Bitcoin Price Pop And Fizzle
Bitcoin price pushed through an important trendline intersection yesterday but launchpad staff had failed to fuel the tanks. A pop and fizzle is all we got. Traders can sheath their arrows until the next chart signal. The halving event had created a sense of optimism that price would rally, and when price pushed above a upside constraining trendline, yesterday, it seemed a new wave to the previous high would erupt. However, all the market could manage was a fake-out to the upside. The chart technicals were bullish yesterday, but have now lost strength and the outlook, therefore, is for....
Related News
The three co-founders of Collider Ventures agree Israel’s vibrant crypto industry waned, yet didn’t fizzle, throughout 2020.
XRP emerged as the best-performing cryptocurrency in the last 24 hours after staying quiet for weeks. The fourth-largest crypto added up to $0.02, or 9.28 percent, to establish an intraday high at $0.254. While the gains appeared almost in sync with the rest of the cryptocurrency market, they propelled higher as Ripple Labs, XRP’s parent […]
Another slight drop has hit Bitcoin. Following our recent price piece, the bitcoin price is hovering around $664 at press time. That’s a fall of about eight dollars; nothing to panic about, but it’s still disappointing. Could Trump Build a Wall of Bitcoin Support if Elected? When describing bitcoin’s lack of action over the last week, one source explains the coin as something that “pops and fizzles”: “Bitcoin price pushed through an important trend-line intersection yesterday, but launch pad staff had failed to fuel the tanks. A pop and fizzle is all we got. Traders can sheath their arrows....
Apparent price breakouts are occurring with greater frequency as the Bitcoin price chart is shunted this way and that by concentrated forces inside a narrow consolidation channel. The bears are convinced price is about to drop to the floor. The bulls are stacking orders for a spectacular rally. Best to buy one ticket for each show. 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 Value and Price Analysis. Time of analysis: 15h59 UTC. BTC-China 4-Hour Chart. Why The....
In the conclusion of the previous Bitcoin price technical analysis And Here Comes the Rebound, I stated that the current relief rally in Bitcoin will fizzle out very soon and that the market participants should be prepared to create short positions. We have seen this happen in yesterday's trading session where attempts made by the bulls to scale higher were undone by profit booking and renewed selling pressure. Bitcoin is currently trading flat at $224, after racing to an intraday high of $231.09 and is now expected to trend lower in the coming sessions. Bitcoin will witness a greater....