Bitcoin is Likely to Remain Rangebound Until It Breaks This Key Level
Bitcoin has been caught within an intense consolidation phase throughout the past few days The selling pressure in the mid-$19,000 region is intense, and it remains unclear as to whether it will break above this anytime soon The fact that it has been consolidating above $19,000 is an incredibly positive sign, and forming this into […]
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No action in the crypto market as Bitcoin still trades around the $29,000 to $30,000 area. The first crypto by market cap has been rangebound since the Terra ecosystem collapsed taking a hit on an already soft market. Related Reading | Mr. Wonderful-Backed Green Bitcoin Mining Venture To Build $500M HQ In N. Dakota The “Black Swan” event has preceded one of the worst periods for the space as Bitcoin and Ethereum recorded record consecutive losses. At the time of writing, BTC’s price trades at $29,500 with a 2% loss in the last 24-hours. According to a pseudonym trader, Bitcoin could....
Bitcoin remains rangebound as most of the crypto market continues to trade in the red. The number one crypto has seen some profits on lower timeframes, but the general sentiment in the market still points to uncertainty. Related Reading | Bitcoin Miners Contributing To BTC Crash? New Report Sheds Light At the time of writing, BTC’s price trades at $20,800 with a 4% profit in the last 24 hours and an 8% loss in the past week. On lower timeframes, data from Material Indicators records an increase in bid orders for BTC’s price of around $18,000. There are over $49 million in bid orders.....
Bitcoin price continued on Sunday as it had done on Saturday: quiet trade in a $4 range. Today’s price action seems to be coiling up for a larger move. Another quiet day in the bitcoin price chart with price hugging the 200-hour moving average. Volume remains low but the additional onset of low volatility within a narrow price range gives the impression that a larger move is building pressure in the chart. Longer term constraints remain $449 (Bitstamp) and the horizontal resistance zone up to $470. The price action since Thursday 12th April resembles a base pattern and a Fib extension tool....
Ethereum price extended its decline below the $1,550 support against the US Dollar. ETH is recovering losses, but upsides might be capped near $1,620. Ethereum gained bearish momentum below $1,580 and $1,550. The price is trading below $1,600 and the 100-hourly Simple Moving Average. There is a key bearish trend line forming with resistance near $1,605 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct higher but the bears might remain active near $1,600 and $1,620. Ethereum Price Breaks Down Ethereum’s price failed to settle above the $1,620 pivot level. ETH....
Chainlink and other altcoins have been severely underperforming Bitcoin throughout the past few days, as BTC has pushed to fresh yearly highs while most altcoins remain down 50% or more from their highs that were set just a few days ago. The immense selling pressure that has been placed on altcoins as a result of […]