{"id":51449,"date":"2022-08-19T12:32:45","date_gmt":"2022-08-19T10:32:45","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=51449"},"modified":"2022-08-19T12:32:45","modified_gmt":"2022-08-19T10:32:45","slug":"bitcoin-flash-crashing-dropping-6-as-btc-slides-below-22-5k","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/bitcoin-flash-crashing-dropping-6-as-btc-slides-below-22-5k\/","title":{"rendered":"Bitcoin Flash Crashing, Dropping 6% as BTC Slides Below $22.5k"},"content":{"rendered":"

Bitcoin<\/a> prices are down six percent in the last 24 hours<\/strong>, flash crashing earlier today. When writing, BTC is down 13 percent from August highs printed at around $25.3k.<\/p>\n

<\/p>\n

As prices contract, the coin is trading below a critical support trend line<\/strong> and slipping beyond the rising channel and $22.5k, previous support now resistance.<\/p>\n

Because prices are now trading below the primary support at $22.5k<\/strong> and today\u2019s bar is with high participation level, it could be an indicator that BTC could drop some more in the days ahead in a bear trend continuation formation.<\/p>\n

The U.S. FED’s Crypto Guidelines for Banks<\/h2>\n

The market-wide contraction is at the back of positive developments that the U.S. Federal Reserve (FED)<\/strong> is initiating.<\/p>\n

In a recent statement<\/a>, the central bank issued guidance for banks engaging with crypto assets. They acknowledged that cryptocurrencies present opportunities for banks, clients, and the financial system.<\/strong><\/p>\n

However, albeit their advantages, there must be sufficient measures to protect consumers and proper steps for financial stability.<\/p>\n

Subsequently, regulated banks<\/strong> seeking exposure to crypto assets<\/strong> must always take precautionary steps, ensuring their actions are legal.<\/p>\n

Required measures include putting in place proper risk management systems and control<\/strong>. By notifying the central bank of their intention, they will, given the FED’s mandate, act per its regulatory powers and determine the appropriate action.<\/p>\n

Bitcoin Price Analysis<\/h2>\n

\"Bitcoin<\/p>\n

When writing, BTC prices are down six percent in a bear breakout formation<\/strong> below the rising channel.<\/p>\n

As it is, bears are squarely in charge and today\u2019s bear bar is wide-ranging<\/strong>, an indicator of strong selling momentum<\/strong>. Additionally, it has high levels of participation, and indicator of strong conviction amongst traders.<\/p>\n

Technically, aggressive traders may find opportunities to unload on every attempt higher towards in lower time frames. In a breakout formation below the rising channel<\/strong> defined from late June to early August 2022, their first target will be the primary support at $19k.<\/strong><\/p>\n

The odds of BTC further crumbling are elevated because of the failure of optimistic bulls to break above $25.3k<\/strong> earlier this week in confirmation of the July 27 bull bar. Therefore, if bulls fail to plug the drain going forward, BTC may break below $19k<\/strong>, in a bear continuation formation set<\/strong> in motion in early June 2022.<\/p>\n

Technical charts courtesy of\u00a0<\/em><\/strong>Trading View.<\/em><\/strong><\/a><\/p>\n

Disclaimer:\u00a0<\/strong>Opinions expressed are not investment advice. Do your research<\/em>.<\/p>\n

\n

If you found this article interesting, here you can find more\u00a0\u00a0Bitcoin news.<\/a><\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin prices are down six percent in the last 24 hours, flash crashing earlier today. When writing, BTC is down 13 percent from August highs printed at around $25.3k.<\/p>\n","protected":false},"author":11,"featured_media":51026,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[74,87],"tags":[4602,4910,4656,4930],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/51449"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=51449"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/51449\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/51026"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=51449"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=51449"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=51449"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}