Bitcoin price formed a short term top near $10,200 and declined recently against the US Dollar. BTC might continue to decline, but the bulls are likely to remain active above $9,500.
Bitcoin is slowly correcting lower below $10,000 and $9,850 against the US Dollar.
The price even broke the $9,800 area and it might extend its downside correction.
There is a key declining channel forming with resistance near $9,785 on the hourly chart of the BTC/USD pair (data feed from Kraken).
There are chances of a bearish spike towards $9,500 before the bulls take a stand.
Bitcoin Could Extend its Correction
Recently, we saw a break above $10,000 in bitcoin against the US Dollar. However, BTC price failed to clear the $10,200 resistance and a new 2020 high was formed near $10,201.
The price started a downside correction below the $10,000 level and the 100 hourly simple moving average. Moreover, the bears were able to lead the price below the 50% Fib retracement level of the upward move from the $9,659 low to $10,201 high.
The recent decline was such that bitcoin even traded below the $9,850 support level. At the outset, there is a key declining channel forming with resistance near $9,785 on the hourly chart of the BTC/USD pair.
Bitcoin Price
More importantly, the price is trading below the 76.4% Fib retracement level of the upward move from the $9,659 low to $10,201 high. Therefore, there is a risk of a downside extension below the $9,659 swing low in the near term.
The next major support for bitcoin bulls is seen near the $9,530 and $9,500 levels. In addition, the 1.236 Fib extension level of the upward move from the $9,659 low to $10,201 high is also near the $9,530 level.
Any further losses could set the pace for a larger bearish wave, possibly towards the $9,200 support area in the near term.
Bulls Are Still In Control
The recent decline in bitcoin could be seen as a part of a downside correction from the $10,201 swing high. The $9,500 support area could play a major role in the near term.
Its only when the price tumbles below $9,200 and $9,000, the bulls need to start worrying for a trend change to bearish.
Technical indicators:
Hourly MACD – The MACD is slowly gaining momentum in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is sliding and it is now below the 40 level.
Major Support Levels – $9,650 followed by $9,530.
Major Resistance Levels – $9,850, $10,000 and $10,200. The post appeared first on NewsBTC. origin »
A Bitcoin whale is wagering hundreds of millions on Bitcoin’s short-term decline, ahead of a week filled with key economic reports that may significantly impact Bitcoin’s price trajectory and risk appetite among investors.
Bitcoin price started another decline and traded below the $98,000 support. BTC dipped toward the $95,000 level and is currently correcting losses. Bitcoin started a fresh decline below the $98,000 support zone.
Despite recent bouts of decline, Bitcoin remains close to the $10,000-level
Miners dumped their biggest batch of holdings in months as its price hit a major milestone
Bitcoin miners have oThe post Bitcoin - Miner balances see steepest decline of the year, should you worry? appeared first on AMBCrypto.
BTC traders purchase protective put options in response to Monday's 5% decline.The Coinbase premium indicator highlights a decline in demand for Bitcoin in the U.S. market.The daily chart reveals a bearish RSI divergence, signaling potential weakness in price momentum.
Bitcoin’s recent price swings seem to have sparked a wave of uncertainty among retail and institutional investors as its Open Interest (OI) has witnessed a significant decline in light of several negative factors hindering the market, such as macroeconomic turbulence.
Inflows into BTC and ETH have declined by around $6 billion.
Open Interest also confirmed the inflow decline.
Recent shifts in capital from major assets like Bitcoin [BTC], Ethereum [ETH], aThe post Bitcoin, Ethereum inflows decline by $6B: Will stablecoins take the spot? appeared first on AMBCrypto.
Bitcoin is experiencing a significant decline today, dipping below the $64,000 mark to a low of $63,564. This drop represents a 2. 5% decrease in the last 24 hours and an overall 12% decline over the past two weeks.
BlockDAG’s Detailed Roadmap Reveals X1 Miner App Launch Amid Bitcoin Cash Upgrade and Injective Price Decline In the shifting landscape of cryptocurrency, success often hinges on strategic adaptability and clear forward planning.
As the bear market continues to linger, analysts have weighed in on the decline of the flagship cryptocurrency, Bitcoin, and the crypto market, by extension. This time, another crypto analyst has explained what is influencing Bitcoin’s price decline.
The recent decline in Bitcoin (BTC) has raised concerns among market participants as the largest cryptocurrency struggles to maintain its upward momentum. With the loss of key moving averages and the $27,000 level, BTC’s sharp decline has been exacerbated by negative market sentiment and delays in the approval of spot Bitcoin Exchange-Traded Funds (ETFs) by the US Securities and Exchange Commission (SEC).
Last week, Bitcoin’s price dropped from $29,400 to a low of $25,000. While this decline might appear modest given Bitcoin’s historical volatility, it signifies a notable departure from the tight trading range observed over the past two months.
CryptoQuant bitcoin research indicates an 80% decline in the number of addresses logging inflows over a span of 612 days. This marks the largest decline ever recorded in the history of bitcoin.
Bitcoin started a fresh decline from the $32,400 resistance against the US Dollar. BTC must stay above the $29,450 to avoid more downsides. Bitcoin started a fresh decline after it failed to clear the $32,400 resistance zone.
Bitcoin extended decline below the $39,000 level against the US Dollar. BTC found support near the $38,550 zone and started a strong recovery wave. Bitcoin extended decline below the $39,250 and $39,000 levels before it found support.
Bitcoin started a downside correction and traded below $42,000 against the US Dollar. BTC must stay above $40,000 to avoid a trend reversal. Bitcoin started a fresh decline below the $43,000 and $42,000 levels.
Bitcoin started a fresh decline below the $43,000 support against the US Dollar. BTC declined sharply to $40,000 and might continue to move down. Bitcoin started a fresh decline below the $43,000 and $42,500 support levels.
Bitcoin started a strong decline from the $43,500 resistance against the US Dollar. BTC remains at a risk of more downsides below the $39,200 support. Bitcoin started a major decline after it failed to clear the $43,500 resistance.
Bitcoin price failed to stay above $60,000 and started a fresh decline against the US Dollar. BTC could extend losses below $55,000 in the near term. Bitcoin started a fresh decline from the $61,000 resistance zone.
Bitcoin price failed to settle above $65,000 against the US Dollar. BTC started a fresh decline, and it might extend losses below the $60,000 support. Bitcoin started a fresh decline from the $66,400 resistance zone.
Bitcoin exchange balances have been on the decline since the bull rally began. The volumes were expected to go up once the digital asset had hit a new all-time high in October. However, this was not the case.
Bitcoin price extended its decline and tested the key $40,750 support against the US Dollar. BTC could start a fresh increase as long as it is above $40,750. Bitcoin extended its decline below the $42,000 and $41,200 support levels.
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be taken as investment advice
Bitcoin's latest decline did raise a lot of question marks aboutThe post Bitcoin: Investors should not fear a prolonged decline unless... appeared first on AMBCrypto.
Bitcoin price failed again to clear the $35,000 resistance against the US Dollar. BTC started a fresh decline below $34,000 and it remains at a risk of more downsides. Bitcoin started a fresh decline after it failed to settle above the $35,000 resistance zone.
Bitcoin (BTC) jumped by almost 6% on Friday as mining difficulty dropped sharply.
The post Ethereum, altcoins ‘chop’ as crucial Bitcoin metric sees 28% decline appeared first on CryptoSlate.
Bitcoin price extended its decline and traded close to $50,000 against the US Dollar. BTC is now consolidating losses and it is likely to start a recovery towards $55,000. Bitcoin extended its decline below $52,500 and $51,200 support levels.
Bitcoin price started a sharp decline from the $12,000 resistance against the US Dollar. BTC must stay above $11,200 and $11,000 to remain in a positive zone. Bitcoin failed to gain pace above the $12,000 resistance level, and started a sharp decline.
Bitcoin’s dominance has been seeing a sharp decline over the past few days and weeks as altcoins have captured the majority of investors’ attention Yesterday, however, this metric hit a historically important region, and shortly after the benchmark cryptocurrency’s price began rebounding Some analysts are now noting that it may be “pullback time” for altcoins, with this potential decline being perpetuated if Bitcoin can smash above $10,000 Ethereum could also play a big role in […]
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Bitcoin bulls are facing an uphill task near $8,700 and $8,800 against the US Dollar. BTC price could either rally above $8,800 or decline heavily below $8,470 in the coming sessions. Bitcoin is showing a few bearish signs after it was rejected near $8,800.
In the last three hours, the BTC price dropped 15 percent breaking out to the downside of a technical pattern that predicts a further decline to $6,500. The drop coincides with a Bitcoin hashrate drop of over 30 percent and a ruling on the Bitfinex Tether investigation.
Bitcoin has come closer to establishing its longest-running bear market, alarmed Alex Kruger. The famous cryptocurrency trading analyst said Monday that it was the first time bitcoin had entered a long period of selling sentiment in its 10-year history.
Bitcoin bulls have been ardently defending the $4,000 price level over the past several days, although they have not gained enough upwards momentum to propel Bitcoin’s price any higher. Despite not maintaining any significant upwards momentum, it is important to note that short positions for the cryptocurrency have been on the decline, which may mean.
After weeks of relative calm, the predicted massive Bitcoin price movement finally happened. Unfortunately, it did not move in the upward trend that everyone was hoping for. Instead, the price of the world’s largest crypto suffered a massive decline, with its price decreasing by almost $800 in just 11 hours.
Dogecoin price spiked over 200% back in August from support near $0. 0022 to a high near $0. 007. The price move came at a point where there were mixed performances from other cryptocurrencies. A bearish divergence between price and RSI which took place after the spike catalyzed a decline which is still taking place.
Bearish movements took place across the cryptocurrency market yesterday as Bitcoin returned to sub-$6k levels. Ripple’s XRP is no different and is now on its third consecutive day of declines.
According to Bloomberg’s on November 13, 2018, stablecoins have become the next hot sector to emerge from the cryptocurrency industry, mirroring triple-digit returns from 2017’s initial coin offering (ICO) frenzy.
By now, most of you know that Bitcoin is trading at its lowest price since October last year. The sharp decline was sudden and brought the whole market down with it, some cryptos more than others.
Ripple’s XRP was forming a bullish structure with its recent price action but the market movements to start this week have led to a far more bearish outlook for the third largest cryptocurrency by market cap.
When Binance announced its support for the upcoming Bitcoin Cash hard fork, a price spike was catalyzed in the fourth largest cryptocurrency by market cap. The price spike continued with further exchanges announcing their support for the hard fork but, the price has since started to retrace.
Despite the decline of Bitcoin throughout the entirety of 2018, the world’s leading cryptocurrency’s daily average profit of 0. 347 percent per day has been generous for its long-term holders. Bitcoin: A Store of Value Indeed Bitcoin’s (BTC) daily moving average since January 1st, 2011, is 0.
FOMO Moments Crypto markets still in slow slide; Bitcoin Cash rebounding a little, Stellar, Nem, Zcash falling harder. The slow decline in crypto markets has continued as the week draws on. Falling back below $210 billion total capitalization, cryptocurrency prices keep dropping albeit at a very languid pace.
Bitcoin cash bears are lining up. There are now almost twice as many open short positions betting that the price of bitcoin cash (BCH) will fall as there are longs betting on a rise in its price. According to data from crypto exchange Bitfinex, which allows margin trading for multiple cryptocurrencies, there are currently 89,457 open […]
New data is offering insight into how crypto traders are pricing in a coming technical update to bitcoin cash, one that could cause the world’s fourth most valuable blockchain to split into two competing networks.
The top two crypto-dogs are stumbling with each passing day. Some days a peak, other days a significant decline. The last 24hrs happen to be one of the latter days with Ethereum losing as much as 1.
Кажется, началось! Администрация США прямо сейчас готовится к самой масштабной в истории закупке биткоина для крипторезерва страны. Об этом заявил Бо Хайнс, высокопоставленный чиновник Белого Дома, ответственный за цифровые активы.
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На самой популярной платформе Polymarket пользователи вовсю ставят против того, что биток в 2025 году улетит выше $138,000 — это ПОТОЛОК. А кто-то вообще ставит на то, что BTC может провалиться ниже $60,000.
