Bitcoin markets are boasting an improvement in the market’s sentiment after trading volumes started going down through the day. As markets settle to price levels above $2000, traders are apparently feeling more comfortable. We’re now seeing traders push for prices above $2300 with large buy orders continue to push the price up.
- The recent recovery has had bitcoin markets seeming bullish in the eyes of traders through the last few hours.
- As BTC/USD rates are recording a price rise around 5%, markets show more support than how much resistance appears to be coming forth.
- The selling pressure has been overtaken by a more positive market sentiment as trading volumes went down.
OKCoin BTC/USD weekly futures charts are quite telling of how traders are handling the recent turn of events within crypto markets. The spread between futures rates and live bitcoin prices is still large, yet futures rates appear to have been following up on live markets well enough to catch up with the recent positivity.
All in all, the ongoing recovery is certainly a nice chance for bullish traders to shine, yet it doesn’t seem to be having much in terms of underlying support. Whilst resistance in thin at the moment longer term support doesn’t appear to be there just yet, but it’d be something essential for a further recovery.