This “Death Cross” Suggests Bitcoin Could See Immense Turbulence
Bitcoin has seen a rocky past few days and weeks, with the cryptocurrency seeing notable losses that came about after it first broke below $19,000 The selling pressure below this level has been quite intense in the past, but usually the crypto posts “v-shaped recoveries” that help it reclaim this as support Unlike in weeks past, BTC has yet to see any massive inflows of buying pressure that could help spark a strong upside movement […]
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Bitcoin has been trading in close tandem with equities throughout the past several days Heightened correlation to risk-on assets is a common BTC trait during times of immense global turbulence Although this strikes a blow to its safe-haven narrative, the cryptocurrency still has a long way to go before it fully decouples with the traditional markets This global economic turbulence that is weighing on Bitcoin may only get worse as the year drags on and […]
Dogecoin (DOGE) holders have been put on alert by crypto analyst Ali Martinez (@ali_charts), who shared a chart on Monday highlighting a noteworthy technical setup. According to Martinez, the Market Value to Realized Value (MVRV) ratio for DOGE just formed a “death cross” with its own 200-day moving average (MA)—an event that previously correlated with major price declines. Dogecoin MVRV Death Cross Warning Martinez’s chart, sourced from Santiment, plots three key data points: DOGE/USD Price (black line), DOGE’s MVRV Ratio (orange line) and DOGE’s 200-day MVRV Ratio MA (red line). He....
Bitcoin and the entire crypto market aren’t providing investors with much clarity into their near-term outlooks BTC is in the process of battling the headwinds created by the ongoing turbulence within the stock market This turbulence has come about as a result of a lack of progress surrounding the second stimulus package If the White House and Congress fail to come to terms with an agreement, then the stock market may continue seeing immense selling […]
Bitcoin’s price is rapidly navigating back up towards its all-time highs. This comes after the crypto faced some immense turbulence throughout the past week Each rejection at roughly $19,800 has had far-reaching implications for the cryptocurrency, but it has been able to set higher-lows This is a bullish sign that suggests the selling pressure at this price level is beginning to degrade Where it trends in the mid-term may depend largely on how strong the […]
Bitcoin has faced some intense buying pressure throughout the past few hours, allowing its price to see some immense gains. This upside comes as Ethereum and the rest of the altcoin market all consolidate, with attention shifting back towards BTC. The cryptocurrency still has a way to go before it can see another immense rally […]