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Bitcoin price started a fresh decline after it failed to stay above $40,000 against the US Dollar. BTC is moving lower and it could even decline towards $35,000 in the near term.

  • Bitcoin started a fresh decline from well above the $40,000 pivot level.
  • The price is now trading well below $39,000 and the 100 hourly simple moving average.
  • There is a major bearish trend line forming with resistance near $38,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair is likely to continue lower if it fails to stay above the $37,200 support zone.

Bitcoin Price Extends Decline

Bitcoin failed to stay above the key $40,000 support zone and started a fres ... Read more »

Category: Analytics | Views: 334 | Added by: danyagames2007 | Date: 18.06.2021 | Comments (0)

Bitcoin is up by an impressive 18% since yesterday’s low at $31,100.

It fell beneath the $36,750 (.786 Fib) support yesterday and ended up closing the candle at $34,760 (downside 1.414 Fib Extension) after dipping as low as $31,100 in the session. The session turned to be one of the worst days bitcoin had seen dollarwise.

Today, following the huge rebound, BTC is attempting to recover and break back above the $36,750 – $37K level, once again.

This pattern could justify a short-term reversal as bitcoin might form a “W” formation with a double bottom around the $30-$31K area – one retest was on Wednesday’s crash, whereas the other one from yesterday.

Additionally, on the short-term chart, bitcoin is currently trading at the upper boundary of a descending price channel that we have been tracking since May 10th. A breakout above this level would be the first signal that BTC is ready to continue its recovery towards the ... Read more »

Category: Analytics | Views: 215 | Added by: rozhkovagency | Date: 24.05.2021 | Comments (0)

The price of Bitcoin dips below $40k, triggering bearish sentiment. BTC is now down 40% from its highs, making this in line with the worst drops of 2017. Currently, Bitcoin is holding the 200-day moving average, having wicked below it briefly during the early hours.

William Clemente III noted that Bitcoin inflows into Binance have never been higher, at around 27k units. This would suggest sellers are keen to liquidate their holdings, adding to the bear case and denting the narrative around ... Read more »

Category: Analytics | Views: 331 | Added by: rozhkovagency | Date: 19.05.2021 | Comments (1)

On Wednesday, cryptocurrency markets continue to drop lower in value, as the entire crypto-economy has plunged 17% below the $2 trillion mark and now rests at $1.801 trillion. Bitcoin, the leading cryptocurrency in terms of market capitalization, touched a high of $40,770 per unit at 4:48 a.m. (ET). A few hours after hitting that price range, the crypto asset tapped a low of $36,250 dropping over 11%.

Cryptocurrency Markets Shed Billions, Crypto Economy Plunges Below $2 Trillion

Bitcoin (BTC) has lost considerable value during the last few days, alongside a great number of other digital assets that have seen price drops as well. The entire crypto-economy has slid ov ... Read more »

Category: Analytics | Views: 153 | Added by: danyagames2007 | Date: 19.05.2021 | Comments (0)

Despite the drop, BTC is approaching a confluence of support levels that are expected to initiate a sizeable bounce.

BTC has been moving downwards, since April 14. The decrease accelerated on April 18, taking the price down to the support line of an ascending parallel channel. 

After a weak bounce, BTC broke down from the channel, yesterday. Afterwards, it fell below the 0.618 retracement support at $51,368, an area which could now act as resistance.

Technical indicators in the daily time-frame are bearish. The Stochastic Oscillator has made a bearish cross while the RSI has dropped below 50. Furthermore, the MACD is negative. 

The next support is found at $47,680, created by the 0.786 Fib retraceme ... Read more »

Category: Analytics | Views: 244 | Added by: danyagames2007 | Date: 23.04.2021 | Comments (0)

Biden's capital gains tax story is the key headline doing the rounds but in the crypto space, there's a lot of rumours floating about Yellen proposing a 80% capital gains tax on cryptocurrencies in particular.

On the latter, it's quite hard to believe that Yellen would be taking the lead in terms of proposing such policies, so believe what you want with the rumours.

There are no firm reports (besides Twitter talk) on that, for what it's worth.

In any case, Bitcoin is facing pressure under $50,000 currently as price breaks towards its 100-day moving average (red line) for the first time since October last year.

Of note, the drop also snaps the uptrend momentum in which buyers have kept since th ... Read more »

Category: Analytics | Views: 206 | Added by: danyagames2007 | Date: 23.04.2021 | Comments (0)

The price of bitcoin has crossed a new all-time high (ATH) on Tuesday, as the leading crypto asset has jumped to $63,275 per unit during the early morning trading sessions (EST). At the time of publication, the entire market economy with over 9,203 cryptos is valued at $2.153 trillion with $164 billion in global trade volume.

Bitcoin Price Touches New Highs

Bitcoin (BTC) has finally crossed the psychological resistance at the $60k mark and even brushed past the last all-time price high. At around 5 a.m. (EST), bitcoin’s price jumped to a new ATH reaching $63,275 per BTC. At the time of writing, BTC is just under the $63k handle and has a market valuation of around $1.177 trillion today. That’s ... Read more »

Category: Analytics | Views: 315 | Added by: 4zvezda | Date: 13.04.2021 | Comments (0)

BCH/USD shifts its focus to $680 after clearing resistance at $650. Yesterday, the market was extremely down towards the 9-day and 21-day moving averages. At the time of writing, Bitcoin Cash is creating a new bullish trend and trading at $666.00 within the channel.

What to Expect from Bitcoin Cash (BCH)
BCH/USD remains above the moving averages, trading towards the upper boundary of the channel. Peradventure the market drives below the moving averages, the BCH price may likely slump to the initial support at $600, which may later bring the price to its critical supports at $550, $500, and $450. But presently, the signal line of RSI (14) moves above the 60-level and this could increase the buying pressure as the price may cros ... Read more »

Category: Analytics | Views: 301 | Added by: danyagames2007 | Date: 11.04.2021 | Comments (0)

(Kitco News) - Bitcoin-U.S. dollar prices are steady-firm in early U.S. trading Friday. Trading has turned sideways this week. The bulls are not in trouble yet. They are still keeping alive a price uptrend in place on the daily bar chart and still have the firm overall near-term technical advantage. Stay tuned!

Sourse: kitco.com

... Read more »

Category: Analytics | Views: 227 | Added by: danyagames2007 | Date: 09.04.2021 | Comments (0)

Despite the best efforts by bulls for what has been several weeks now, Bitcoin price can’t seem to get back above $60,000 and spend any meaningful time above it.

Fundamentals are as bullish as it gets for the top cryptocurrency, but bearish technicals might have finally caused sellers to step in. That’s according to one crypto company CEO, who has warned of sell side intensity increasing substantially in the last several hours. It’s caused them to be increasingly convinced that a cycle top is potentially in. Here’s a deeper look at why.

Bitcoin Bull Run On The Ropes As Technicals Face Off Against Fundamentals

Bitcoin price has had its best year on record yet dollar for dollars and fundamenta ... Read more »

Category: Analytics | Views: 290 | Added by: andryvrozhkov | Date: 09.04.2021 | Comments (0)