Bitcoin Price Collapse: Just a correction?
Last night we published our second of our twice daily bitcoin price watch pieces ahead of the Asian session. The primary thesis behind the piece was that we would be tightening up both our range and our risk parameters, with the goal of reducing our exposure to any correction in the bitcoin price overnight while also leaving us open to draw a profit from any action. Price has now matured across the session, and we are now mid way through Thursday's European trading. So, at this point, how did price fare overnight, did our strategy get us in and out of the markets as a response to....
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Collapse. It seems to be a word that is becoming more and more relevant in our everyday lives. The economic collapse of Greece. The collapse of the Petrodollar. The collapse of our civil liberties and constitutional rights. And the upcoming collapse of the U. S. Dollar. There's a lot on our plate right now, but why not lay all the cards on the table? What would happen if Bitcoin collapsed? This possibility is much closer than you think, and efforts to avert it are underway, but what if nothing was done? Let's pretend everyone just acted like everything's peach fuss with Bitcoin and its....
The Three Arrow Capital (3AC) collapse has come barely one month after the Terra collapse. Both of these crypto giants crashing in such a short time frame has put the market in one of its most volatile positions yet. The Luna collapse had reverberated through the market and 3AC had taken a lot of heat […]
As we warned, Bitcoin’s price against the US Dollar fell, breaking both levels of support $440 and $430. A long-overdue correction and the hesitancy of buyers lowered Bitcoin. Moreover, yesterday the Dollar strengthened its positions against other major currencies. The dramatic collapse of the price to the levels of $445 and $427 occurred during the American session and the beginning of the Asian session. The price of Bitcoin follows the path of least resistance – sellers will try to bring the situation under control and to lower the price to $420. If they succeed, the Bears will open the....
Here's a look at what we are focusing on in the bitcoin price this morning. In yesterday evening’s analysis, our core focus was preparing for a large pullback on the gains we had seen across the last week or so. We surmised that the bitcoin price couldn’t just keep rising unchecked – at some point, people take profits off the table. As it turned out, when we published our evening analysis, we were only hours away from this correction. Price reached the 1300 level (which was a natural resistance level, we’ve talked about these sorts of psychologically important levels in the past), ran....
Dogecoin has undergone a massive correction of roughly 10% in the past 24 hours, with the price nose-diving from 49.8 satoshis to 45.1 satoshis. As a result of this fall, Dogecoin has neared the floor of 43 satoshis, which if cracked, could lead to a severe collapse in the price. But, will it? Let us find out with the help of technical analysis below. Technical analysis implemented on the 240-minute Dogecoin/Bitcoin price chart reveals that bears are pouncing on every opportunity to jettison Dogecoin en masse. The support of 43 satoshis may well give way to a lower ground, if bulls....