This Key Bitcoin Metric Signals That The Downside May Persist A Bit Longer
After a sharp pullback in Bitcoin’s price, there are speculations that the cryptocurrency market has shifted into a bearish phase, marking an end to the bull market. Despite this significant drop, a key metric is showing signs that the market pain is likely to continue, reinforcing this current downward pressure. Bitcoin Metric Warns The Pullback […]
Related News
Bulls and bears are still fighting over where to take bitcoin price next, as a break from this consolidation pattern would confirm which side wins. Bitcoin Price Key Highlights. Bitcoin price has formed lower highs and higher lows, creating a symmetrical triangle on its 4-hour time frame. Price is currently testing the triangle resistance and waiting for more bullish momentum to trigger an upside break. Technical indicators are giving mixed signals at the moment but a breakout could provide longer-term direction for bitcoin trading. Technical Indicators Signals. The 100 SMA is above the....
Bitcoin price could continue to consolidate but if a breakout occurs, technicals are favoring a downside move. Bitcoin Price Key Highlights. Bitcoin price is still stuck in its tight range on the short-term time frames, bouncing off support once more. A test of the near-term resistance could be in the cards but technical signals are pointing to a downside break. Buyers seem to be running out of momentum or traders are simply waiting for fresh market catalysts. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA for now, which suggests that buyers still may have a bit....
Bitcoin price is consolidating in a rising wedge pattern and the direction of its breakout could set the tone for long-term movement. Bitcoin Price Key Highlights. Bitcoin price recently broke to the downside of its short-term uptrend, signaling a reversal underway. Price is stuck in consolidation for the time being, as traders have been booking profits from the previous drop and waiting for more cues. A break below the rising wedge pattern could confirm that longer-term losses are in the cards. Technical Indicators Signals. The 100 SMA just recently crossed below the longer-term 200 SMA....
Bitcoin price is consolidating inside a symmetrical triangle formation, possibly gearing up for a strong breakout. Bitcoin Price Key Highlights. Bitcoin price has formed lower highs and higher lows, creating a symmetrical triangle pattern visible on its short-term chart. Price is currently testing support and might be due for a bounce back to the resistance. Technical indicators are giving mixed signals, although a downside break seems possible. Technical Indicators Signals. The 100 SMA just crossed below the longer-term 200 SMA to indicate that the path of least resistance is to the....
Bitcoin price is stuck in consolidation on its short-term time frames but could be poised for a breakout soon. Bitcoin Price Key Highlights. Bitcoin price has been treading sideways recently and has formed a symmetrical triangle formation on its 15-minute chart. A breakout could be due sooner or later since price is approaching the triangle’s peak. Technical indicators are giving mixed signals on this time frame but longer-term charts suggest that the uptrend could remain intact. Technical Indicators Signals. The 100 SMA is below the longer-term 200 SMA on this chart so the path of least....