Bitcoin price has been in an uptrend since the new year kicked off. In just 31 days into the new year, the cryptocurrency rose over 30% and became one of the best-performing assets of 2020 thus far.
But an indicator often used to tip traders off as to what positions “smart money” is taking, may be signaling a bearish reversal in the coming days.
Bitcoin Price Prepares For Bearish Reversal If Smart Money Indicator Is Accurate
Bitcoin price may have set a local downtrend bottom at $6,400 on December 18, 2019, which sent the first-ever cryptocurrency into a powerful uptrend that’s lasted well into the new year.
It’s only now, after a massively bullish monthly close just days ago, that Bitcoin’s uptrend may finally be fading.
Related Reading | Legendary Trader: Current Crypto Rally Must Hold Or More Serious Correction Is Coming
After rising over 40% from lows in a little over a month, Bitcoin price over the weekend may have topped out at roughly $9,600.
A large rejection occurred when Bitcoin price touched the key resistance level, and has been dropping in value ever since.
Despite the small pullback, the crypto market remains at peak bullishness, after many altcoins have risen to local highs, many are expecting Bitcoin price to make a strong run higher.
Especially now that many signals indicate that the bear market may have finally ended.
However, one indicator, considered the “smart money indicator” may be signaling a strong warning sign that a bearish reversal is ahead.
According to the On-Balance Volume indicator, Bitcoin has been making higher highs in price, all while the indicator continues to set lower highs. This price action has caused two, prominent bearish divergences across Bitcoin price charts.
A bearish divergence typically signals a drop is coming and oftentimes can precede a strong bearish reversal.
Understanding the On-Balance Volume Indicator and Why It Matters
On-Balance Volume (OBV) was designed to take advantage of the idea that “volume precedes price,” and the indicator rises or falls depending on negative or positive buy or sell volume.
The theory is that “smart money” often takes positions before the rest of the market, which can be seen ahead of time by decreases or increases in OBV.
The divergence in price and OBV could suggest that smart money is currently distributing heavily into the retail buying frenzy caused by a strong break of a downtrend line and strong January monthly close.
Those who bought Bitcoin as lows last year are likely sitting in as much as 40% profit on their recent investments, prompting them to take profit at the important resistance level.
The bearish divergence line drawn on the chart above also appears to be acting as a top trend line to a massive, multi-month ascending wedge – a pattern that usually breaks to the downside.
Related Reading | 10 Factors Confirm a New Crypto Bull Market Has Officially Begun
On the longest timeframes, Bitcoin appears ready to officially embark off into a new bull market, but until shorter timeframes catch up to that bullishness, Bitcoin price could see some additional downside in the next few weeks.
However, if Bitcoin price were to make a strong move higher here, it would invalidate the two bearish divergences and instead, the OBV indicator would be confirming a new uptrend has begun, due to a series of higher highs and higher lows being set. The post appeared first on NewsBTC. origin »
Bitcoin is facing significant downward pressure with its price falling below $90,000 for the first time since November 2024, as whale addresses decline and technical indicators signal bearish momentum.
Bitcoin’s price remains in a consolidation phase, with technical indicators showing indecision. Traders watch key levels to gauge the next move.
The post Bitcoin (BTC) Price Consolidates Below $100,000 as Whales Await Clear Direction appeared first on BeInCrypto.
Bitcoin’s price remained in a tight range on Monday, continuing a trend that has persisted since November. Bitcoin (BTC) was trading at $96,500, where it has hovered for the past few days. The price is about 12% below its highest…
The crypto market has been experiencing significant volatility, with the Bitcoin price leading the charge. Over the past month, BTC has been trading sideways, recording declines that have pushed its value below the $100,000 mark.
The latest Consumer Price Index data is creating both opportunities and risks for Bitcoin investors. January 2025’s inflation figures have exceeded expectations, potentially setting the stage for significant Bitcoin price movements in either direction.
The Bitcoin price appears to have settled within the $92,000 – $102,000 consolidation range, sparking discussions about the coin’s future trajectory. While it remains unclear whether the premier cryptocurrency has enough momentum to forge new all-time highs soon, it would take significant bearish pressure to pull down the BTC price.
The price of Bitcoin (BTC) suffered a significant loss on Friday as prices dipped below $102,000 marking the end of a rather turbulent trading week. As the global financial markets weathered major losses, Bitcoin made no new price discovery, casting more speculations over the bull market.
Bitcoin price prediction witnessed a sharp price drop following bearish expectations in the U.S. equities market.
The drop below the mid-range support could spur a deeper BTC correction to $92kThe post Bitcoin price prediction bearish ahead of Fed meeting - BTC dives 6% appeared first on AMBCrypto.
Although Bitcoin price action is still holding above the $100,000 price level, the past 24 hours have been highlighted by a 2. 5% decline. According to liquidation data from Coinglass, this decline has seen $65.
Bitcoin (BTC), the flagship crypto asset, presently trades above $104,000 following a significant 10. 98% price rally in the last week. Despite recent sideways movements after a rejection in the $105,700 zone, certain trading indicators signal this uptrend is likely to continue leading to new price discovery.
Bitcoin price resumed its bullish trend and neared its all-time high of $108,200 ahead of Donald Trump’s inauguration and after the encouraging U.S. inflation data.
The Bitcoin price has spent the majority of the past seven days consolidating around the $94,000 mark with signs of a break to either side. According to a crypto analyst, Bitcoin’s recent price movements have led to the creation of liquidity blocks observed between the $86,000 to $104,000 range, which raises an equal likelihood of a bounce towards $104,000 or a downside break to $86,000 from the current price.
Bitcoin tested the $92,000 level yesterday after falling from a weekly high of $102,000 as sell pressures mounted Macroeconomic factors cause doubts about the market strength as sticky inflation becomes a concern Spot crypto ETFs logged large outflows on Wednesday following the release of the Fed meeting notes Bitcoin’s price has fallen from a high […]
The post Bitcoin price analysis: economic headwinds push price lower appeared first on CoinJournal.
The Bitcoin price has struggled to reclaim previous price highs above $100,000, with bearish sentiment dominating the market. Currently, the Bitcoin price is retesting the support line of an Ascending Channel after crashing below $95,000.
The US Federal Reserve’s public consideration of reduced interest rate cuts in 2025 resulted in numerous negative effects on financial markets. Aside from a 17% price loss for Bitcoin, data from Binance exchange shows the BTC market has now developed its largest spot-perpetual price gap.
This week was one of two distinct halves for the price of Bitcoin, with the premier cryptocurrency rising to a new all-time high and dropping by about 13% a few days later. On Friday, December 20, the BTC price dropped to as low as $92,000.
The price of Bitcoin fell to around $92,000, Friday afternoon, December 20 after the US Federal Reserve’s rate cut triggered a sharp selloff in the crypto market. However, the premier cryptocurrency seems to be recovering nicely, having returned above the $97,000 level on the same day.
After crossing an all-time high, the bitcoin price continues to capture the market by consistently proving and solidifying its role as the leading cryptocurrency. However, with its recent price slowdown, top emerging altcoins like PropiChain are brazing up for the market.
Bitcoin‘s scarcity is growing remarkably in the market as small and large-scale investors continue to accumulate a substantial portion of the available coins, which could bolster BTC’s value in light of recent upside price momentum, signaling a potential extension of the uptrend.
The crypto market shed 6. 48% (roughly $240 billion) yesterday as Bitcoin’s fall from $101,000 to a daily low of $93,000 sparked $750 million in liquidations. Major cryptos have begun to recover, with some alts already logging double-digit price increases.
So far, the Bitcoin market continues to demonstrate resilience as it maintains its price above the $90,000 price market despite various factors influencing its price movements. Amid this, a CryptoQuant analyst, aytekin466, recently shared insights into whether the cryptocurrency could face another significant price correction.
The price of Bitcoin (BTC) has dipped by 1. 66% in the last day after failing to break past $102,000 on Friday. Currently, the crypto market leader seems to be in consolidation, with little indication of its next price movement.
Bitcoin has been navigating a whirlwind of volatility recently, with its price repeatedly breaking and losing the highly anticipated $100,000 level—not once, but twice. This rollercoaster movement has captivated investors, making Bitcoin’s price action more intriguing than ever.
Bitcoin price has performed well this week, crossing the important milestone of $100,000 and peaking at $104,000. Bitcoin (BTC) surge occured as data indicated continued investor appetite for the digital currency, even at a six-digit price. Notably, data from SoSoValue…
The Bitcoin price has continually tested resistance levels above $95,000 in its pursuit to reach and surpass the anticipated $100,000 all-time high. Following its surge to $98,000, a crypto analyst has asserted that the BTC price has officially entered the parabolic phase of this four-year market cycle.
Bitcoin‘s recent upward momentum appears to be losing steam as the digital asset has shifted toward bearish territory, sparking speculations about upcoming price corrections. However, considering several factors and trends, these much-anticipated price pullbacks for BTC might be short-lived.
Bitcoin price is consolidating below the $100,000 resistance. BTC bulls might soon attempt to breach the stated milestone and push the price further higher. Bitcoin started a fresh increase above the $96,500 zone.
Bitcoin’s surge lately has brought its price to a new high of $97,584, according to an analysis of price chart shared by Patric H. (@CryptelligenceX) and data from Santiment. Besides, this breakout marks a continuation of bullish momentum, aligning with a fractal pattern observed in Q1 2024.
Bitcoin Puell Multiple nears breakout, indicating a potential 90% price rally, based on mining profitability and historical trends.
The post Bitcoin’s Puell Multiple hints at a potential 90% price rally appeared first on Crypto Briefing.
Ripple CTO has addressed the stagnant XRP price action despite Bitcoin price hitting new ATH while this article also discusses ETFSwap’s (ETFS) potential.
Bitcoin Cash price rallied alongside Bitcoin (BTC) in recent weeks, rising from lows of $321 earlier this month to hit $488 across exchanges. The level is the highest for BCH price since early June, when the altcoin fell below $500.
Bitcoin (BTC) price hit a new record on Nov. 10 by briefly crossing the $80,000 mark, data from CryptoSlate shows. Bitcoin’s all-time high price comes at the heels of Donald Trump winning the U.
Recent action has seen Bitcoin price retest the $67,000 price level. Particularly, the Bitcoin price declined by about 8. 9% in seven days from $73,464 on October 29 to $66,895 on November 4, as many short-term traders exited their positions.
The Bitcoin price has posted five consecutive red daily candles since it stopped just short of its all-time high at $73,620 last Tuesday. As a result, the BTC price has fallen by around 7%. This decline is evident on the weekly chart, which shows a major bearish weekly candle – a gravestone doji.
Preceding the Bitcoin price pump to over $19,800 was an influx of new capital and investors, data from GlassNode reveals. The Bitcoin Price Pump The Bitcoin price has since contracted to around $19,400 at the time of writing but price action favors bulls.
Clearly, Bitcoin is in a roll, more than quadrupling since bottoming up in Dec 2018. Now, smart money shall pour their money to altcoins.
The post Smart Money Will Soon Diversify For 50-100X Gains In Altcoins appeared first on Ethereum World News.
Data from the US Commodity and Futures Trading Commission reveals that institutional investors flipped bullish on Bitcoin as of April 2nd. The date coincides with the latest bitcoin price rally when it soared from around $4,100 to more than $5,300 in minutes.
Western Australia’s capital city, Perth saw its first blockchain center open on December 3, 2018, reports the Sydney Morning Herald, December 4, 2018. The blockchain center will allow startups to share resources and ideas with like-minded business personnel and entrepreneurs.
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Australia Set to Make Money ‘Smart’ Using Blockchain
The Commonwealth Scientific and Industrial Research Organization’s (CSIRO) Data61 division and Commonwealth Bank of Australia (CBA) have announced that they have successfully trialed a new type of blockchain-powered smart money.