Bitcoin Price Under Pressure
Bitcoin price decline reversed at $380 (Bitstamp), yesterday, and is currently running into upside resistance. It is still too soon after the last strong wave down to confidently call the next move, and analysis suggests staying out of the market until the present chart indications resolve. The xbt.social trade recommendation from $433 (Bitstamp) is now closed, since its dynamic stop loss was triggered when price returned to the 4-hour 200MA a few minutes ago. The closing price was Bitstamp $404. Last night’s drop below the 4-hour 200MA was fast and determined and hit exactly to the lower....
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In the short term, the answer is yes. Despite numerous encouraging announcements in the cryptocurrency industry, Bitcoin faces downward price pressure in the near term. Some of this downward pressure is inherent, as roughly 3600 Bitcoins are mined per day. Taking it a step further, at a price of $300 per Bitcoin, $1,080,000 of new Bitcoin must be purchased every day to maintain the current price. Bitcoin will need to live through another block halving or two before it has a chance of becoming the deflationary asset many of us look forward to. Another short term cause of downward price....
Key Highlights. Dogecoin price moved lower and tested the last swing low of 36.5 Satoshis as forecasted in yesterday's post. The price even traded below the mentioned level as sellers succeeded in breaking it to form a new low of 34.7 Satoshis. The price is still under the bearish pressure, and the idea to sell rallies look like a good deal. Dogecoin price formed a new low below 35.0 Satohis, as the bearish pressure overwhelmed buyers who failed to take the price higher. Selling Rallies a Good Idea? The Dogecoin price continued to move lower as there was a lot of bearish pressure as....
After surging above the $0.51 mark on Monday, the XRP price has been on a decline once more. This has seen the asset drop back below $0.49 as obvious selling pressure continues to mount on the altcoin. The major focus of holders has been on where this sell pressure is coming from and a number […]
As all recent charts indicate, the bitcoin price isn't doing that well as bears seem to dominate the market. The sudden buy pressure that we've started seeing after the bitcoin price started falling below the support level of $220 might result in another correction. It's Bears vs Bulls once again. It's still hard to make out if the bulls managed to overcome the bears after the support level of $220 was breached. However, it's clear that most positive btc price spikes today were met with a negative overturn despite the healthy buy activity. As seen on the chart below, the price only managed....
Dogecoin Price Key Highlights. Dogecoin price continued to remain under the bearish pressure after a critical break below 50.0 Satoshis. There was a nasty move down, which took the price lower, but it was limited due to buyers putting up a fight. A recovery in underway, but it looks like buyers are struggling to hold the ground. Dogecoin price is under a bearish pressure, as there are many hurdles on the way up, and puts it on the risk of a down-move. Retest of lows? There was a break below a major support area of 50.0 Satoshis, as highlighted in yesterday's post. The downside was as....