Bitcoin retests the waters close to $7,000 A recovery is heading Bitcoin’s way but intermediate losses will not be avoided. Bitcoin continues to delay ‘Santa’s’ rally. Last week’s bullish momentum fell short of $7,700. Moreover, this gave the bears a chance to forge a revenge mission that saw BTC give up several support areas including
Bitcoin attempts a breakout from the falling wedge pattern. The buyers have no choice but to defend $7,200 support to avoid losses under $7,000. Bitcoin price action has been drab since the session commenced on Wednesday. The bulls are consolidating the losses, following the retraction from the recent high at $7,654. I expected the bulls
Bitcoin bulls wait anxiously for the falling wedge pattern breakout magic. Bitcoin technical levels stuck in the negative as sellers trample on the buyers. Bitcoin perpetual swap contract by BitMEX is leaning towards a downward momentum mid-through the week’s trading. From June 2019 highs close to $14,000, the largest cryptoasset has been trimming gains profusely.
Chainlink (LINK) is on the up as the market suffers yet another bearish move as the total cryptocurrency market cap fell below the $200 billion USD mark. In a dark 24 hours past, Bitcoin (BTC), the driver of the market, lost over $200 USD since hitting intraday highs of $7,550 USD, representing a 2.6% drop.
Bitcoin sustains an uptrend within a rising channel despite the retreat from $7,600. Bitcoin bulls defend $7,300 support as the momentum towards $7,400 is renewed. Bitcoin has defended $7,300 support after giving up $7,500 and $7,400 support areas. The 38.2% Fib retracement level taken between the previous swing high of $7,867 to a swing low
Bitcoin price continues with the hunt for fordable support or bottom. The forming falling wedge pattern likely to force a reversal above $8,000 and towards $9,000. Bitcoin has given up the support at $7,500 once again. The previous time BTC gave up the same support, the price plunged close to $7,000. The recovery on Friday
Bitcoin lags symmetrical triangle breakout targeting $8,000. XBT/USD defends $7,500 support aided by EMA50 and EMA100. Bitcoin experienced low trading activity over the weekend. The lethargic session followed an impressive recovery on Friday, which saw Bitcoin rise above $7,600. The price, however, failed to sustain gains towards $7,700, giving way for a retreat towards $7,500.
Bitcoin recovers above $7,400 after strongly defending $7,000 key support. XBT/USD is nurturing a possible triangle breakout targeting $8,000. Bitcoin is relatively bullish ahead of the weekend trading session. The shallow recovery follows several days of struggling to defend $7,000 and sustain gains above $7,200. XBT/USD surged briefly on Thursday breaking past the crucial resistance
Bitcoin must defend $7,000 to avert a possible spiral targeting $6,000. The formation of a symmetrical triangle suggests that a rally towards $8,000 is in the offing. Bitcoin has managed to defend the crucial support at $7,000. The downside price action follows a rejection from levels around $7,900. Bitcoin recovered significantly, pushing against several barriers
Bitcoin reignites the downtrend on breaking the flag pattern support. Bitcoin buyers have no choice but to camp at $7,000 and force an upward correction. Bitcoin is extending the bearish leg from the levels we explored on Tuesday. If you look back, giving up the range support between $7,400 and $7,500 has proved to be
Bitcoin struggles to defend bearish flag pattern support in a bid to avert dire losses heading to $6,000. The RSI forms a higher low pattern; continued correction towards the oversold could ignite price movement to $7,500. Bitcoin’s technical picture does not look good for the bulls. The bearish technical picture came into play following the
Despite the constant outlandish predictions from the XRP Army – $10 USD by 2021, $100 etc. – the digital asset token has continued to perform poorly through 2019, recording a yearly low of $0.204 USD on November 26th. With Bitcoin (BTC) and majority of the top cryptos struggling to reach the heights achieved in July
Bitcoin ability to defend the bullish flag pattern support will determine how far recovery goes towards $8,000. Bitcoin longs traders must decide to focus on longer time frames while ignoring short term price actions. Bitcoin is trading above $7,200; a level a bit higher compared to Monday’s low around $7,197. The price is inclined towards
Bitcoin embarks on a gain-trimming mission amid the ongoing hunt for a bottom. $7,000 – $7,1000 becomes a short-term buy zone for traders hoping to sell at $7,400 and $7,700 respectively. Bitcoin continues to narrow down towards $6,000. The down trend is clear shown by taking a broader technical picture using the daily chart. Bitcoin
Bitcoin reignites the down on reaction to the rising wedge pattern break. The bulls must defend $7,200 for dear life or less the price spirals back to $6,500. BitMEX margin trading is a pacesetter in the cryptocurrency market. According to the data by Datamish, a crypto platform that monitors data on BitMEX and makes a
Is $7,900 USD a possibility? Can bears hold out? As we enter into the month of December, the last month of the decade that blessed us with Bitcoin and blockchain technology growth. However, since hitting heights of $19,800 USD in late 2017, the price of the pioneer crypto has been on a wild ride, dropping
Despite the short term spike back above $150, Ethereum is showing signals to trade lower in the coming days as users await the Istanbul hard fork on December 7th 2019. ETH/USD targets $130 if bulls fail to break resistance The price of ETH/USD has been in a sharp downtrend since hitting a yearly high of
Bitcoin is pushing the impact of the head-and-shoulders pattern with $8,200 as the critical target. The rising wedge pattern is dangerous for the accrued gains; its effects could test $6,400. Bitcoin’s recently formed head-and-shoulders pattern is still the center stage of the current price action. The ongoing recovery emanates from lows close to $7,400 to
A rising wedge pattern hints a breakdown of Bitcoin price below $7,000. Bitcoin must defend $7,400 support for dear life and focus on scaling the levels in the direction of $8,000. Bitcoin’s recent recovery ran into acute selling pressure at the bear congestion zone around $7,700. Following the failure to break towards $8,000, the price