Bitcoin has found some stability within the lower-$6,000 region over the past couple of days, with its recent rally to highs of $6,900 resulting in a relatively strong rejection that has called into question the strength of its recent uptrend.
Although BTC has been able to climb significantly from its recent lows within the $3,000 region, it is important to note that many analysts are now noting that the benchmark cryptocurrency appears to be in a precarious position.
One top trader is now noting that Bitcoin is trading just above a make or break level that could determine its fate in the weeks and months ahead.
Bitcoin Struggles to Gain Momentum as Analysts Eye Significant Downside
At the time of writing, Bitcoin is trading down just under 6% at its current price of $6,190, which marks a notable decline from daily highs of $6,900 that were set at the peak of the cryptocurrency’s recent rally.
In the time following this rejection, Bitcoin has entered what appears to be another consolidation phase around its current price levels, as it has struggled to garner any momentum in either direction.
George, a prominent cryptocurrency analyst on Twitter, explained in a recent tweet that he believes BTC is positioned to see significant near-term downside, offering a chart showing a target within the $4,000 region.
“BTC: I trailed stops to $6502 and added on full risk. MS broken, broke below key levels, think we dump more soon. Let’s see,” he noted.
$BTC
I trailed stops to $6502 and added on full risk. MS broken, broke below key levels, think we dump more soon. Let's see. pic.twitter.com/hDSTKRgkJF
— George (@George1Trader) March 21, 2020
BTC Hovering Just Above a “Make or Break” Level
TraderXO – a prominent cryptocurrency analyst on Twitter – explained in a recent tweet he believes the $5,700 to $5,800 region is a critical area for Bitcoin bulls to defend, although he believes that its market structure is still firmly bearish.
“BTC – weekend charts. 57-58 is the make or break level I will be looking out for over the next several days. Various charts shared below. Bias = Bounces are for shorting until proven otherwise,” he explained.
$BTC – weekend charts
57-58 is the make or break level I will be looking out for over the next several days.
Various charts shared below
Bias = Bounces are for shorting until proven otherwise. pic.twitter.com/JDfghdak5f
— TraderXO (@TraderX0X0) March 21, 2020
If bulls are unable to defend this level in the days and weeks ahead, it is possible that a break below it will catalyze an intense selloff that leads it to reel significantly lower.
Featured image from Shutterstock. origin »
Bitcoin remains under the spotlight as Anthony Pompliano, founder and CEO of Professional Capital Management, outlined a bullish long-term vision for the cryptocurrency in a recent CNBC interview. With Bitcoin (BTC) hovering around $85,000, following a recent dip to $76,000,…
Even with Bitcoin’s recent plummet into the low $80k range, the market has displayed an extraordinary recovery, especially concerning the realization of losses at its zenith. The most recent tools for on-chain analytics have been employed to gauge just how much in the way of losses Bitcoin holders have written off during this fresh round [...]
Bitcoin is currently trading at $97,600, following a sharp dip from its all-time high and a modest recovery from the critical $92,000 support level. This recent price movement highlights the market’s ongoing volatility as investors grapple with shifting sentiment and technical levels.
A stock market recovery, investors' anticipation of upcoming US inflation data and risks to the US dollar dominance are fuelling Bitcoin’s recent price gains.
Bitcoin’s recent rally could be setting the stage for a downturn, as several indicators suggest. The recent distribution of BTC from Mt. Gox, coupled with the German government’s large-scale sell-off, initially dampened Bitcoin’s price but led to a temporary recovery.…
Popular Bitcoin critic Peter Schiff dismisses claims of growing institutional interest in the maiden cryptocurrency. Schiff’s challenging statement comes following the recent Bitcoin market sell-off which resulted in a 10% price decline on Friday.
Amidst the recent turbulence in the cryptocurrency markets, Bitcoin has once again proven its resilience, with industry experts advocating for a steadfast approach to weathering the storm. Related Reading: XRP Scores Regulatory Win: European Governance Institute Endorses Non-Security Status Bitcoin’s Rocky Ride Over the past 24 hours, Bitcoin has experienced a notable correction, shedding over […]
Bitcoin has been at the heart of all financial debates in recent weeks now that Bitcoin has soared passed the $60,000 level. But Anthony Scaramucci – founder of SkyBridge Capital is convinced the recent rally may just be a drop in the bucket compared to where the world’s largest cryptocurrency is headed in the long […]
U.S. companies could soon start using Bitcoin as a “legitimate treasury reserve asset”, says Michael Saylor. He’s the Executive Chairman of MicroStrategy Inc. Bitcoin adoption to improve moving forward Bitcoin has been breaking to the upside in recent weeks on the back of optimism that the Securities & Exchange Commission will soon approve a Spot […]
As Bitcoin's price rallies, the crypto community on platform X is torn between selling or holding, while industry leaders forecast a bullish market driven by recent legal triumphs and the prospect of Bitcoin ETFs.
El Salvador’s Bitcoin (BTC) investment faces nearly $20 million in unrealized losses despite the top asset’s recent rally to $35,000, data from Nayibtracker, a platform monitoring the Central American country’s BTC holdings, reveals.
According to a recent tweet by crypto trader Ali, 51% of Binance accounts trading Bitcoin futures currently have open short positions, betting on a price decline. This data comes as the price of Bitcoin approaches $29,000, after the recent surge to $30,000 following the recent fake Bitcoin ETF approval report.
Bitcoin active addresses recently surged to a 5-month high.
BTC's volume has, however, remained the same.
The recent rise in the price of Bitcoin [BTC] has led to an increase in on-chain traThe post How Bitcoin's recent surge affected trading volume appeared first on AMBCrypto.
Spurred by the recent flood of spot Bitcoin ETF applications from Blackrock and Fidelity among others, Bitcoin vaulted impressively up to the $30,000 area where its momentum has stalled in recent sessions.
In the last 24 hours, the collective market value of cryptocurrencies surged by 3. 3%, fueling speculation that the recent submission of regulatory documents to the SEC could enhance Bitcoin’s appeal to investors.
Bitcoin price is trading above $28,000, only roughly $4,000 away from doubling in value since the most recent low. The recent changes in market structure in BTCUSD could indicate a new uptrend is taking form.
Analytic firm Glassnode, in a new report, found that the Bitcoin [BTC] market remains highly volatile. Heavily impacted by the downturn of the broader financial markets, the king coin looks uncertain The post Are Bitcoin short-term holders responsible for recent weakness appeared first on AMBCrypto.
In what appears to be a direct refutation to the widely held theories of most bullish Bitcoin proponents, Wall Street thinks Bitcoin is more likely to plummet to $10,000 first before a surge to $30,000 can be considered – according to a recent survey.
MicroStrategy chief Michael Saylor, despite recent criticisms, in a CNBC interview on Wednesday, says that now is a good time to purchase Bitcoin. During the recent interview, the billionaire noted that Bitcoin’s average price, considering the 4-year simple moving average, sits around $21,685.
Bitcoin price has continued its descent after breaching an extremely bearish continuation pattern. The recent sell-off seems to be happening after the FOMC meeting and suggests that is mainly driven bThe post Bitcoin: How BTC's recent crash has aggravated its chances of touching $20k appeared first on AMBCrypto.
Bitcoin’s entry in the new year is a much-anticipated event and has often left the market surprised. This time, however, the top asset made no major moves. The short-term bearish trajectory persisteThe post Bitcoin: Can the first green candle of 2022 reverse recent losses appeared first on AMBCrypto.
The creator of the Bitcoin stock-to-flow model PlanB has stirred market excitement with his recent revelation about the price of Bitcoin. The analyst has in a very recent Tweet revealed that Bitcoin should meet the $100,000 price expectation by December of this year.
Bitcoin's recent fall in mining hash rate was one of its sharpest declines since its inception, with the same being discussed in a recent article. While the king coin has noted constant selling pressuThe post When can Bitcoin reclaim $41,000? appeared first on AMBCrypto.
The Grayscale Bitcoin Trust (GBTC) has announced its intentions to eventually become an ETF, stating: “In recent months there’s been a growing number of questions around the possibility of a...
The folks over at Deribit apparently think the recent explosion in the price of bitcoin (BTC) from $20,000 to around $32,000 in just over a month, including a 10% rise in the last 24 hours, merits offering traders the ability to bet on a rally to $200,000 by late December. Read also: Bitcoin Worth $1B […]
Bitcoin has given a powerful buy signal that demanded the financial world begin paying closer attention to cryptocurrencies. The recent momentum has also caused the top crypto asset to “decouple” from the stock market.
The most recent Bitcoin rally was good, even though we did not hit $16,000 or go beyond it. This was a much-needed pump after the much-anticipated Bitcoin halving and the Black Thursday crash back in The post Who was really driving Bitcoin's recent rally? appeared first on AMBCrypto.
Bitcoin has been caught in a steady uptrend in recent weeks that has allowed it to sever its correlation to traditional financial markets. In fact, at just below $13,100, the flagship cryptocurrency posted its second-highest weekly close since early 2018 on Sunday.
Bitcoin’s price has been largely stagnant over the past couple of days, with its recent uptrend stopping short of leading the cryptocurrency up to highs of $11,000 BTC has been able to maintain the bulk of its recent gains despite the selloff seen yesterday afternoon This selloff caused it to wick as low as $10,500 on some exchanges, but the decline was fleeting and followed by a strong rebound Although Bitcoin has been consolidating ever […]
There’s been what some analysts call an “altseason” over recent weeks as Bitcoin has stalled. Due to the outperformance of altcoins against BTC, the Bitcoin dominance metric has dropped by a handful of percentage points over recent weeks.
Bitcoin’s status as a “safe haven asset” has grown in recent times due to its performance against a backdrop of global uncertainty This narrative has also been bolstered by the massive amounts of money printing and inflation seen throughout the globe The recent halving event shined a spotlight on Bitcoin’s deflationary structure and fixed supply All these factors appear to have built up the public’s trust in the benchmark cryptocurrency New data shows that the […]
It’s been a tough past few days for Bitcoin. The cryptocurrency has slipped approximately 10% from the $10,100 monthly highs to a recent low of $8,800, triggered by fears that Satoshi Nakamoto is dumping his BTC.
The financial ecosystem has become as delicate as a house of cards and the same can be said of the crypto-sphere. Bitcoin's recent crash seemed to highlight that fact. The meltdown, panic, and feaThe post Bitcoin's recent collapse highlights need for robust risk management mechanisms appeared first on AMBCrypto.
Bitcoin has found itself caught within the throes of a prolonged bout of sideways trading around $9,600 in the time following its recent flash crash that sent it reeling down from the $10,000 region to lows of $9,200.
Following the recent bout of turbulence experienced by Bitcoin and the aggregated crypto markets, BTC has been caught within a firm and tight trading range that has led it to consolidate for the past several days.
Bitcoin has once again found support around $8,200 after the upwards momentum it garnered from its recent dip into the $7,000 region faltered. It is important to note that BTC’s recent price action is quite similar to that seen a couple of weeks ago, which likely points to the fact that it is currently caught.
The last 24 hours have seen a diabolical movement in Bitcoin prices. In what has been one of the worst crashes in recent weeks, Bitcoin has fallen to a bottom of $9k. This marked a more than 16% pullback from the last seven days.
Despite the recent fall of Bitcoin, experts have not yet abandoned their bullish sentiment. In fact, it seems that current events have only served to reinforce this perception. While it is true that bitcoin experienced a sharp drop, breaking essential supports for swing and day traders, in a long term vision it is possible that […]
The post Bitcoin Still ‘Wildly Bullish’ Despite Sharp Recent Retreat, Experts Say appeared first on CCN Markets
Bitcoin Cash’s major proponent, Roger Ver, spoke about recent developments and adoption drives in the crypto-ecosystem, in a recent interview with Robert Beadles. Ver spoke about BitPay, which has been going head first into crypto-adoptions after enabling cryptocurrency payments in a myriad of sections, including, jewelry, entertainment, gaming, fashion, charities etc.
Mawari, a player in AI-driven immersive 3D communication and entertainment, has unveiled its Decentralized Infrastructure Offering (DIO), a major step in scaling its distributed network to meet surging global demand for real-time, AI-powered 3D content.
Ai16z price has experienced a significant surge, breaking out above a key resistance level. With a current price of $0. 1911, up 31. 6% in the last 24 hours, Ai16z is showing strong bullish momentum supported by a surge in trading volume.
iExec, the platform serving as the trust layer for DePIN and AI, has launched a 1 million $RLC ecosystem fund to support Web3 projects across emerging sectors. The fund will deploy both dilutive and non-dilutive capital to back teams building novel decentralized solutions, particularly in areas involving AI, data privacy, and decentralized physical infrastructure networks […]
Bitcoin gained 12% in two weeks to April 22, showing resilience amid US-China tariffs. Observers note Bitcoin decoupling from stocks, behaving more like gold (safe haven). US plans for a Strategic Bitcoin Reserve potentially bolster its asset status (Nansen CEO).
Kaspa (KAS) price rose sharply as Bitcoin traded to above $88k The 13% jump for KAS puts it among the top gainers today. Kaspa price could target $0.2 in the short term. Kaspa (KAS), a proof-of-work cryptocurrency leveraging the innovative GHOSTDAG protocol, has surged 13% in the last 24 hours, making it the top gainer […]
The post Kaspa (KAS) price jumps 13% to lead top gainers today appeared first on CoinJournal.
Deutsche Bank analyst Marion Laboure agrees that crypto assets face several challenges in the near-term. However, the likes of Bitcoin and Ethereum will eventually recover to their previous highs as both remain market favourites despite recent volatility, she added in a recent CNBC interview.
NodeOps, the decentralized infrastructure platform, has officially launched its Staking Hub — a feature designed to simplify participation in Proof-of-Stake (PoS) ecosystems and streamline reward generation for users.
