Bitcoin Price Sits On A Gun Powder As $20,500 Fails; Will Bears Open The Doors?
BTC’s price slowed down after showing so much strength as it rallied to a high of $21,000 but got rejected as the price rallied downward. BTC could suffer retracement as the price breaks below the crucial support area, holding the price off from sellers with hopes of a rebound. BTC’s price remains strong on the daily timeframes as the price trades above the 50 Exponential Moving Average (EMA). The price of Bitcoin (BTC) showed some incredible price action as the price rallied from a low of $19,200 to a high of $21,000 before facing a rejection back to its key support of....
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On-chain data shows Bitcoin dry powder has been accumulating on exchanges as stablecoins reserve exceeds $19 billion. Stablecoins Reserve Crosses $19 Billion As pointed out by a CryptoQuant post, exchanges now hold stablecoins worth more than $19 billion. Such a large reserve might mean enough dry powder for Bitcoin to make a big move soon. […]
Bitcoin price failed to settle above $65,000 against the US Dollar. BTC started a fresh decline, and it might extend losses below the $60,000 support. Bitcoin started a fresh decline from the $66,400 resistance zone. The price is now trading well below $65,000 and the 100 hourly simple moving average. There was a break below a major rising channel with support near $64,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend losses below the $61,200 and $60,500 support levels in the near term. Bitcoin Price Starts Fresh Decline Bitcoin price failed to gain....
Data shows stablecoins volume has surged up once again. Past pattern may suggest that this accumulation could be dry powder for Bitcoin’s next big move. Bitcoin Stablecoins Reserve Rises Up Again As pointed out by an analyst in a CryptoQuant post, the stablecoins reserve seems to have risen again back to peak levels. The stablecoins reserve is an indicator that shows the total amount of stablecoins being held on wallets of all exchanges When the value of this indicator moves up, it means investors could be moving out of volatile crypto markets, and into the stable fiat tokens. High....
Crypto enthusiasts encountered a bit of a scare a few days ago when the bitcoin price substantially fell after several weeks on the rise. After days of hinting at a potential jump to $800, the price suddenly plummeted to about $677 before finally settling in around $705. Bitcoin Price Recovering From the Drop, but Are the Bears Even Done Yet? One source describes the action in detail: “There was a minor dip this past week, and then the price spiked higher. During the upside move, the price broke the 61.8 percent Fib retracement level of the last wave from the $625 low to $725 high to open....
Bitcoin price extended decline below the $60k support against the US Dollar. BTC could extend losses towards $55k in the coming sessions. Bitcoin started a fresh decline below the $65k and $62k support levels. The price is now trading below $60,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $61,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend losses below the $58,500 and $57,500 support levels in the near term. Bitcoin Price Gains Bearish Momentum Bitcoin price started a fresh decline....