{"id":3877,"date":"2021-05-20T11:21:47","date_gmt":"2021-05-20T09:21:47","guid":{"rendered":"https:\/\/walloftraders.com\/blog\/?p=3877"},"modified":"2022-02-14T16:44:26","modified_gmt":"2022-02-14T14:44:26","slug":"bitcoin-breaks-the-support-level","status":"publish","type":"post","link":"https:\/\/walloftraders.com\/blog\/en\/bitcoin-breaks-the-support-level\/","title":{"rendered":"Bitcoin breaks the support level"},"content":{"rendered":"\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_75 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/walloftraders.com\/blog\/en\/bitcoin-breaks-the-support-level\/#Why_bears_still_looking_hungry\" >Why bears still looking hungry<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/walloftraders.com\/blog\/en\/bitcoin-breaks-the-support-level\/#Events\" >Events<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/walloftraders.com\/blog\/en\/bitcoin-breaks-the-support-level\/#Dip_for_Deep\" >Dip for Deep.<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\" id=\"why-bears-still-looking-hungry\"><span class=\"ez-toc-section\" id=\"Why_bears_still_looking_hungry\"><\/span>Why bears still looking hungry<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Bitcoin has been red and is still dipping. The prices have gone from highs of $64,000 to an incredible price of less than $40k on Wednesday 19<sup>th<\/sup> 2021. Bulls couldn\u2019t hold the prices at $40,000 and $40,500. <strong>These technical indicators would have been the reason for a break out on the prices<\/strong>. Not defying those means the bulls cannot hold the price. Therefore, bears may still be tough on Bitcoin.<\/p>\n\n\n\n<p>Investors who went ahead to buy the dip are nursing losses. The prices are not moving towards a win. But emotion traders are the ones who are confused about where to go.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"events\"><span class=\"ez-toc-section\" id=\"Events\"><\/span>Events<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p><strong>Bitcoin is not just facing fundamental news wreck, but also the position of traders<\/strong>. Elon Musk came in on both sides. One when he announced that Tesla is stopping accepting Bitcoin as means of payment for Tesla. Bitcoin was also hit hard when Elon Musk moved to Dogecoin sighting the climate effects that come with Bitcoin mining.<\/p>\n\n\n\n<p>Tesla has not sold its holdings yet but, at the current price<strong>, Tesla has lost 100% of its profit accumulated in Bitcoin.<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img fetchpriority=\"high\" decoding=\"async\" width=\"450\" height=\"300\" src=\"https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2021\/05\/jetcityimage160700037.jpg\" alt=\"\" class=\"wp-image-3879\" srcset=\"https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2021\/05\/jetcityimage160700037.jpg 450w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2021\/05\/jetcityimage160700037-300x200.jpg 300w\" sizes=\"(max-width: 450px) 100vw, 450px\" \/><\/figure>\n\n\n\n<p>It is worth noting, the prices are just doing what they usually do. It is not from the tweets and cease from Tesla that has brought these downtrends but it is a larger trend.<\/p>\n\n\n\n<p>Altcoins are taking over? No. The crypto market is on a downtrend. <strong>Nevertheless, altcoins are making more in fees compared to Bitcoin. Ethereum is leading while Bitcoin was recently in the third position after UniSwap.<\/strong><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"dip-for-deep\"><span class=\"ez-toc-section\" id=\"Dip_for_Deep\"><\/span>Dip for Deep.<span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"450\" height=\"301\" src=\"https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2021\/05\/melekkalyoncu160900005.jpg\" alt=\"\" class=\"wp-image-3880\" srcset=\"https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2021\/05\/melekkalyoncu160900005.jpg 450w, https:\/\/walloftraders.com\/blog\/wp-content\/uploads\/2021\/05\/melekkalyoncu160900005-300x201.jpg 300w\" sizes=\"(max-width: 450px) 100vw, 450px\" \/><\/figure>\n\n\n\n<p><strong>The Bitcoin and altcoins dip is trending<\/strong> on Twitter. The hashtag #buythedip is trending. Crypto enthusiasts and traders urging people to buy. People are not scared of the dip now and feel it is the perfect time to go in and wait for a rally.<\/p>\n\n\n\n<p>But is it emotions that are moving people to buy the dip? Certainly not. Fundamentals have proved not to be a major cause of price movement and this is what is bringing hope. @BitcoinMagazine posting how Bitcoin trends have looked over the past years. <strong>Tom Brady is also amongst the people who bought the dip<\/strong>. The prices are just doing what crypto does, and with the rate of buyers, it&#8217;s time to get ready for the bulls.<\/p>\n\n\n\n<div class=\"swp_social_panel swp_horizontal_panel swp_flat_fresh  swp_default_full_color swp_individual_full_color swp_other_full_color scale-100  scale-\" data-min-width=\"1100\" data-float-color=\"#ffffff\" data-float=\"none\" data-float-mobile=\"none\" data-transition=\"slide\" data-post-id=\"3877\" ><div class=\"nc_tweetContainer swp_share_button swp_twitter\" data-network=\"twitter\"><a class=\"nc_tweet swp_share_link\" rel=\"nofollow noreferrer noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/intent\/tweet?text=Bitcoin+breaks+the+support+level&url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fbitcoin-breaks-the-support-level%2F&via=WallOfTraders\" data-link=\"https:\/\/twitter.com\/intent\/tweet?text=Bitcoin+breaks+the+support+level&url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fbitcoin-breaks-the-support-level%2F&via=WallOfTraders\"><span class=\"swp_count swp_hide\"><span class=\"iconFiller\"><span class=\"spaceManWilly\"><i class=\"sw swp_twitter_icon\"><\/i><span class=\"swp_share\">Tweet<\/span><\/span><\/span><\/span><\/a><\/div><div class=\"nc_tweetContainer swp_share_button swp_facebook\" data-network=\"facebook\"><a class=\"nc_tweet swp_share_link\" rel=\"nofollow noreferrer noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/share.php?u=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fbitcoin-breaks-the-support-level%2F\" data-link=\"https:\/\/www.facebook.com\/share.php?u=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fbitcoin-breaks-the-support-level%2F\"><span class=\"swp_count swp_hide\"><span class=\"iconFiller\"><span class=\"spaceManWilly\"><i class=\"sw swp_facebook_icon\"><\/i><span class=\"swp_share\">Share<\/span><\/span><\/span><\/span><\/a><\/div><div class=\"nc_tweetContainer swp_share_button swp_linkedin\" data-network=\"linkedin\"><a class=\"nc_tweet swp_share_link\" rel=\"nofollow noreferrer noopener\" target=\"_blank\" href=\"https:\/\/www.linkedin.com\/cws\/share?url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fbitcoin-breaks-the-support-level%2F\" data-link=\"https:\/\/www.linkedin.com\/cws\/share?url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fbitcoin-breaks-the-support-level%2F\"><span class=\"swp_count swp_hide\"><span class=\"iconFiller\"><span class=\"spaceManWilly\"><i class=\"sw swp_linkedin_icon\"><\/i><span class=\"swp_share\">Share<\/span><\/span><\/span><\/span><\/a><\/div><div class=\"nc_tweetContainer swp_share_button swp_pinterest\" data-network=\"pinterest\"><a rel=\"nofollow noreferrer noopener\" class=\"nc_tweet swp_share_link noPop\" href=\"https:\/\/pinterest.com\/pin\/create\/button\/?url=https%3A%2F%2Fwalloftraders.com%2Fblog%2Fen%2Fbitcoin-breaks-the-support-level%2F\" onClick=\"event.preventDefault(); \r\n\t\t\t\t\t\t\tvar e=document.createElement('script');\r\n\t\t\t\t\t\t\te.setAttribute('type','text\/javascript');\r\n\t\t\t\t\t\t\te.setAttribute('charset','UTF-8');\r\n\t\t\t\t\t\t\te.setAttribute('src','\/\/assets.pinterest.com\/js\/pinmarklet.js?r='+Math.random()*99999999);\r\n\t\t\t\t\t\t\tdocument.body.appendChild(e);\r\n\t\t\t\t\t\t\" ><span class=\"swp_count swp_hide\"><span class=\"iconFiller\"><span class=\"spaceManWilly\"><i class=\"sw swp_pinterest_icon\"><\/i><span class=\"swp_share\">Pin<\/span><\/span><\/span><\/span><\/a><\/div><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Why bears still looking hungry Bitcoin has been red and is still dipping. The prices have gone from highs of $64,000 to an incredible price of less than $40k on Wednesday 19th 2021. Bulls couldn\u2019t hold the prices at $40,000 and $40,500. These technical indicators would have been the reason for a break out &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Bitcoin breaks the support level\" class=\"read-more button\" href=\"https:\/\/walloftraders.com\/blog\/en\/bitcoin-breaks-the-support-level\/#more-3877\" aria-label=\"More on Bitcoin breaks the support level\">Read more<\/a><\/p>\n","protected":false},"author":6,"featured_media":3883,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[194],"tags":[],"class_list":["post-3877","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","masonry-post","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.4 - 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