Bitcoin falls to $36K, traders say bulls need a ‘Hail Mary’ to avoid a bear m...
BTC price dropped to new lows at $36,000, leading analysts to call for a “Hail Mary close above $39,600” to stave off a bearish shift in Bitcoin’s market structure. Bitcoin (BTC) price continues to sell-off and the knock-on effect is an even sharper correction in altcoins and DeFi tokens. At the time of writing, BTC price has sank to its lowest level in 6 months and most analysts are not optimistic about an immediate turn around. Data from Cointelegraph Markets Pro and TradingView shows that a wave of selling that began late in the day on Jan. 20 continued into midday on Friday when BTC....
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Intended to convince market participants of a price correction, bear traps are orchestrated by entities with large holdings to make quick profits. How to identify and avoid a bear trap?As a difficult proposition for novice traders, a bear trap can be recognized by using charting tools available on most trading platforms and demands caution to be exercised.In most cases, identifying a bear trap requires the use of trading indicators and technical analysis tools such as RSI, Fibonacci levels, and volume indicators, and they are likely to confirm whether the trend reversal after a period of....
BTC price hits a 2022 low as on-chain data points toward capitulation by traders adopting a risk-off approach to crypto and stocks. “When it rains, it pours” is an old saying finding new relevance in the cryptocurrency markets on May 9 as traders face another day of pain and the current price decline brings Bitcoin (BTC) to its lowest level in 2022. Data from Cointelegraph Markets Pro and TradingView shows that the BTC selloff on May 9 intensified as the trading day progressed with Bitcoin hitting a daily low of $31,000 as bulls scrambled to mount what amounted to a weak defense. BTC/USDT....
Bitcoin (BTC) trades below $23,000 against Tether (USDT) after weeks of showing strong bullish signs as investors shift sentiments from bull to bear trap. The price of BTC failed to sustain its bullish structure as it breaks below zones leaving investors confused as Bitcoin trades just above the weekly key zone. Related Reading: Investor Sentiment Falls As Crypto Market Sheds $100 Billion Bitcoin (BTC) Trade Analysis On The Weekly Chart From the chart, the price of BTC saw a weekly low of $22,800, which bounced from that area and rallied to a price of $25,200 after showing great recovery....
Crypto analysts and researchers explain the bear market as a period in which supply exceeds demand, morale falls, and prices decrease. As such, a bear market is a market that has experienced consistent or significant falls. A bear market is defined as any stock index or specific stock that has declined by at least twenty percent from its most recent high. As depicted here, “consistent falls” or declines refer to lengthy durations of downward oscillations. Ideally, markets are volatile on a daily (or even moment-to-moment) basis. Various factors can cause bearish markets,....
Bitcoin is still struggling to get back above $60,000, and is sinking lower with each passing day. Another defense at $50,000 might be near, and if bulls cannot support the key level another time, a bear market could follow. According to the momentum of past market cycles, the next bear phase could be a walk […]