Bitcoin’s lackluster trading over the past ten weeks is showing no signs of concluding anytime soon.Although the cryptocurrency has been able to see some volatility within its long-held trading range, it has not been able to develop any clear directionality throughout the past couple of months.The price action seen between $9,000 and $10,000 as of…
As repeated time and time again by analysts, Bitcoin is currently in no man’s land. The cryptocurrency remains above the $8,500 support while below the resistance region at $10,000-10,500.Price has responded in kind, flatlining in the low-$9,000s as neither bulls and bears have managed to establish a trend. Yet a volatility analysis predicts that a…
In traditional markets, weekends pause for a moment of peace. Not Bitcoin and the rest of crypto, however.Weekends are often when the most alarming moves occur, due to relatively low liquidity and trading volume. That’s why it shouldn’t be a surprise that Bitcoin pulled a “Darth Maul” this morning and stopped out traders on both…
It seems that many crypto traders are preparing for an imminent pullback in the price of Bitcoin.The cryptocurrency once again sustained a rejection at $9,500, which quickly deflated the expectations of a bullish breakout.One crypto technician shared the image below on July 9th, showing that there was recently an influx of short positions opening. The…
Bitcoin is trading nicely above the $9,100 and $9,200 support levels against the US Dollar. BTC is forming a crucial breakout pattern and it must break $9,400 for a sustained upward move.Bitcoin is trading above the key $9,120 support level and the 100 simple moving average (4-hours).The price is facing a strong resistance near the…
Bitcoin’s consolidation phase seen throughout all of May and June is showing few signs of letting up anytime soon and has caused the cryptocurrency’s volatility levels to hit multi-year lows.Although there aren’t many overt technical catalysts for volatility in the near-term, there may be a few events that could help to shake up BTC’s consolidation phase.These…
Bitcoin has entered yet another consolidation phase, this time hovering around $9,200 as it reestablishes its position within its previously held range between $9,000 and $9,300.The cryptocurrency’s recent price action has done little to offer any significant insight into its macro outlook, as it still remains caught within its long-held range between $9,000 and $10,000.Until…
In the span of just over a decade, Bitcoin has gone from a puny asset to one worth over $170 billion. It’s a rally that has caught many off guard, evidenced by those that have long asserted the cryptocurrency is a Ponzi scheme or otherwise.Data shows, however, that BTC remains just a drop in the…
Bitcoin was once branded as an asset that was uncorrelated from the rest of the financial markets.Look no further than a survey of institutional investors by Fidelity Investments. It found that a good portion of this group want to buy cryptocurrencies because they are a valuable portfolio diversifier that is uncorrelated.Yet this has seemingly changed…
After attempting to rally through $9,500 this week, Bitcoin failed to sustain its bullish momentum yet again. As of this article’s writing, the leading cryptocurrency trades for $9,200, having sustained somewhat of a pullback.The retracement notably wasn’t caused by Bitcoin: a drop in the S&P 500 on Wednesday forced the crypto market leader.Technical analysts, regardless,…