Bears and Bulls Continue to Battle Over Bitcoin Price
The price of bitcoin has fallen since our last piece, this time hovering around $573 at press time. Some feel this was to be expected: things haven’t taken much of a turn since the Bitfinex hack, and news regarding Russia’s latest stance on bitcoin has been slow to hit home. Continued Uncertainty in Bitcoin Markets. One source describes the lack of activity: “Overnight action was relatively flat, and we didn’t manage to get into any positions with the range we had highlighted.” Since last week, no significant changes have occurred in bitcoin’s status, but the analyst remains hopeful:....
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Bitcoin is trading relatively flat since yesterday as bulls and bears sweat it out to turn the battle in their favor. However, none of them has been able to make a considerable impact until now. Bitcoin dropped after hitting resistance, and the price took support from the recent low of $226.83. Bitcoin is presently consolidating near $228.57. Technical analysis of the 240-minute BTC-USD price chart confirms that the current scenario evenly favors both the bulls and the bears. Bitcoin Chart Structure - The chart above clearly tells that the cryptocurrency is trapped inside a thin range of....
Bitcoin price struggles to hold support at $20,000, and the outcome of this battle between bulls and bears will determine the next directional move. The sharp fall in cryptocurrencies has pulled the total crypto market capitalization below $900 billion. According to CoinGoLive, 72 out of the top 100 tokens have declined in excess of 90% from their all-time highs. In comparison, the top-10 coins have outperformed during the fall, dropping an average of 79% from their all-time high. Bitcoin (BTC) is down more than 70% from its all-time high but the bulls are struggling to arrest the decline.....
A Uniswap (UNI) recent market downturn has forced UNI’s trading range to shrink significantly. During the bull market in July, UNI jumped by more than 60 percent in just over two days, prompting the subsequent fall. After this price increase, the weeks that followed showed a reversal pattern known as a “head and shoulders,” which eventually led to a price decline. The price showed significant volatility over a 16-day period, as evidenced by the market’s historical statistics. This volatility pointed to a fierce battle between bulls and bears. Related Reading: Terra....
The bulls prevent Ethereum’s price from falling. Their active support could provoke the bears into giving up on their positions and thus leading to Ethereum’s growth. How long will this sideway movement continue? Ethereum’s price is forming a flat between two important resistance lines. The bulls’ support is clear at $10. The volume has accumulated at exactly that level, from which Ethereum’s price has been rebounding and moving up. The same can be said about the $14 mark. A similar situation is present at that level, albeit it favors the bears. They are not allowing Ethereum to grow by....