TA: Bitcoin Turns Lower, Why Bulls Could Struggle In Near Term
Bitcoin started a fresh decline from the $48,000 resistance against the US Dollar. BTC remains at a risk of a sharp decline below the $46,000 support zone. Bitcoin started a fresh decline after it failed to clear the $48,000 resistance level. The price is trading below $47,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $47,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains at a risk of a major decline if there is a clear move below $46,000. Bitcoin Price Remains At Risk Bitcoin price failed to....
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Bitcoin has seen some choppy price action throughout the past day, with its price mainly consolidating within the lower-$15,000 region as bulls and bears struggle to gain control of its near-term outlook. Where it trends in the near-term will likely depend on whether or not it can continue trading above $15,000. This has been a […]
Ethereum price recovered against the US Dollar intraday, but it remains at a risk of more losses as long as it is below the 100 hourly SMA. Key Highlights. Ethereum price managed to correct a few points against the US dollar and traded above the $10.00 level. There is a bearish trend line formed on the hourly chart (data feed via Kraken) of ETH/USD, which is acting as a resistance for an upside move. The price may continue to struggle in the short term as long as it is below the trend line resistance. Ethereum Price Sell? Yesterday, I highlighted a couple of trend lines and resistances,....
Bitcoin has simply been ranging throughout the past few days, with bulls building a strong base of support within the lower-$13,000 region as bears struggle to gain any momentum This support could help catapult it higher in the near-term, but the slight rejection seen at $13,600 yesterday does indicate that downside could be imminent There is one technical indicator that suggests some downside could be right around the corner One analyst spoke about this in […]
Bitcoin has seen some wild price action as of late that has put a short-term end to the cryptocurrency’s extended parabolic uptrend. Where the market trends in the mid-term will undoubtedly depend primarily on whether or not bulls can main control over the lower-$30,000 region, which is around where it has found some serious support […]
Bitcoin witnessed an intense selloff today that came about after bulls once again failed to break above $13,800 The selling pressure here has proven to be quite significant, and buyers’ inability to surmount it signals that it may mark a local top The crypto is now trading back down where it has been for the past week in the lower-$13,000 region Both bulls and bears have been unable to gain firm control over its short-term […]