Bitcoin Price Correction Nearing It’s End
We warned in our last column on Bitcoin that the correction had not yet ended. I suggested that there was likely several more days of pain coming for the bulls. The reasons were many, but one of them was that the rise had simply been too steep and too long without a meaningful correction for it to be over in just a day or two. Well, the bottom fell out yesterday. Is that the end of it, or is there more to come? Here we see that the present fall is testing the 4th arc pair for support at 766. Price is also at the same level as a recent swing high. That support could hold, but I am not....
Related News
The XRP price is nearing the final stages of an ABC correction, potentially setting the stage for a strong recovery. According to a crypto analyst, the XRP price may decline further before making a move to the upside. As the final leg unfolds, the altcoin may soon present new price targets for a compelling buying […]
Bitcoin is once again testing investor conviction as it fights to stay above the $110,000 level following last Friday’s sharp correction that triggered a massive leverage wipeout across the market. After one of the most volatile sessions of the quarter, traders are watching closely to see whether BTC can stabilize or if more downside pressure […]
Bitcoin has formed a flat above a key level. The probability of the movement continuing is increasing. The main trend is upward. The current upward trend has not been disrupted yet. Bitcoin’s price has formed a flat above the $518 resistance line. The resistance, which we have found earlier, has been confirmed several times already. These upward rebounds from $518 do confirm that there is a correction towards the upward trend. The market is nearing a resolution, as the probability of a new trend grows with a new wave of the flat. Bitcoin’s price reaching a new diagonal channel is also....
Bitcoin Price Key Highlights. As predicted in an earlier article, bitcoin price enjoyed additional volatility during the release of top-tier jobs data from the US last week. Since the actual data came in much stronger than expected and revived hopes of a Fed interest rate hike in December, the US dollar held on to its gains and kept bitcoin price in correction mode. Bitcoin price could pull back to the lower Fibonacci retracement levels, with technical indicators suggesting that the corrective wave is still in play. Area of Interest at 61.8% Fib. In particular, the 61.8% Fibonacci....
Bitcoin is rebounding from last week's lows and is nearing $60,000 once again. The price of Bitcoin (BTC) saw a correction in the run-up to the record options expiry last Friday. However, nothing happened despite some expecting a massive move on the same day. The actual correction occurred before the event. On the day itself, Bitcoin’s price has bottomed out and began to rally.The ongoing rally above $59,000 is being fueled by bullish news from Visa and PayPal as both are getting into Bitcoin and cryptocurrency payments. Put differently, the market is very much in the middle of the bull....