Bitcoin Has Officially Entered Bearish Territory, And It’s Headed To $35,000;...
Bitcoin’s higher-timeframe structure is in an interesting state, according to crypto analyst Crypto Patel, who is of the notion that the cryptocurrency has officially entered bearish territory after breaking a long-term support level at $107,000. Technical analysis of price action on the weekly candlestick price chart shows Bitcoin is now in this bearish territory, with a projection of a deeper correction to as low as $35,000 in 2026. The outlook is based on Fibonacci retracement levels that could determine Bitcoin’s next price move. Bearish Territory Kicked In After Breakdown Below....
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The Bitcoin market recorded another week of volatile price action, but continues to consolidate a defined range between $60,000 – $70,000. Bearish sentiments remain at a heightened level, considering the downtrend observed in recent months and the non-confirmation of a cycle bottom. Notably, recent on-chain data has revealed the importance of a particular support level, which, if breached, could expose investors to steeper downsides and extend the crypto winter. Related Reading: Bitcoin Has Officially Entered Bearish Territory, And It’s Headed To $35,000; Chart Shows URPD Indicator....
Bitcoin’s Bull Score Index has climbed back to 50, moving out of outright bearish territory and into what CryptoQuant’s Julio Moreno described as a neutral zone. In a post on X, the CryptoQuant head of research wrote: “First time in this bear market that the Bull Score Index enters neutral zone (50). In March 2022, the Bull Score entered neutral territory for about a week, and then the price resumed its decline.” What This Means For Bitcoin Price That comparison is doing most of the work here. Moreno is not presenting the move to 50 as confirmation of a durable trend reversal. He is....
One thing that has stood out about Bitcoin is how different the recent bull cycle was from other bull cycles. For example, even after the Bitcoin price surged to new all-time highs, the altcoins never followed, and therefore, there was no explosive altcoin season as many expected. Following this deviation, crypto analyst Swallow Academy has purported that the digital asset is likely to keep deviating, and that would mean that it has now entered another bear market cycle. Why Bitcoin Price Is Headed Below $30,000 The chart shared on the TradingView website by the crypto analyst points to....
Bitcoin is still quite bullish over the long term despite all of the bearish short-term trends being recorded recently. It is still one of the most promising investment options in the space with growth speculated to skyrocket in the next five years. Through all of the recent downtrend, there have been widespread concerns that the cryptocurrency has officially entered another stretched-out bear market. Not everyone subscribes to this school of thought, however. The current bearish climate does nothing to deter bulls as there are still various scenarios that put bitcoin in another bull....
The Bitcoin and Ethereum prices plunged sharply over the weekend as missiles flew across the Middle East, exposing just how quickly geopolitical crises can send shockwaves through the financial markets. A joint US and Israel strike on Iran triggered a violent selloff that wiped out billions of dollars from the crypto market in a matter of hours. Fresh reports now indicate that Bitcoin and Ethereum are beginning to recover. Still, with geopolitical tensions continuing to escalate, it remains uncertain whether this renewed momentum can be sustained. Bitcoin Price Recovers After US-Israel....