Why An 18% Drop In Bitcoin Could Still Be Bullish
Bitcoin is currently experiencing a downward correction after the price moved past $50K on Monday. While corrections down are to be expected with such a rally, indicators point to this being a bearish scenario for bitcoin. The price looks set to drop further after this correction. This would most likely see bitcoin lost a good percentage of the gains it had made last week. Related Reading | South African Man Loses $900,000 Worth Of Bitcoin After Accidentally Deleting Keys Even though bearish scenarios look negative for the market at large, this scenario is most likely going to play....
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Bitcoin has undergone a strong drop since the highs seen yesterday. The price of the leading cryptocurrency fell from its highs of $13,850 to lows around $12,900. This drop was seemingly a result of the drop in the U.S. stock market. The Dow Jones and the S&P 500 have dropped the largest they have in […]
Bitcoin has undergone a drop since peaking at $14,100 on Saturday. On Monday morning, the leading cryptocurrency fell as low as $13,200, marking a 6.5% drop from the highs. Bitcoin has since bounced to $13,700 as of this article’s writing. While the cryptocurrency remains below the $14,000 technical resistance, analysts remain optimistic about the digital […]
Bitcoin wobbled between gains and losses on Wednesday as traders measured on-chain sell-off signals against the drop in the benchmark bond yields. The flagship cryptocurrency surged around 0.5 percent to $34,335 ahead of the New York opening bell. It was trading at $35,233 on Coinbase exchange at its intraday high, pointing to bullish attempts to […]
Bitcoin price abruptly dropped to $15,670 before traders stepped in to defend the $16,000 level. The price of Bitcoin (BTC) dropped to as low as $15,670 on Binance on Nov. 15. The highly volatile drop came hours after BTC reached $16,355, demonstrating strong momentum. Three key factors likely caused the overnight drop in the price of Bitcoin. The three potential factors are a weekend shakeout, the daily moving average (MA) retest, and a retest of the parabola.BTC/USD daily chart . Source: TradingView.comWeekend shakeouts and lower support retests are healthyAs Cointelegraph reported,....
Bitcoin faced a strong drop into Friday. The cryptocurrency, after peaking at $40,000, fell as low as $34,000 in a flash drop on Friday morning. The drop was odd because the cryptocurrency was strongly underperforming altcoins. Normally, during Bitcoin corrections, altcoins fall against the U.S. dollar and against BTC, though this was not the case. […]