BTC Price Bounce Backs Above $26,000, Sell the Rise?
However, this price jump could turn into a sell-the-rise opportunity as suggested by the surge in the exchange deposits. On-chain data provider Santiment reported that the exchange supply for Bitcoin has reached a two-week high. Reportedly, over 5,000 Bitcoins worth a staggering $128.5 million have been sent to the exchanges over the last 24 hours. advertisement Bitcoin has seen a modest 2% price increase, reaching $26.3K once again after a week. It’s important to monitor the supply of BTC on exchanges, which has grown by 3.1% in the past two weeks. Traders seem to be driven by the desire to secure modest profits, added Santiment. Courtesy: Santiment However, after the recent bounceback, $26,000 remains a key level to watch for investors. So far, the BTC price has been forming a double-top pattern indicating further pain ahead. However, if the BTC price manages to hold above the $26,000 mark, the double-top theory shall remain invalidated. If #BTC holds ~$...