Two Scenarios Map Out Bitcoin Price Crash After Recovery
After hitting a new all-time high, the bitcoin price has since retraced towards its pre-pump levels from last week, completely erasing its rapid gains. As a result, the bears seem to be reclaiming control once again, with sellers dominating the market. While expectations for another sharp recovery abound, crypto analyst Melikatrader has outlined two possible scenarios for the pioneer cryptocurrency, with both ending in bearish reversals toward established local peaks. Lower Trendline Break Points To Bearish Developments The analysis highlights the two possible directions that the Bitcoin....
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The Bitcoin crash of last week was a brutal one for the market. It saw the digital asset lose its footing from where it had been trending just below $30,000 to crash to the mid $17,000s before a recovery had begun. With the new week, the market had started to emerge into the green. But as bitcoin struggles to hold above $20,000, the question remains what had triggered such a crash. A Short Squeeze The bitcoin open interest in perps had been up over the last couple of weeks. This has continued to be the case through the market crash and the subsequent recovery. However, the open interest....
The Bitcoin price has been trading in a tight range around the $37,000 price level through the weekend. This tight trading suggests that there is a lot of fighting going on right now between the bulls and the bears as each camp tries to gain an upper hand over the other. As this tug of war continues, a crypto analyst has presented the most important level that will determine whether the bulls or the bears will claim dominance. $31,000 Is The Magic Number For The Bitcoin Price Crypto analyst Ben Vouh took to TradingView to share their analysis of where the price of Bitcoin will be depending....
Bitcoin price recently suffered another crash that sent the price of the asset dropping towards the low $40,000s again. This one, however, has been significant in its cash and recovery patterns, and subsequent on-chain data suggests that this most recent crash may have worked in the favor of the digital asset. This is because interest […]
Only six months after the Bitcoin price last reached an all-time high of $266 in April, Bitcoin is shooting up yet again. The rise started almost immediately after the beginning of October, when the anonymous market Silk Road was shut down and its owner arrested; although the price did drop down from $127 to a low of $85 on Bitstamp, it recovered quickly, and soon started rising from $127 at an average rate at over three percent per day. After a brief crash and consolidation at $200, Bitcoin kept rising again, and soon finally hit its new all-time high. First of all, what is different....