Bitcoin price risks even bigger pullback in Q4 after sharp rejections
Bitcoin risks a larger pullback in the fourth quarter due to the confluence of bearish technical structures and macro uncertainty. Bitcoin price is showing weakness after another sharp rejection from the $11,000 resistance level. As Bitcoin (BTC) enters the fourth quarter, the sentiment around the market remains generally cautious and neutral.Bitcoin might face a larger pullback in the fourth quarter due to several key factors. Throughout the past three years, every September monthly candle has closed red. The September monthly candle for 2020 is also on track to close as a red candle,....
Related News
Bitcoin has been struggling to maintain its immense momentum following the multiple rejections seen at $16,000 It is now consolidating within the lower-$15,000 region, with bulls struggling to hold it above this level as it continues slowly drifting lower It did see a sharp rebound from its overnight lows of $14,800 that were set during yesterday’s selloff, with the support here being significant That being said, the multitude of rejections at $16,000 hasn’t bode well […]
Traders are becoming cautious about Bitcoin price after repeated rejections at the $11,500 level following the recent rally. After the price of Bitcoin (BTC) achieved $11,720 on Binance, traders began to turn slightly skeptical on the dominant cryptocurrency. Despite the initial breakout above two key resistance levels at $11,300 and $11,500, BTC recorded several rejections. While it might be premature to predict a marketwide correction, the level of uncertainty in the market seems to be rising.In the short term, traders pinpoint the $11,200 to $11,325 range as a critical support area. If....
The CEO of Commonwealth Bank of Australia (CBA), the country’s largest bank, sees big risks in not participating in cryptocurrency. “We see risks in participating, but we see bigger risks in not participating,” he explained.
Crypto FOMO, Banks Need to Get Involved, Says CEO of Commonwealth Bank
Commonwealth Bank of Australia CEO Matt Comyn talked about the fear of missing out (FOMO) when it comes to bitcoin and cryptocurrency in an interview with Bloomberg Television in Sydney Thursday. Commonwealth Bank, or Commbank, is an Australian multinational bank with....
Bitcoin price suffered a sharp crash upon hitting a strong ceiling, inspiring a major pullback that could revive bullish interest. Bitcoin Price Key Highlights. Bitcoin price made a sharp much-needed tumble after price hit record highs around the $1200 area. As predicted in an earlier article, that long-term resistance level is likely to inspire a lot of profit-taking that might unwind the cryptocurrency’s gains. Price is still trending higher on the daily chart, though, and bulls might be eager to hop in the climb at these bargain prices. Technical Indicators Signals. The 100 SMA is....
“We see risks in participating, but we see bigger risks in not participating,” said CBA CEO Matt Comyn on the bank’s recent crypto adoption play. Matt Comyn, the CEO of the Commonwealth Bank of Australia (CBA), said that the bank is more concerned about the risks of missing out on crypto than those associated with its adoption. The CBA is set to become the first of the “big four” banks in Australia to offer crypto-based services, after the company announced on Nov. 3 that it will support the trading of 10 digital assets directly via its banking app. Speaking with Bloomberg TV on Friday,....