9 days ago • Posted by Paul de La Baume

#Bitcoin headed higher? #crypto $BTC $ETH $BITO $QQQ #trading

Bitcoin trades higher on Monday, above the key psychological level of USD20'000, after falling below USD18'000 over the weekend. Traders fear liquidations could worsen the crypto rout. Nonetheless, the rebound points to some investors seeing the 58% loss year-to-date and 30% downfall in just 1 month, as an opportunity to buy. For many DeFi apps the volatility means reducing exposure to protect their ecosystem. On a technical picture Bitcoin still trades in the range we highlighted last Friday with a descending triangle that could soon see a swift move in either direction. Support level still holds at USD19'500. With the intense selling pressure recently, chances of a rebound are increasing.