More Pain for Bitcoin Ahead as Price Breaks “Legacy Trendline,” Says Analyst
Bitcoin (BTC) is at risk of extending its ongoing downside correction as it breaks below a so-called “legacy trendline.” As spotted by an independent, pseudonymous chart analyst, the said trendline was acting as a support to Bitcoin since March 2020. On September 30, the BTC/USD exchange rate fell below the price floor and flipped the Ascending Trendline into resistance. The pair lately tested it twice for an upside breakout, but with no success. The TradingView […]
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Bitcoin currently trades for $13,800, establishing another floor as it looks to move even higher in the days ahead. The coin is below the daily highs of $14,100, set around 16 hours ago. Analysts think that Bitcoin could rip higher once it turns the $14,000 region into support. One trader went as far as to say that Bitcoin could see an “inverse capitulation.” Bitcoin Could Explode Higher if It Breaks $14,000, Analyst Says Bitcoin has […]
Bitcoin price is climbing in a choppy advance. Is this the base of a large advance, or just an upward correction in a sideways spell? No telling what is happening in the chart… a setup for advance, or decline? Or a long consolidation above $550? The 1hr chart (not shown) continues to signal wildly and we pay it no mind. However, the 4hr chart (above) is interesting because it had previously given us a false buy signal, and is now on the verge of signaling a sell signal. Do we believe it? Not without 1hr confirmation, and the 1hr chart is nowhere near signaling decline in any of its....
Bitcoin could backtrack its way towards $20,000 in the coming sessions, says a chartist at TradingShot, an independent investment advisory firm. A $21,000 Bitcoin In his Wednesday note, the analyst wrote that the benchmark cryptocurrency anticipates undergoing a strong rebound move after testing a short-term support trendline. The trendline serves as a part of an […]