Markets Weekly: 2014 Closes on Bearish Note for Bitcoin
The bitcoin price has been in the doldrums in the last week, closing out a month of persistent losses. It's now trading at the lowest levels of the year. Bitcoin opened the week at $330.67 and closed at $316.80, according to the CoinDesk Bitcoin Price Index. That represented a loss of $13.87 in the bitcoin price over the last seven days, or 4.2%. Over the week, the price hit a high of $335.88 on the 23rd December, only to fall to a low of $312.40 four days later. That was a drop of some $23. The bitcoin price has not been kind to bulls this month. While it was trading in the high-$300s -....
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Clouds on the horizon grow nearer as markets prepare for more inflation cues this week. Bitcoin (BTC) starts the second week of May 2022 by bringing up bearish ghosts from its past — how much worse could the picture get for hodlers?After falling to nearly $33,000, the largest cryptocurrency is giving market participants, new and old, a run for their money, and the fear is palpable.A brutal combination of macro cues, which are set to continue this week and beyond, forms the backdrop for some historical chart retests that no one wanted to see again.As calls for capitulation continue, there....
Bitcoin had been able to break out of its red streak earlier in the year after making 11 consecutive red weekly closes. With the market recovery, the digital asset had begun to return some green weekly closes. That is until the market correction, and bitcoin lost about $4,000 off the top of its value. This resulted in a weekly close for the prior week, and even though it looked like a recovery might be on the horizon, bitcoin has recorded another red weekly close. Two Red Closes Within the last couple of weeks, bitcoin had seen some incredible movements that had returned faith in the....
Yesterday we analyzed the bitcoin market from a weekly perspective and saw that we are, in all likelihood, very close to the beginning of a bull market. However, the weekly chart is unclear about whether or not there may be another week of selling. My analysis and the charts you see herein are based upon bitcoin price as reflected on Bitstamp. Daily Chart - Bearish Setup. Today we will look at the daily chart of the bitcoin market to get a closer look at what the charts are telling us. Here I have elected to use an eight candle bearish setup from the June 2014 high. Note first of all that....
Bitcoin has been marking multiple weeks of consecutive red closes. This has been the case for the last two months when the leading cryptocurrency had seen 9 consecutive weeks of red closes. Unsurprisingly, this had pained a very bearish image for the digital asset. However, it seems the tide has begun to turn as bitcoin has now ended its streak. A break above $30,000 in the early hours of Monday put BTC in its first weekly close in more than two months. Better Days Ahead For Bitcoin? While the price of bitcoin has been in recovery, it does not exactly erase more than two months of bearish....
Ethereum has been one of the cryptocurrencies that have received major support from the crypto community regardless of how the price performs in the market. Since the Ethereum Merge was completed, though, the digital asset has not performed as well as expected. ETH’s price has continuously bled out, which has led to its price relegating to the low $1,000s. As the new month begins, speculations abound on whether the cryptocurrency has what it takes to recover. Three Red Weekly Closes Along with the rest of the crypto market, Ethereum’s price has suffered bitterly at the hands of the bulls.....