Bitcoin failed to continue above the $9,200 resistance and it is down more than 4% against the US Dollar. BTC is now trading in a bearish zone and it could slide further below $8,700.
After forming a short term top near $9,211, bitcoin price declined sharply below $8,880.
The price is now trading well below $9,000 and the 100 simple moving average (4-hours).
There is a crucial bearish trend line forming with resistance near $9,122 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).
The pair is likely to extend its decline below the $8,700 and $8,600 levels in the near term.
Bitcoin Turns Bearish Again
This past week, bitcoin started a steady rise above the $8,700 and $8,880 resistance levels against the US Dollar. BTC price gained traction and it even managed to climb above the key $9,000 resistance.
However, the bulls faced a strong resistance near the $9,200 area and the 100 simple moving average (4-hours). There is also a crucial bearish trend line forming with resistance near $9,122 on the 4-hours chart of the BTC/USD pair.
Bitcoin Price
It seems like bitcoin failed to clear the trend line, $9,200, and the 100 SMA. As a result, there was a sharp decline below the $9,000 support level. The price is down around 4% and it even declined below the 50% Fib retracement level of the upward move from the $8,402 low to $9,212 high.
It is now trading below the $8,800 level and testing the 61.8% Fib retracement level of the upward move from the $8,402 low to $9,212 high.
If the bulls fail to protect the $8,700 support level, there is a risk of another decline. An initial support is near the $8,600 level, below which there is a risk of a drop towards the $8,400 support area.
Upside Correction
If the $8,700 support remains intact, bitcoin price might correct higher above $8,800. An initial resistance on the upside is near the $8,950 level, above which the bulls could aim a break above the trend line.
If there is a clear break above the trend line and the $9,200 resistance, the price might start a strong rally towards the $9,500 and $9,800 levels in the near term. Overall, the trend is now negative and the price might slide further towards $8,400.
Technical indicators
4 hours MACD – The MACD for BTC/USD is now gaining pace in the bearish zone.
4 hours RSI (Relative Strength Index) – The RSI for BTC/USD is now well below the 50 level.
Major Support Level – $8,800
Major Resistance Level – $9,200 origin »
Bitcoin (BTC) is currently under pressure from macro risks and any retracement below $90,000 presents a “medium-term” buying opportunity, according to Standard Chartered head of digital assets research Geoffrey Kendrick.
Bitcoin’s drop to below $50,000 on Aug. 5 marked the largest drawdown in the current cycle, resulting in substantial profit losses and liquidations. And while BTC has shown solid signs of recovery since then, consolidating around $60,000, the market still remains cautious as it recently dipped below this psychological support.
The rising leverage ratio and Open Interest might be holding Bitcoin back.
The pitchfork and 200 DMA support failure pointed to a price drop below $60k.
Update - Within hours of publication,The post Will Bitcoin fall below $50K again? Assessing where BTC's bottom is appeared first on AMBCrypto.
Bitcoin has remained below the $60,000 price range.
Accumulation has increased after months of distribution.
Bitcoin [BTC] has been persistently trading below the $60,000 mark, and recent daThe post Bitcoin below $60K: A magnet for major market players? appeared first on AMBCrypto.
As Bitcoin plunged below the $57,000 mark, concerns surged among investors about potential market volatility and its impact on miners. On Thursday morning, speculators continued their selling pressure, forcing Bitcoin (BTC) to dip below $57,000 for the first time since…
Bitcoin’s drop below $59,000 highlights heavy selling, with QCP analysts seeing miner capitulation as a potential sign of a market bottom. Bitcoin (BTC) is facing yet another day of intense selling pressure, dropping below the crucial $60,000 support level and…
In a turbulent 24-hour trading session, the cryptocurrency market saw nearly $200 million wiped out in liquidations as Bitcoin price dropped below $61,000. This sharp decline triggered a wave of liquidations, affecting many investors and traders.
The new week has been quite bearish for bitcoin, with the price witnessing major crashes below multiple support levels. After losing its footing above $71,000, it has plunged further below $67,000, signaling the start of a downtrend.
Bitcoin price took a hit and even spiked below $60,000. BTC could gain bearish momentum if there is a daily close below the $60,000 support zone. Bitcoin started another decline and traded below the $61,200 zone.
Bitcoin price is sliding and trading below $27,000. BTC is still at risk of more downsides below the $26,500 and $26,200 support levels. Bitcoin is moving lower and showing bearish signs below $27,000.
Bitcoin price is still struggling below the $29,650 zone. BTC could gain bearish momentum if there is a close below the $29,100 support. Bitcoin is showing a few bearish signs below the $29,650 zone.
Bitcoin price is moving lower from the $29,500 zone. BTC is showing bearish signs and might decline further below the $29,000 support zone. Bitcoin is gaining bearish momentum below the $29,500 support.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion
BCH failed to reclaim the $300 psychologicaThe post What next as Bitcoin Cash drops below $300? appeared first on AMBCrypto.
Bitcoin price is moving lower below the $30,500 pivot level. BTC could decline heavily if there is a close below the $29,800 support zone in the near term. Bitcoin is moving lower below the $30,500 support zone.
After witnessing some recovery in the past week, Bitcoin topped out at resistance and initiated a heavy drop below the previous low. It lost 6% in the dip and has shown no sign of stopping at the moment.
Bitcoin price is down 5% and trading below the $26,000 level. BTC is now at risk of a move toward the $25,000 support in the near term. Bitcoin started a sharp decline below the $27,000 level. The price is trading below $26,500 and the 100 hourly Simple moving average.
Bitcoin price started a fresh decline below the $27,500 support. BTC is now showing a lot of bearish signs below the $27,400 pivot level. Bitcoin started a fresh decline and tumbled below the key $27,500 support zone.
Bitcoin price is moving lower below $28,000. BTC is approaching the $27,000 support, below which there is a risk of an extended decline to $25,500. Bitcoin is moving lower and trading below the $28,200 pivot level.
Bitcoin price is moving lower below $28,000. BTC is approaching the $27,000 support, below which there is a risk of an extended decline to $25,500. Bitcoin is moving lower and trading below the $28,200 pivot level.
Bitcoin price is moving lower and trading below $25,000. BTC remains at a risk of a downside break if it stays below the $25,200 resistance zone. Bitcoin started a downside correction below the $25,500 support zone.
Regulatory crackdowns, selloffs in equities, concerns over higher interest rates, and the proposed tax on electricity used in cryptocurrency mining have contributed to Bitcoin's recent decline below $20,000
Bitcoin price is moving lower below the $22,200 level. BTC could take a hit if there is a close below the $22,000 support zone in the near term. Bitcoin is showing bearish signs below the $22,500 resistance zone.
Bitcoin price is consolidating below the $22,000 resistance. BTC could decline heavily if there is a daily close below the $21,500 support. Bitcoin is showing a few negative signs below the $22,000 resistance.
The Bitcoin price has struggled below $17,000 for multiple weeks now, and it recently dipped below the $16,900 mark. This downward move on the Bitcoin chart could be attributed to the recent Federal Open Market Committee (FOMC) minutes.
Bitcoin price declined further and traded below $16,500. BTC is correcting losses, but it could struggle to climb above the $16,700 and $17,000 resistance levels. Bitcoin extended its decline below the $17,000 and $16,500 support levels.
Bitcoin price declined heavily and traded below $17,000. BTC is consolidating losses and remains at a risk of more losses below the $16,500 support. Bitcoin started a fresh decline below the $17,200 and $17,000 support levels.
Bitcoin price is struggling below the $19,200 support against the US Dollar. BTC remains at a risk of more losses below the $18,500 support in the near term. Bitcoin is showing bearish signs below the $19,200 and $19,500 levels.
Bitcoin price is slowly moving lower below the $19,200 support against the US Dollar. BTC could slide further if there is further escalation in Russia-Ukraine war situation. Bitcoin is slowly moving lower below the $19,200 and $19,000 levels.
Recent on-chain metrics suggest that a Bitcoin (BTC) bottom might be forming, but the chances of the flagship asset dropping below its lowest value are increasing due to weak volume.
The post Research: Persistent low volume could cause Bitcoin price to plummet to $12k if it falls below $17.5k appeared first on CryptoSlate.
Bitcoin settled below the $21,000 support zone against the US Dollar. BTC is showing bearish signs and remains at a risk of a major breakdown below $20,000. Bitcoin struggled to correct higher and stayed below the $21,000 resistance zone.
Bitcoin (BTC) has closed two consecutive bearish weekly candlesticks and has nearly fallen to a new yearly low below $20,000.
The post Bitcoin (BTC) Closes Second Consecutive Bearish Week, Falling Below $20,000 appeared first on BeInCrypto.
Bitcoin has dropped below the $22k support level after losing more than 6% of…
The post Bitcoin could slip below $21k as the broader market dips again appeared first on CoinJournal.
Bitcoin is struggling below $24,500 against the US Dollar. BTC could continue to move down below the $23,650 and $23,500 support levels. Bitcoin is slowly moving lower and trading well below the $25,000 level.
Bitcoin is slowly moving lower below $24,500 against the US Dollar. BTC could drop in the short-term if it stays below the 100 hourly SMA. Bitcoin started a downside correction after it failed to settle above $25,000.
According to CoinGecko, the most prominent cryptocurrency in the world plummeted by 3. 5% in the last 24 hours. Bitcoin gave up all of its gains from last week as it fell below $20,000. BTC’s price on the market right now is $19,750, and the weekly gain is in the red with a 2.
Bitcoin failed to continue higher above $31,750 against the US Dollar. BTC declined sharply and traded below the $30,000 support zone. Bitcoin started a fresh decline from the $31,750 region. The price is now trading below the $30,000 level and the 100 hourly simple moving average.
Bitcoin (BTC) reached a high of $32,399 on May 31 but fell the next day and has dropped below $30,000 once more.
The post Bitcoin (BTC) Fails to Sustain Upward Movement and Drops Below $30,000 appeared first on BeInCrypto.
The mid-week lull was swiftly broken as Bitcoin fell below the $30,000-mark - yet again. While you might feel the urge to blame world events or broader market factors for this dip, you'd be well advisThe post The LUNA of it all - Why Bitcoin fell below $30K appeared first on AMBCrypto.
Bitcoin slipped below $32,000 on Monday and is dangerously close to breaking the $32.5k…
The post Bitcoin falls below $32K as on-chain data suggests more pain likely appeared first on Coin Journal.
Bitcoin started a strong decline below the $37,500 support against the US Dollar. BTC even traded below $35,000 and might continue to move down towards $32,000. Bitcoin started a strong decline below the $36,500 and $35,500 levels.
Bitcoin, the flagship cryptocurrency has remained below $40,000 over the past few days. The broader market correction has pushed altcoins to trade below their key support levels. Ethereum was priced below $3000 as the coin was rejected from the aforementioned price level.
Bitcoin, the flagship cryptocurrency has remained below $40,000 over the past few days. The broader market correction has pushed altcoins to trade below their key support levels. Ethereum was priced below $3000 as the coin was rejected from the aforementioned price level.
Bitcoin started another decline below the $40,000 level against the US Dollar. BTC could extend losses if it stays below the $40,000 resistance zone. Bitcoin started another decline after it failed to clear the $40,000 resistance zone.
MARA says the Texas wind farm has a capacity of 240 megawatts of interconnection and 114 megawatts of nameplate wind. The Bitcoin mining company will leverage the site to cut its Bitcoin mining costs.
Всего за два дня штаты Флорида, Айова и Мэриленд представили новые законопроекты об интеграции BTC в госфинансы США. Если их примут, штаты смогут инвестировать в биткоин, принимать его в качестве платежей, а также создать стратегические резервы в крипте.
BTC fell below $95k as sellers intensified pressure. As well as the sentiment, key events to watch out for this week include tariffs news, Fed chair Jerome Powells testimony and CPI data release.
По словам аналитиков, это станет катализатором для привлечения новых инвесторов в страну. Вчера, 6 февраля президент Чехии Петр Павел подписал закон, который освобождает bitcoin-холдеров от налога на прирост капитала, если актив находится в собственности более трех лет.
Законопроект о резерве биткоинов только что прошел голосование в Палате представителей и теперь направляется в Сенат. Если закон примут, Юта станет первым штатом США, который хранит часть своих финансов в BTC.
Oklahoma joins Texas, Pennsylvania, Ohio, New Hampshire and North Dakota in having Bitcoin reserve proposals. State savings accounts and pension funds will have the nod to invest in BTC if the bill passes.
Genius Group has announced a $33 million rights offering. The company will use net proceeds from the sale to buy Bitcoin. Genius Group holds $35 million in BTC and could see holdings rise to $86 million with plans for additional $20 million loan.