Bitcoin Slips Under 200-Day Moving Average – Will The Downtrend Continue?
Bitcoin (BTC) has dropped 11.3% over the past week, currently trading in the low $80,000 range at the time of writing. The recent decline has pushed the leading cryptocurrency below the 200-day moving average (MA), raising concerns about a potential deeper pullback. Bitcoin Must Defend This Key Price Level According to an X post by seasoned crypto analyst Ali Martinez, BTC is now trading below the 200-day MA, a key price level that has historically functioned as a strong support for the top digital asset. Related Reading: Bitcoin Sellers Incur Loss As SOPR Drops To 0.95 – A Sign Of Market....
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2015 started with a decline in the price of BTC/USD, which was bad news to all BTC traders and speculators. The New Year's downtrend continued until it reached 265.24$ which is a point of support. "Bullish engulfing" could be noted on the BTC/USD 4 hour chart (The arrow points to the sign in the chart), which signaled a reversal in the downtrend and BTC/USD exceeded 300$ on the 7th of January, which can represent a 50% correction of the downtrend starting earlier this month. The price of BTC/USD is likely to fall again before we can see a reversal of the current downtrend. A "bearish....
This key moving average convergence is a strong signal that the market is shifting from bearish to bullish. The most important aspect in trading is to correctly identify the long-term trend. Once this is done, the rest of the steps are not very difficult because all a trader needs to do is look for buying opportunities in an uptrend and selling opportunities in a downtrend. In reality, many traders complicate the process by waiting for lower levels to buy in a bull market and missing a large portion of the rally. Then, when the trend reverses and the price starts falling, the same traders....
The crypto market is experiencing a significant downturn this week, driven by growing concerns over a potential trade war and disappointment surrounding the US government’s crypto reserve plans. A recent interview with President Donald Trump, in which he hinted at the possibility of a recession, has further unsettled investors. Crypto Market Plummets: XRP, Solana, And Cardano Follow Bitcoin’s Downtrend Bitcoin, the flagship cryptocurrency, has fallen nearly 4% in the last 24 hours, dropping toward the $79,000 mark—a level not seen since mid-November. Ethereum (ETH), has taken a....
Bitcoin Price Key Highlights. Bitcoin's price appears to be having trouble sustaining its climb, as it is testing the ceiling at the latest highs. If this area continues to hold as resistance, the Bitcoin price could complete a double top pattern with a neckline at $400. Bitcoin's price is undergoing weaker bullish momentum, with a return in selling pressure likely to spur a continued selloff. Potential Downtrend. A break below the possible double top neckline could set off a longer-term downtrend for the Bitcoin price, likely taking it down to the next area of interest around $300-350.....
Ethereum price failed to continue higher above the $2,880 resistance. ETH is now moving lower and might slip further toward the $2,320 support. Ethereum started a fresh decline below the $2,700 level. The price is trading below $2,700 and the 100-hourly Simple Moving Average. There is a connecting bearish trend line forming with resistance at $2,680 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline if it stays below the $2,700 level. Ethereum Price Recovery Fades Ethereum price started a recovery wave above the $2,650 level, like Bitcoin. ETH was....