Bitcoin traders turn to $93K yearly open as BTC price hits 6-week high

Q: How long will it take to read this news story?

The story "Bitcoin traders turn to $93K yearly open as BTC price hits 6-week high" has 470 words across 20 sentences, which will take approximately 2 - 4 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "Bitcoin traders turn to $93K yearly open as BTC price hits 6-week high" was covered 2 days ago by Coin Telegraph, a news publisher based in United States.

Q: How trustworthy is 'Coin Telegraph' news outlet?

Coin Telegraph is a fully independent (privately-owned) news outlet established in 2013 that covers mostly crypto news. The outlet is headquartered in United States and publishes an average of 31 news stories per day. It's most recent story was published 8 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #28153302</li><li>URL: https://vaccinium.beamstart.com/news/bitcoin-traders-turn-to-93k-17453358702307</li></ul>

Coin Telegraph 2d ago

Bitcoin traders turn to $93K yearly open as BTC price hits 6-week high - Coin Telegraph

Quick Summary:

Source: Cointelegraph/TradingViewFor traders, the 200-day simple moving average (SMA) at $88,370 thus became the level to flip back to support on daily timeframes.“Closing in on the big $90K-$91K horizontal area which acted as the previous range low,” popular trader Daan Crypto Trades wrote in part of ongoing analysis on X. An accompanying chart showed the need to crack the area around $93,000 — Bitcoin’s yearly open — to confirm the moving average reclaim. BTC/USDT perpetual contract 1-day chart.

That kind of divergence doesn’t usually last,” it summarized on the day. “Historically, when the NASDAQ’s 200-day moving average trend is down, Bitcoin runs into macro headwinds.”BTC/USD vs.Nasdaq 100 chart.

Source: Daan Crypto Trades/XContinuing, Keith Alan, co-founder of trading resource Material Indicators, had similar views.“If history has taught us anything, it's important to watch for fake outs and confirmations,” he noted. “IMO, confirmation of the trend reversal will come when BTC reclaims the Yearly Open.