Bitcoin started a major decline after it was rejected near the $10,000 resistance against the US Dollar. BTC is currently recovering, but it is likely to face sellers near the 100 SMA (H4).Bitcoin traded as low as $9,084 and it is currently correcting higher.The price is likely to face sellers near the $9,600 level and…
Earlier this week, Bitcoin sustained a heavy drop.The cryptocurrency, just 24 hours after attempting a $10,000 break, plunged nearly $1,000 in the span of 12 hours. The move brought the cryptocurrency from around $10,030 to $9,050.Analysts are divided over what technical damage the drop caused.Some say that it is to be expected, calling the drop…
Bitcoin has failed multiple attempts at breaking past $10,500 over recent weeks, yet analysts say that the cryptocurrency is still on track to erupt into a new bull run in the coming months.Related Reading: Over a Dozen Top Crypto Assets Are Up Over 10% Today: Here’s WhyBitcoin Charts Signal a Start to Another Bull RunA…
Bitcoin could be at risk of seeing major downside in the near-term as it continues ranging sideways.Its recent price action has made it abundantly clear that the cryptocurrency’s buyers are fundamentally weak at the moment. Despite being able to support BTC within the $9,000 region, it still appears to be well-poised to see further downside.There…
Bitcoin has been caught within an unrelenting consolidation phase for the past several weeks.The immense turbulence seen within the equities market did put this bout of sideways trading in jeopardy, but the crypto has since stabilized back within the mid-$9,000 region.There are several factors, however, that seem to indicate that this long-held trading range will…
Bitcoin price has been consolidating in the mid to high $9,000 range for nearly a month and a half. Repeated attempts to break and hold above $10,000 have been rejected thus far.The most recent rejection, data shows, was largely fueled by miners who were seen moving BTC supply to exchanges just ahead of the most…
After rallying as high as ~$10,100 on leading exchanges this week, Bitcoin plunged off a proverbial cliff. Within 12 hours after hitting the highs, the cryptocurrency dipped by almost $1,000, crushed as long orders cascaded BTC lower.While this was a bearish rejection at a crucial level, analysts are still bullish. They cite a confluence of…
The crypto market has seen some intense turbulence throughout the past few days, with Bitcoin firmly guiding most altcoins’ price action over the past few weeks.BTC’s lackluster price action has caused the market to range sideways throughout the past several weeks. This stability did show some signs of degrading yesterday, although the decline sparked by…
While history never repeats, history often rhymes for the Bitcoin market.Each of the asset’s market cycles seems to have periods of eerily familiar price action, marked by common chart formations and technical signals that appear time and time again. This allows analysts to predict what comes next by looking at the past.An analyst recently observed…
Bitcoin price continues to consolidate above $9,000 but has repeatedly failed to break above $10,000. The lower the asset’s value gets, the more it falls below the cost of production for many miners.A key metric measuring the impact price action has on miner operations, is signaling that more miners are capitulating during the current price…