3 Reasons Why Bitcoin Could Retrace Back to $34,000 This Week
Bitcoin dived by as much as 16.33 percent on Monday, almost inching closer to log its worst single-day performance since March 202o.
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All the way up until around mid-2020, Chainlink was the hottest crypto token around. But once Bitcoin broke above $10,000 months ago, the altcoin’s uptrend against the top cryptocurrency was broken. Following a full 50% retrace of the rally against BTC, Chainlink is now “ready to continue,” according to one crypto analyst. Here’s what that […]
The bitcoin price should make a sharp jump above $420 resistance level this week, and looks bullish at least for the near short term. The target for a continued upward trend is $440, a level dating back to February 14 2016. A declining sloping trend line cuts right around $440, and some more resistance should kick in. This resistance will likely push back on price and force it to retrace to $420. Beyond the short term, price looks bullish having maintained 2015’s trading range. The BitcoinAverage Breakdown. The above 6 hour chart from Bitstamp illustrates this week that the price of....
Guggenheim Partners CIO says bitcoin could retrace all the way back to $20,000.
Bitcoin has dropped slightly since establishing highs of $11,730 on Monday. The leading cryptocurrency currently trades for just over $11,400. Bitcoin is expected to see some volatility as announcements are expected from China about blockchain or its digital currency. From a technical standpoint, BTC is expected to retrace in the coming days as the bullish uptrend exhausts. One analyst outlined two core reasons why the cryptocurrency could drop towards the low-$11,000s in the days ahead. […]
Bitcoin has held above $13,000 surprisingly well. Analysts fear that the coin could retrace, though. An analyst noted that there is a confluence of fundamental and technical reasons why Bitcoin is weak. Another says that the coin could drop as low as $11,500 in a retracement. He noted that around that level lies a confluence of important technical levels, making it a likely level for Bitcoin to bounce if it reaches there. Bitcoin Could Drop […]