Bitcoin (BTC) Price Analysis: Bears Still Not Done!

2019-1-11 06:58

Bitcoin was previously trending higher inside a wedge pattern but has since broken lower to signal that sellers aren’t quite done yet. The wedge spans $3,700 to around $4,200 so the resulting drop could be of at least the same size.

The 100 SMA crossed below the longer-term 200 SMA to indicate that the path of least resistance is to the downside. In other words, the selloff is more likely to gain traction from here. Price has dropped by around $300 so far and may still have some room to head further south.

However, RSI is already in the oversold region and is turning higher to signal that sellers are exhausted and could let buyers take over. In that case, a pullback to the nearby resistance levels might be underway, possibly until the broken wedge bottom at $4,000-4,050.

Stochastic is also in the oversold region to reflect exhaustion among sellers. The oscillator may be turning higher to reflect a return in bullish pressure as well.

The recent sharp drop is being pinned on a downturn in sentiment, even as the cryptocurrency market has been off to a mostly positive start for the year. Based on sentiment tracked by TheTIE.io, the drop in hourly sentiment around 3:45 pm yesterday was followed by a prolonged stay in negative territory. The break below the key $4,000 barrier also likely drew more sellers to return.

However, some analysts still maintain that this is merely a short-term correction that could lead buyers to hop in at better levels. After all, expectations for institutional investment this year are still very much intact and traders might be on the lookout for price bargains.

Another factor that is being blamed for the drop is the recent 51% attack on ETC, which reminded market watchers of the vulnerabilities in the sector. This apparently led to a rewriting of the blockchain and double-spending, something that might also affect other coins at some point.

The post Bitcoin (BTC) Price Analysis: Bears Still Not Done! appeared first on Ethereum World News.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 67087.03 (-0.69%)
Объем 24H $32.007b
Изменеия 24h: -3.35 %, 7d: -2.38 %
Cегодня L: $67024.37 - H: $69643.92
Капитализация $1322.338b Rank 1
Цена в час новости $ 3584.18 (1771.75%)

bitcoin done sma wedge btc 200 price

Источник: ethereumworldnews.com

bitcoin done → Результатов: 126


Cryptocurrency analysts predict the end of the Bitcoin bear market

Blockchain investigators have employed a neat method for analyzing Bitcoin activity to determine at what point long-term holders typically yield and sell their Bitcoin. Delphi Digital, an independent research boutique specializing in the digital asset market, has studied Bitcoin transaction data and market prices, calculating that Bitcoin investors are (for the most part) done with their selling.

2019-1-10 19:02


Фото:

‘Too Many Cars, Not Enough BTC’ – Morgan Creek Founder Selling Lambo for Bitcoin

Founder of the digital asset management fund Morgan Creek Capital Management Jason A. Williams has put up his Lamborghini for sale for Bitcoin. Something ‘Never Done’ Before As the price of Bitcoin (BTC) continues to slide around 80 percent below its all-time high value of January 2018, the founder of Morgan Creek Capital Management Jason A.

2019-1-8 03:00


Фото:

Opinion: ICOs Are Dead, Killed By Regulations

ICOs may have been the hottest thing in 2017 but, unlike the hundreds of amusing Bitcoin obituaries throughout the years, the process of issuing digital tokens to raise funds appears to be dead.   Stick a Fork in ICOs, They’re Done The UAE’s Securities and Commodities Authority is expected to unveil regulations for initial coin offering (ICOs) by mid-2019, reports The National.

2018-12-25 06:00


Фото:

Ripple Calls 2018 ‘The Year of Breakthroughs in Blockchain’

As the year is coming to a close, San Francisco based Ripple wrote in a blog post that it is looking forward to broader adoption of the blockchain technology in the upcoming year. It also went on to call 2018 ‘the year of breakthroughs in blockchain’ acknowledging the development work done during the year despite […] Ripple Calls 2018 ‘The Year of Breakthroughs in Blockchain’ was originally found on [blokt] - Blockchain, Bitcoin & Cryptocurrency News.

2018-12-20 19:24


Фото:

Bitcoin Price Analysis: Bear Pennant Breakout Puts $1,700 Price in Sight

Another week, another low. Bitcoin’s market has been bleeding relentlessly for weeks and now, after falling 50% in value in just one month, the market has managed to break south of a major bearish consolidation pattern called a bear pennant:Figure 1: BTC-USD, 4-Hour Candles, Bear Pennant BreakoutThis is a massive bear pennant with a staggering $2,000 measured move.

2018-12-12 01:52


The Start Of Bitcoin Cash SV (BSV) Scaling Road Map Has Just Begun, Says Big Crash Coming Soon

The Beginning Of BSV’s Scaling Road Map In light of the cryptocurrency volatility, Calvin Ayre tweeted and acknowledged the hesitation that investors are feeling. He tweeted, “No surprise here with what BTC and ABC have done to try to kill scaling so that they could run their very stupid side chain experiments.” Ayre also discussed […]

2018-12-10 21:43


Фото:

Mega-experts about Bitcoin: Roger Ver, Julian Assange, Edward Snowden

They don’t always say what they really think. Sometimes their message is hidden “between the lines”. And sometimes verbal interventions are done. But always their opinion deserves to be heard! Roger Ver on Bloomberg The largest business channel Bloomberg tried to make one of the most prominent fighters of the crypto-front, Bitcoin.com CEO Roger Ver. […]

2018-12-7 21:43


Why does Nano (NANO) seem to take the hardest hits in the bear market?

Nano is a 2 year old project that aims to outcompete bitcoin and litecoin (and others) and be the globally accepted payment coin. Easier said than done. Nano had a meteoric rise in last year and even though it is very low right now in comparison to its all time high value, it still outperformed […] The post Why does Nano (NANO) seem to take the hardest hits in the bear market? appeared first on CaptainAltcoin.

2018-12-3 02:35


Фото:

Crypto Analyst: Bitcoin (BTC) To Base At $3,500, But Bears Aren’t Done Yet

Crypto Market Puts A Pause On Tumultuous Activity, Bitcoin Finds Stability To say that crypto’s past two weeks have been tumultuous would, frankly, be putting it rather lightly. On November 13th, Bitcoin (BTC) was trading at $6,200, but since that fateful day, the eye of Bitcoin Cash’s network upgrade (a purported bearish catalyst), BTC has […] The post Crypto Analyst: Bitcoin (BTC) To Base At $3,500, But Bears Aren’t Done Yet appeared first on Ethereum World News.

2018-11-28 05:42


Фото:

New Zealand Shows Its Crypto-Friendly Stance, Invests $300k In Crypto Platform

New Zealand is known as a crypto-friendly country. The nation highlighted its stance once more with the government’s recent $300,000 investment into a local cryptocurrency platform. NZ’s Vimba Investment New Zealand’s government recently awarded a $330,000 grant to the cryptocurrency savings and trading platform Vimba, according to an NZ Adviser report.

2018-11-1 14:29


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin (BTC) Wallets Cross 48 Million for the First Time

Bitcoin has hit another milestone in its rocky journey towards global mainstream adoption. Surpassing 2022 figures in the process. The post Bitcoin (BTC) Wallets Cross 48 Million for the First Time appeared first on BeInCrypto.