Bitcoin Loses Momentum, Why $40k Is A Key Level For Future Gains
Bitcoin has been rejected near the $44,000 price and has been moving sideways since earlier this week. The benchmark crypto could make another attempt to break this resistance levels but will most likely remain range bound until $50,000 and $53,000 are reclaim. Related Reading | Bitcoin Aims For $48K? BTC Reacts Upward To U.S. Inflation Report As of press time, Bitcoin trades at $42,341 with a 3.5% loss in the past day. BTC’s price has performed positively after the U.S. Consumer Price Index (CPI) print, a metric used to measure inflation. Before the report came out, the order book....
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Bitcoin price is back below $55,000, unable to keep its bullish momentum it had leading into the Coinbase Global listing. Since then, things have turned down. The fall back below $60,000 has with it also taken the coin below a critical life-saving support level that’s been untouched since late 2020. Bitcoin Loses Life-Saving Support Level, […]
Seven days ago Bitcoin’s network difficulty saw the largest drop in nine years as it slid over 16% last week. Similar to the crypto asset’s price, the hashrate has been extremely volatile according to statistics. After dropping to 111 exahash per second (EH/s), the network hashrate spiked a whopping 45% on Tuesday morning to 161 EH/s before sliding back to 120 EH/s. Bitcoin’s hashrate, much like the price of bitcoin (BTC), has been jumping around during the last few days. The crypto asset’s hashrate is the measurement of processing power pointed at the network. In....
Bitcoin price gained momentum and settled above the $57,000 level against the US Dollar. BTC is likely to break the $58,500 resistance and start a strong rally. Bitcoin started a steady increase and it broke the $56,500 resistance zone. The price is now trading well above the $56,000 level and the 100 hourly simple moving […]
Pursuant to my earlier analysis titled Roadblocks Ahead, Litecoin continues to face pressure near the marked resistance level. After collapsing to a six-week low of $1.60, the cryptocurrency has managed to recover some lost ground, and is currently trading at $1.80. With this, Litecoin has managed to just edge above the Resistance Line 1, which represents a value of $1.79. The technical indicators overlaid on the 240-minute LTC/USD price chart signify that some more gains can follow the rebound. Momentum - It was earlier mentioned that the Momentum indicator was maintaining a downward....
Yesterday evening, in our twice daily bitcoin price watch piece, we published our take on the bitcoin price for the evening session. We hypothesized that - on the back of the momentum we had seen throughout the majority of the last few weeks, we would see further bullish momentum. If we did, we suggested we would enter towards 400 flat as an immediate upside target. We also noted that this level would likely serve up some interim resistance (primarily because of the psychology of such a key level. As it has turned out, one of our hypothesis turned out correct, and the other not so much.....