Bitcoin’s bulls and bears appear to be locked within an intense battle for control over the cryptocurrency
Bears have been gaining the upper hand over the past few weeks, as the crypto has been consistently trending downwards despite being caught within a multi-week consolidation phase
Presently, BTC is trading just above a crucial support level that appears to be growing weaker due to it being tested on multiple occasions over the past few days
As the benchmark cryptocurrency’s monthly close fast approaches, there are a few macro factors that suggest bears may soon have full control over it
Bitcoin and the aggregated crypto market have not been able to garner any decisive momentum despite the turbulence seen last week.
One trend that does appear to be favoring sellers is the consistent lower highs it has been setting over the past few weeks.
It first started ranging at $9,700, then hovered around $9,400, and is now trading just above its range lows at $9,000.
There are a few other trends that could determine the cryptocurrency’s macro outlook, and they all heavily favor sellers. This comes as Bitcoin’s monthly candle close looms in the coming few hours.
Bitcoin Consolidates at $9,100 Following Last Week’s Volatility
At the time of writing, Bitcoin is trading down marginally at its current price of $9,140. This is around the price level at which it has been trading over the past couple of days.
Yesterday, the crypto did attempt to climb higher but was met with insurmountable resistance within the $9,200 region.
Last week’s volatility – which sent Bitcoin to highs of $9,800 before it reeled to lows of $8,900 – did little to provide clarity into the cryptocurrency’s short-term trend.
That being said, it did work to confirm a bear-favoring “death cross” pattern that tends to flash before Bitcoin makes sharp downside movements.
One analyst spoke about this occurrence in a recent tweet, noting that it has made the crypto appear to be weak while looking towards its 4-hour chart.
Image Courtesy of Teddy. Chart via TradingView
This could cause Bitcoin to end its June candle on a low note, potentially giving rise to a downtrend throughout July.
BTC’s Rejections at $10,000 Spell Macro Trouble, Claims Analyst
In addition to forming a “death cross” heading into its monthly candle close, one analyst is also noting that the consecutive rejections posted at $10,000 over the past several weeks seems to spell trouble for what comes next.
This has led him to suspect that a test of $8,600 is imminent, with its reaction to this level providing crucial insights into Bitcoin’s mid-term trend.
“BTC HTF Update: Rejected $10,000 for the second time this year and it seems as though HTF momentum is starting to slow, expecting price just to range here for a while, which is fine as long as buyers continue to support RL… Thinking a retest of RL at $8600 region is likely,” he said.
Image Courtesy of Cactus. Chart via TradingView.
Featured image from Shutterstock.
Charts from TradingView. origin »
Bitcoin has been facing some intense weakness over the past couple of days The benchmark digital asset’s buyers and sellers have been locked within an intense battle around $9,000, with bears ardently attempting to hold it below this crucial support Although this doesn’t bode well for its near-term outlook, its macro outlook remains strong One fundamental metric just reached levels not seen since just before the intense 2017 rally up to $20,000 If history rhymes, […]
The price of bitcoin has continued to consolidate within the mid-$9,000 level as the bulls and bears fail to stage a decisive move. This has muddled the clarity that some traders had regarding BTC’s short-term price as indicators imply varying trends for the king crypto.
Ethereum, like Bitcoin, has been caught within a long-held bout of sideways trading over the past week This consolidation has made it increasingly unclear as to which direction it will trend next It has largely come about as a result of the lackluster price action seen by Bitcoin in recent times Analysts do believe that ETH could be poised to see some notable downside if it is unable to push higher in the days and […]
Bitcoin saw a notable overnight upswing that allowed it to firmly gain a position within the mid-$9,000 region This movement caught some bears off guard, and marked an extension of the momentum that it first incurred when it bounced from $8,800 yesterday It now appears that BTC is primed to rally even higher in the near-term, with some analysts targeting a move to $10,000 as the crypto flashes signs of strength Bitcoin is currently caught […]
After a bearish day yesterday, Bitcoin has continued with this negative trend today as well and bears managed to break the $9,326 support. Bitcoin experienced a 3% crash within one-hour dipping below $9,000 briefly.
• Litecoin makes a comeback but faces rejection at $47 resistance.• The crypto slips beneath 50-EMA as bears took to gain market momentum within the range. LTC/USD Medium-term Trend: Ranging Key levels• Resistance levels : $70, $80, $90• Support levels: $20, $10, $9Litecoin remains in a range-bound market in its medium-term outlook. The bulls manage […]
DASH/USD Medium-term Trend: Ranging • The Medium-term and the short-term outlook continues in a range-bound market.• The bears remained in control of the market within the range Key levels • Resistance levels : $140, $150, $160• Support levels: $35, $25, $15 DASHUSD remains in a range-bound market in its medium-term outlook. The bears retain the […]
Bitcoin has entered what appears to be a consolidation phase as its bulls and bears reach an impasse This has led the benchmark crypto to trade sideways within the upper-$8,000 region for an extended period of time Analysts are noting that there are some bullish factors that seem to suggest the recent rally is far from over, and that BTC could soon make a bid at $11,000 Bitcoin has seen some highly bullish price action […]
Bitcoin’s overnight upswing allowed the crypto to gain what appears to be a firm foothold within the $8,000 region This movement came about shortly after the extended period of sideways trading that it faced throughout the past several days It also liquidated millions of dollars in short-positions, leading BTC’s open interest to dive as bears go into hiding Bitcoin’s notable overnight rally has marked a major extension of the uptrend that was first sparked when […]
Bitcoin’s bulls and bears have reached an impasse as the cryptocurrency enters a consolidation phase within the upper-$6,000 region. This lackluster bout of sideways trading comes shortly after the crypto faced multiple firm rejections in the lower-$7,000 region.
Following Bitcoin’s recent rejection at $7,300, the benchmark cryptocurrency has once again established another bout of sideways trading within the upper-$6,000 region, with bulls and bears reaching an impasse as its near-term trend grows increasingly unclear.
After an extended bout of sideways trading within the upper-$6,000 region, Bitcoin’s bears finally gained the upper-hand over bulls, leading the benchmark cryptocurrency to plunge to its support within the lower-$6,000 region.
Following a bout of unprecedented volatility seen earlier this week, Bitcoin has found itself caught in limbo, with its bulls and bears reaching an impasse as the crypto hovers within the lower-$5,000 region.
Bitcoin has been caught within the throes of intense turbulence over the past day, with the cryptocurrency incurring a violent selloff yesterday that sent it reeling from $10,200 to lows of $9,200. In the time since this capitulatory drop, Bitcoin has been able to climb higher, and its early-morning volatility seems to suggest that bulls and bears are currently engaged in an intense battle for control over the cryptocurrency.
Bitcoin’s recent bullishness has been thwarted by bears who have attempted to push the cryptocurrency back down to its support within the lower-$7,000 region, and it is imperative for bulls to support BTC above this region if they want to further extend their upwards momentum.
As we draw near the end of 2019, the events surrounding Bitcoin on a weekly basis are growing increasingly important, as how BTC trades within the next couple of weeks could set the tone for where it trends in the first part of the new year.
Bitcoin has had a crazy day, with the bloody battle between bulls and bears resulting in a chair-shaped pattern, with BTC surging from its key support level within the lower-$7,000 to highs of $7,800 before fully retracing back to its support levels.
Ethereum has been stuck below its near-term resistance level at $190 for the past several weeks, and both ETH’s bulls and bears have been deadlocked as they hold the cryptocurrency steady within the mid-$180 region.
After a long period of consolidation within its previously established trading range, Bitcoin’s bears have now taken control and have pushed BTC’s price below its previous support level that existed around $9,000.
The recent Bitcoin rally that practically pulled the asset back from the jaws of market bears has left analysts and traders scratching their heads for an answer. Nobody knows exactly what sparked the upward momentum that saw BTC jumping 42% from $7.
Wow. In the past 30 minutes, Bitcoin (BTC) bulls have absolutely made their presence known. Within a ten-minute time frame, the leading cryptocurrency surged from $7,700 to $8,500 — representing a nearly 10% gain.
On Wednesday morning, Bitcoin bears finally managed to get the upper hand over bulls. For those who missed the memo, the leading cryptocurrency’s price fell by 8% or so within a few hours’ time, falling from above $8,100 to as low as $7,400 in a dramatic blow to bulls.
XRP has been recording a sharp rise in its price after being beaten by the bears in the beginning of 2019. The third-largest coin’s price has pushed itself to $0. 2904, after being restricted within the $0.
Bears are back. After a multi-month long consolidation period, Bitcoin (BTC) finally broke down earlier this week, quickly losing all semblance of a bull trend in a spectacular fashion. For those who missed the memo, within a few hours’ time, the leading cryptocurrency had fallen from five digits — $10,000 — to $8,000, losing the.
Bitcoin has found some stability within the mid-$10,000 region over the past couple of days after incurring significant volatility earlier this week. This stability marks a bout of consolidation that comes shortly after BTC’s massive surge from the lower-$9,000 region to highs of roughly $10,800, which is where it faced some levels of resistance.
Yikes. Bitcoin (BTC) hasn’t been doing too well as of late. But altcoins, unfortunately, have been doing worse. Related Reading: Bitcoin Plunge Through $9,600 Liquidates $144 Million in BitMEX Longs On Wednesday morning, the victors of the latest tug-of-war between bulls and bears were decided.
The victors of the latest tussle between bulls and bears have been decided. In the past hour, the Bitcoin (BTC) price has plunged, with the cryptocurrency losing key support at $10,000 and $9,800 within a few minutes’ time.
Bitcoin Price levels have dropped $2,000 within the last 48 hours as bears begin to shake the current bullish market sentiment. Continuation of the pull-back to key support around $8,800 is likely over the coming days.
• The short and the medium-term outlook is in a range-bound market. • Patience is required in trading the consolidation. ZIL/USD Medium-term Trend: Ranging Supply zone: $0. 02500, $0. 02600, $0. 027000 Demand zone: $0.
The bears sustained momentum in the long-term outlook. $0. 02500 in the demand area is on the card. IOTA/USD Long-term Trend -Bearish Supply zone: $0. 6000, $0. 7000, $0. 8000 Demand zone: $0. 1000 $0.
OmiseGo has a bearish short-term, with the cryptocurrency still trading below its 200-period moving average on the four-hour time frame The four-hour time frame shows that the OMG / USD pair is trapped within a triangle pattern The daily time frame time highlights that bears have invalidated a large bullish pattern Fundamental Analysis OMG has […]
The post OmiseGo Price Analysis OMG / USD: Nomura To The Rescue appeared first on Crypto Briefing.
• The bears are in control of the long-term outlook. • Traders may consider selling after pullbacks with bearish candle reversal pattern as confirmation TRX/USD Long-term Trend: Bearish Supply zone: $0.
Over the last 4 days, Bitcoin price has been consolidating within a $1,000 range clearly forming an asymmetrical triangle. Price action is squeezing, resulting in the range becoming tighter as market price nears the end of the triangle.
WAVES/USD market moved visibly within a range while none of the trading sides overpowered each other around $2. 50 price territory of the market. Indication still shows that the bears may find a stance in the WAVES/USD market near around the SMAs' trend-lines.
Ethereum has seen a brief correction towards the current uptrend parabola. Analysis suggests this trend has not broken yet, and could accommodate for further upwards momentum as we progress towards the month of July.
The short-term is in a bullish trend while the medium-term outlook is in a range-bound market. Responsible buying may be considered. RVN/USD Medium-term Trend: Ranging Supply zone: $0. 07000, $0. 08000, $0.
Coinspeaker XRP Price Analysis: XRP/USD Ranging Within $0. 42-$0. 46 Level, Expecting a BreakoutThere is a tendency for XRP price to increase towards $0. 49 supply level provided the Bulls gain enough momentum to break up the $0.
Coinspeaker Ethereum Price Analysis: ETH/USD Price Ranges Within $258-$227 Levels, Expecting a BreakoutThe bullish breakout at $227 supply zone is envisaged should the Bulls gain enough pressure and Ethereum price may rally to the previous level of $289.
Coinspeaker Bitcoin Price Analysis: BTC/USD Price Ranging Within $8,879-$9,398 Levels, Awaiting a BreakoutBitcoin price breakout at the resistance level of $9,398 by the Bulls will expose the $10,016 resistance level which may be its target.
The medium-term outlook is in a range-bound market while the bears are in control of the short-term. Responsible selling may be considered. BCH/USD Medium-term Trend: Ranging Supply zones: $500, $600, $700 Demand zones: $100, $50, $30 BCHUSD outlook in the medium-term remains in a range-bound market. The bulls took control of the market within the […]
Coinspeaker Bitcoin Price Analysis: BTC/USD Price Is Retesting the $8,879 Level to Continue Bullish TrendAfter the retracement, in case the Bulls gain more pressure to break up the resistance level of $9,398, Bitcoin price may target $1,016.
• The short-term and the medium-term outlook is in the uptrend. • Traders may consider buying at pullback areas with bullish reversal candlesticks. ZIL/USD Medium-term Trend: Bullish Supply zone: $0.
The bears are currently in control of the market within the range. Traders may consider selling with bearish candle reversal pattern as confirmation as consolidation persist. ADA/USD Long-term Trend –Ranging Supply zone: $0.
Coinspeaker Ethereum Price Analysis: ETH/USD Price Approaches Potential Reversal Zone of $289It seems that the Bulls are gathering momentum to break up Ethereum's supply zone at $289.
The long-term outlook is in a bullish trend. $0. 03319 in the supply area may be retested. TRX/USD Long-term Trend: Bullish Supply zone: $0. 0400, $0. 05000, $0. 0600 Demand zone: $0. 01000, $0. 00800, $0.
The bears remained in control of the long-term outlook. Traders may consider selling within the range as the journey down south continues. ADA/USD Long-term Trend –Ranging Supply zone: $0. 1200, $0.
Coinspeaker Ethereum Price Analysis: ETH/USD Consolidates within $242 and $258 Levels, Awaiting a BreakoutThe breakout of Ethereum price from the triangle is imminent. Should the Bears exert more pressure, there will be a breakout at the $242 demand level with ETH targeting $227 level.
Bitcoin (BTC) bears slow down In 20-30 years Bitcoin will be money says a BoE Chief Economist Andrew G. Haldane, the Chief Economist of the Bank of England, believes Bitcoin will be money in the next two to three decades.
As Bitcoin breaks significant resistance at $6,000 and $8,000, all within the space of a week, interest is reaching fever point. But despite the strong performance, which some say is buoyed by economic uncertainty over the US-China trade war, there are those among us who remain skeptical.
Bitcoin price is consolidating above the $95,000 support zone. BTC must settle above the $100,000 level to start a fresh increase in the near term. Bitcoin started a fresh increase from the $94,200 zone.
Bitcoin price started a fresh upward move above $100,000. BTC is facing resistance at $103,000 and might aim for an upside break. Bitcoin started a decent upward move above the $100,000 zone. The price is trading below $103,200 and the 100 hourly Simple moving average.
Bitcoin price settled above the $100,500 resistance zone. BTC is consolidating gains and might aim for a fresh increase above the $105,000 zone. Bitcoin started a downside correction from the $106,800 zone.
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.
