Bitcoin hasn’t fared too well over the past few days, tumbling as low as $9,500 on Monday as sellers have started to liquidate their stacks en-masse. This meant that at the current correction’s worst, BTC was down just around 10% from the local $10,550 high that was set last week.
While this plunge seemingly marks a strong reversal from the decisive uptrend Bitcoin has been trading in for the past two months, a key signal suggests that bulls may once again take over, likely to push the asset back above $10,000 and beyond.
Related Reading: Crypto Tidbits: Bitcoin Slides Under $10,000, JP Morgan & Ethereum, and the US’ Cryptocurrency Crackdown
Bitcoin About to Roar Even Higher, Indicator Predicts
If you’ve spent any time at all perusing Crypto Twitter, you likely know of TD Sequential, which is a time-based indicator that tries to predict when an asset will see a certain trend or reversal of its ongoing trend.
The Sequential has done well in predicting Bitcoin’s trends. Extremely well. So well, in fact, that the creator of the indicator remarked in an interview with Bloomberg that 13 candles (signals reversals) were seen when Bitcoin hit $20,000 in December 2017, when BTC cratered to $3,150 in December 2018, and near the $14,000 top seen in June.
The indicator is now signaling that Bitcoin will see a reversal on a short-term time frame. Analyst Crypto Hamster remarked that the TD Sequential for the four-hour chart just printed a red 9, suggesting a recovery towards $10,000 and beyond.
Indeed, the prior 9 candle seen on the four-hour chart was a precursor to a 10% surge higher than brought the asset from $9,600 or so to $10,550 in a few days’ time.
TD Sequential: a red "9" on a 4h TF. I wouldn't trust it too much, but hey, it is there… $BTC $BTCUSD #bitcoin pic.twitter.com/czm7AhPAV9
— CryptoHamster (@CryptoHamsterIO) February 18, 2020
Long-Term Trend Still Positive
Whatever Bitcoin will do in the near future, analysts have said they’re convinced the cryptocurrency has entered back into a long-term uptrend.
Analysts on Monday observed that a key technical signal had appeared: the 50-day simple moving average and the 200-day simple moving average crossed, with the former moving over the latter for the first time in nearly a year.
For those not versed in technical analysis, this event is called a “golden cross.” As Investopedia describes it:
As long-term indicators carry more weight, the golden cross indicates a bull market on the horizon and is reinforced by high trading volumes.
The importance of this shouldn’t be understated: in 2019, Bitcoin rallied by nearly 200% from the time of the golden cross, and the golden cross in October 2015 preceded an over 6,000% move higher.
On the fundamental side of things, there is a confluence of geopolitical and macroeconomic factors that could help push the price of BTC higher. These include but are not limited to the impending block reward halving, the lowering of interest rates by central banks, potential volatility in the equities markets, and trade tensions between nations.
Featured Image from Shutterstock origin »
Over the past week, Bitcoin has experienced a strong market correction with prices falling as low as $80,000. Based on a double top formation, Bitcoin is expected to head to $76,000 before re-establishing an uptrend.
Bitcoin price started a short-term downside correction from the $106,250 zone. BTC is consolidating above $100,000 and might aim for a fresh increase. Bitcoin started a downside correction from the $106,250 zone.
Selling pressure on Bitcoin was rising.
A price correction can push BTC down to $95.8k again.
After crossing a historic $100k mark, Bitcoin [BTC] witnessed a pullback and dropped near thThe post Is a Bitcoin price correction coming? Assessing key levels appeared first on AMBCrypto.
Bitcoin price started a downside correction and tested the $66,500 zone. BTC is now consolidating and might aim for a fresh increase above $67,800. Bitcoin struggled to test the $70,000 resistance zone and started a downside correction.
Bitcoin surged by 7. 96% over the past week.
Market fundamentals suggested that Bitcoin could experience a market correction soon.
As expected, Bitcoin [BTC] has experienced a strong October.
Bitcoin's struggle to break $65,000 could lead to increased market volatility and potential downward pressure, affecting investor sentiment.
The post Bitcoin faces rejection at $65,000 and risks correction to $60,000 appeared first on Crypto Briefing.
Bitcoin price failed to continue higher above the $63,650 resistance zone. BTC is now correcting gains and might revisit the $60,850 support. Bitcoin started a downside correction from the $63,650 resistance zone.
Bitcoin price started a downside correction from the $71,650 resistance zone. BTC is now consolidating and might correct toward the $69,500 support. Bitcoin struggled above $71,500 and started a downside correction.
Co-founder and Chief Executive Officer (CEO) of Real Vision, Raoul Pal has shed light on the current market state and the future outlook of Bitcoin, the world’s largest cryptocurrency. Despite the cryptocurrency witnessing declines of more than 15%, the financial expert has uncovered a significant pattern that indicates a potential bull flag following Bitcoin’s price correction.
As the 2024 Bitcoin halving approaches, Bitcoin (BTC) is struggling to hold above $63,000, and the price is expected to drop even further in what is termed a “correction."
The rally in BTC’s price has attracted many new short-term holders.
Their profit-taking habit may result in a price correction.
The recent hike in Bitcoin’s [BTC] value has led to an uThe post Bitcoin is at risk of a correction, thanks to this cohort appeared first on AMBCrypto.
Short-term holders began to accumulate BTC despite a price correction.
MVRV ratios declined while traders remained positive.
Bitcoin [BTC] witnessed a massive correction in the last few daysThe post Bitcoin: will this cohort keep bears at bay? appeared first on AMBCrypto.
Bitcoin’s open interest—the total number of outstanding derivative contracts that have not been settled—has surged to levels not seen in over six months. Amid these high-interest levels, market analysts warn that Bitcoin may see a 20% price correction.
Bearish sentiment around BTC has been on the rise.
Bitcoin's growth rate slowed down in the last 24 hours.
As the crypto market initiated its bull rally, investors' expectations, especiaThe post Bitcoin's greed index hits 72, is a correction looming? appeared first on AMBCrypto.
The Bitcoin Cash (BCH) price has possibly completed its correction and will increase to a new yearly high.
The post Bitcoin Cash (BCH) Price Correction Ends, Is a 50% Upside in Sight? appeared first on BeInCrypto.
Bitcoin started a downside correction from the $24,000 resistance against the US Dollar. BTC is finding bids near $22,500 and might start a fresh increase. Bitcoin started a downside correction and traded below the $23,000 level.
The last six months haven't been the best for Bitcoin, with the king coin's performance keeping most altcoins subdued as well. With minimal hikes every now and then, followed by dips that invalidate tThe post Bitcoin: Revising the odds of BTC hitting $372K after latest correction appeared first on AMBCrypto.
After hitting a new all-time high of $69,000 on November 10, Bitcoin has been caught in a downtrend.
The post Bitcoin bounce signals the end to the least severe correction of 2021 appeared first on CryptoSlate.
Bitcoin started a downside correction from the $55,700 zone against the US Dollar. BTC is correcting lower, but dips remain supported near $53,000 and $53,200. Bitcoin started a downside correction from well above the $55,500 level.
Bitcoin price started a downside correction from the $42,600 zone against the US Dollar. BTC is now trading below $40,000 and it might extend losses towards $38,500. Bitcoin started a downside correction below the $41,200 and $40,000 support levels.
Bitcoin has finally turned upwards, rising to $59,000 after weeks at low $50ks or even below it following a correction from the all time high of $64,000. The crypto has...
An overnight price correction in the Bitcoin market after the Federal Reserve Chairman Jerome Powell's testimony paused midway as Elon Musk came to the rescue.
As bitcoin makes the long-awaited correction to $50,000, a potential upside correction is imminent as a bullish pattern that could potentially send bitcoin breaking out $58,000 has formed. Following a sharp dip from last week, bitcoin bulls surged to $53,000 where support was sustained.
Despite the considerable drop, it’s likely that this is a short-term correction, Bitcoin is expected to make another new high after. Bitcoin Attempts to Find Support Bitcoin decreased considerably on Feb.
Bitcoin price started a downside correction from the $52,750 all-time high against the US Dollar. BTC is now approaching a couple of important supports near $50,500. Bitcoin topped near the $52,750 level and started a downside correction.
After reaching all-time highs, both Bitcoin and Ether have faced a wave of correction; while the former seems to be stagnated, the latter slid further. Experts believe the current dip in prices is a tThe post Popular analyst prefers altcoins LINK, UNI, others during Bitcoin & Eth's correction phase appeared first on AMBCrypto.
Soon after bitcoin shed over $2,500, when it dropped to $25,772 from the $28,000 range, on 27 December, a crypto analyst concluded that this phenomenon was a “very healthy correction.” Trader and The post After ‘very healthy’ correction, why most industry experts are still bullish on Bitcoin appeared first on AMBCrypto.
Bitcoin has had a good run for the past two months, even surging to almost $20,000 earlier last week. Raoul Pal, the CEO of Real Vision Group has pinpointed several technicals that now suggest that the number one crypto is about to suffer a deeper correction in the near term. Bitcoin Looks Poised For A […]
With Bitcoin and most of the market's altcoins rallying in the backdrop, the Stablecoin Ratio seems to be highlighting the rise of sell-side pressure. At the time of writing, Bitcoin was trading at $1The post Depending on this metric, Bitcoin may be due for a correction! appeared first on AMBCrypto.
Bitcoin has embarked on a strong correction over the past 24 hours. After peaking at $11,850 earlier this week, the asset slipped as low as $11,150 on Tuesday as selling mounted on spot exchanges, evidenced by a negative predicted funding rate with OKEx’ BTC perpetual futures market.
Bitcoin seriously broke higher on Monday, breaking above $12,400 for the first time since 2019. The asset has since suffered a strong correction to $11,900, where it trades as of this article’s writing.
The much-anticipated correction in Bitcoin (Ticker: BTCUSD) has begun. But, according to veteran trader Jonny Moe, it is no reason for bulls to mourn. The analyst projected the benchmark cryptocurrency’s rally to resume after daytraders secured their short-term profits at $12,000.
Bitcoin declined during the Friday trading session after establishing its weekly top at $9,686. The downside correction appeared on rising profit-taking sentiment near $9,700, a historically strong resistance level.
The severe market correction has cut short Bitcoin's bullish surges after the king coin plunged to $6,287, at press time. This move towards the downside was propelled by a drop of 6.30% over a period The post Bitcoin's active supply figures touch new highs despite downside correction appeared first on AMBCrypto.
The Bitcoin price has been decreasing since reaching a high of $10,491 on February 13. The decrease has been rapid and has taken the form of an A-B-C correction, which is nearing its end. Bitcoin (BTC) Price Highlights Bitcoin might have completed an A-B-C correction.
Bitcoin spiked above $9,400 and $9,500 against the US Dollar. BTC traded to a new yearly high at $9,569 and it is currently showing signs of a downside correction. Bitcoin price is likely forming a short term top near the $9,570 level against the US Dollar.
Bitcoin has continued climbing today, nearly reaching a three-month high. Indicators such as open interest, however, are signaling that a correction may be imminent. A few hours ago Bitcoin made another sustained move higher to knock on $9,400, its highest price since early November.
Bitcoin started a downside correction from the 2020 high at $9,191 against the US Dollar. However, BTC price is still in an uptrend and it could find buyers near $8,000 or $7,670. Bitcoin price started a short term downside correction below $9,000 and $8,800.
Bitcoin price started a downside correction after rallying to a new 2020 high near $8,460 against the US Dollar. BTC corrected $500, but the price is still above many key supports. Bitcoin failed to continue above $8,500 and started a downside correction against the US Dollar.
The bitcoin price movement has become quite complex and most analysts are not sure where it could be going next. The pattern has been unstable since the last week and the future seems to be getting bleaker as Bitcoin has failed to reach $12,000 again since the 30% correction experienced recently.
By Dmitriy Gurkovskiy, Chief Analyst at RoboForex At the end of the first week of July the Bitcoin has stabilized, trading at $11,194. 00. On H4 the quotations of the Bitcoin (BTCUSD) have dropped which is nothing but a correction after a long-term growth.
Bitcoin has been on a parabolic bullish rally for quite a while, which was followed by sideways movement of the price. However, at press time, the pattern formed indicated an imminent correction.
Key Points Bitcoin price topped near the $8,500 level and started a downside correction against the US Dollar. Yesterday’s highlighted key connecting bullish trend line was breached with support at $8,190 on the hourly chart of the BTC/USD pair (data feed from Kraken).
The Dogecoin price may be in for more pain, as a crypto analyst has projected another significant breakdown to new lows. On the bright side, the analyst suggests that this retracement will offer a discount for traders who aim to capitalize on the buy-dip opportunities and accumulate ahead of a potential increase.
The Aave (AAVE) market suffered significant losses in the past week as price declined by 17. 07% according to data from CoinMarketCap. While the DeFi token has shown some stability in the last 24 hours, certain market indicators suggest the bearish storm may be far from over.
The Bitcoin price has not quite been able to replicate its midweek form over the weekend, hovering around the $68,000 level. Despite the quiet performance in the past day, the premier cryptocurrency has managed to hold its own above $68,000.
An analyst has pointed out how Shiba Inu (SHIB), Solana (SOL), and Cardano (ADA) are among the altcoins seeing a buy signal on this indicator. Shiba Inu, Solana, & Cardano Form Buy Signal Following Market Crash In a new post on X, analyst Ali Martinez has talked about how a Tom Demark (TD) Sequential signal has formed for Shiba Inu, Solana, and Cardano recently.
The Tom Demark (TD) Sequential has given a sell signal for Bitcoin after the asset broke past the $71,000 level in the past day. Bitcoin TD Sequential Is Giving A Sell Signal Right Now As explained by analyst Ali Martinez in a new post on X, a TD Sequential signal has appeared in the 1-hour price of Bitcoin.
Amidst the anticipated positive effect of the recently concluded Bitcoin Halving event, Ali Martinez, a well-known cryptocurrency analyst and trader has issued a noteworthy warning about BTC’s trajectory, predicting that the price of the crypto asset could undergo a correction to the $59,000 mark.
Recent data has revealed the crypto exchange with the highest trading volume of Shiba Inu, indicating an upward trajectory for the digital asset as the volume continues to surge in the crypto exchange.
