Bitcoin to face an imminent drop by $400; Bull momentum vanishes as weekly chart bleeds red

2019-6-10 18:00

Bitcoin’s meteoric surge had everyone believe that it was the start of the bull rally; however, that rally seems to have exhausted the bulls as the price is stuck in a sideways movement.

Short-Term Analysis

The price of Bitcoin is stuck in a sideways movement without any massive dips or surges for over five days, indicating the exhaustion of the bull rally. There is a formation of an ascending channel and the breakout of this channel is bearish.

Source: TradingView

The breakout from this channel, if similar to the previous pattern, could suggest a drop of approximately 10%, which could take the price of Bitcoin to $7,100. However, the drop could be stopped by subsequent resistances at $7,542 and $7,238.

Long Term Analysis

Daily

The daily time frame showed a breakout of the rising wedge, which resulted in a total drop of ~15%. The Relative Strength Index on this time frame shows that it has breached a four-month-old resistance and is headed down, which is a bearish signal.

Source: TradingView

Weekly

Source: TradingView

The weekly time frame for Bitcoin shows the formation of a doji candle, indicating a reversal in the trend. The candle, after the doji, is a red weekly candle that was formed after 5 consecutive weeks of green candles. If the candle after the doji is a red candle, this indicates a reversal in trend. The support for Bitcoin on a weekly time frame can be seen at $5,880.

The post Bitcoin to face an imminent drop by $400; Bull momentum vanishes as weekly chart bleeds red appeared first on AMBCrypto.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 97968.11 (+0.13%)
Объем 24H $44.259b
Изменеия 24h: -0.87 %, 7d: 7.87 %
Cегодня L: $97633.19 - H: $98100.09
Капитализация $1938.395b Rank 1
Цена в час новости $ 8014.16 (1122.44%)

bitcoin sideways movement stuck red price rally

Источник: ambcrypto.com

bitcoin sideways → Результатов: 126


Фото:

Here’s Why Traders Think Bitcoin is on the Cusp of Printing a $1,000 Candle

Bitcoin has continued ranging sideways within the upper-$9,000 region following a series of rejections at $10,000 The ongoing bout of sideways trading may mark buyers’ attempt to generate increased trading activity from bulls Analysts are noting that Bitcoin is nearing the apex of a large ascending triangle The resolution of this pattern could be the impetus for BTC to print a $1,000 candle Bitcoin has struggled to garner much momentum in recent times, with its […]

2020-5-21 02:00


Bitcoin Currently Consolidating After Dropping Towards $7,700, But a Strong Bounce May Be Imminent

Bitcoin and the entire crypto markets have faced increased selling pressure today after experiencing a short bout of sideways trading as BTC struggled to decisively move into the $8,000 region. Although today’s drop has slightly shifted the overall market sentiment for the worse, analysts are now noting that Bitcoin may be nearing a price at.

2019-5-24 01:00


Ravencoin (RVN) Price Prediction 2019 – 1k+ Sats Still In Prospect If Bitcoin Goes Sideways (May 19th Update)

Mid May Update: Technicals 4H RVNBTC RVN is in a trendless ranging (minor trend) hovering around a confluence point of Fib50 and MA50 on the 4 hour chart. One of our interpretations is that RVN just did a wave 2 of Elliot cycles and we are waiting for some pressure relief by bitcoin in the […] The post Ravencoin (RVN) Price Prediction 2019 – 1k+ Sats Still In Prospect If Bitcoin Goes Sideways (May 19th Update) appeared first on CaptainAltcoin.

2019-5-19 19:17


Bitcoin [BTC/USD] and Litecoin [LTC/USD] Price Analysis: Sideways movement takes over as bullish momentum stalls

Price fluctuations in the cryptocurrency industry have been ongoing for some time now, with some cryptocurrencies enjoy a slight bullish run while others still in the bear’s claws. Bitcoin [BTC], the world’s largest cryptocurrency, saw a significant rise in value over the previous week, almost touching the $6000 mark.

2019-5-8 11:30


Bitcoin (BTC), Ethereum (ETH) and XRP Price Analysis and Forecast

BTC/USD Sideways trend is observed in the last 24hrs. A bearish market rally was seen at the beginning of the day (A) when sellers overpowered buyers. But later on, due to the emergence of a reversal pattern, an uptrend followed where the price rose from $5668 to $5799 (A to B) then it pulled back […] The post Bitcoin (BTC), Ethereum (ETH) and XRP Price Analysis and Forecast appeared first on ZyCrypto.

2019-5-6 22:38


Here’s Why Crypto Traders are Abandoning Altcoins to Bullishly Buy Bitcoin

Since January, in less than four months, the valuation of the crypto market is up around $52 billion from $125 billion with the bitcoin price comfortably hovering above the $5,300 mark. Historically, alternative cryptocurrencies, or altcoins, have performed particularly well when bitcoin demonstrates a sideways price movement or remains stable in a tight price range.

2019-4-22 13:12


Anxious Traders Beware: Bitcoin (BTC) May Range Sideways for Weeks to Come

Despite losing the majority of its upwards momentum over the past week, Bitcoin has been able to continue climbing higher and is now approaching the $5,300 level. BTC’s ability to continue climbing higher despite the lack of major buying volume has been technically positive, but traders are still laying out potential bear scenarios that could.

2019-4-19 03:00


Ethereum [ETH] and Tron [TRX] Price Analysis: Coins stumble as bear regains control of market

The cryptocurrency market’s return to the sideways movement pattern has discouraged many new investors and institutions from trying their hand at the field of digital assets. Popular cryptocurrencies like Bitcoin [BTC], Ethereum [ETH], and Tron [TRX] were all subjected to this price clamp, as evidenced by the stagnation of their market volume and market cap.

2019-4-16 15:30


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Stellar: What's next for XLM after 220% surge? Assessing...

XLM's incredible rally indicated intense buying pressure despite the altcoin season not fully kicking in. A short-term pullback from the overbought levels cannot be ruled out, given the overbouThe post Stellar: What's next for XLM after 220% surge? Assessing... appeared first on AMBCrypto.

Trump eyes 'crypto czar' role - Will this take the market cap to $3T?

Trump considers Chris Giancarlo for the first-ever White House cryptocurrency advisory role. Pro-crypto appointments signal Trump’s push for progressive U.S. digital asset policies. DonaldThe post Trump eyes 'crypto czar' role - Will this take the market cap to $3T? appeared first on AMBCrypto.

Capybara Nation surges 348%, hits ATH: Can the rally continue?

Capybara Nation spiked 348%, hitting an all-time high of $0.00002041 before a sharp pullback. Trading volume surged by 371%, signaling growing market interest in Capybara Nation (BARA). CapyThe post Capybara Nation surges 348%, hits ATH: Can the rally continue? appeared first on AMBCrypto.

Ripple’s XRP Surges 188% After Trump’s Victory, CEO Garlinghouse Optimistic

Ripple Labs is poised for a significant transformation as Donald Trump assumes the presidency, potentially reshaping the landscape of U.S. cryptocurrency regulation. The company's CEO, Brad Garlinghouse, shared his optimistic outlook in a recent interview, highlighting how the new administration could alleviate longstanding challenges Ripple has faced under the Biden era. XRP has made [...]

5 key metrics hint at Ethereum's next big bull run – Here's what to watch

Ethereum whales are accumulating while reduced selling pressure hints at a potential supply squeeze. Growing daily transactions and short-term holder interest suggest ETH’s next bullish phaseThe post 5 key metrics hint at Ethereum's next big bull run – Here's what to watch appeared first on AMBCrypto.