Bitcoin saw some notable volatility earlier today that led the cryptocurrency to rally up towards $7,700 before facing yet another dire rejection at this level. This has placed BTC firmly back into a tight trading range and has led analysts to anticipate further downside.
One trader is noting that the cryptocurrency could be well positioned to “nuke” lower in the near-term, with this potential decline being sparked by a rejection at $8,000.
This comes as a historically accurate technical indicator also signals that the cryptocurrency is well-positioned to make a massive movement in the near-term.
Bitcoin Faces Another Rejection at $7,700 as Volatility Looms on the Horizon
At the time of writing, Bitcoin is trading sideways at its current price of $7,600.
This marks a notable decline from daily highs of over $7,700 that were set earlier this morning when the cryptocurrency’s bulls attempted to navigate through the heavy resistance that laces the upper-$7,000 region.
Today’s rejection marks the third one that Bitcoin has seen within this price region, indicating that the scales are tipped in bears’ favor and that this latest uptrend may be losing its steam.
If the crypto posts another rejection at this level, the results could be dire, potentially catalyzing a major selloff that leads it lower.
The explosivity of this potential movement is likely to be quite significant, as BTC’s Bollinger Bands are starting to pinch on its 4-hour chart – a sign that a big movement is imminent.
One popular pseudonymous analyst on Twitter spoke about this technical occurrence in a recent tweet, while referencing a chart showing the bands tightening.
“BTC – Bulls have the edge as 4-hour BBs start to pinch,” he noted.
Image Courtesy of Big Cheds
BTC Poised to “Nuke” Towards $7,000 as Weakness Grows
As for how this volatility may impact Bitcoin, another analyst noted that he anticipates the cryptocurrency to push up towards $8,000 before facing a dire rejection here that leads it to “nuke” down towards $7,000.
He mused this possibility in a recent tweet, explaining that he is adding to his long in anticipation of BTC hitting $8,000, with the rejection here sparking a notable decline.
“BTC – Nothing has changed. Will most likely be adding to my long tomorrow. This nuke gonna be juicy,” he noted while pointing to the path forward labeled on the below chart.
Image Courtesy of Mac
This violent decline will also likely trigger a major selloff across the aggregated crypto market.
Featured image from Unsplash. origin »
Social media seems on the brink of a transformation. Major platforms began integrating with digital assets in the form of NFTs and crypto payments. Twitter, formerly led by Bitcoin bull Jack Dorsey, appears ahead of a race that for many started years ago.
Following a brief selloff that led Bitcoin down to lows of $5,800 overnight, the crypto has been able to post a strong and sustainable rebound that has since led it to climb towards $6,500, with bulls currently attempting to reclaim its previous position within the upper-$6,000 region. It now appears that bulls are in the...
After facing an intense selloff yesterday that led Bitcoin, Ethereum, and virtually all other major altcoins to post some intense losses, the aggregated market has been able to recover slightly today, being led higher by BTC.
The turbulence seen within the cryptocurrency market throughout the past month has led to some fear amongst Bitcoin miners, which is illustrated by data regarding the BTC balance and outflows seen amongst miners over the past thirty days.
The global markets have seen crypto-esque levels of volatility throughout the past several months, with all of the major benchmark stock market indices seeing intense downwards pressure that led them to post recession-level losses in a short multi-week period.
XRP kicked off an intense and unexpected uptrend yesterday, which led the embattled cryptocurrency to rally over 10%, marking a significant outperformance of Bitcoin and the aggregated market. This momentum has not been fleeting thus far – as the crypto is now in the process of posting even further gains as bulls attempt to push...
Ethereum, much like Bitcoin and all other major cryptocurrencies, is currently caught within a bout of range-bound trading that has led it to hover within the mid-$130 region. This lackluster price action may not last long, however, as analysts are now widely noting that the crypto may soon “dive hard” during the next major Bitcoin...
Just two short weeks after Bitcoin price set a record for one of its largest single-day collapses in the asset’s young history, the latest sequence of price action has led to a devastatingly accurate sell signal, that’s preceded some of the asset’s most dangerous drops.
Bitcoin has once again found itself caught within a bout of sideways trading within the upper-$6,000 region, which comes close on the heels of its recent upwards movement that led it to highs of $6,900 yesterday.
Ethereum has been closely tracking Bitcoin’s price action over the past day, which has led it to once again enter a consolidatory phase within the mid-$130 region. This bout of sideways trading closely follows the crypto’s recent rally that sent it surging towards its key resistance at $140.
The recent volatility within the cryptocurrency markets has led a significant amount of Bitcoin to change hands, with massive selling pressure overwhelming buyers and resulting in a capitulatory decline that led it to drop from highs of $10,500 to lows of $3,800.
Bitcoin experienced a severe crash last week alongside the stock market which was responding to the COVID-19 pandemic that has led to record crashes in stock prices. The crash in BTC price suggested its correlation with the stock market although some have argued that this is not the case. The number one cryptocurrency was on […]
The past few weeks have been extremely trying for financial markets across the globe. The COVID-19 pandemic its associated panic has created a domino effect after frenzied sell-offs led to a market crThe post Bitcoin, gold spar over 'safe-haven' status as U.
Ethereum, like Bitcoin and most other major altcoins, has been firmly caught in a consolidation phase over the past few days and weeks, which has led it to stabilize around $130 as bulls and bears both attempt to take control of the cryptocurrency.
Bitcoin's difficulty will drop by 10-13% in the next adjustment. The main reason behind this would be the latest sell-off which contributed to a significant loss for miners. This eventually led to a dThe post Bitcoin's rising wedge could push price to $5,500 after retest of $7,000 appeared first on AMBCrypto.
Coronavirus has led to uncertainty in the global financial markets. All the major indexes have plummeted over the past few weeks as the market crashes in the severity of the Covid-19. In line with the global markets, bitcoin also crashed as investors took a risk-off approach due to global uncertainty. This crash in BTC prices […]
2020 has been a turbulent year for Bitcoin and the aggregated cryptocurrency market, with the benchmark digital asset rallying to highs of $10,500 before facing a massive selloff that led its price to crater to lows of roughly $3,800.
Bitcoin saw a notable rally today following a prolonged bout of sideways trading, which has so far led the cryptocurrency to rally up towards the $6,000 region. This movement has come about as the traditional markets trade sideways, leading analysts to note that BTC is quickly becoming decorrelated. It now appears that the benchmark crypto...
The U. S. stock market rebounded today following yesterday’s unprecedented selloff, with all of the major indices climbing over five percent today. This led Bitcoin and the aggregated crypto market to follow suit, with BTC and most other altcoins posting decent gains over the past 24-hours.
The Bitcoin price movement since reaching an all-time high in December 2017 has led many to dismiss the asset as merely a financial bubble. There have been numerous bubbles throughout financial history.
The global market meltdown has continued today, with the U. S. equities market plummeting as Bitcoin and most major altcoins also post some notable losses. This decline today led Ethereum to lows of $105, which is where it was able to find some support.
Bitcoin has entered a firm bout of sideways trading in the days following its recent meltdown from highs of $8,000 to lows of $3,500. The rebound that occurred in the time following this intense selloff led the crypto into the lower-$5,000 region, which is where it has been trading at ever since. It now appears...
Quarantine measures imposed by states the world over in the wake of the COVID-19 pandemic have led to a surge in screen time use and online shopping among the masses. Interestingly, this has also had a bearing on the use of cryptocurrencies for online shopping leading to “unprecedented growth” for several crypto payment processors.
The continuing spread of coronavirus has seen many people prefer to stay indoors leading to a massive disruption of the traditional economy, this has led to a boon for some digital sectors. In the recent past, increased state-enforced quarantines as well as moves to social distancing and many firms coming up with policies to enhance […]
Bitcoin price tumble has led the value of the entire cryptocurrency market to collapse. Nevertheless, fears that a bear market will continue may be short-sighted. A chart is now circulating that reveals a remarkable correlation between the price trends today and the years leading up to the previous block reward halving.
Bitcoin has fallen to extreme lows this week, alongside the stock market. Fears over the coronavirus and a looming recession on the horizon have led to the year’s worst selloff. However, this morning, a relief rally appeared to be in sight for bulls, however, shortly after Bitcoin breached back above $8,000, it was swiftly swatted...
Bitcoin (BTC) has been subjected to an unrelenting downtrend over the past few weeks, which has occurred in tandem with the selloffs seen by more traditional asset classes. This has led the digital asset to erase the bulk of its 2020 gains, and potentially invalidate the bullish market structure resulting from this recent uptrend.
The crypto market has been caught within an intense bout of volatility over the past several days and weeks, which has been led by Bitcoin’s capitulatory decline from recent highs of $10,500 to lows of $7,700 that were set today.
The world is facing a financial crisis as markets continue to crash. World governments led by the U. S are using every financial tool at their disposal to try and mitigate the downfall. Through the FED, the U.
Litecoin's price has promptly followed Bitcoin. This has led the coin to go from $63 to $58 in a couple of hours. Like Bitcoin's longs, Litecoin longs [27. 5 LTC] have been liquidated due to this.
Bitcoin’s selloff seen yesterday reached a boiling point this morning, as the cryptocurrency has now begun its descent towards the $7,000 region. This decline has led BTC to plummet below $8,300 in a brief movement, leading analysts to widely eye further downside.
A walkout at a US publishing house has led to the mass pulping of film director Woody Allen’s upcoming memoir. The walkout followed 11protests from Allen’s son, Ronan Farrow, who is published by the same company.
Ethereum (ETH) has seen some notable gains today that have led the cryptocurrency to climb towards the $240 region, with this latest upsurge coming about as Bitcoin begins finding some stability within the lower-$9,000 region.
Bitcoin’s turbulent price action seen throughout 2020 has primarily favored bears over the past week, with the cryptocurrency’s recent rejection at $10,000 sparking an intense downtrend that led it as low as $8,400.
Following its ‘near collapse’, the firm had declared insolvency but promised to reimburse users their funds. FCoin’s community has since established a representative led ‘interim committee’ set to take over FMex and FCoin websites from the firm’s existing team.
The addition of the Futures market for cryptocurrencies has allowed many investors on the sidelines to jump into the field. Perhaps, the first perpetual contract by BitMEX started it all. Now, as of 2The post Bitcoin's fork coin led the Futures market on Binance for January appeared first on AMBCrypto.
The global markets have been caught within extreme turmoil over the past several days, with the rapid spread of the Coronavirus striking fear into the heart of investors. This has led the Dow Jones to plummet, with the decline of traditional markets also coming alongside a strong Bitcoin correction.
It has been a rocky few days for the crypto markets, with Bitcoin, Ethereum (ETH) and most major altcoins incurring intense selloffs that have led them to erase a significant amount of the gains they incurred throughout the past couple of months.
Bitcoin has seen some bear-favoring turbulence over the past week, with its recent break below $10,000 sparking a bout of capitulation that led it to lows of $9,200, from which point it has struggled to garner any sustainable upwards momentum.
Prior to yesterday’s Bitcoin flash crash, XRP and many other major cryptos were shaping up to be highly bullish, but BTC’s sharp drop seems to have invalidated this and has led the aggregated crypto market into precarious territory.
Bitcoin futures markets have been exceptionally active lately. Yesterday, the daily volume for the CME Bitcoin futures market topped $1 billion for the third time ever. The demand in the Bitcoin futures market has been exploding as of late — led by optimism about the leading cryptocurrency’s prospects for 2020.
Bitcoin investors were taken aback to witness Bitcoin’s massive flash crash today, which led the benchmark cryptocurrency to plummet from $10,200 to lows of $9,200 in a mere matter of minutes, with its sudden downturn leading the aggregated crypto market to follow suit.
Bitcoin (BTC) has led the crypto markets to see some intense bearishness over the past couple of days, with its recent drop below $10,000 leading many of the altcoins that were previously caught within intense uptrends to see sizeable retraces.
Bitcoin saw a notable selloff this morning that sent it reeling below its key support at $10,000, which instantly led major altcoins like Ethereum to similarly see major pullbacks. In the case of ETH, this...
Frustrated by a poor web wallet experience that led to his losing $1,000 worth of Bitcoin at a time when the currency hovered around $10, BRD Co-Founder Aaron Voisine set out to build a digital wallet that would be so safe and easy-to-use that even his grandmother could use it to tap into digital assets.
Bitcoin saw a massive movement today that led the cryptocurrency to reclaim its position within the coveted five-figure price region, with the latest rally allowing BTC to set fresh 2020 highs at $10,400.
Bitcoin mining is now a highly competitive industry that’s not just expensive but technology-intensive as well. Individuals interested in joining the growing mining industry must invest in a specialized computer system, steady internet, reliable energy supply, and a good amount of skill to manage the process.
Bitcoin (BTC) is under significant pressure after experiencing a substantial 14% retrace from $65,103 to $55,602. This downturn is occurring amidst a climate of fear and uncertainty impacting both the cryptocurrency and US stock markets.
Data shows the Bitcoin diamond hands have continued to sit tight recently as almost a third of the supply hasn’t been moved in five years. Bitcoin Has A Notable Part Of Its Supply Dormant Since Over Five Years In a new post on X, the market intelligence platform IntoTheBlock has discussed about how the most […]
Data shows the Bitcoin Open Interest on exchanges has been heading up while the Funding Rate has turned negative recently. Bitcoin Open Interest Trend Suggests Speculators Are Back As pointed out by CryptoQuant community manager Maartunn in a new post on X, things appear to be heating up on the derivatives side of the market.
On-chain data shows the Bitcoin mining difficulty has seen an increase in the latest adjustment, a consequence of the hashrate’s recovery. Bitcoin Mining Difficulty Has Seen A Positive 3% Adjustment Recently The “mining difficulty” refers to a feature built into the Bitcoin blockchain that controls how hard the miners would find it to mine on […]
Data shows that Bitcoin investors have again assumed a sentiment of greed after BTC’s surge of $64,000. Here’s what this could mean. Bitcoin Fear & Greed Index Is Now Pointing At ‘Greed’ The “Fear & Greed Index” is an indicator created by Alternative that tells us about the sentiment currently present among the investors of […]
An analyst has revealed the Bitcoin price zones that could act as major support and resistance centers for the cryptocurrency. A Large Number Of Investors Bought Bitcoin Inside These Zones In a new post on X, CryptoQuant author IT Tech has discussed the Bitcoin price levels that could act as support and resistance for BTC.