Bitcoin Price Retreats—Key Support Levels in Focus After Reversal
Bitcoin price started a fresh decline from the $95,000 resistance zone. BTC is back below $90,000 and might continue to move down. Bitcoin started a fresh decline from the $95,000 resistance zone. The price is trading below $92,000 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend line with support at $88,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another decline if it fails to stay above the $82,250 zone. Bitcoin Price Dips Over 10% Bitcoin price rallied above the $88,000 and $90,000 resistance....
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Bitcoin price was dumped yesterday by over 20% against the US Dollar. BTC is recovering from $30K and it might attempt a bullish reversal above $40K. Bitcoin tumbled below the $40,000 and $35,000 support levels. The price is now trading well below $42,000 and the 100 hourly simple moving average. There is a crucial bearish […]
Here's a look at what we are focusing on in the bitcoin price this morning. Yesterday evening, our primary focus in our bitcoin price analysis was to try and figure out whether price had finally found support, and – in turn – whether this meant we could set ourselves up for a medium-term reversal against the overarching downside trend. We noted that price couldn’t continue to decline indefinitely, and that at some point, markets would have to balance between buyers and sellers, and that chances are, this wouldn’t happen below previous levels – i.e. those from which price rocketed towards....
Here's a look at what we are focusing on in the bitcoin price this morning. So we are about to kick things off for another day of trading in the bitcoin price, and action overnight has been pretty interesting. Our primary focus yesterday was the seeming consolidation of bitcoin throughout the early morning session, and what this might have suggested about what we could expect going forward. Specifically, when we see consolidation like this, it generally signals the end of a longer-term, overarching trend, and points towards a shorter term reversal. With the overarching trend being to the....
The bitcoin price has struggled over the last couple of days, as we have seen a number of sharp breaks of support translate to some downside momentum. However, today, following yesterday's break, action has ranged throughout the majority of the day, and we are now trading just shy of a key level that - if broken - could spark a reversal and finally give us some bullish action in the bitcoin price this evening. That said, if current levels hold, it is likely that overnight we will see a return to the overarching bearish momentum. So, what are the levels that we are keeping an eye on in the....
A crypto analyst has confirmed a recent breakdown of the Cardano price from an Ascending Channel pattern. With key support and resistance levels now in focus, the analyst has outlined two scenarios for ADA, projecting where its price could move next. Cardano Price Ascending Channel: Bullish Scenario The Cardano price has been trending within an Ascending Channel for some time, maintaining steady price momentum amidst market volatility. However, a TradingView crypto analyst, known as ‘MelikaTrader94’, has identified a recent change in the Cardano price action. The analyst highlights that....