The Bears Win this Bitcoin Price Battle
It appears a tug of war between the bulls and the bears, stalemated for a while, is finally being tilted toward the bears. For several days now, in the shorter term time frames, there has been a preponderance of evidence or clues, that the market wanted to go lower. As markets are known to do, it stubbornly refused to do so. Eventually gravity wins, and what wants to go down, does go down, especially when popular webwallets have security flaws. 8-hour Chart. Let's look at the 8-hour chart we saw last night. Note that for the first time since the October low, we have had a close beneath the....
Related News
Bitcoin price has fallen rather sharply following failure to breach a strong resistance level. I was hoping for an upwards break but the pesky full moon appeared (again at a market inflection point, starting to think there's something to this moon phase stuff...) to foil my Plan A. The bears have won a minor skirmish - but not the battle and certainly not the war. After failing to breach a key level, 850 on Bitstamp or 950 on Gox, the Bitcoin price is now staging a fighting retreat back to Support. At the time of writing, the down move has at least paused around the 820 / 0.236 Fib level.....
Cardano (ADA) prices show that the bulls are trying to overpower the market to diminish the bearish trend. ADA prices have been lingering steadily at $0.5, and a rejection strung at $0.628. More so, there has been a marked price decline of 7% in the market seen the previous days as the bearish trend takes over. The current market trading level is now at $0.524, which is pivotal as there seems to be a power struggle between the bulls and the bears. Suggested Reading | Avalanche Crumbles More Than 16% As Crypto Landslide Continues Support At $0.50; Bulls Try To Up Market Prices Support....
A Uniswap (UNI) recent market downturn has forced UNI’s trading range to shrink significantly. During the bull market in July, UNI jumped by more than 60 percent in just over two days, prompting the subsequent fall. After this price increase, the weeks that followed showed a reversal pattern known as a “head and shoulders,” which eventually led to a price decline. The price showed significant volatility over a 16-day period, as evidenced by the market’s historical statistics. This volatility pointed to a fierce battle between bulls and bears. Related Reading: Terra....
Bitcoin’s price action has been rather lackluster as of late, with bulls and bears reaching an impasse following its surge up to the mid-$11,000 region. Each dip is met with significant buying pressure, while each push towards $11,600 is rapidly rejected by bears. This has created a consolidation channel between $11,300 and $11,600. Although neither […]
Bitcoin is trading relatively flat since yesterday as bulls and bears sweat it out to turn the battle in their favor. However, none of them has been able to make a considerable impact until now. Bitcoin dropped after hitting resistance, and the price took support from the recent low of $226.83. Bitcoin is presently consolidating near $228.57. Technical analysis of the 240-minute BTC-USD price chart confirms that the current scenario evenly favors both the bulls and the bears. Bitcoin Chart Structure - The chart above clearly tells that the cryptocurrency is trapped inside a thin range of....