Markbit

What is easier for you to identify in the cryptocurrency market?

Is it an uptrend or a downtrend?

(For me, it's always a downtrend)

Pure scan

but DREX will be released soon, lol, to control it

can you drop more please

time to open more shorts

As of August 10, 2024, Bitcoin is holding its ground in the $60,000 range due to a combination of macroeconomic, regulatory, and technical factors:

1. **Technical Support and Price Action**: The $60,000 level has established itself as a crucial technical support for Bitcoin. This support is reinforced by the 200-day moving average, which is currently slightly below $58,000. Analysts point out that as long as Bitcoin holds above this support, it should be able to avoid a sharp decline that could take it to the next support level around $51,500.

2. **Regulation in Russia**: An additional factor that has contributed to Bitcoin’s recent stability is the legislation passed in Russia that legalizes and regulates cryptocurrency mining in the country. This legislation is seen as a strategic move to further integrate Bitcoin into the Russian economy, which has generated cautious optimism among investors and miners.

3. **Market Sentiment and Consolidation After the Rally**: The market is in a consolidation phase after a significant rally, with investors awaiting future developments. This stability reflects a balance between optimism about future upside potential and caution in the face of global macroeconomic uncertainties.

These factors combined explain why Bitcoin is holding steady in the $60,000 range, with the market showing remarkable resilience despite pressures and uncertainties.

And your #brazucacoin disappeared in 🤔