The Bitcoin Price is Descending
The Bitcoin price has begun to descend. Yesterday the Bitcoin price peaked at 657, compared to 680 USD per BTC June 3rd. Today the Bitcoin price has declined with more than 15 USD from 650 USD to 635 USD per BTC. I believe that the Bitcoin price will continue down in the weeks to come. Despite the continuous good news that is being pumped on ei. Reddit, it doesn't seem to be able to maintain the artificial high price. Recently, Dish Network announced that they would start accepting Bitcoin payments and become the largest company to accept Bitcoin to date. The news was highly applauded, but....
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Bitcoin Price Key Highlights. Bitcoin price is forming a descending triangle pattern with its lower highs and support around $315. Price is currently testing the top of the triangle near the 100 SMA, which has held as a dynamic inflection point in the past. Bitcoin price could be due for a decline to the bottom of the descending triangle, as technical indicators are showing that bears are taking control. More Sell Signals? First off, the short-term 100 SMA is below the longer-term 200 SMA, indicating that the path of least resistance is to the downside. Any pop higher from the descending....
Bitcoin price is slowly making its way down, moving inside a descending channel on its short-term time frames. Bitcoin Price Key Highlights. Bitcoin price seems to have broken below the descending triangle pattern illustrated in an earlier article. Price is establishing short-term downside momentum from here, creating a descending channel visible on the 1-hour chart. Price just bounced off the channel support and could be due for a test of resistance at $930. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is still to the upside.....
Network outages and decreasing smart contract reserves add further downside pressure to SOL price. Solana (SOL) is nearing a decisive breakdown moment as it inches towards the apex of its prevailing "descending triangle" pattern.SOL's 40% price decline setupNotably, SOL's price has been consolidating inside a range defined by a falling trendline resistance and horizontal trendline support, which appears like a descending triangle—a trend continuation pattern. Therefore, since SOL has been trending lower, down about 85% from its November 2021 peak of $267, its likelihood of breaking below....
Bitcoin price is currently settling inside a descending triangle pattern and could be due for a breakout soon. Bitcoin Price Key Highlights. Bitcoin price has formed lower highs on its 1-hour time frame and found support around $900. This has led to the creation of a small descending triangle consolidation pattern on the short-term chart. The direction in which price breaks out could set the longer-term trend for bitcoin. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside. This suggests that a break higher could be....
Ethereum price has been trading within a descending trendline, which is a sign of bearishness. Over the last 24 hours, the Ethereum price has been different as the coin registered a 6% appreciation. As the coin appreciated, it broke outside of the descending channel. Over the last week, the Ethereum price lost more than 7% of its value. The buyers have entered the market, which has helped Ethereum climb on its chart. Although buyers are attempting to make a comeback, the sellers continue to drive the price action on the one-day chart. The $1,400 price mark continues to remain a tough....