Analyst says $42K must hold to keep Bitcoin price from sweeping its swing low
Bitcoin needs to hold $42,000 or it risks sliding as low as $32,000, according to crypto trader Eric Krown. Bitcoin bulls continued to battle with bears near the $43,000 support level on Sept. 27 as China’s crackdown on all things cryptocurrency put a halt to last week’s positive price movements and has stifled growth into the day.According to Eric Krown, a cryptocurrency trader and host of Krown’s Crypto Cave, what comes next for Bitcoin (BTC) really “depends on what timeframe you are talking about,” but he is currently focused on the more medium- to long-term outlook. In the latest....
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Bitcoin has seen a remarkable recovery trend that has caused its price to surge past $22,000 once more. This is a welcome development for the digital asset, which has been suffering from many dips, but it is not all rosy for the cryptocurrency. Since the market continues to remain in a bearish trend, there are levels that bitcoin must maintain above to keep such high prices. Otherwise, it risks falling more than 85% from its all-time high. Bitcoin Must Hold Above $17,000 Many prominent figures in the finance industry have shared their thoughts about where they see the price of bitcoin....
An ongoing bull run in the Bitcoin market might extend until the price hits $60,000-64,000 area, asserts an independent analyst. The pseudonymous entity tweeted Wednesday that BTC/USD needs to hold support above $42,000 to validate its prolonged bullish setup. On the other hand, slipping below the said price floor would signal bearish deviation. “As long […]
Bitcoin price could be aiming for its previous high or more gains beyond that, as the area of interest held as support. Using the trend-based Fib extension tool from the swing low of $370 to a swing high of $445 and a pullback near $410 shows that price might hit its first resistance around $436.93 or the 38.2% level. The next potential resistance or 50% level is around the swing high of $445, followed by the 61.8% Fib at $454 then at the 76.4% extension at $465, which lines up with the highs earlier this year. Further gains past that point could lead a move all the way up to the full....
Bitcoin has entered a period of consolidation after topping at $19,900 a number of days ago. The coin currently trades for $19,200, having bounced from the local lows but also halving failed to pass the $19,500 resistance level. An analyst thinks that Bitcoin could face a correction toward $17,000 if it manages to close under $18,700. BTC seems primed to hold this level for the time being, though. Analysts remain long-term bullish on the leading […]
DarkNote Price Key Highlights. DarkNote price spiked down sharply to weaken by around 40% before recovering sharply. The price is back towards the last swing high of 0.00000088BTC and looks set for more gains. The price is now trading above the 100 hourly simple moving average, which is might help it in the near term. DarkNote price after a false break continued to trade higher and looks set for more upsides moving ahead. Risk of More Downsides? We highlighted yesterday that the price was struggling to hold an important support near 0.00000078BTC. The result was a sharp move down, which....