Bitcoin price dips 14% in August as trader warns of ‘macro drop down’
Bias is trending towards ever lower levels for Bitcoin after BTC price performance fails to preserve $20,000 at the August close. Bitcoin (BTC) has sealed its worst August performance since 2015 after the monthly candle closed down 13.9%.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewWeekly candle "doesn't look good"Data from Cointelegraph Markets Pro and TradingView confirms that BTC/USD finished the month at $19,990.A knock to bulls’ efforts to stabilize spot price, the August close was only the second monthly candle finish below the $20,000 mark (depending on the exchange....
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Bitcoin has undergone a strong rejection over recent weeks. The coin, after peaking at $12,500 in August, dropped as low as $9,800 earlier this month. The coin now trades at $10,400 — still over $2,000 below the year-to-date highs. While this was a steep drop, not everyone thinks that this is it for Bitcoin’s bull trend. Bitcoin Holds Crucial Macro Level One crypto trader recently shared the chart below on September 22nd, noting that Bitcoin […]
A simple look back at past BTC price dips means that a 55% correction from all-time highs is on the table, says Carter Worth. Bitcoin (BTC) could drop to $29,000 and still be testing current support in line with past dips, claims CNBC’s “Chartmaster.”In an appearance on the network’s Fast Money segment on Monday, Carter Worth, chief market technician of Cornerstone Macro, warned that the BTC bottom may be far from in.Pick your average for a Bitcoin price floorAnalyzing recent price activity and comparing it to past Bitcoin bottoms, Worth said that current levels at around $45,000 represent....
Veteran trader Peter Brandt has warned that bitcoin’s price corrections have taken many months in the past and it may take some time for the price of the cryptocurrency to hit another all-time high. He criticized bitcoin’s proponents for constantly hyping the crypto regardless of the price.
Peter Brandt Warns It May Take Some Time for Another Bitcoin Peak
Veteran trader Peter Brandt cautioned investors Thursday that it could take some time for the price of bitcoin to reach another all-time high.
Brandt has been a futures and FX career trader since....
Ethereum has dropped around 30% from its recent year-to-date highs after the U.S. dollar underwent a bounce. The leading cryptocurrency currently trades for $370, $120 shy of the $490 highs, but fell as low as $315. Ethereum remains in a positive state on a macro time frame, analysts say. One trader, a leading trader on Binance’s futures platform, expects the cryptocurrency to soon enter a parabolic uptrend. His assertion has been echoed by another top […]
It's Sunday again, meaning it's time for another Bitcoin News in Review, where we check out some of the top stories of the week here on CryptoCoins News. This week (10 August - 17 August), we saw a huge drop in the Bitcoin price, more news regarding Mt. Gox, an interesting take on cloud mining, and more. Check out our video and keep scrolling for this Bitcoin News in Review. What's Happening to the Bitcoin Price? After a brief period of stability, it looks like volatility is back. At the time of this writing, one Bitcoin is worth ~$497, an almost $100 drop since last week. A lot of times,....