Bitcoin Price Holds At $27,100 The Crypto King Is Stuck In A Rut

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Bitcoin Price Holds At $27,100 The Crypto King Is Stuck In A Rut

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Bitcoin (BTC) price surprised traders and investors over the past weekend, surging nearly 10% in a new uptrend. Since then, however, little has moved for the crypto king as he is stuck in a non-leading bias.

The standstill appears to have given the bears a chance to rally the market, with bitcoin down almost 3% on the day to trade at $27,137. Notably, more than 50% of the country was cleared in the weekend's rally, hinting at more losses for the crypto king.

Bitcoin price shows a strong contrast between the Pulsechain DEX and the spot market price

Meanwhile, the price of Bitcoin on decentralized exchange (DEX) PulseChain recently touched $70,000, a surge that catapulted BTC above its current price range of $27,000. The report comes after the DexScanner platform reported real-time liquidity and trading volume on decentralized exchanges, with trading volume approaching $19.8 million over the past 24 hours. May 24th.

Although the price surge lasted about 10 minutes after the 20-minute surge, it was mostly against Bitcoin's spot price. (Compare the two graphs presented in this article).

The volatile price development seen in the chart above can be attributed to the relatively low liquidity of the Wrapped Bitcoin token (WBTC). For the observant reader, WBT is a bitcoin-related digital asset circulating on the Ethereum network.

Earlier this month, Bitfinex's price saw a sudden and brief spike on permanent exchange Bitfinex, where the price surged to $56,000, a notable improvement from levels seen on other platforms and in the moments before and after the event of the Bitfinex exchange were observed. .

To put the above data in context, earlier this month there was a sudden surge in bitcoin trading that coincided with the rise in BTC price. As with Bitfinex Bitcoin Perpetual Contracts, trading volume increased to 322 BTC, or $9.1 million. Notably, it accounts for almost a quarter of the daily volume of the WBTC/WPLS trading pair. According to Bitfinex trading platform, some traders have had to liquidate their positions due to the rapid surge.

However, some analysts are bullish on BTC. BitMEX co-founder and former CEO Arthur Hayes said he believes the price of Bitcoin will surge above $1 million.

Bitcoin price prediction while maneuvering BTC mines

Bitcoin price is trading with an implied bias to higher timeframes, driven by the uptrend since April 19th. If BTC fails to clear the resistance presented by this obstacle, investors must expect further losses.

Meanwhile, BTC lost the 50-day exponential moving average (EMA) support at $27,424 as bitcoin price continued to move diagonally along the downtrend line. This came after the resistance level shifted during Wednesday's session and pressure mounted.

Therefore, further upward pressure could see bitcoin fall back into the $25,000 area, which will mark a strong break of the 100-day EMA at $26,489 or $25,923 and the 200-day EMA at 25,118 US dollars would mean.

As you can see from the chart below, the Relative Strength Index (RSI) is also down, suggesting that buyer participation is waning. The RSI's position below the midline indicates that the bears have been trapped and the price of Bitcoin may fall further.

Moreover, the MACD (Moving Average Convergent Divergence) indicator was also in negative territory, suggesting that the bears are leading the market. This and the faded histogram added confidence to the bearish position.

On the other hand, a bullish recovery and subsequent buying pressure could see Bitcoin retesting the resistance offered by the bottom line around $28,600. It will just be a bearish theory to support the bulls. A critical candle above the $30,801 block was rejected.

A promising alternative to Bitcoin

Shift your focus from Bitcoin and consider DLANCE as a token for the DeeLance ecosystem. As a new entry into the decentralized cryptocurrency market, the project shows where the world can work together more intelligently.

DeeLance is a freelancer and recruitment platform powered by Web3 technology to transform the way freelancers connect with employers.

It is built on a strong foundation supported by three strategic pillars: a non-volatile equity market (NFT), a comprehensive transformation and an innovative recruitment platform. All three cores provide comprehensive infrastructure to simplify the standalone process and provide a seamless experience for every user.

If you think about it, the project will make the most needed change in the generation of terminals, because freelancing has become a real profession. The project goes a step further by offering job transparency and digital ownership to freelancers and buyers.

DeeLance is based on the Metaverse concept of a Web3-based digital ecosystem for professionals and innovators to create new ways in an efficient, flexible and fast-paced environment.

The project will also provide high-skilled employment opportunities. Here buyers can meet the best experts in the industry. This will help you identify the right skills and experience for the job at hand.

Additionally, using the platform of a fully decentralized platform supports this feature. This is because it offers global coverage. In addition, the platform's extensive experience in human resources ensures that clients achieve the best results. This is the result of approved independent professional selection protocols. 

pre sales

The project started with the recent pre-sale of DLANCE, a generation token running on the Ethereum blockchain. The total supply of DLANCE tokens is 1 billion, the utility of the token is realized in the ecosystem.

The token aims to provide users with a seamless transaction process that will enhance or improve their overall experience. Cases where the sign is used include:

  • Buy land and virtual offices on Metaverse
  • Buy NFT on the NFT market
  • office for rent
  • promotional purposes
  • Pay for services or purchase additional features in the DeeLance ecosystem

This token will be auctioned for 0.029 USDT. Buyers only have a few hours to reach the next level. Buyers will receive DLANCE worth 0.038 USDT. This means now is the best time to buy DLANCE, so you can start making money from investors as soon as you sign up. The entry price is fixed at 0.055 USDT.

To learn more about the DeeLance cryptocurrency, watch this video for an in-depth look at the project. You can also subscribe to our YouTube channel to follow the progress of your project.

More details:

Wall Street Memes – The Next Big Crypto

  • The Early Access presale is now open
  • An established community of stock and crypto traders
  • Featured on BeInCrypto, Bitcoinist, Yahoo Finance
  • Meme Coin is currently considered the best cryptocurrency in this sector.
  • The team behind the OpenSea NFT Collection - Wall St Bulls
  • Elon Musk responded to the tweets

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