BTC’s Price May Retest $26K This Week, Says Popular Trader

  • Analyst Bluntz tweeted that BTC’s price may retest $26K this week highlighting waning bullish momentum.
  • The crypto market leader’s price has risen 0.97% in the last 24 hours according to CoinMarketCap.

The crypto trader that goes by the name Ali (@ali_charts) tweeted this morning that there is a significant buy wall present for Bitcoin (BTC). According to the tweet, a strong buy wall for BTC exists between $27,170 and $27,970. There are approximately 1.45 million addresses that bought more than 700,000 BTC within this price range, stated the tweet.

Ali believes that if this buy wall holds, then BTC’s price will likely climb, adding that there is little to no resistance for BTC to climb higher from this level.

BTC buy and sell walls (Source: Twitter)

Meanwhile, the crypto trader Bluntz (@Bluntz_Capital) tweeted a more bearish outlook for BTC this morning. According to his latest tweet, the bullish momentum for BTC is beginning to wane. The trader also shared that he believes BTC will look to retest the $26K level this week.

At press time, the price of the crypto market leader is up 0.97% over the last 24 hours according to CoinMarketCap. This 24-hour gain in BTC’s price has been unable to flip BTC’s weekly performance into the green. Currently, BTC’s price is down 0.65% over the last 7 days. As a result, BTC’s price stands at $27,809.63 at press time.

BTC’s dominance in the market is also up 0.24% over the last 24 hours. This takes its dominance in the crypto market up to 46.24% at press time. The leading crypto’s market cap stands at $537,650,143,541 while the total crypto market cap is estimated to be around $1.16 trillion.

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.

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