Bitcoin May Be Stalling Here
I wrote an article just yesterday in which I suggested a target of $1,000 was on the horizon for bitcoin. Taking my own advice, I went long as a result of that analysis. However, I have since closed that long position as a result of subtle indications on the 2 hour chart that support might be failing. As you can see, when price fell, price bounced odd the 2nd arc and re-entered the sphere of the 1st arc. The arc provided support for several candles. This was the bullish event that led me to believe that another bitcoin rally was likely beginning. However, at the red arrow, the 1st arc....
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Bitcoin price could be in for more volatility today as US traders return from their Fourth of July holiday. Bitcoin Price Key Highlights. Bitcoin price continues to trend higher, still inside its ascending channel pattern visible on the 1hour time frame. However, price seems to be stalling at an area of interest around the middle of the channel. If this holds as resistance, bitcoin price could be in for another test of support around $650. Technical Indicators Signals. The 100 SMA is still above the 200 SMA so the path of least resistance is to the upside. The 100 SMA lines up with the....
Bitcoin price is having trouble breaking past this area of interest visible on the daily time frame as technical indicators are giving mixed signals. Bitcoin Price Key Highlights. Bitcoin price is still stuck in consolidation on its short-term time frames and looking at the daily chart shows why. Price is actually stalling below a former support zone around the $600-620 area, which might continue to hold as resistance. Price is also encountering a bit of a ceiling around its 100 SMA on the longer-term chart. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this....
With BTC stalling and the price of silver soaring to eight-year highs, CoinDesk’s Market Daily is back with the latest news roundup.
April has seen a stellar run from BNB, growing 86% in less than two weeks and hitting an all-time high today. Over the same period, its market cap has near doubled from $49bn to $96bn. While this is still just over a third of Ethereum’s market cap, a stalling ETH 2.0 rollout schedule has observers […]