Bitcoin Trading Pulls Correction Deeper
Bitcoin trading, today, sacrificed the technical advantage it had gained from Friday's advance above long-term resistance. The market had already successfully tested the trendline on the day but returned to it in a cynical sell-off during Sunday trade. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Bitcoin Trading and Price Analysis. Time of analysis: 14h38 UTC. Bitstamp 15-Minute Chart. From the analysis pages of xbt.social, earlier today: The technical chart conditions are similar to the sell signal they gave prior to the drop visible on the....
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Bitcoin price in a flash is now well below $40,000, reaching as low as $30,000 this morning during the chaos. The selloff is the worst since Black Thursday last year at the onset of the pandemic, but things could still go a lot deeper. Here’s what data says about assets – even cryptocurrencies – when […]
Bitcoin price decline pulls deeper into the consolidation zone around $650. Below $640 there is a freefall zone to $600, yet a reversal at $640 cannot be ruled out. The Bitstamp 4hr candle chart shows a broad overview of the final large wave to the June high, followed by a correction that quickly slammed down to $560. Subsequent price action had been ambiguous while price went through the paces of a correction – rendering the indicators mostly useless and leading the market into two bull traps prior to slumping once more. On the weekend two declining scenarios were considered: 1) a large....
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Bitcoin is currently experiencing volatile and uncertain price action, with the latest 10% correction raising concerns among investors. While this decline is smaller than the 30% retracements seen in recent months, it is causing significantly more damage to market sentiment as investors grow increasingly weary of the ongoing market dynamics. Related Reading: Bitcoin (BTC) Stumbles […]
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