Is Bitcoin (BTC) Headed For A Deeper Correction? $56K Breakdown Could Spell T...
Bitcoin is currently experiencing volatile and uncertain price action, with the latest 10% correction raising concerns among investors. While this decline is smaller than the 30% retracements seen in recent months, it is causing significantly more damage to market sentiment as investors grow increasingly weary of the ongoing market dynamics. Related Reading: Bitcoin (BTC) Stumbles […]
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Bitcoin price has pulled out of its downward correction but is now in a twilight zone between the advance high and a potential trend breakdown. How now? Let the market show the way. Price has completed a three-wave pattern that could spell the end of a corrective advance since yesterday’s bounce. If price continues lower, then the 1-hour 200MA (red) will be a target. This level was touched in some exchange charts, but not yet in the Bitstamp chart. Below it lies the $550 level where a Fib line should offer support. If price forms another wave to the upside then the present move is unlikely....
Bitcoin price in a flash is now well below $40,000, reaching as low as $30,000 this morning during the chaos. The selloff is the worst since Black Thursday last year at the onset of the pandemic, but things could still go a lot deeper. Here’s what data says about assets – even cryptocurrencies – when […]
The ongoing bearish pressure in the general crypto market is growing significantly, and Bitcoin, the largest digital asset, has fallen sharply below the $103,000 price mark. With several indicators exhibiting negative signals, the current downward trend seems poised to extend, targeting deeper, crucial support levels. A Notable Bearish Breakdown In Bitcoin’s Price Impending While Bitcoin’s […]
XRP stands at a pivotal point as it approaches the $2.97–$3 resistance zone. Holding above this level could confirm bullish momentum and spark the next Wave 3 rally, but a rejection here risks triggering a deeper correction. Perfect Retest: $2.79 Support Holds Strong CasiTrades, a crypto analyst, recently shared an update on XRP’s ongoing market structure, pointing out that the backtest of the $2.79 support level was flawless. According to CasiTrades, this was precisely where momentum was expected to re-enter the market, and buyers have indeed shown strength at this zone. She emphasized....
Bitcoin price looks ready for a selloff but a quick correction from the breakdown might take place first, giving bears a better entry point. Bitcoin Price Key Highlights. Bitcoin price recently broke below the ascending channel support, signaling that a reversal from the uptrend is about to take place. Price bounced off the $660 area and appears to be making a correction from here. Bitcoin could retest the broken support around the $670-675 levels before resuming its slide. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA for now so the path of least....