Bitcoin is entering uncharted waters as it trades against a backdrop of global economic turbulence, and so far it has held up surprisingly well – posting year-to-date gains while the equities market continues trading well below where it started the year.It now appears that the “perfect storm” for Bitcoin could be brewing, as two rapidly…
Cryptocurrency investors were quite disturbed to see Bitcoin trade as a firmly risk-on asset when it closely mirrored the weakness seen by the traditional markets as investors began to understand the depth of the Coronavirus pandemic’s implications.Bitcoin’s weakness reached a boiling point in early-March, when the poor performance seen by the S&P 500 and other…
In early-March, Bitcoin incurred some of the roughest price action it has ever seen, with the benchmark cryptocurrency finding itself caught within a capitulatory decline that led it from over $8,000 to lows of $3,800.This meltdown occurred concurrently with the global equities market seeing a massive selloff as investors began growing aware of just how…
Bitcoin has been caught within a steady uptrend throughout the past month, with the benchmark cryptocurrency’s overtly bullish reaction to its capitulatory drop to lows of $3,800 looking increasingly like a long-term bottom.The bullishness of Bitcoin’s “V-shaped recovery” from these lows has significantly boosted investor sentiment, leading many market participants to forecast imminent upside in…
Bitcoin saw a notable overnight rally that allowed it to move as high as $7,300, with this coming about after an extended period of trading sideways within the lower-$7,000 region for the latter part of this past week.It now appears that bulls are targeting a movement towards $8,000, as resistance could be weakening as bulls…
After another day of sideways trading, Bitcoin has once again been unable to close its daily candle above $7,200, making the cryptocurrency prone to seeing further weakness in the weekend and week ahead.The benchmark cryptocurrency may not be able to make any meaningful trend defining moves in the days ahead either, as one analyst is…
Bitcoin has held up surprisingly well throughout the past day, with buyers maintaining its price above $7,000 despite facing multiple firm rejections around $7,200. This has led some analysts to note that a break above this level could be imminent.This short period of consolidation also comes as a highly bullish fractal pattern emerges, which could…
Bitcoin is showing a few recovery signs above the $6,760 support against the US Dollar. However, BTC price is still trading below a key bearish trend line and $7,000.Bitcoin is currently correcting higher and trading above $6,800 against the US Dollar.The bulls are showing a lot of resilience above $6,600, but the price is still…
Bitcoin is currently in the process of attempting to surmount the heavy resistance that has been established within the upper-$6,000 region, with this ongoing uptrend marking an extension of the momentum that was incurred when BTC rebounded from lows of $6,600.This volatility would naturally lead one to anticipate a rise in activity amongst retail traders,…
Bitcoin is currently correcting higher from the $6,559 swing low against the US Dollar. BTC price is now testing the 100 hourly SMA and it is likely to struggle near $6,960-$7,000.Bitcoin is slowly recovering higher after trading as low as $6,559 against the US Dollar.The bulls were able to push the price above the $6,750…