Bitcoin price failed to continue above the $9,500 resistance and declined recently against the US Dollar. BTC could either bounce back from $9,150 or it might decline heavily.Bitcoin bulls are fighting hard to protect the key $9,200 and $9,150 support levels against the US Dollar.The price remains at a risk of a sharp decline if…
Last night, following a bullish weekly close and an even more bullish monthly candle close just days prior, the recent rally in Bitcoin price may have finally topped out.According to the Wyckoff method, the recent price action closely matches an aggressive redistribution model that suggests a severe mark down phase could follow.Bitcoin Price Action Mimics…
Over the past few days, Bitcoin has found itself stalling in the low-$9,000s, failing to venture out of a tight range it has been stuck in for the past four days. The below chart from TradingView shows this non-action perfectly.Although some say that this flatlining price action is a precursor to Bitcoin return into the…
Bitcoin faced a flash rally yesterday evening that led the crypto to break above $9,600 before almost instantly incurring a significant amount of selling pressure that led BTC to plummet into the $9,300 region.Bull’s inability to decisively close the cryptocurrency above its key resistance at $9,500 points to the possibility that bulls are losing their…
Bitcoin’s dreamy price rally in 2020 could hit a dead end in the coming sessions, according to a bullish reversal indicator.The benchmark cryptocurrency is forming a Rising Wedge pattern as confirmed by its price consolidating between upward sloping resistance and support. More data that confirms the Wedge formation is a faster establishment of lower highs…
Hedge funds containing bitcoin as a primary asset were more profitable in 2019 than those that didn’t feature the cryptocurrency, according to the latest survey by Eurekahedge.The hedge fund database found that dedicated cryptocurrency funds returned more than 16 percent profits to its investors last year. In comparison, traditional hedging strategies generated a dwarfed 10.4 percent…
Bitcoin price jumped above the $9,550 resistance to invalidate a key head and shoulders pattern against the US Dollar. It seems like BTC is primed for a massive rally above $10,000.Bitcoin bears failed to push the price below the main $9,150 support against the US Dollar.The bulls gained control, resulting in a fresh increase above…
Over the past few days, Bitcoin has found itself stalling in the low-$9,000s, seemingly trying to establish a level of support at around $9,200-$9,300. Right now, it seems to be working, with BTC rallying after the price heads into that range.This consolidation, analysts suggest, is likely a precursor to even more gains in the coming…
Bitcoin (BTC) is currently in the process of revisiting its recently established 2020 highs of $9,550, with its ongoing upsurge coming close on the heels of yesterday evening’s selloff that led the crypto to dip as low as $9,200.Bull’s ability to post a strong defense of this level suggests that the cryptocurrency could be on…
Bitcoin traded to a new 2020 high at $9,575 and recently corrected lower against the US Dollar. It seems like a head and shoulder pattern is forming, which could drag BTC towards $8,800.After a steady rise, bitcoin price struggled to gain momentum above $9,500 against the US Dollar.The price is currently declining and it could…