest
guest
0 комментариев
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Recommended

[LIVE] Crypto News Today: Latest Updates for July 7, 2025 – “Fiat Is Hopeless”: Elon Musk Says ‘America Party’ Will Embrace Bitcoin

[LIVE] Crypto News Today: Latest Updates for July 7, 2025 – “Fiat Is Hopeless”: Elon Musk Says ‘America Party’ Will Embrace Bitcoin

3 weeks ago

BTC, ETH Retrace, Tesla Sold No Bitcoin in Q1, New Memecoin (PEPE) Hype Soars: This Week’s Market Recap

2 years ago
Bitcoin Price Prediction: Falls to $60,620 Amid Fed Rate Cut Speculation and ETF Inflows

Bitcoin Price Prediction: Falls to $60,620 Amid Fed Rate Cut Speculation and ETF Inflows

1 year ago
USD-Pegged Stablecoins Could Boost Dollar Dominance: Fed Governor

USD-Pegged Stablecoins Could Boost Dollar Dominance: Fed Governor

1 year ago

Categories

  • All news
  • Altcoins
  • Analysis
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
No Result
View All Result

Highlights

South Korea’s Biggest Parties Roll Out Stablecoin Bills, Clash on Interest Payment Plans

Bitcoin Faces Doomsday Scenario as Whales Exit – Bitcoin Hyper (HYPER) Rewrites the Narrative, ICO Hits $5.4M

Bitcoin steadies near $114,800 but fragility risk rises as leverage climbs

BNB ($BNB) Bulls Charge Ahead to $843, Can Institutional Momentum Push It Higher?

Bitcoin Market Cycles and BTC Rallies Are Outdated

Bitcoin Price Prediction: Global Firms Pour $86B Into BTC – Could This Trigger a New “Institutional Supercycle”?

Trending

Interactive Brokers Mulls Stablecoin Launch to Serve Users
All news

Interactive Brokers Mulls Stablecoin Launch to Serve Users

29.07.2025
0

Interactive Brokers is weighing the launch of its own stablecoin, potentially deepening its involvement in digital assets...

Crypto Price Prediction Today 28 July – XRP, Solana, Dogecoin

Crypto Price Prediction Today 28 July – XRP, Solana, Dogecoin

29.07.2025
BlackRock’s ETHA becomes 4th-largest ETF by 30‑day inflows as Ethereum funds aim for $10B

BlackRock’s ETHA becomes 4th-largest ETF by 30‑day inflows as Ethereum funds aim for $10B

29.07.2025
South Korea’s Biggest Parties Roll Out Stablecoin Bills, Clash on Interest Payment Plans

South Korea’s Biggest Parties Roll Out Stablecoin Bills, Clash on Interest Payment Plans

29.07.2025
Bitcoin Faces Doomsday Scenario as Whales Exit – Bitcoin Hyper (HYPER) Rewrites the Narrative, ICO Hits $5.4M

Bitcoin Faces Doomsday Scenario as Whales Exit – Bitcoin Hyper (HYPER) Rewrites the Narrative, ICO Hits $5.4M

29.07.2025
  • All news
  • Altcoins
  • Bitcoin
  • Blockchain
  • Ethereum
  • NFT
  • Analysis
Editor: cryptomediaclub.com@gmail.com
Advertising: digestmediaholding@gmail.com

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

No Result
View All Result
  • All news
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFT
  • Blockchain
  • Analysis

Disclaimer: Information found on CryptoMediaClub is those of writers quoted. It does not represent the opinions of CryptoMediaClub on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoMediaClub covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.

© 2023 Crypto News. All Rights Reserved

wpDiscuz