Bitcoin Paints Two Bearish Signals as Price Holds $13K; What’s Next?

Bitcoin price holds a sideways course since the $550 high, and a brief advancing wave has paused at the time of writing. Some bearish technical indications are evident in the chart, but be cautious of selling just yet. Bitcoin price made a run for the upside during the hours prior to this analysis report. As we can see from the various magenta annotations in the chart, the move has caused divergence in various indicators and there are technical reasons to believe that price will turn down – even if it is just briefly. There is a caveat and it will be pointed out after looking at the....

Bitcoin price is showing some recognizable indications in the 4hr chart where price has failed to make new lows and is apparently finding support. A consolidation will be easy to identify and we can expect a series of buy signals when advance begins. However, a sure confirmation of additional decline will be a breach of the supporting blue trendline. Since decline has been complex – and messy – until now, and with many false signals – it is probably best we sit a potential last wave out, unless it is clearly signaled.

Bitcoin price appears to be encountering resistance at the top of the ascending channel visible on the 1-hour time frame. Bitcoin Price Key Highlights. Bitcoin price has been trading inside an ascending channel since the start of the month. Price made a strong bounce off the channel support on Friday on heightened risk aversion, triggering a climb to the top. If the channel resistance holds, another test of support could be in the cards. Technical Indicators Signals. The 100 SMA is still above the longer-term 200 SMA, confirming that the path of least resistance is to the upside and that....

Bitcoin price fell through $440 (Bitstamp) and has subsequently pushed back above this initial decline target level. The market has found support but today’s retracement lacks bounce. A high concentration of bearish signals occurred at the opening of the 4-hour candle pointed out by the magenta arrow, and opened a high-leverage trade as price declined rapidly to below our xbt.social target of $440. An important condition for entry was that a 4-hour candle both opened and closed below the 200MA (red). Subsequently, MACD (panel above price) dropped below its lower Bollinger Band (while below....

The Bitcoin price crash to $91,000 was unexpected, driven by diminishing market dominance and rising volatility. Despite this setback, an analyst predicts an even bleaker outlook for the leading cryptocurrency. The formation of a bearish flag pattern suggests further price declines could be on the horizon, with the analyst projecting a steeper price plunge towards $90,000. Bearish Flag Pattern Signal Bitcoin Price Crash Pejman Zwin, a TradingView crypto analyst, released a chart analysis predicting a significantly bearish outlook for the Bitcoin price. The analyst based this gloomy....