Dreading September? Bitcoin price hopes to break the slump trend
Despite BTC’s lackluster performance in September historically, 2021 could be an outlier to this trend if current market momentum persists. Bitcoin (BTC) has been struggling to break the $50,000 mark for over 10 days now. However, on Sept. 2, the premium cryptocurrency briefly surpassed the milestone, sending positive ripples across the market. Since then, the token has dropped below the mark to trade in the $49,000 range before rebounding to hit the $50,000 mark yet again on Sept. 3.As Bitcoin often behaves in a cyclical pattern, a look at the monthly trends for September could reveal....
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In September, the Darkcoin price broke out of a slump and surged at an impressive rate. However, Darkcoin could not sustain that massive amount of investment capital, because the Darkcoin price climb turned into a price bubble that popped during the latter half of September. But it appears the decline may be over and that Darkcoin is returning to its mean price level. Also Read: Darkcoin 2.0 Open Source - Can Darkcoin get it's mojo back? Darkcoin Price Returns to Mean After September Price Bubble. During the early portion of September, the Darkcoin price hovered around 590,000 satoshis. On....
Following a massive correction, digital assets led by Bitcoin and Ethereum are on track for new highs, according to a new report from Bloomberg. Bloomberg’s senior commodity strategist Mike McGlone has doubled down on call for six-figure Bitcoin (BTC), arguing that the first-born cryptocurrency is well on its way to becoming a global reserve asset that complements the United States dollar. The September edition of Bloomberg’s Crypto Outlook called $100,000 BTC and $5,000 Ether (ETH) the “path of least resistance” after the two assets survived a more than 50% correction through the summer.....
Key Highlights. Dogecoin price moved lower Intraday before finding support around the last swing low of 66.0 Satoshis. A bearish trend line formed on the hourly, which if breached might clear the way for more gains. On the downside, 65.0 Satoshis support area holds a lot of value in the near term. Dogecoin price fell by more than 4% Intraday to trade near a bullish trend line as highlighted recently before a recovering from losses. RSI Break and Divergence. As mentioned, there is a minor bearish trend line formed on the hourly chart of Dogecoin, which is currently staling the upside. The....
Ethereum Price Key Highlights. Ethereum price finally managed to break an important resistance around 0.00390BTC-0.0040BTC. It also cleared a bearish trend line formed on the hourly chart, which can be seen as a positive sign. The only question is whether this is a real break or not and can the price continue trading higher. Ethereum price spiked higher Intraday, and broke a resistance trend line as highlighted in yesterday's post. Can it be broken? The Ethereum price after struggling for some time to break a crucial bearish trend line formed on the hourly chart managed to gain traction.....
Key Highlights. Dogecoin breached an important bearish trend line as highlighted in yesterday's analysis. More gains are likely if buyers manage to take the price above 72 Satoshis. On the downside, the broken trend line might now act as a support in the near term. We will stick to the plan of buying once there is a convincing break above 72.0 Satoshis moving ahead. How crucial is the trend line break? Yesterday, we highlighted an important bearish trend line on the hourly chart, and were expecting a break above the same. There was an upside move as buyers managed to take the price higher.....