BTC Holds Above $23,000 Mark

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Bitcoin Is Ranged As It Stays Above The $23,000 Mark – Feb 26, 2023

BTC/USD is falling and is approaching the downtrend zone as it remains above the $23,000 mark. The Bitcoin asset has dipped below the 21-day SMA line as it trades between the moving average lines. The Bitcoin price will eventually be forced to range between the moving average lines. When the moving average lines are broken, the largest cryptocurrency will start to trend.

Bitcoin Price Stats Data:
•Bitcoin price now – $23,183.34
• Bitcoin Market Cap: $447,493,756,978
•Bitcoin circulating supply – 19,302,193 BTC
•Total Bitcoin supply – $486,836,549,444
• Bitcoin Coinmarketcap Ranking – #1

Resistance levels: $50,000, $55,000, $60,000
Support levels: $25,000, $20,000, $15,000

Bitcoin has fallen to a low of $22,873 after being rejected at a high of $25,227. Selling pressure remains as Bitcoin price turns lower and approaches the 50-day SMA. If the BTC price falls, they will first find support above the previous low of $21,600. The market will try to go higher if the existing support holds. A break above the 21-day SMA would signal a return to positive trend for Bitcoin. However, if the current support is broken, the selling pressure will continue. Also, if the Bitcoin price breaks above the 50-day simple moving average, the decline may resume. Bitcoin will reach the psychological price barrier of $20,000. The Bitcoin price has reached its equilibrium level due to a balance between supply and demand. In other words, the price of Bitcoin is at level 49 on the 14-period Relative Strength Index.

Bitcoin node connection ends when Bluewallet clients withdraw funds

BlueWallet seeks to improve self-custody options and further decentralization by breaking ties with LndHub. According to a formal statement, BlueWallet is shutting down its lightning node connection to Lndhub. Custodial Lightning activities on the Bitcoin (BTC) Lightning Network will be stopped, therefore BlueWallet customers will no longer be able to access those services without connecting to the nodes. “The most important thing is that no one panics and all of a sudden newbies change their on-chain currency or have wrong lightning balances,” one lightning engineer tweeted. Built on top of Bitcoin, the Lightning Network is a layer 2 payment system. Smaller amounts of Bitcoin, known as satoshis or sats, are often sent over the Lightning Network using a lightning wallet. Users can still withdraw Sat, but they will not be able to open new lightning wallets or top up current ones on the LndHub node. Those who have satellites connected to BlueWallet’s Lightning Node have been publicly advised to transfer their satellites as soon as possible.

BTC/USD – 4 hour chart

Bitcoin (BTC) price is falling as it remains above the $23,000 mark. The Bitcoin price fluctuated in a range between $23,500 and $25,000 during the previous price action. The buyers are currently driving Bitcoin to retake the $23,500 support. If Bitcoin breaks the $23,500 resistance, the uptrend will return. On the other hand, if it turns down at the most recent high, the selling pressure may intensify.

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