Bitcoin Price Breakdown: Bulls In Trouble As $50,000 Is Lost

Bitcoin is laggingly tailing the gold chart trends, and it may face trouble for its delayed correlation. That is due to the precious metal’s latest breakdown move, wherein the price broke out of a Symmetrical Triangle pattern to the downside. Incidentally, Bitcoin is now consolidating inside a similar technical structure, and one analyst predicts it would break bearish just like gold. “Since the COVID Crash of March 2020, it is apparent that gold has been […]

Ethereum has been closely tracking Bitcoin’s price action over the past couple of weeks, which has opened the gates for it to see some serious weakness Where it trends in the mid-term will depend largely on whether or not bulls can eventually surmount $600 This has proven to be a crucial price region for ETH, and its sustained bout of trading beneath it may strike a serious blow to bulls One trader is now noting […]

Bitcoin price has lost direction. Ordinarily, this kind of price action can be described as merely corrective, but the chart shows several months of lower lows and, now again, a lower high. Price action seems conflicted, as the bulls managed a general push higher over the past few days, but long candle wicks to the downside betray the presence of the bears. The indicators give no clear signal of the next likely price move, as both RSI (second from top) and MACD (immediately above price) hold to the middle of their ranges. A bullish sign would be for the market to trade price above the 4hr....

Bitcoin continues to respect the neckline resistance as markets brace up for the showdown between the Greek government and its creditors this weekend. Overcoming the supply pressure near the resistance line has certainly proved to be a hard task for the bitcoin bulls, but I am expecting a big move to rock the market by the end of this week. Bitcoin can be seen trading up 0.64% at $269.41. Technically, things look poised in favor of the bulls which may eventually help them take out the resistance and may be, the price even heads towards $300 then. Check out the technical considerations from....

All hell has broken loose in the Bitcoin market! The price of Bitcoin crashed more than 13 percent intraday after bears crushed the bulls following the Bitcoin XT controversy. As of now, short covering has helped lift the price up to $235.66, still off more than 7 percent. With this, all the hard work done by the bulls since June has been undone. In the previous Bitcoin price technical analysis, The Pressure is Simply Too Much, I had clearly stated that if the selling pressure were to increase even slightly, it would lead to a breakdown kind of situation in the cryptocurrency. My short....