Bitcoin Breaks To The Downside  Following Another Failure At Resistance

Bitcoin Breaks To The Downside Following Another Failure At Resistance

Despite a relatively slow market over the past few weeks due to the “summer doldrums,” it now appears as though volatility is making a slow return on both the upside and the downside. With that in mind, the technicals remain key in this environment. Last week when we returned from the Labor Day holiday in the US, the Bitcoin markets decided to take a jaunt to the upside to test what has been heavy resistance in the $630 area for over a month. Despite staying elevated for the better part of the week, this weekend brought a round of technical selling which took the price from the mid-$620’s....


Related News

Dogecoin Price Technical Analysis - Sell Until Trend Line Breaks?

Dogecoin price looks like a sell around the bearish trend line, and as long as it is below it the chances of an upside move is very less. We were looking to buy with a break above a bearish trend line formed on the hourly chart (data feed from HitBTC). However, there was no break above the trend line and resistance area, and on the other hand, there was a failure causing a sharp downside reaction. The price traded lower and tested the last swing low of 29.0 Satoshis. Thankfully, buyers appeared around the stated level to stall losses. The price is currently moving back higher, but again....

More Pain for Bitcoin Ahead as Price Breaks “Legacy Trendline,” Says Analyst

Bitcoin (BTC) is at risk of extending its ongoing downside correction as it breaks below a so-called “legacy trendline.” As spotted by an independent, pseudonymous chart analyst, the said trendline was acting as a support to Bitcoin since March 2020. On September 30, the BTC/USD exchange rate fell below the price floor and flipped the Ascending Trendline into resistance. The pair lately tested it twice for an upside breakout, but with no success. The TradingView […]

Dash Price Technical Analysis - Downside Reaction

Key Highlights. Dash price is under pressure as sellers managed to clear an important support at 0.01195BTC. A bullish trend line on the hourly chart was breached to take the price lower. Buyers might struggle moving ahead if sellers manage to gain momentum. Dash price is vulnerable to more losses, and if it breaks below the 100 hourly simple moving average, a test of 0.0115BTC is likely. Trend Line break and Reversal. There was an anticipation of an upside move as long as the bullish trend line as highlighted in the yesterday's analysis holds. However, Dash price moved lower recently and....

Ethereum Classic Price Technical Analysis –ETC/BTC Breaks Support

Ethereum classic price once again failed to retain the bullish momentum against the Bitcoin, and moved down below the 0.00121BTC support area. Key Highlights. Ethereum classic price consolidating for some time against the Bitcoin breaks a short-term support area. Yesterday’s highlighted bullish trend line on the hourly chart of ETC/BTC (data feed via Simplefx) was broken to ignite a downside move. The broken trend line support at 0.00121BTC may now act as a resistance. Ethereum Classic Price Resistance. ETC price again failed to climb higher, as the 0.00127BTC resistance against the....

TA: Ethereum Bears Keep Pushing, Why ETH Could Slide Further

Ethereum failed to clear the $3,650 resistance against the US Dollar. ETH price is moving lower and it might extend its decline below $3,450 in the near term. Ethereum struggled to gain strength above the $3,600 and $3,620 levels. The price is now trading below $3,550 and the 100 hourly simple moving average. There is a key declining channel forming with resistance near $3,550 on the hourly chart of ETH/USD (data feed via Kraken). The pair could slide towards $3,350 unless it breaks the $3,550 resistance zone. Ethereum Price Faces Hurdles Ethereum failed to settle above the $3,600 pivot....