Bitcoin has seen some intense selling pressure today following a bearish resolution to its long-held bout of sideways trading
The cryptocurrency is now at risk of seeing further selling pressure as it struggles to defend a key support level
Analysts are noting that it may decline as low as $8,500 in the hours and days ahead as it struggles to maintain its multi-week uptrend
Bitcoin is now trading right above its key support level at $9,000 following a multi-day bout of consolidation around $9,200.
This decline marks a bearish resolution to this sideways trading phase and seems to put BTC at grave risk of seeing significantly further selling pressure in the days and weeks ahead.
Analysts are also noting that some higher-time frame candle closes have given buyers “zero hope” of catalyzing any momentum.
As for how low this next decline could lead Bitcoin, traders are largely setting their sights on a move to $8,500.
Bitcoin Struggles to Maintain Momentum; At Risk of Seeing a Massive Decline
At the time of writing, Bitcoin is trading down just over 1% at its current price of $9,080.
This decline pushed the crypto all the way down to $9,000 overnight, which is the point at which buyers stepped up and began absorbing the selling pressure.
It is unclear as to whether this slight defense of this level will last for too much longer, however, as this recent breakdown has done damage to the cryptocurrency from a technical perspective.
One popular pseudonymous trader spoke about the cryptocurrency’s price action in a recent tweet, explaining that its recent 12-hour candle closes give bulls no hope of pushing it higher.
“BTC – These 12hr closes are giving 0 hope to the bulls and are demonstrating nice bearish back test. Expecting a local lower low,” he explained while pointing to the below chart.
Image Courtesy of Calmly
This chart has a target set at somewhere between $8,600 and $8,800.
Analyst: BTC Bearish as Long as It Trades Below $9,160
Other analysts are growing increasingly bearish on the benchmark cryptocurrency as well.
Josh Rager – another respected trader and analyst – explained that Bitcoin could be positioned to see a decline towards $8,500 if it is unable to break above $9,160 today.
“BTC: Daily stuck under $9160s still after Thursday close. Keep it simple. if Bitcoin price can’t push back and close above, I think it heads back towards mid $8ks – specifically $8500s. Will keep an eye on weekly chart closer to close this evening,” Rager noted.
Image Courtesy of Josh Rager
Today’s weekly candle close could catalyze some volatility, potentially setting the tone for where the cryptocurrency trends in the weeks ahead.
Featured image from Shutterstock. origin »
Bitcoin struggles as buying pressure wanes, with indicators like SSR and MACD pointing to bearish momentum. BTC risks dipping to $90,623.
The post Bitcoin (BTC) Faces Weak Buying Pressure as Bulls Remain on the Sidelines appeared first on BeInCrypto.
Inflationary pressure and geopolitical uncertainty could see Bitcoin become a global reserve currency, states Cuban The billionaire believes Trump’s lower tax rates and tariffs could push up Bitcoin’s price Elon Musk plans to commit $45m a month to back Trump’s presidential run US billionaire Mark Cuban believes that through a combination of inflationary pressure and […]
The post Mark Cuban: Inflationary Pressure Could See Bitcoin Become Global Reserve appeared first on CoinJournal.
Bitcoin is nearing $45,000 due to reduced selling pressure, especially from miners who have decreased their daily sales. Despite lower profitability, miners are holding onto their assets, while large investors continue to accumulate Bitcoin.
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The movement of whales' holdings to exchanges reflected selling pressure.
The whale count has surged since the interest shown by TradFi giants.
Bitcoin [BTC] has wobbled in a tight trading rThe post Bitcoin: Analyst points out "unmistakable sign" of sell pressure appeared first on AMBCrypto.
-Bitcoin Stamps could play a key role in attracting users to the Bitcoin network.
- Miners saw pressure as difficulty in mining continued to rise.
According to data provided by Messari, on 14 ApThe post Bitcoin [BTC] miners feel the heat with high sell pressure, can this ease their trouble appeared first on AMBCrypto.
Bitcoin's [BTC] ranging performance has demonstrated a healthy demand increase every time it approached $19,000. But this time demand has dropped despite retesting the same price. Let’s look at someThe post Bitcoin’s supply distribution metric credits ongoing selling pressure to... appeared first on AMBCrypto.
Big bitcoin balance holders, or "whales," are moving less crypto onto exchanges, signaling some reduction of sell-side pressure, according to CryptoQuant.
After facing some slight turbulence yesterday, Bitcoin incurred a massive rush of selling pressure today that sent its price reeling down to lows of $10,700 This movement came about in the form of a sharp selloff following a prolonged bout of sideways trading within the lower $11,400 Analysts are now noting that the market is now at serious risk of seeing further downside This comes as multiple large BTC mining pools begin offloading their holdings […]
The majority of Bitcoin proponents have remained bullish as they go all-in on the oldest and most valued cryptocurrency the world has ever known. With whales betting big on Bitcoin, buying pressure has increased immensely, so much that Bitcoin saw over a 35% increase in the value to its current price within the last two […]
Bitcoin has had a rough day, with the benchmark cryptocurrency plummeting towards the low-$9,000 region as bears gain full control of BTC’s price action. This intense downwards pressure seems to mark an extension of the selling pressure that was first incurred when Bitcoin faced a sharp rejection at $10,000 this past Sunday.
Bitcoin’s uptrend in the time since it tapped lows of $6,400 has been unwavering, and BTC’s bulls have been able to successfully garner enough buying pressure to push the cryptocurrency up towards its key resistance levels that exist within the upper-$7,000 region.
Canaan shares recently crashed by as much as 40% on Nasdaq, which was likely caused by the continuous pressure on Bitcoin price. Bitcoin miners are in a tight spot once again, as Bitcoin’s price continues to experience pressure.
We are back above $10,000. Bitcoin has made a good start of August as it surges over 5 percent to $10,500, seeing an uptick in the daily trading volume at $1.21 billion as well. More Buy Pressure than Sell Pressure Driving the Price Up This upswing came on the back of Bitcoin experiencing the first […]
Bitcoin (BTC) and the aggregated crypto markets incurred a sudden influx of buying pressure yesterday that allowed them to climb significantly higher. This upwards momentum came about after a long period of downwards pressure that had jeopardized the upwards momentum that the markets had incurred throughout the first half of 2019.
Bitcoin and the aggregated cryptocurrency markets have faced increasing selling pressure as of late that appears to have put their recently established upwards momentum in jeopardy. Despite this, BTC and other cryptos have yet to incur any massive influxes of selling pressure that lead to the formation of a quick downwards leg.
Summary:Buying pressure continues as the bitcoin market holds above the macro, bearish trendline and the monthly resistance level. There was a small amount of selling pressure but it was absorbed by eager bulls.
Sentiment among traders and speculators in the market is extremely temperamental, swinging between bearish and bullish on an almost daily basis. The charts are relatively neutral but pressure is certainly building in the Bitcoin (BTC) market.
Bitcoin prices under pressure Adoption on the rise as Venezuela is the poster country for crypto Transaction volumes drop days after Feb 24 drawdown In an uptrend, Bitcoin (BTC) is under immense pressure thanks in part to sell-off of Feb 24.
A plethora of bearish cryptocurrency market pressure is forming as of right now. All top currencies are in the red again, with a few exceptions persisting for the time being. Even so, it would appear there are some markets which are getting hammered once again, for no real reason.
Bitcoin Stabilizes Under $4,300 After a monumental rebound early this week, which sent Bitcoin (BTC) above $4,300 after weeks of dismal selling pressure, while altcoins followed close behind, the cryptocurrency market at large has found a sense of stability.
Fortress Blockchain’s net loss worsened to $1. 16 million (1. 55 million Canadian dollars) in the third quarter, from $202,000 in the preceding three-month period, as price pressure continues to mount in the global bitcoin mining industry.
On Wednesday, after a multi-week sell-off that saw crypto assets toss and turn non-stop, investors in this market found some much-needed reprieve. In the span of 12 hours, Bitcoin surged past $3,800, establishing a five-day high at $4,375 on the back of an aggressive influx of buying pressure.
BCHSV/USD Medium-term Trend: Ranging Supply zones: $150, $200, $250 Demand zones: $30, $20, $10 BCHSV is in a range-bound market in its medium-term outlook. $74.26 in the demand area was the low the bearish pressure could drop the cryptocurrency before rejection by the 50-EMA which acted as strong support for the bulls come back. […]
As was to be expected, most of yesterday’s cryptocurrency market gains have been wiped out once again. Sustaining a bit uptrend has proven to be extremely difficult throughout 2018 and this latest round is no different.
Crypto Buying Volume Booms, Bitcoin Heads Above $4,000 After a near non-stop bout of selling pressure, on Tuesday, after a seeming shift in the crypto-related news cycle, Bitcoin and its altcoin brethren unexpectedly underwent a positive price influx.
BCHSV/USD Medium-term Trend: Bearish Supply zones: $150, $200, $250 Demand zones: $30, $20, $10 BCHSV is in a bearish trend in its medium-term outlook. The aftermath of the double-top formation was obvious as predicted in yesterday analysis.
After two weeks of incessant sell pressure and analysts giving up on bulls, it seems like BTC/USD sellers are exhausted. Notice that BTC is finding minor support at $3,600 or Nov 25 floors and if today close higher then we might see a temporary recovery towards $4,700.
The current bearish Bitcoin price pressure has made a lot of traders and enthusiasts uneasy. It is evident there isn’t much to be excited about given the current circumstances, but there are precedents for this negative market pressure as well.
Generally, altcoins are on a downtrend and as long as Bitcoin is under immense sell pressure then they shall continue printing lower lows that’s unless there are specific coin news to jolt prices altering our Litecoin, Stellar Lumens, EOS, Monero or Cardano price analysis Let’s have a look at these charts: EOS Price Analysis Even.
There are numerous cryptocurrencies to keep an eye on right now. Although not all of the currencies are performing as one would expect, things are not looking all that bad either. Bitcoin SV, or Bitcoin Cash SV, is still doing a pretty good job right now.
As Bitcoin spirals to new 2018 lows and drags the enitre cryptocurrency market down with it, investors and analysts are becoming increasingly interested in the factors that could be contributing to this drop that extends further than simply a lack of buying volume and increased selling pressure.
On Saturday, after Bitcoin’s days of relative stability at $4,300, a fresh wave of selling pressure washed over crypto investors worldwide, sending Bitcoin well below its purported support levels at $4,000 and $3,800.
BCHSV/USD Medium-term Trend: Bullish Supply zones: $150, $200, $250 Demand zones: $30, $20, $10 BCHSV is in a bullish trend in its medium-term outlook. The strong bullish pressure that was noticed price forecast of 23rd November did create a double bottom.
Bitcoin Crash Sends Bears Into Euphoria On Saturday, after Bitcoin’s days of relative stability at $4,300, a fresh wave of selling pressure washed over crypto investors across the globe, sending Bitcoin well below its purported support levels at $4,000 and $3,800.
Key Points Bitcoin price fell significantly and traded below $4,000 and $3,800 against the US Dollar. There is a major bearish trend line formed with resistance at $4,200 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
BItcoin (BTC) Falls Under $4,000 Support On A Dime After days of stagnating at the $4,200 price level, on Saturday afternoon (EST), Bitcoin (BTC) suddenly fell under $4,000, a highly-touted level of support for the cryptosphere’s foremost asset.
Global private capital platform CapBridge Pte. Ltd. has garnered a license from the Monetary Authority of Singapore (MAS) to operate a security exchange known as 1exchange (also called 1X), which became operational on November 21, 2018.
“Bitcoin Was Overpriced All Year” While some industry savants expected crypto’s recent crash for months on end, many ‘common Joe’ investors were caught off-guard by this rapid bout of selling pressure.
A new report from Reuters states that the recent price plunge for Bitcoin has eased the pressure on Britain’s financial watchdog to take radical action that could deter investment and financial involvement in the digital money market.
It is safe to say the recent Bitcoin Cash protocol upgrade will continue to cause disruption for quite some time to come. There is still a lot of confusion regarding this fork and the potential long-term outcome of this most recent event.
CoinSpeaker
Susquehanna Exec: BTC Price is Not a Measure of It’s Success
After weeks of stability, in the past week alone, Bitcoin (BTC) has collapsed under $4,500 in a surprising bout of selling pressure.
BCHSV/USD Medium-term Trend: Ranging Supply zones: $80, $90, $100 Demand zones: $30, $20, $10 BCHSV remains in a range-bound market in its medium-term outlook. $50.00 in the supply area was the high the bullish pressure could take the coin as it faced resistance around the 10-EMA with the close of the candle as a […]
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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.
