{"id":2349,"date":"2022-08-09T06:59:10","date_gmt":"2022-08-09T05:59:10","guid":{"rendered":"https:\/\/tradersofcrypto.com\/news\/?p=2349"},"modified":"2022-08-09T06:59:10","modified_gmt":"2022-08-09T05:59:10","slug":"bitcoin-btc-breaks-above-24000-on-low-volume-pump","status":"publish","type":"post","link":"https:\/\/tradersofcrypto.com\/news\/bitcoin-btc-breaks-above-24000-on-low-volume-pump\/","title":{"rendered":"Bitcoin (BTC) Breaks Above $24,000 on Low Volume Pump"},"content":{"rendered":"\n

Bitcoin (BTC) had a limited breakout in the new trading week, breaking above $24,100 for a few hours. Afterward, BTC slid again in the $23,000 range<\/a>. Trading volumes turned more active at $26B in the past 24 hours.\u00a0<\/p>\n\n\n\n

BTC remains poised for attacking another price range, though for the past two months it has tightened both the dips and the rallies. For now, BTC limits its breakouts to about $1,000 in 24 hours, still in the bear market territory.<\/p>\n\n\n\n

The more time BTC spends at the low range, the more the hope for a fast recovery evaporates. For now, BTC managed to achieve a local bottom of around $17,700, though there are still predictions for levels of $10,000 by the end of the year if another capitulation event happens. In the short term, BTC seems to be able to bounce from the downside, again making a series of higher lows.<\/p>\n\n\n\n

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$BTC<\/a> went straight down from 48k to 17.6k without any decent bounce and in two months there is still no sign of the bulls

There is no way the bottom is in. We will go lower imo<\/p>— cevo (@cryptocevo) August 7, 2022<\/a><\/blockquote>