Is Bitcoin Price Doomed For $93K? Technical Indicators Paint A Bearish Image
The Bitcoin price has not quite been able to maintain the bullish momentum that saw it climb to a new all-time high last week. Instead, the premier cryptocurrency has succumbed to bearish pressure over the past few days, falling about 7% from its record-high price. Unfortunately, the Bitcoin price seems to be at the start of what could be a disappointing downward run over the coming weeks. The latest technical price data indicate a potential bearish trend reversal for the price of BTC, with the market leader at risk of losing its six-figure valuation. Which Technical Indicators Are....
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Bitcoin price looks ready continue is dive on a break of this bearish continuation pattern, with technicals signaling further declines. Bitcoin Price Key Highlights. Bitcoin price recently made a sharp break below a short-term consolidation pattern, which means that sellers have taken control. Price seems to have formed a bearish continuation signal as more sellers could take it down. Technical indicators are also confirming that selling pressure is mounting. Technical Indicators Signals. The 100 SMA is moving below the longer-term 200 SMA, confirming that the path of least resistance is....
In line with our yesterday's bearish call, Ethereum has cracked the important support level of 0.002BTC as bitcoin shows strong positive signs. With the breach, Ethereum has dropped roughly 3% to trade at 0.00198BTC. It touched an intraday low of 0.00194BTC. The pain is clearly not over for Ethereum; the momentum and the strength indicators have taken drastic cuts, and the price may see 0.0019BTC before short-sellers cover their positions. Take a look at the latest technical considerations from the 4-h ETH-XBT price chart taken from the KRAKEN exchange. Image. Chart Structure - Although....
The XRP price has depreciated considerably over the last 24 hours. The price of the altcoin continues to totter near the $0.47 price mark. The bears seem to be back on the charts for XRP. Over the last 24 hours, the XRP price fell by 4.12%. On the other hand, the coin has rallied by over 30% in the past week. The technical indicators of the altcoin also started to paint bearish price action on the one-day chart. The bulls have lost steam in the past week owing to an increase in selling strength in the market. The indicators have yet to move into the excess selling zone, but the major....
Bitcoin (BTC) is currently experiencing increasing bearish pressure, with technical indicators suggesting a potential decline toward the $63,316 mark. This price drop is driven by factors such as weakening momentum and decreasing trading volume. As Bitcoin targets the $63,316 mark, Investors and analysts are closely monitoring this development, as it may indicate further declines and set the stage for BTC to test lower support levels. This article analyzes Bitcoin’s current price movements and technical indicators signaling a potential further decline for the cryptocurrency focusing....
While fundamental analysts predict a continued rally to $1000 and beyond for the foreseeable future, technical indicators paint a more detailed picture. According to the charts, the ride up to $1000 will be bumpy, with periods of profit taking and resistance, especially around the $800 range. Almost at the $820 technical objective level, a distribution zone could take place with a trading box among this resistance and $600. Indicators reflect fiction prices at this level, with irregular trading volume because of the distribution activity depending on the fresh demand of new holders.....