Bitcoin Approaches 2018 Like Drawdown, Why $20,000 Is A Crucial Level
Bitcoin has been moving sideways around its current levels with no clear direction on lower timeframes. The cryptocurrency has experienced its worst-selling pressure in years but has held firmly around its 2017 all-time high. Related Reading | Crypto Trading Volumes In India Sink Due To Heavy Taxation, What’s Ahead? At the time of writing, Bitcoin trades at $20,140 with a 4% profit in the last 24 hours. The general sentiment in the market has been turning more positive, as NewsBTC reported yesterday, as the Crypto Fear and Greed Index climbs back from Extreme Fear levels. According to....
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Ethereum’s price has been consolidating alongside Bitcoin’s throughout the past few days, with buyers and sellers reaching an impasse This has come about as the entire cryptocurrency market struggles to find any significant directionality Where the market trends next will likely depend on Bitcoin, which has been performing quite well despite a myriad of bearish news developments ETH’s consolidation phase has grown quite narrow as of late, and it remains stuck below a crucial level […]
Yearn.finance’s YFI governance token has been sliding lower throughout the past week, with sellers being in full control of its price trend as its buying pressure evaporates. This has caused the cryptocurrency to break below multiple crucial support levels that had previously been acting as robust support. Although it is now trading above what many […]
Bitcoin has faced a strong correction over the past few days after peaking at $11,200 last week. At the recent lows, BTC traded for $10,200, meaning it had dropped over $1,000 from those highs. The coin now trades at $10,500 as of this article’s writing, technically in no man’s land. A trader thinks that the prevailing trend is still bullish because the cryptocurrency held a pivotal support level during the drop. Other signs also show […]
A quant has pointed out the similarities between the 2017 and 2021 Bitcoin cycles, something that could hint at how the rest of this bear market might play out. Both 2017 And 2021 Bitcoin Cycles Saw New Lows Around The 365-Day Mark Since The Top As explained by an analyst in a CryptoQuant post, the two cycles are more similar than one might expect them to be. The indicator of relevance here is the “drawdown from ATH,” which measures the percentage decrease in the price of Bitcoin following the all-time high during each cycle. Here is a chart that shows the trend in this metric....
Ethereum is stuck in a crucial range above the $382 support against the US Dollar. ETH price could either jump above $392 or it might nosedive below $380. Ethereum is struggling to stay above the key $382 and $380 support levels. The price is currently trading in a range above the $382 support and below […]