Bitcoin plunged back towards $9,000 despite showing signs of upside correction in the early Friday session.The latest price correction coincided with the Federal Reserve’s balance sheet contraction that strengthened the US dollar.S&P 500 remained closed on Friday for the Independence Day holiday.The past 24 hours saw Bitcoin breaking its short-term positive correlation with the S&P…
The U.K.’s Financial Conduct Authority (FCA) says the number of British people buying Bitcoin doubled in a year. In a research paper, the authorities said 2.6 million people bought cryptocurrencies at some point.In large part, the FCA’s stance towards crypto assets remains neutral. The regulatory body said that it believes many bought Bitcoin as a…
Bitcoin was rejected once again near the $9,300 resistance against the US Dollar. BTC is currently recovering, but it remains at a risk of more downsides below $9,000.Bitcoin topped near $9,302 and declined more than $300 in the past few hours.The price is now trading well below $9,200 and the 100 hourly simple moving average.There…
Bitcoin has been closely tracking the traditional markets in recent months, which is part of the reason why it has been caught within such a persistent trading range since the start of May.The equities market has been stable as of late, with its ongoing consolidation coming close on the heels of a historic rebound than…
If you’ve followed Bitcoin analysts over recent weeks, you likely know of the importance of $9,500 to the cryptocurrency.As the chart below indicates, $9,500 has been a crucial price point for Bitcoin over the past two months. A rally in late-April topped almost exactly at $9,500 while that level has also acted as a pivot…
Despite seeing a swift rebound, Bitcoin bears were able to push the cryptocurrency below its crucial $9,000 support just minutes ago.This breakdown has come about following a recent rejection posted by the crypto at $9,300, which appears to have become a resistance level.The latest decline below $9,000 indicates that the buying pressure that has been…
Bitcoin is slowly moving higher and it recently tested $9,300 against the US Dollar. BTC is now trading well above the 100 hourly SMA, and it is likely to surge above $9,300.Bitcoin is showing a few positive signs above the $9,200 and $9,150 levels.The price revisited the $9,300 resistance and it is now trading well…
After holding the low-$9,000s for days on end, Bitcoin has attempted to break out over recent hours. The cryptocurrency trades at $9,250 as of the time of this article’s writing, having established a local peak at $9,300.Technical analysis, unfortunately, confirms that BTC may soon see a rejection.Bitcoin Could See a Strong Rejection at $9,500: Here’s…
If the current price action is a top formation, then it doesn’t match the sharp spikes Bitcoin and blow-off tops the cryptocurrency is known for. Only one other time has a comparable rounded top formation appeared on BTCUSD price charts over the last ten years. And when it happened, a major correction followed.Should the first-ever…
Bitcoin is maintaining its interim support level near $9,100, but an analyst expects the price to break bearish towards $8,500.The trader forecasted the downside move days after Bitcoin established a second-quarter top near $10,500 on June 1.The cryptocurrency has since accurately moved as predicted, further raising the possibility of a breakdown ahead.Bitcoin may undergo an…