Bitcoin Price Tests Critical Support Levels
The realized price of bitcoin is around $24,000 and a lack of long-term holder capitulation means there is potentially more downside to come.The below is an excerpt from a recent edition of Bitcoin Magazine Pro, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.In a previous issue, we highlighted that based on the level of realized losses, unrealized losses and capitulation trends in the past, we had yet to see a bear case capitulation play out: “The key on-chain....
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Yesterday, there were a couple of attempts by sellers to take Litecoin price down, but they failed. As a result, buyers stepped in and took the price higher. The most important point was the fact that the price managed to climb above a few critical resistance levels. First, there was a major bearish trend line on the hourly chart via the data feed from Bitfinex, which was broken during the upside drift. Moreover, the price also closed successfully above the 100 hourly simple moving average. A new weekly high was formed near $3.64 where the upside was stalled. There is a chance that the....
In yesterday's bitcoin price watch piece, we highlighted the levels that we were keeping an eye on in the bitcoin price throughout Thursday evening, and suggested a couple of the levels would be watching as we entered into this morning's session. We also suggested how we might respond to price reaching these levels, and presented our readers with a couple of trade entries and potential risk management parameters that would serve to offer us opportunity in the markets. Now action has matured overnight, what are the levels we are keeping an eye on in the bitcoin price, and how can we draw....
Bulls are having problems reclaiming lost support levels, but $30,000 remains a solid foundation for Bitcoin's trading range. Bitcoin (BTC) failed to crack $33,000 on July 14 as a bounce from multi-day lows delivered only modest progress.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC price: Fits and starts below $33,000Data from Cointelegraph Markets Pro and TradingView tracked another day of ranging — albeit with increased volatility — for BTC/USD on Wednesday.The pair briefly touched $31,750 overnight before a sharp rebound produced highs of $32,970. This meant that....
Here's a look at what we are focusing on in the bitcoin price this evening. Action today has been pretty flat, and we’ve not had too much opportunity to get in and out of the markets according to the levels we outlined this morning. Price ranged sideways for the majority of the European session, and while we got the odd break, it didn’t last, and price returned to close back within the range before the candle closed out, so we didn’t get in on the break. It can be frustrating sometimes when we don’t get in on the breaks, especially when we see volume, but there’s a silver lining. When....