Bitcoin has been clinging to the key $10,000 BTC price level all weekend as technical factors point to a short-term relief rally

Last weekend was incredibly rough for most cryptocurrency investors as massive sell-offs occurred. The price of Bitcoin (BTC) dipped below $10K several times but seems to have found short-term support at this level. 

The primary question for the markets is whether a relief rally is around the corner or further downside movement is expected. 

Let’s take a look at the charts to determine what might happen next.

... Read more »

Category: Analytics | Views: 13 | Added by: danyagames2007 | Date: 07.09.2020 | Comments (0)

Bitcoin has seen some mixed price action throughout the past several days and weeks, struggling to garner any sustained buying pressure as its price hovers just above its crucial support between $9,900 and $10,000.

The crypto has been trading above these levels throughout the past couple of days, but the selling pressure appears to be ramping up.

One analyst is even noting that the failed breakout that took place today has opened the gates for BTC to see a sharp downswing towards $9,600 – which will likely send shockwaves throughout the market and create a major headwind for mid-sized and small-sized altcoins.

Another trader is noting that in order for this potential near-term weakness to be fully invalidated, Bitc ... Read more »

Views: 29 | Added by: rozhkovagency | Date: 07.09.2020 | Comments (0)

Amid ongoing strength in the U.S. dollar currency index, Bitcoin bears gain strength, sending BTC/USD to its lowest since late July.

Bitcoin (BTC) hit fresh lows on Sep. 7 as renewed selling pressure saw the largest cryptocurrency return to the $9,800 range.

Cryptocurrency market daily snapshot, Sep. 7. Source: Coin360

Analyst eyes BTC price bottom at futures gap

Data from Coin360 and Cointeleg ... Read more »

Category: Analytics | Views: 29 | Added by: danyagames2007 | Date: 07.09.2020 | Comments (0)

The price of Bitcoin dips below $10,000 for three consecutive weeks but on-chain analyst Willy Woo says it’s mid-term bullish.

The price of Bitcoin (BTC) declined below $10,000 for three consecutive days. Despite the weakness in BTC’s short-term trend, an on-chain analyst says mid-term bullishness is intact.

The weekly chart of Bitcoin. Source:

Within five days, the price of Bitcoin slipped from $11,462 to $10,000, recordin ... Read more »

Category: Analytics | Views: 68 | Added by: danyagames2007 | Date: 07.09.2020 | Comments (0)

Over the past few hours, Bitcoin has undergone a strong bounce from its local lows at $9,800, trading at $10,300 as of this article’s writing. This $500 bounce marks a positive trend for an asset that has shed 20% in the span of four days.

Fortunately for bulls, a number of technical analyses indicate that Bitcoin has room to rally. This can be corroborated by the state of BTC futures markets, most of which are printing negative funding rates in a sign that bears are overconfident.

Bitcoin Primed to Bounce to $11,000: Here’s Why

Bitcoin is primed to bounce as signs of a short squeeze have built. One trader shared the chart below on Saturday. Referencing the chart, he suggested that Bitcoin was primed to r ... Read more »

Category: Analytics | Views: 33 | Added by: rozhkovagency | Date: 07.09.2020 | Comments (0)

U.S. dollar strength combines with a decision on monetary policy in Europe as a backdrop to fresh fear among Bitcoin investors.

Bitcoin (BTC) continues to test $10,000 support after a weekend in which it consolidated after a major drop — what next?

Cointelegraph takes a look at the major factors set to influence BTC price action in the coming week. 

Keiser: U.S. currency index needs to drop below 80

The end of last week saw big changes for BTC/USD, with the pair shedding over 15% from $12,050 to bounce at $9,900.

The weekend failed to trigger a significant bounce, with $9,900 seeing several more tests before Bitcoin drifted back into five figures.

What changed on Friday was one macr ... Read more »

Category: News | Views: 40 | Added by: danyagames2007 | Date: 07.09.2020 | Comments (0)

Bitcoin price traded to a new monthly low at $9,853 before correcting higher against the US Dollar. BTC is still following a bearish pattern and it is likely to accelerate lower below $10,000.

Bitcoin is trading in a bearish zone below the $10,800 and $10,500 support levels.
The price is facing a strong resistance near $10,500 and the 100 hourly simple moving average.
There is a major declining channel forming resistance near $10,300 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The pair is likely to resume its decline as long as it is below $10,300 and $10,500.

Bitcoin Price Remains At Risk

In the past few days, there was a stron ... Read more »

Category: Analytics | Views: 34 | Added by: rozhkovagency | Date: 07.09.2020 | Comments (0)

Russia’s new bill brings it in line with U.K. legislators, though there is a distinction between the approach of the FCA and the State Duma.

Not unlike many other jurisdictions around the world, Russia has come to recognize the potential benefits and risks flowing from cryptocurrencies by taking its first step to define and codify digital assets.

The new Russian legislation dubbed “On Digital Financial Assets” sets a clear direction for the treatment of cryptocurrencies by authorities and how both individuals and businesses can handle them in everyday practice.

Nevertheless, the new legislation may give pause to payments companies and fintech companies keen on expanding into the Russian market. While ... Read more »

Category: News | Views: 31 | Added by: danyagames2007 | Date: 07.09.2020 | Comments (0)

The price of Bitcoin has been testing $10,000 support the entire weekend but did the futures gap finally get filled by a chart candle downwick?

The markets are bleeding out. Ether (ETH) dropped from $500 to $300 in a matter of days, people are screaming that the DeFi bubble has burst already, and are crying about their favorite “[insert food name] coin” crashing in value after a one-month-old Twitter account rug pulled 38K ETH from investors.

Yes, it’s just another week in crypto, but did anyone else notice that Tron (TRX) was pumping amidst all this?

Might just be a coincidence, but the last time this happened so quickly the entire crypto market bled out in the long, cold crypto wint ... Read more »

Category: Analytics | Views: 32 | Added by: danyagames2007 | Date: 07.09.2020 | Comments (0)

While the cryptocurrency has declined from $12,400 to $10,000 in the past three weeks, the number of "accumulation addresses" has increased by 2% to 513,000, according to data source Glassnode.

"Lots of new daily buyers are coming in to absorb supply," Su Zhu, CEO of Singapore-based Three Arrows Capital, told CoinDesk in a Telegram chat.

Accumulation addresses are those that have at least two incoming non-dust transfers (representing minuscule amounts of bitcoin) and have never spent funds.

The metric excludes addresses belonging to miners and exchanges, and addresses active more than seven years ago to exclude lost coins.

... Read more »

Category: News | Views: 29 | Added by: danyagames2007 | Date: 07.09.2020 | Comments (0)

The founder of Begin India Think Tank says that bitcoin should be regulated as stock, which he believes is the legal status the cryptocurrency should get in India. He also believes that Bitcoin may be the most secure technology in our lifetimes.

How Bitcoin Should Be Regulated in India

Begin India Think Tank founder Deepak Kapoor has shared his view on how bitcoin and other cryptocurrencies should be regulated in India in an interview published by local business magazine BW Businessworld on Sunday. Begin India Think Tank assists the Indian government and investigative agencies in fighting crimes involving cryptocurrencies.

On the legality of bitcoin, Kapoor stressed &ldquo ... Read more »

Category: News | Views: 30 | Added by: danyagames2007 | Date: 07.09.2020 | Comments (0)

Bitcoin’s Dominance Index has slid 10% from a high of 67% on May 10, to a low of 57% today. Despite the defi market shakeout, ethereum still captures 10% of the aggregate market capitalization of $330 billion.

There’s been a number of changes in the top ten line up of coins, as bitcoin (BTC) has been losing dominance since May 10. Market dominance is the measurement of the top coins, in terms of market valuation, compared to the aggregate of all 6,700+ crypto coins.

BTC has consistently commanded the top dominance level in the cryptocurrency economy and today it’s about 57% of the market value. That’s 10% lower than it was in mid-May, as bitcoin (BTC) has slid consecutively downwards fo ... Read more »

Category: Analytics | Views: 22 | Added by: danyagames2007 | Date: 07.09.2020 | Comments (0)