Bitcoin posted a grim plunge yesterday that caused it to see notable losses
Buyers were able to ardently defend against a break below the key support that has been established at $9,000
Analysts are now widely noting that BTC could be positioned to see further weakness in spite of its bullish overnight rebound
There are six key high time frame support levels that buyers have built – ranging between $1,000 and $7,000
Buyers must post an ardent defense of one of these levels in order for the cryptocurrency to see a massive upswing in the months and years ahead
Bitcoin is currently consolidating within the mid-$9,000 region. The crypto has been trading around this price level for the past few weeks, but a sharp selloff seen yesterday jeopardized this trading range.
Buyers were able to guard against a downside break, but the movement once again elucidated just how heavy the selling pressure around $10,000 truly is.
Analysts do tend to think further downside is imminent for BTC, and one trader is pointing to six key support levels that could spark the next major rally.
The highest-level sits at $7,000, whereas the lowest-level sits at $1,000. Although it is highly improbable that BTC taps any of these lower support levels, how it responds to $6,000 and $7,000 could prove to be vital for its macro trend.
Bitcoin’s Technical Outlook Weakens Following Latest $10k Rejection
Two days ago, Bitcoin bulls attempted to propel the crypto into the five-figure price region.
This movement led it to highs of $10,050 before it faced a swift selloff that led to its key support at $9,700. This support quickly dissolved, causing the crypto to reel to lows of $9,000.
The support here has since boosted BTC.
At the time of writing, Bitcoin is trading down just under 2% at its current price of $9,520. This marks a notable climb from its 24-hour lows.
Analysts aren’t convinced that this rebound has bolstered its technical structure, however, as many are still forecasting further downside.
One such analyst noted that Bitcoin’s daily close below $9,300 yesterday has opened the gates for it to trend lower in the days and weeks ahead.
“Looking to sell rallies today following daily close below $9300. Levels line up at $9300-$9400. Wicks higher are expected.”
BTC May Soon Confirm Macro Distribution Pattern: Support Levels to Watch
Another trader recently mused the possibility that Bitcoin’s price action throughout the past couple of months has been distribution.
If this is the case, then the cryptocurrency could be poised for some serious downside.
“BTC: Nothing has changed here, it just took a little longer. Distribution confirmation: 3D candle closing below $8.5k. Distribution invalidation: consolidation + continuation above the range high. If confirmed, the important supports are: $7k, $6k, $4.5k, $3k, $2k and $1k,” he said.
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Ethereum has once again declined back down to its long-held consolidation channel around $200 The cryptocurrency is now showing some signs of weakness as it continues performing poorly alongside Bitcoin and most other major altcoins This weakness could soon lead it down to a key support level that must be maintained by buyers A failure for ETH to hold above this level could mean a “car crash” style decline is imminent, according to one analyst […]
Ethereum saw a sharp overnight selloff that caused it to briefly dip into the sub-$200 level, putting it at grave risk of seeing a capitulatory decline Buyers were able to guard against this, however, and subsequently propelled the cryptocurrency back into the $200 region It now appears that ETH could still be at risk of seeing significant near-term downside, however, as a failure for it to surmount a resistance level it is currently stuck below […]
Chainlink has seen a notable recovery in the time following its latest selloff, with the cryptocurrency’s buyers defending it from dropping below the strong support that has been established around $3.
• The coin is in a bullish trend in its overall outlook. • Buyers are in control of the market at the present. ETH/USD Medium-term Trend: Bullish • Resistance levels : $260, $280, $300 • Support levels: $85, $75, $65 The coin structure looks bullish in its medium-term outlook. The bears increase momentum push the […]
Another week, another round of Crypto Tidbits. Wow, what a past seven days for Bitcoin, cryptocurrencies, and global markets overall. Bitcoin saw a blood-red week, to say the least, falling from $10,000 on Sunday to a low of ~$8,480 within a few days’ time as buyers failed to keep the asset above the key $9,500 support....
• Cardano price remains in a bearish zone and declined below the $0. 04 support area. • Buyers in hibernation as the fall continues. ADA/USD Medium-term Trend: Bullish • Resistance levels : $0. 07, $0.
• Price now trades in the range above the resistance level. • The crypto is in a strong up move. Buyers are in control of the market trading in the upper resistance level. ETH/USD Medium-term Trend: Bullish • Resistance levels : $280, $300, $320 • Support levels: $110, $100, $80 The coin continues in a […]
• Both the medium-term and short-term continues in an uptrend market. • Buyers are in control of market trading in the upper resistance area. ETH/USD Medium-term Trend: Bullish • Resistance levels : $290, $300, $310 • Support levels: $110, $100, $80 The crypto continues in a bullish trend market in its medium-term outlook. The increasing […]
• The cryptocurrency continues to trade in a bullish trend. • Buyers are still in control of the coin. LTC/USD Medium-term Trend: Bullish • Resistance Levels : $85. 00, $95. 00, $105. 00 • Support Levels: $35.
Ripple price is trading nicely above the $0. 2300 and $0. 2335 support levels. XRP to USD is likely to surge again if it clears the $0. 2405 and $0. 2415 resistance levels. Key Takeaways: XRP/USD Ripple price declined recently from the $0.
Ethereum has been closely tracking Bitcoin’s price action over the past several days, which has led it to incur heightened volatility that has generally favored ETH’s buyers. The crypto has now been able to reclaim its position within the $140 region, which comes after its bulls defended a key support region.
Bitcoin’s bulls took a hit today after the cryptocurrency faced a violent rejection at $7,700 that led BTC as low as $7,250 before it found enough support to halt this downwards movement. It is important to note that recent fundamental and technical developments still heavily favor the cryptocurrency’s buyers, which may mean that this latest […]
The post Analyst: here’s why Bitcoin is bound to see further bullishness despite $7,700 rejection appeared first on CryptoSlate.
After attempting to propel Bitcoin (BTC) higher yesterday, the cryptocurrency’s bulls lost some of their strength, allowing bears to push the crypto back down to $7,200 – which appears to be a key support level for the cryptocurrency that buyers have continued defending.
The cryptocurrency market is back under pressure with Bitcoin and a number of other altcoins, including XRP and Bitcoin Cash, losing bullish momentum and trading in the red. Bitcoin quickly reversed from a high of $8,780 to a low of $8,620.
After hovering around the $8,000 region for an extended period of time, Bitcoin has been able to garner some hints of bullishness as its buyers have pushed its price up over 3%. This latest surge further confirms the upper-$7,000 region as a strong level of support for BTC.
XRP’s movement in the market has been undergoing a crest and trough-like movement since the beginning of 2019, however, there have been spurts of growth noted. The third-largest coin momentarily breached the psychological support at $0.
This morning, Bitcoin price briefly broke back below $8,000 and is currently teetering on the support line – which could possibly be the last stand for bulls in this range before new lows are reached.
The leading digital asset keeps trading above the support level of $9,100; the buyers manage to keep the leadership. The movement upwards should be confirmed by a breakaway of the upper border of the Triangle pattern and securing above $12,385, in which case the levels of $15,000 and $16,000 per coin may become available in the short term.
By Dmitriy Gurkovskiy, Chief Analyst at RoboForex The second cryptocurrency in terms of capitalization, the Ethereum, continues a declining correction. The test of the important support level of $165 is close; if it happens, the buyers will have to demonstrate a bounce in order to prevent further decline.
Just as expected, Bitcoin managed to test the important support area close to $9,000 several times. So far, buyers have been able to keep the price above this level, which...
The post Bitcoin Might $11,000 Says This Weeks Crypto Technical Analysis appeared first on Trustnodes.
XZC/USD market operations maintain a range trading feature of the last sessions. The XZC/USD market sellers appear to have a better chance of the market control at the expense of the buyers’ inactive approach.
EOS/USD Medium-term Trend: Bullish Resistance levels: $ 6.50, $7.00, $7.50. Support levels: $5.00, $4.50, $4.00. Last week the price of EOS was in a bearish6 trend. The price of EOS has reached the oversold region of the market as the buyers emerged from a low of $3.30 price level. The EOS market fell to the […]
The cryptocurrency market is experiencing yet another wave of correction. Bitcoin continues declining, potentially ready to test the support level at $9,000; for the buyers it will be important to.
Meanwhile, the Dogecoin had been fluctuating between the levels of $0. 002500 and $0. 003500 in the last three months. The small body candlesticks appear to describe the indecision between the buyers and sellers at the current market price.
XVG/USD Medium-term Trend: Ranging Resistance Levels: $0. 00800, $0. 00900, $0. 060 Support levels: $0. 00600, $0. 00500, $0. 00400 Yesterday, July 18, the price of the Verge was in a bearish trend that revisited the previous low of November 2018.
On the upside, if more buyers are introduced at the upper price level, the BTC price will rise. On the downside, if the bears break the $11,000 support level the crypto will be in a downtrend. BTC/USD Long-term Trend: Ranging Resistance levels: $10,500, $11,000, $11,500 Support levels: $11,000, $10,500, $10,000 The BTC/USD pair is in […]
Tron (TRX) reacts from 3. 1 cents, adds 6. 2 percent After Justin Sun’s efforts, Tron is dominating in terms of dApp activity Reaffirming the presence of buyers, yesterday’s support at 3. 1 cents is a mark of bulls.
The coin is trading between the levels of $1. 600 and $2. 200. Also, more buyers should be introduced at upper price levels to come out of the current range-bound move. LSK/USD Long-term Trend: Ranging Resistance levels: $2.
On the upside, if the price is sustained above the EMAs, the crypto’s price will rise to retest the $173 overhead resistance level. The price is above the EMAs but is characterized by small body candlestick which described the indecision between the buyers and sellers.
Today, the BTC price is trading at $9,774 as at the time of writing. On the upside, the bulls will overcome resistance levels, if more buyers are introduced at the upper price levels. BTC/USD Medium-term Trend: Bullish Resistance Levels: $9,700, $9,800 ,$9,900 Support levels: $9,500, $9,400, $9, 400 Yesterday, June 20, the BTC price was […]
It’s in the best interest of businesses to offer their customers a variety of payment options. Cryptocurrencies can undoubtedly bring more buyers and many merchants have introduced support for digital assets.
The price of the Verge fell from the $0. 011500 overhead resistance level to the support of $0. 008500 price level. On the upside, if the bulls break above the EMA and more buyers at the upper price levels, the price Verge would rise.
The $2. 200 overhead resistance forms the upper price range, More buyers than sellers are needed at the upper price level. LSK/BTC Long-term Trend: Bearish Resistance levels: $2. 2000, $2. 4000, $2.
The appearance of small body candlesticks provides indecision between the buyers and sellers at the current market price. At the upper price level, if there is a bullish breakout at the $280 resistance level, the ETH price will rally above the $320 price level.
TRX up 22. 3 percent from last week’s close US SEC flexibility will spur innovation and Tron set to benefit Overly, US SEC decision to support innovation could end up benefiting TRX. At the moment, bulls are back, wiping losses and confirming buyers of late May.
To Bitcoin or Not to BitcoinDuring the “scaling debate” before the SegWit2X user-activated soft fork (UASF), Bitcoin businesses were getting their first bitter taste of Bitcoin’s censorship resistance.
In the last one week, the BTC price fluctuated between the levels of $7,250 and $8,250. The BTC price is characterised with small body candlesticks describing the indecision of buyers and sellers at the current market price.
The recent surge in volatility has made the BTC price to reach the $8,000 price level. More buyers were at the 0. 618 retracement level as the volatility increased to the continuation zone of the 0.
By CCN: eBay is readying support for “virtual currencies” and “digital collectables” if new promotional adverts are to be believed. Spotted at the Consensus conference in New York, the banners suggest eBay is about to enter the cryptocurrency arena in what would be a major mainstream breakthrough.
On May 9, 2019, the Financial Crimes Enforcement Network (FinCEN), issued new “interpretive guidance” about how its regulations apply to businesses that conduct money transmissions in virtual currencies.
The crypto’s price needed more buyers than sellers at the upper price levels to consolidate the bullish gains. On the upside, since the bulls have broken the $5,400 resistance level, the crypto’s price will revisit the highs of $5,500 and $6,000.
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Cardano has followed up on the declines of last week to retest a support level at $0. 08. $0. 08 was an important level in the weeks after Cardano initially launching, acting as a resistance point.
BitTorrent Token (BTT), continues its weak performance as it trades above support at $0. 000736. After numerous tests, trading last week resulted in the price dropping below the level. Numerous tests of a support level serve to weaken the level with fewer buyers to hold the level on each consecutive test.
Bitcoin price settled above the $5,160 resistance and climbed above $5,250 against the US Dollar. The price traded towards the $5,300 resistance and it is currently consolidating gains. There is a key ascending channel in place with support at $5,230 on the hourly chart of the BTC/USD pair (data feed from Kraken).
ETH price declined towards the $160 support against the US Dollar, where buyers took a stand. The price recently recovered and traded above the $165 and $166 resistance levels. There was a break above a contracting triangle with resistance at $164 on the hourly chart of ETH/USD (data feed via Kraken).
A fresh yearly high was formed at $5,465 before bitcoin corrected lower against the US Dollar. The price started a downside correction and traded below the $5,200 support level. There was a break below a major bullish trend line with support at $5,200 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
Bitcoin price extended losses and traded below the $95,000 zone. BTC is showing bearish signs and might decline heavily below the $92,000 level. Bitcoin started a fresh decline below the $95,000 zone.
Bitcoin price extended losses and traded below the $100,000 zone. BTC is showing bearish signs and might continue to move down toward the $91,200 support zone. Bitcoin started a fresh decline from the $100,000 resistance zone.
Bitcoin price extended losses and traded below the $100,000 zone. BTC is struggling and might continue to move down toward the $92,000 support zone. Bitcoin started a fresh decline from the $102,000 resistance zone.
Bitcoin price started another decline below the $105,000 zone. BTC is down nearly 5% and attempting a close below the $100,000 support zone. Bitcoin started a fresh decline from the $108,000 resistance zone.
Bitcoin price started another increase above the $106,000 resistance zone. BTC traded to a new all-time high above $108,000 and is currently correcting gains. Bitcoin started a fresh surge above the $106,000 zone.
Bitcoin price struggled to clear the $102,000 resistance zone. BTC is correcting gains and might test the $97,500 support zone. Bitcoin started a downside correction from the $102,000 zone. The price is trading above $98,000 and the 100 hourly Simple moving average.
Elon Musk’s crypto investments have soared to staggering new heights, with the combined Bitcoin holdings of Tesla and SpaceX reaching an estimated value of $2 billion.
