Pcex Blog
No Result
View All Result
  • Home
  • Topics
    • Crypto Market
    • Crypto Exchange
    • Blockchain
    • Cryptocurrency
    • Fintech
  • Insights
    • Press Release
    • PCEX Watch
    • Circulars
  • Video
  • Academy
Subscribe
Pcex Blog
  • Home
  • Topics
    • Crypto Market
    • Crypto Exchange
    • Blockchain
    • Cryptocurrency
    • Fintech
  • Insights
    • Press Release
    • PCEX Watch
    • Circulars
  • Video
  • Academy
No Result
View All Result
Pcex Blog
No Result
View All Result
Home Topics Crypto Market

Crypto Market Sentiment is Finally Beginning to Shift as Bears Lose Steam, Oil Demonstrates Slight Losses

by Pcex Team
March 9, 2019
in Crypto Market, Cryptocurrency
3 min read
0
pcex.io
154
SHARES
1.9k
VIEWS
Share on FacebookShare on Twitter

 

pcex.io

BTC (Bitcoin) is on track to post gains for the fourth consecutive day following a recent bout of volatility from last weekend. Importantly, the crypto is currently caught in a trading between approximately $3,700 and $4,200, which BTC may be stuck between for an extended period of time.

Josh Rager, one of the most popular figure within the cryptocurrency industry is claiming that the market sentiment is beginning to shift as fund managers begin to believe that the low-$3,000 region is a long-term bottom for the cryptocurrency.

Currently, Bitcoin is trading up marginally at its current price of $3,940. Over the past several days, BTC has been able to climb slightly after facing increased volatility over this past weekend.

Bitcoin and the entire crypto markets over the past month or so, have generally incurred volatility over the weekends, which may stem from lower-than-average trading volume.

Popular cryptocurrency trader, Josh Rager, recently shared his thoughts on Bitcoin’s current price action, noting that it is currently caught in a trading range between $3,700 and $4,200, and further adding that BTC faces incredibly strong resistance at $4,700.

Rager explained, “$BTC Weekly Chart… Zoom out, currently ranging between $3,600 to $4,200. If Bitcoin pushes up, I don’t see it closing above the weekly resistance near $4,700 and that’s my short position. A drop would retest Weekly MA which has held $BTC price (break below weekly MA is bearish).”

Currently, Bitcoin’s weekly MA is set at approximately $3,550 according to the chart that Rager referenced.


Sentiment May be Shifting as $3,000 Holds as Strong Level of Support


Founder and partner at Morgan Creek Digital, Anthony Pompliano, recently explained that the drop to $3,000 significantly impacted the overall crypto market sentiment, but further added that BTC’s ability to hold steady above $3,000 may signal that this price is a long-term bottom, which is leading many fund managers to have a more optimistic outlook on the markets.

Oil Rates Go Down


U.S. WTI (West Texas Intermediate) crude futures slumped by 58 cents, or 1.02 percent over the day, and is trading at around $56.08 at press time. CNBC reports that earlier today WTI lost more than 3 percent reaching the three-week low at $54.52.

Also, Brent Crude futures are down 0.77 percent, or 51 percent on the day, and are trading at around $65.79. The international benchmark for oil prices was reportedly on pace for a roughly 1 percent gain on the week.

As MarketWatch reported today, the Dow Jones Industrial Average fell by 200 points, or 0.08 percent to the price point of $25,270, while the S&P 500 index lost 0.6 percent to trade at around $2,743.

Do you see a pattern between the crypto and oil market? Let us know in the comments below.

Tags: bitcoinblockchaincryptocrypto marketcrypto tradingcryptocurrencycryptocurrency exchange
  • Trending
  • Comments
  • Latest
pcex-b2b-model

Introducing PCEX B2B Model

June 17, 2020
benefits-of-being-a-pcex-trading-member

Benefits of being a PCEX Trading Member

June 17, 2020
PCEX.IO

Global Cryptocurrency Exchange PCEX Introduces New Trading Member in India DIGI BROKING

August 10, 2020
PCEX Introduces Crypto Trading Platform For Indian Users

PCEX Introduces Crypto Trading Platform For Indian Users

June 17, 2020
Blockchain technology and Digital identities — A positive fit?

Blockchain technology and Digital identities — A positive fit?

2
Crypto Trading Gets Completely Automated as Napston launches a one-of-its-kind exchange

Crypto Trading Gets Completely Automated as Napston launches a one-of-its-kind exchange

1
New crypto exchange, DARICO, will be owned by the users; the exchange is expected to be 100 % democratic

New crypto exchange, DARICO, will be owned by the users; the exchange is expected to be 100 % democratic

1
The seed token project- Powering AI and the bot economy on blockchain.

The seed token project- Powering AI and the bot economy on blockchain.

1
pcex.io blog

PCEX Introduces C2USD Margined Monthly & Weekly Future Contracts

December 21, 2020
PCEX.IO Blog

PCEX Listed Ripple and Stellar for Trading

December 10, 2020
PCEX Io Blog

World’s Leading Cryptocurrency Exchange PCEX Launches Futures Trading

December 9, 2020
PCEX.IO

Global Cryptocurrency Exchange PCEX Introduces New Trading Member in India DIGI BROKING

August 10, 2020

Recent News

pcex.io blog

PCEX Introduces C2USD Margined Monthly & Weekly Future Contracts

December 21, 2020
PCEX.IO Blog

PCEX Listed Ripple and Stellar for Trading

December 10, 2020

Categories

  • Academy
  • Blockchain
  • Circulars
  • Crypto Exchange
  • Crypto Market
  • Cryptocurrency
  • Fintech
  • Insights
  • PCEX Watch
  • Press Release
  • Video

Site Navigation

  • Advertisement
  • Contact Us
  • Privacy & Policy
  • Other Links
Pcex Blog

PCEX is a cryptocurrency/digital asset exchange on which you can trade Bitcoin(BTC), ETH & altcoin at a very lowest fees.

© 2020 PCEX

No Result
View All Result
  • Advertisement
  • Contact Us
  • Insights

© 2020 PCEX

Translate »