3 convincing signs the Bitcoin bears have stopped selling
BTC price rebounding back to $40,000 is just one of the few signs that the bears may be exhausted. The price of Bitcoin surged higher on May 26, breaching the $40,000 level for the first time in five days as traders brushed aside concerns about China's crypto ban and the United States' crypto tax proposal.The benchmark cryptocurrency reached an intraday high of $40,855 before turning lower owing to profit-taking sentiment. In the meantime, analysts such as Cheds and Korous AK expect BTC/USD to hit $42,000 in the short term but advised caution on extended upside positions unless the spot....
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Ethereum is currently oscillating between highs of $345 and lows of $336 as its bulls and bears reach an impasse The cryptocurrency has been unable to see any relief following the massive influx of selling pressure that stopped it from seeing any further gains It is still trading well above its multi-week lows of $320, but growing weakness is putting its current stability in jeopardy One analyst explained in a recent tweet that he expects […]
After a short bout of trading above $11,000, Bitcoin has witnessed massive inflows of selling pressure that have slowed its ascent and stopped it from seeing any major upside The cryptocurrency is now at grave risk of seeing further losses, with analysts noting that it may soon visit its key $10,200 support A break below this level could lead to serious losses, with bears potentially moving to fill the CME gap that exists around $9,700 […]
Bitcoin has finished its downward rebound wave. The price has stopped at a key level, where the market is going to choose a direction. Will the downward movement continue? A key resistance line of $454 is responsible for the structure of the downward trend. Bitcoin’s price has stopped at that level, as it’s dominated by active bears. That’s why the structure of the downward trend can be disrupted at that mark. The advantage of the bulls will be able to be seen by the structure of the price. If the bears are a majority, the price will be less likely to form a wave of turn to growth at the....
As regular readers of this column will realize, we have been discussing the $1020-1030 area for several weeks as a likely place to see a possible trading opportunity on the short side. Well, we are now there. Bitcoin price hit the top of the 5th square on a shorter-term setup on the daily chart. There are many reasons to justify going short here, but I tell you honestly, I just can’t bring myself to do it yet. For reasons visible on a 2-hour chart (not shown) I will consider shorting when/if we get a close below $1000. In the meantime, I closed my long position already. If we get a....
Litecoin price traded near $3.40 this past week. However, it found resistance near the stated level and now looks set for a decline. Intraday Support Level can be $3.22. Intraday Resistance Level may be $3.40. Litecoin price after trading as low as $3.10 found support and recovered a few points to trade near $3.40 where it found bears. There is a bearish trend line formed on the 4-hours (data feed via Kraken), which acted as a hurdle for more upsides and prevented gains around $3.40. There was a lot of selling pressure noted around $3.40 since the 61.8% Fib retracement level of the last....