Bitcoin Price Sell-Off Approaching $300
Bitcoin price has been bouncing along the $330 and 2100 CNY level for days. The benefits of bitcoin advance far outweigh those of decline, but a cynical sell-off seems to be opting for the worse of two options. This analysis is provided by xbt.social with a 3-hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 15h49 UTC. OKCoin-CNY 15-Minute Chart. From the analysis pages of xbt.social, earlier today: The OKCoin CNY exchange is visibly leading the decline and its 15-minute chart, above,....
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A recent Glassnode report says some long-term holders (LTHs) of bitcoin offloaded part of their holdings and cashed out their profits during a bull-run. Still, the report explains that the sell-off, which has been noticeable since late November, is not necessarily a sign of an approaching bear market. Instead, as the data shows, BTC is poised for another rally. Since Nov. 26, when the price of BTC dropped by more than 17% in 24 hours, the digital asset has recovered and currently trades above $19,000. Some analysts believe that it is only a matter of time before the leading crypto....
The upward movement of Ethereum’s price can be a correction. The graph is approaching a key technical, where volatility is highly likely to increase. ETH/USD. Low volatility, together with a decline in volume, indicates the fact that Ethereum’s price is currently in an area which isn’t really profitable for both bulls and bears. With regards to the movement of the past two weeks, the ETHUSD price is still too low to sell and too high to buy for short-term traders. However, the full-scale rebound towards the $14.5 - $9.5 downward trend is not over yet. In order to form a movement of a....
On-chain data shows the Bitcoin taker buy/sell ratio is now approaching a crossover with the “1” level, a sign that could be bullish for the crypto’s price. Bitcoin Taker Buy/Sell Ratio Observes Rise, Almost Reaches A Value Of 1 As explained by an analyst in a CryptoQuant post, signs may suggest that a local top could soon be coming for the crypto. The “taker buy/sell ratio” is an indicator that measures the ratio between the Bitcoin long volume and the short volume. When the value of the metric is greater than one, it means the taker buy volume is higher than....
Following three consecutive sessions of declines, BTC was fast approaching its support level of $40,000 on Friday, as markets prepared for February’s nonfarm payrolls report. This came as ETH also fell lower, and is approaching its own floor of $2,500 in the process. Bitcoin BTC bulls have been few and far between over the last few days, as the world’s largest cryptocurrency faced growing pressure from bears. This pressure came following Tuesday’s climb to the resistance level of $45,000, which then triggered an onslaught of short sellers, who entered the market. As....
Ethereum started a sharp downside correction below $1,200 against the US Dollar. ETH price is down 20%, but is approaching a crucial support at $1,000 and the 100 hourly simple moving average. Ethereum failed to stay above the $1,200 support and declined heavily below $1,150. The price is down 20%, and it is approaching the […]