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 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 […]
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 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....
Bitcoin plunged as low as $34,500 on top spot exchanges last hour as selling pressure picked up ahead of the weekly close. The cryptocurrency fell as low as $35,000 on futures exchanges as well, though spot sellers were leading the correction. While some began to fear that a deeper correction was in store, buyers stepped […]
Bitcoin is showing signs of continuing its bullish momentum despite a recent sell-off that it experienced after soaring towards $18,500. The flagship cryptocurrency’s latest downside correction has met with an equal resistive buying sentiment near local lows. As a result, its price against the dollar has rebounded on multiple breakdown attempts, creating a structure that […]