Bitcoin is down more than 5% from the $7,470 swing high against the US Dollar. BTC is now trading near a crucial support at $6,700 and the 100 SMA (H4).Bitcoin started a fresh decline from the $7,470 monthly high and traded below $7,000.There is a crucial support forming above $6,700 and the 100 simple moving…
Following a firm rejection within the lower-$7,000 region, Bitcoin has been able to hold above a dire trading range that it was previously caught within, with the benchmark crypto’s ability to stabilize above this level being a bullish near-term sign.The close above this range also comes as the crypto holds above a key technical level,…
With Bitcoin’s halving arriving next month on May 11, 2020, the expectation across the world of crypto has long been that the valuation of the first-ever cryptocurrency would skyrocket, but last month’s catastrophic selloff has some questioning the theory.However, according to historical data, Bitcoin price is currently on pace with where the crypto asset was…
Following Black Thursday, Bitcoin was on a tear, gaining 50% since that fateful day. BTC was trading at $7.3k, but a rejection at the 50-day moving average, coupled with falling volume, indicated a trend reversal.Bitcoin daily chart with 50-day & 200-day MA and volume. (Source: tradingview.com)Not only that, but the failure to break $7.4k suggested…
After March’s 50% crash, there are many reasons to be bearish on Bitcoin. As seen by the recent decrease in the crypto market’s liquidity and some traders publicly throwing in the towel, the crash forced many to abandon the space.But, according to a prominent macro investor, a trend is transpiring that “could not be more…
For the longest time, Bitcoin has been deemed useless by mainstream economists, investors, and others. LendingTree Chief Economist Tendayi Kapfidze told Yahoo Finance in an interview that he thinks Bitcoin is a “pyramid scheme,” citing his sentiment that you can “only make money [with BTC] based on people who enter after you.”But, a recent transaction…
Bitcoin faced a grim overnight rejection within the lower-$7,000 region that led it to decline all the way to its low-time-frame support at $6,800, with bulls ardently attempting to defend against the crypto dropping beneath this level.Today’s downside movement marks an extension of the bearish momentum that was first incurred during the crypto’s firm rejection…
Bitcoin price was just rejected from above $7,000, after recently bouncing from extreme lows under $4,000.With the first-ever cryptocurrency failing to reclaim highs from even just a couple weeks prior, the asset is at risk of another catastrophic collapse to as low as $1,800, according to one cryptocurrency analyst.After a Record-Breaking Collapse, Is the Cryptocurrency…
In the wake of “Black Thursday,” it seemed clear to some that Bitcoin was dead: hundreds of millions of dollars worth of BitMEX positions were liquidated, the crypto’s market liquidity dried up (accentuated by the 50% drop in a day), and Crypto Twitter briefly became a ghost town.But, as I recently cataloged in a Twitter…
After days of consolidation after rallying 100% from the March bottom, Bitcoin tanked under $7,000 just minutes ago, reaching a local low of $6,920 as of the time of this article’s writing. With this downward move, the cryptocurrency is down 6% from Thursday’s peak and down nearly 8% from the highs at $7,470.Bitcoin’s drop comes…