Bears apply the pressure as Bitcoin price revisits the $41K ‘falling knife’ zone
Bitcoin traders say $43,600 needs to be regained to restore the bullish uptrend, but BTC futures and options data are showing signs of distress. "Don't fight the trend" is an old saying in the markets, and there are other variants of the phrase like "never catch a falling knife." The bottom line is that traders should not try to anticipate trend reversals, or even worse, try to improve their average price while losing money.It really doesn't matter whether one is trading soy futures, silver, stocks, or cryptocurrencies. Markets generally move in cycles, which can last for a few days to a....
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As all recent charts indicate, the bitcoin price isn't doing that well as bears seem to dominate the market. The sudden buy pressure that we've started seeing after the bitcoin price started falling below the support level of $220 might result in another correction. It's Bears vs Bulls once again. It's still hard to make out if the bulls managed to overcome the bears after the support level of $220 was breached. However, it's clear that most positive btc price spikes today were met with a negative overturn despite the healthy buy activity. As seen on the chart below, the price only managed....
Bitcoin Price Key Highlights. Bitcoin price has been on a steady decline, erasing most of its sudden gains from earlier in the month. Although bears still seem to be in control, selling pressure could fade once bitcoin price hits support at the $300 mark. Bitcoin price could be due for a quick bounce if profit-taking takes place around the nearby major support zone. Breakdown Possible? Technical indicators seem to be indicating that bearish momentum could stay in play for much longer, as the short-term 100 SMA is below the longer-term 200 SMA. Stochastic is pointing down once more, after....
Ethereum price corrected gains and traded below $1,850 against the US Dollar. ETH remained stable above $1,800 and is currently attempting a fresh increase. Ethereum started a downside correction below the $1,880 support zone. The price is trading near $1,850 and the 100-hourly Simple Moving Average. There was a break above a key bearish trend line with resistance near $1,855 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rise again if it stays above the $1,860 and $1,850 support levels. Ethereum Price Revisits 100-Hourly SMA Ethereum’s price started a fresh decline....
Polkadot (DOT) price shows that the coin has finally latched on to its support zone. Polkadot price analysis looks extremely bearish DOT/USD resistance at $7.79 DOT/USD support at $7.05 The bulls did a clap back and were able to rebound as DOT dodged further downtrend that falls below $7.22 and instead went for a range upwards or shooting towards $7.42. ADA showed some recovery but provided the necessary support for the coin’s price. With the prevailing intense selling pressure in the market, a downtrend was apparent for ADA that has been lingering for more than a....
Bitcoin price has been defeated by the bears after it traded around the $20,000 mark for quite some time. Over the last 24 hours, the coin fell by 2.1% and in the past week Bitcoin price lost close to 5% of its value. At the current moment, the coin was trading at the $19,000 price level. The price of the asset has been directly tied to the U.S Federal Reserve hiking the interest rates. Bitcoin similarly continued to face selling pressure on its chart. The technical outlook continued to demonstrate a fall in buying strength. The price of the asset currently has been demonstrating....