Bitcoin Price Reversal: Strength Round The Corner?
Yesterday we saw the bitcoin price decline throughout the majority of the day, bottoming out just ahead of 294 flat just before midnight GMT. The trend fell in line with the overarching bearish momentum we have seen over the last 48 hours or so - which in turn comes as a wider market correction of the bull run we saw over the last few weeks. Action has now matured across the Asian session, and as we head into a fresh day of European trading, what are the levels we are keeping an eye on in today's bitcoin price, and where are we looking to get in and out of the markets according to our....
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As the crypto market prepares to close the year, the Ethereum price is showing strength against Bitcoin (BTC) as it aims for a mid-high timeframe reversal. A breakout above a critical resistance level could signal a potential shift in price action, paving the way for Ethereum’s dominance and potential rally in Q1 2025. Ethereum Price Poised For Breakout Against Bitcoin A crypto analyst, known as ‘Daan Crypto Trades,’ shared a price chart representing the ETH/BTC trading pair, providing a detailed analysis of the probability of a reversal and its impact on the strength of the altcoin....
Bitcoin price noted a sharp decline after the bulls were rejected at the $24,000 price mark a few days ago. Over the past week, the coin depreciated 7.6%. In the last 24 hours, Bitcoin price barely noted any movement. This indicated that the coin was trading within a consolidated price range. The bulls are trying to re-enter the market but selling strength continues to increase. The coin however has managed to keep the price above the $21,000 support level. The technical outlook for Bitcoin has turned mixed, meaning there could be signs of reversal over the next trading session. For a....
Bitcoin price is currently on the ropes, potentially about to lose support at around $56,000. But could the recent weakness in the cryptocurrency market be more a factor of a strong dollar? TD Sequential Triggers Anti-Correlated Signals On BTCUSD, DXY Weeks ago, we posed the question if or not the Dollar Currency Index making new highs in 2021 was a dangerous situation for Bitcoin. After more than $10,000 per coin was wiped off the price of BTC, the answer was a resounding yes. But much like the cryptocurrency uptrend in late 2020 and early 2021 came to an abrupt halt, even the....
Bitcoin price is hovering at the resistance of the short-term descending channel and could be in for a continuation or reversal. Bitcoin Price Key Highlights. Bitcoin price seems to be establishing a downtrend now that it’s forming a descending channel on its 1-hour time frame. Price is now testing the channel resistance, still deciding whether to make a bounce or a break. Technical indicators seem to be indicating that the selloff could resume but there are also potential arguments for a reversal. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA so the path of....
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