Bitcoin has once again failed to break back into the $8,000 region, signaling that this price level will remain a level of resistance for the foreseeable future. Importantly, BTC has still been able to hold above $7,600, which appears to have become a strong level of support for the cryptocurrency. Related Reading: Analysts are Still…
Just when traders and analysts were expecting the drop to accelerate following the formation of a head and shoulders pattern, and Bitcoin’s biggest weekly red candle since November, it did the opposite. The volatile and often fickle nature of crypto markets is still very hard to predict which has left many scratching their heads as…
Bitcoin price started a fresh upward move after trading as low as $7,519 against the US Dollar. The price gained pace above the $7,700 resistance and even traded above $7,800. Yesterday’s highlighted key bearish trend line was breached with resistance near $7,780 on the hourly chart of the BTC/USD pair (data feed from Kraken). The…
The week has started in the red for the majority of crypto assets. Bitcoin closed the week with its largest red candle since December 2018 and analysts are predicting further losses ahead as the correction continues. From an intraday high of $7,950, Bitcoin has tumbled back below $7,600 as the Asian trading session gets under…
Bitcoin price remained in a bearish zone and recently declined below $7,600 against the US Dollar. The price retested the $7,500 support area and it is currently consolidating losses. There is a key bearish trend line forming with resistance near $7,820 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair…
Bitcoin and the aggregated cryptocurrency markets have faced increasing selling pressure as of late that appears to have put their recently established upwards momentum in jeopardy. Despite this, BTC and other cryptos have yet to incur any massive influxes of selling pressure that lead to the formation of a quick downwards leg. Although the recent…
The recent recovery in bitcoin price faced a strong resistance near the $8,140 level against the US Dollar. The price is currently facing a strong resistance and it is likely to struggle near $8,000. There is a major bearish trend line forming with resistance near $7,950 on the 4-hours chart of the BTC/USD pair (data…
Bitcoin (BTC) and the aggregated crypto markets have been facing a bout of sideways trading over the past couple of days, oscillating between the mid-$7,500 region and the lower-$8,000 region for the past several days. Although the sideways price action could simply be a pattern of consolidation that ultimately leads to an extension of upwards…
Bitcoin drop 7.4 percent Reserve Bank of India could get a boost with the latest draft bill proposing more stringent measures against crypto investors and developers. Yesterday’s FUD that India’s legislators are proposing a ban of cryptocurrency mining, trading or holding did expose RBI’s underbelly. Such punitive steps often trigger rebellion in a Streisand effect,…
Bitcoin (BTC) and the entire crypto markets have been facing some levels of instability as the markets experience a bout of sideways trading after losing the upwards momentum that they have incurred over the past several weeks. Although Bitcoin’s recent drop into the $7,000 region appeared to have put its bullish momentum in jeopardy, analysts…