Bitcoin Price Technical Analysis for 19/8/2015 - The Death of Bull
All hell has broken loose in the Bitcoin market! The price of Bitcoin crashed more than 13 percent intraday after bears crushed the bulls following the Bitcoin XT controversy. As of now, short covering has helped lift the price up to $235.66, still off more than 7 percent. With this, all the hard work done by the bulls since June has been undone. In the previous Bitcoin price technical analysis, The Pressure is Simply Too Much, I had clearly stated that if the selling pressure were to increase even slightly, it would lead to a breakdown kind of situation in the cryptocurrency. My short....
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Recent crypto market dynamics in the past four days have seen the return of bullish momentum into many cryptocurrencies, with the Bitcoin price leading the charge. Interestingly, this has led to the projection of looming gains in many altcoins, and technicals suggest an altcoin season might be rolling into place. Crypto analyst Kevin (@Kev_Capital_TA) recently drew attention to a significant development of a daily death cross in Bitcoin’s dominance. This rare occurrence could mark a shift in cryptocurrency investments in the coming months with implications for Bitcoin and the....
A bull flag pattern resembles a flag on a pole and appears when a cryptocurrency is experiencing a significant price rise. Many security price forecasters use technical analysis, sometimes referred to as charting. However, they opt to reject the efficient markets hypothesis (EMH) altogether. The efficient markets hypothesis (EMH), also called the Random Walk Theory, is the idea that current securities prices accurately reflect the information about the firm’s value. Therefore, it is impossible to make excess profits using this information, or gains that are greater than the overall market.....
The Christmas isn’t turning out to be merry for Bitcoin. The cryptocurrency is struggling near the overhead resistance of $465. It is now trading 1.28% lower at $450.89, raising concerns that the market participants might pull out their funds in the holiday season. As a result, several technical indicators are also showing declines. We advised in the previous Bitcoin price technical analysis Target Achieved that traders should book at least partial profits in their long positions. And for today’s analysis, we will again be using the 4-h BTC-USD price chart from BITSTAMP.
All across crypto, fear is in the air. Not only is the market shaken from the recent downtrend, but there’s an extra layer of doom and gloom due to an impending “death cross” in Bitcoin. Learn all about the ominous sounding crossover of two commonly watched moving averages, what the signal could mean, and how Bitcoin price has reacted in the past. The "death cross" is nigh | Source: BTCUSD on TradingView.com Does The Bitcoin Death Cross Mean Doom And Gloom For Crypto? Bitcoin price on daily BTCUSD charts is only days away from completing a “death cross.”....
LINK, the native token of Chainlink, is beginning to recover after seeing a major drop against Bitcoin. The price of LINK, the native cryptocurrency of Chainlink, has increased by 10% in the past three days with the recovery coming despite a “death cross” on the LINK/BTC chart.Josh Olszewicz, a cryptocurrency trader and technical analyst, said the LINK/BTC chart encountered its first death cross since 2018.What is the death cross and why is LINK seeing a relief rally?In technical analysis, the term death cross is a candle chart formation that occurs typically before a large selloff. It....