As stated in our previous discussion of the bitcoin market, the $6,425 support level was a very important level to hold.
A failure to maintain support at that price level would undoubtedly cascade the market into a test of deeper support values.
Fortunately, the week started off with a decent bounce off the support level: Figure 1: BTC-USD, 1-Day Candles, Support Level Although the volume was not the best, the price managed to rally decently on a fairly wide spread.
Currently, the price seems to be bound within a pseudo-trading range of sorts where it is meandering around, testing both support and resistance.
We could even argue that current trading indicates a pretty sizeable bear flag:Figure 3: BTC-USD, 12-Hour Candles, Bear Flag This current trend has all the hallmarks of a bear flag: consolidating volume, a weakening upward trend and a downtrend that leads into the consolidation pattern.
BTC/USD chart and technical analysis Bitcoin is retesting a major support level of $40,700 and if the price manages to break below this level then it will likely further drop to the $37,000 support level.
The native tokens of The Sandbox and Decentrand are slowly diving into their support price level. While this indicates a potential area of buying interest for investors, it can also suggest a weakening market sentiment leading to a further downward movement.
Bitcoin (BTC), the leading cryptocurrency in terms of market capitalization, is displaying persistent indications of an ongoing downtrend. Currently oscillating between the $26,000 level and the $25,800 mark, it is edging closer to a crucial support level at $25,400.
A bearish order block pushed the price below the $318 support level.
BNB shorts retained a 53.9% advantage in the longs/shorts ratio.
The general slump in the crypto market over the last 24 The post Binance Coin dips under key support level, can bulls rally again appeared first on AMBCrypto.
Bitcoin is currently undergoing a serious correction that has caused its price to see some significant losses throughout the past few days The cryptocurrency is now hovering just a hair above $30,000, with bulls struggling to support it above this level as bears take control Where it trends in the mid-term will undoubtedly depend largely on whether or not $30,000 holds as support Any major break below this level could be all that it takes […]
Bitcoin has seen some strong price action following its recent dip down to lows of $17,600 The support here allowed bulls to establish this level as a mid-term bottom, and it has been rising ever since Where it trends next will depend largely on the continued reaction to the support existing at $19,000, as the flip of this level from resistance to support has been promising Another sustained break below this level could be a […]
Bitcoin saw a nosedive that caused it to erase all of yesterday afternoon’s gains as a result of the intense selling pressure around $13,800 This level marks the cryptocurrency’s 2019 highs, and a continued bout of trading at this level could confirm this as a local top It is important to note that BTC has found support above $13,200, which is a positive sign suggesting that upside is imminent The resistance here isn’t the only […]
Stellar (XLM) has validated long-term support at $0. 077. As long as the price is trading above this level, the trend is considered bullish. Technical indicators further support a price increase.
Bitcoin and the aggregated crypto market are currently caught within the throes of a volatile trading session, with BTC plunging below its key $12,000 support level. The break below this crucial support caused it to plunge as low as $11,600, with bulls stepping up and guarding against a decline beneath this level. Analysts are now […]
ChainLink has been decreasing since May 22 but has bounced at a minor support level. However, there is considerable resistance overhead. Tezos is also trading inside an important support level but has broken down from a short-term ascending support line.
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 ETH market has fallen to the support of the 26-day EMA or to the support level at $290 price level. On the upside, if the 26-day EMA holds, the crypto’s price will rise and retest the $340 overhead resistance level.
Bitcoin continues to coil tightly within its range-bound market as the bulls and bears fight it out to see which is most dominant. On the lower time frames (TF), bitcoin is managing to find support:Figure 1: BTC-USD, 2-Hour Candles, Low TF SupportThe zone outlined by the green line in Figure 1 represents local support that has kept the market afloat for the last week and a half.
Bitcoin’s price once again dipped after it was unable to hold $3,800 as a level of support. This drop led many cryptocurrencies to plunge nearly 5% and has further confirmed that BTC does not have enough buying pressure to allow it to decisively push above $4,000.
This week realized a big gain as bitcoin enjoyed a 25% rally from its local bottom before topping out around $4,400. Support currently appears to be established in the mid-$3,000s as the market remains indecisive over its next move:Figure 1: BTC-USD, Daily Candles, Current Support LevelFigure 1 shows the relevance of the current support level as it represents a previous support level that was never properly retested during last year’s parabolic bull market.
A sideways market has many bitcoin investors wondering if the downward volatility has finally subsided. As stated in our previous discussion of the bitcoin market, the $6,425 support level was a very important level to hold.
Key Points Bitcoin price found support near the $6,620 level and recovered well against the US Dollar. There is a key contracting triangle formed with support at $6,700 and resistance near $6,780 on the hourly chart of the BTC/USD pair (data feed from Kraken).
Key Highlights ETH price found a strong support around the $525 level and recovered against the US Dollar. Yesterday’s highlighted important bullish trend line is intact with support at $518 on the hourly chart of ETH/USD (data feed via Kraken).
Key Points Bitcoin cash price found support near the $865 level and bounced back against the US Dollar. Yesterday’s highlighted short-term bullish trend line is intact with support at $880 on the hourly chart of the BCH/USD pair (data feed from Kraken).
Key Highlights ADA price failed to move above the $0. 1700 level and declined sharply against the US Dollar (tethered). There is a major contracting triangle in place with support near $0. 1560 on the hourly chart of the ADA/USD pair (data feed via Bittrex).
Litecoin’s price falls again on Monday, but remains above support for the lows of June 14 and 16. The LTC / USD is at risk of falling to $ 89, if it fails to rise above the resistance at the $ 94 level.
Key Points Bitcoin price formed a support base above $6,300 and recovered higher against the US Dollar. There was a break above yesterday’s highlighted crucial bearish trend line with resistance at $6,480 on the hourly chart of the BTC/USD pair (data feed from Kraken).
Key Points Bitcoin cash price struggled to settle above the $900 level and declined against the US Dollar. There is a major bearish trend line formed with resistance at $850 on the hourly chart of the BCH/USD pair (data feed from Kraken).
Litecoin (LTC) has been going through a rough patch for the past few months as the price nosedived from a euphoric high of $366 to $88. For the past few months, the price has traded closely in a well defined triangle with a support line passing through the $88 mark.
Like the rest of the cryptocurrency market, EOS has suffered a horrendous week in terms of vale. Although the crypto giant may only be down 1. 19% over the past 24 hours, the crypto is down 26. 63% over the past 7 trading days and 29.
Key Points Bitcoin price formed a decent support near the $6,130 level and recovered against the US Dollar. The BTC/USD pair is currently attempting to break a key bearish trend line with resistance at $6,450 on the hourly chart (data feed from Kraken).
The shift has already started; finance is moving onto the blockchain, leveraging the decentralization and disintermediation benefits of the technology’s architecture.
In the previous BTC-USD market analysis, we discussed a macro pattern forming, called a “symmetrical triangle. ” A symmetrical triangle (shown in red) is a directionally agnostic consolidation pattern.
Bitmain — the largest and most established manufacturer of cryptocurrency mining chips — is considering an IPO, or initial public offering. This could potentially open the company’s books to the world and allow the stock market to assign the company real-time value.
The debate surrounding the true nature of cryptocurrency continues to evolve, with San Francisco Federal Reserve President Mary Daly weighing in on the matter. In a recent interview, Daly argued that crypto should be considered its own distinct asset class, rather than being grouped alongside gold as is often the case. Defining crypto: more than […]
El Salvador, the pioneering nation that made Bitcoin legal tender in 2021, has surpassed 6,000 BTC in its treasury, valued at $561.3 million as of the latest update. This milestone represents not only a strategic accumulation effort but also a bold economic experiment under President Nayib Bukele’s leadership. With a 105% unrealised return on its […]
A sophisticated phishing scam targeting cryptocurrency users has been uncovered, exploiting fake Zoom meeting links to distribute malware and steal assets. The operation, exposed by blockchain security firm SlowMist, saw hackers mimicking Zoom’s platform to compromise sensitive information, including private keys and wallet credentials.
A Cyvers report reveals that the cryptocurrency sector has faced a sharp escalation in hacking incidents this year, with over $2. 3 billion worth of digital assets stolen from the Web3 ecosystem across 165 breaches.
Hyperliquid (HYPE), a decentralized exchange (DEX) token, has seen a sharp 20% drop in price following reports of hacking activity linked to North Korean state-sponsored groups. After an impressive bull run earlier in the month, hitting an all-time high of $35.
El Salvador continues to showcase its unwavering commitment to Bitcoin, doubling down on its cryptocurrency strategy despite stringent restrictions imposed by the International Monetary Fund (IMF). On 19 December 2024, the country purchased an additional 11 Bitcoin (BTC), valued at over $1 million, pushing its total reserves to nearly 6,000 BTC. This comes on the […]
