Bitcoin Forms Ideal Market Pivot as Bulls Trap Sellers; What Comes Next
Bitcoin has seen some wild price action over the past couple of weeks, only being rivaled by that seen during past parabolic rallies, like the one in 2017 The cryptocurrency is showing few signs of slowing down anytime soon, as bulls have taken clear control of its price action Where it trends in the mid-term will likely depend on whether or not it can form a strong base of support within the lower-$30,000 region Bulls […]
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Bitcoin’s price has found some stability following the recent market-wide selloff that helped send it down from highs of $11,200 to lows of $10,400 Bulls are ardently guarding against it seeing further near-term downside at the present moment There is a possibility that sellers will be able to continue pushing the market lower in the near-term, as turbulence within the stock market is providing an ideal background for bears to operate against One analyst is […]
Bitcoin price action has now spent a total of nine days in a short-term uptrend, capping off a bounce back to 2021 highs. The sequence of mostly green candles has now triggered and perfected a TD 9 sell setup on daily timeframes. However, the signal has repeatedly failed to yield results since the more dominant high timeframe uptrend began. Is this time different? Or is this yet another bear trap layered into a bull flag […]
Bitcoin price is on the rebound, but after such a sharp fall and more than 50% retracement, any reversal must be considered a potential bull trap until much higher prices are reclaimed. Further adding credence to the theory of a potential bull trap, a trend strength indicator very clearly shows that bears are in charge, […]
Support and resistance aside, it's all about the yearly pivot for Bitcoin price action, says Decentrader's Filbfilb. Bitcoin (BTC) is at a “pivotal” point and faces macro forces that could influence it for “months to come,” fresh research says.In its latest market update on April 8, trading suite Decentrader called for more attention to Bitcoin’s “yearly pivot” price.All eyes on the yearly pivotAfter giving $43,000 support two retests this month, Bitcoin has punctured market sentiment, having reversed direction near $50,000.The move below $46,200 — the opening price for 2022 — was....
Key Highlights. The Litecoin price after declining close to $2.90 managed to find bids and corrected higher. There is a contracting triangle pattern forming on the hourly chart, which is likely to pave the way for more gains. The price is placed above the 100 hourly simple moving average (price feed from Bitfinex), which is a positive sign. Litecoin price may move a bit higher from the current levels, but it might find sellers around an important pivot area of $3.80. How important is $3.80 as a Resistance? We mentioned in one of the previous analyses that the bulls appeared around $2.90 to....