After settling below $9,000, bitcoin declined steadily against the US Dollar. The price is under a lot of pressure below the $8,700 and $8,650 resistance levels. There is a crucial bearish trend line forming with resistance near $8,630 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The price could correct higher,…
Late last month, Bitcoin (BTC) caught traders across the industry with their pants down: in a day’s time, the leading cryptocurrency had pumped by 42%, surging from $7,200 to $10,500 in a jaw-dropping, historical move higher. In fact, that day marked Bitcoin’s fourth-largest daily move… ever, and the largest price jump by percentage since 2011. Related Reading:…
Bitcoin (BTC) hasn’t been doing all too hot over the past five months. Since June, the leading cryptocurrency has cratered by almost 50%, collapsing from a year-to-date high of $14,000 to $8,500, where it sits today. BTC fell as low as $7,300 just three weeks ago. Related Reading: Crypto Tidbits: RBC May Embrace Bitcoin, China…
Another week, another round of Crypto Tidbits. The past seven days were rather painful for Bitcoin (BTC), with the leading cryptocurrency tumbling by some 4% according to Coin360. Altcoins have posted similar losses. As of the time of writing this, BTC is trading for $8,500, seemingly poised to break down further as bulls fail to…
Bitcoin’s recent bout of intense selling pressure has slowed as the crypto finds some support within the lower-$8,000 region, which appears to be holding strong as its price has been able to slowly inch higher in the time since BTC touched its near-term support level. Analysts are now noting that Bitcoin may currently be expressing…
The launch of a U.S.-regulated Bitcoin exchange-traded fund (ETF) has long been the dream of cryptocurrency investors — they believe that such a vehicle would catalyze mass inflows, kicking off BTC’s largest bull run yet. Though, the past few years haven’t been too kind to cryptocurrency ETF hopefuls. Just last month, the U.S. Securities and…
While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals. Related Reading: Blockchain and Crypto: Binance CEO Has High Hopes for the Future A brief aside: A fractal, in the context of technical…
At the start of the year, it was clear that Bitcoin was in an accumulation phase, where “smart money” buys up an asset in anticipation of a sizable increase in value during the following markup phase. According to the Wyckoff method, after the price of an asset is sufficiently marked up, comes the distribution phase…
Changpeng “CZ” Zhao, blockchain expert and CEO of leading cryptocurrency exchange Binance, is more than optimistic about the future of blockchain and digital currency, saying the industry will only get bigger over the next few years. In an interview with Bloomberg published this week, he takes on the future of blockchain-based technologies, discusses the recent…
Bitcoin’s bears roared last night after the cryptocurrency plunged below its key near-term support level at $8,700, although this BTC dip was met with decent buying pressure that allowed it to once again reclaim this support level. BTC’s recent price action can be defined as being somewhat bearish, however, as its bulls have been unable…