Bitcoin Breaks $37,000, Why Downtrend To $29,000 Is Likely

Bitcoin Breaks $37,000, Why Downtrend To $29,000 Is Likely

Bitcoin has now broken down past $38,000 for the first time in over four months. This is a crucial point for the digital asset given that it has successfully maintained its position above this level throughout all of the crashes and dips of the previous month. While most would like to think that this is only a temporary setback that will soon be resolved, analyst Nicholas Merten has warned investors to brace for even more volatility. Prepare For Further Downside In a recent video on his YouTube channel, Merten shared with his over 87K subscribers some gloomy analysis surrounding bitcoin.....


Related News

ImmutableX Breaks Out Of Downtrend, Can Price Rally To $1?

IMX price could be ready for a short-term relief rally as price breaks out from the downtrend, creating more bullish sentiment for a recovery. IMX looks strong on both low and high timeframes.  The price of IMX breaks out on the daily timeframe after forming a descending triangle. ImmutableX (IMX) has struggled to remain bullish against tether (USDT) after seeing its price rejected from a region of $1.3. Previous weeks for the crypto space have been slow as most altcoins, and major cryptocurrencies like Bitcoin (BTC) continued to move in a range. With so much belief in Uptober, as many....

How low can Bitcoin price drop if BTC fails to retake $35K soon?

Bitcoin bulls must overcome a major hurdle before new all-time highs can come back into play. Bitcoin (BTC) has seen a turbulent past few days after Elon Musk showed support for the cryptocurrency amid the GameStop fiasco on the equity markets. However, since that tweet, Bitcoin’s price has been correcting after the entire push through Elon Musk was retraced.Since then, Bitcoin’s price is facing a crucial hurdle at the $35,000–$35,200 area before an all-time high test. Once that area breaks and flips for support, continuation toward a new all-time high is likely. Bitcoin doesn’t hold $35K....

Tron Could Be Ready For $0.1 After Hard Fight, Here Is Why?

TRX price could be ready for a short-term relief rally as the price breaks out from the downtrend, creating more bullish sentiment for a recovery. TRX looks strong on both low and high timeframes.  The price of TRX breaks out on the daily timeframe after forming a descending triangle. Tron (TRX) has struggled to remain bullish against tether (USDT) after seeing its price rejected from a region of $0.11 on several occasions to trend higher. Tron (TRX), despite being loved by the Tron community, the token has had its fair share of the current bear run coupled with the rumors of its....

Chainlink Downtrend Could Continue Toward New Lows Despite Record Rebound

Chainlink recently saw a record-breaking rebound, closing an intraday rally with more than 30% gains on the day. The recovery kept climbing but has since turned around at the top of a downtrend channel that thus far has been holding. Will the downtrend take the cryptocurrency lower? And what other factors back up any theories […]

Tezos (XTZ) Breaks Out Of A Falling Wedge As Price Could Hit $2 Mark

XTZ’s price shows a spark of strength as price breaks out from a descending triangle as price eyes $2 with good volume.  XTZ continues in a range-bound downtrend movement as the price aims to breakout.  The price of XTZ continues to trade below the 50 and 200 Exponential Moving Averages (EMA) on the daily timeframe.  Despite market uncertainties that have affected the prices of many altcoins in recent weeks, the price of Tezos (XTZ) has remained strong. Tezos (XTZ) has held firm ahead of a breakout from its long downtrend, with the price indicating a possible rally to $2. Bitcoin (BTC)....