Bitcoin Rebounds After Dropping To $59,000 Level — Path To New Peak?
Bitcoin has been endeavoring to shift its trajectory from a downturn to an upswing. However, despite its efforts, the coin has remained on a downward trend for several days following its inability to surpass its previous all-time high of $73,833. Will Bitcoin Continue Upward After This Rejection? At the time of writing, the price of […]
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The price has bounced off an important level without turning about. Is that a signal of a continuation of the trend? Will the upward trend continue? Without holding at the level of $416, Bitcoin’s price has once again followed the ongoing trend. The Bulls are holding the advantage so far. Until a turnabout happens at the $416 mark, the upward trend will continue. Why is the $416 level so important? If you analyze the upward trend as a whole, including its rebounds, you’ll see that the peak of the new rebound is exactly at the point of $416. Hence, it’s the most profitable price for Bullish....
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Altcoins are in a downward trend. How strong is that trend, and for how long will the fall continue? At which levels are the current trends most likely to change? ETH/USD. Ethereum’s price has went along the downward scenario and formed the third wave of decline. The key level for that scenario was at $10.3. Ethereum’s price is at a key long-term resistance line, where rebounds usually happen. The critical level for a rebound is the line with the largest accumulated trading volume, somewhere around $10. If the coin’s price manages to fortify at that level and form a turn to growth, there....
Ethereum is forming a short-term trend, which is also a wave of a medium-term flat. The price has approached the top limit of that flat. Will there be a downward rebound? On Friday, we found the level of $14, where Ethereum’s price formed a turn to decline within a correction toward the whole upward movement, which started at $10. There were short rebounds within that medium-term movement, which means that the downward movement is highly limited. A flat usually forms under such limiting circumstances. The market will choose the future medium-term direction while inside that flat. A drop to....
Bitcoin saw a sharp overnight decline that came about following a period of immense strength This sent the token reeling down to the $18,000 level, which has long been strong support for the cryptocurrency Where it trends next will depend largely on whether or not it can continue holding above the support it has found at this key price level One trader is pointing to just how aggressively this dip was bought, which indicates that […]