TA: Bitcoin Bears Are Back, Here’s Why BTC Could Test $30K
Bitcoin price failed to clear the $37,000 resistance against the US Dollar. BTC is declining and it remains at a risk of more losses below $34,000. Bitcoin is facing a lot of hurdles near the $36,000 and $37,000 resistance levels. The price is currently trading well below $37,000 and the 100 hourly simple moving average. […]
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Following the Ripple partial victory over the SEC back in early July, the XRP price grew rapidly and climbed double-digits to secure a new yearly high. However, this has turned out to be short-lived as less than two months later, the cryptocurrency has once again succumbed to the bears. This has wiped out its gains […]
Bitcoin price turned upon hitting the resistance at $460 as hinted by the bearish divergence. The oscillators fell from the overbought regions to indicate a return in bearish momentum. RSI is nearing the oversold area so profit-taking might happen but stochastic has a long way to go, which suggests that sellers could be in control for a long while. However, the 100 SMA is still above the longer-term 200 SMA so a bounce is still possible. Bitcoin price is still on top of the trend line drawn to connect the lows since late January this year so the uptrend could resume from here. Volatility....
Bitcoin price failed to stay above the $54,000 support against the US Dollar. BTC is declining and it is likely to accelerate losses below the $50,000 support zone. Bitcoin is declining from well above $55,000 and it broke the $53,500 support. The price is now trading well below $52,000 and the 100 hourly simple moving […]
Despite a recent uplift in Bitcoin market price, which saw the crypto momentarily breach the $62,000 mark, the widespread consensus among crypto analysts suggests that this increase is temporary and that the bearish pressure is far from over. Particularly, prominent crypto analyst Willy Woo voiced earlier that the minor surge was primarily a “technical” response to oversold conditions and did not indicate underlying market strengths. Related Reading: Bitcoin To Hit New Heights? Analyst Predicts 10x Growth In Few Years — Here’s How Bitcoin Bears Are Still In Control Diving into....