Analysts warn that Bitcoin could dip to $38K 'before an eventual breakout'
Bitcoin continues to struggle below $42,000 as extreme fear grips the crypto market and analysts hint at a drop to $38,000. The cryptocurrency market faced another day of weakness on Jan. 18 as the price of Bitcoin (BTC) dropped lower and additional pressure was also put on the altcoin market. Currently, the crypto Fear and Greed Index registered "Extreme Fear" among investors and some traders caution that BTC price could soon fall below its recent $39,000 swing low.Crypto Fear & Greed index. Source: AlternativeData from Cointelegraph Markets Pro and TradingView shows that bulls lost....
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After an extended period of consolidation that provided little insight into Bitcoin’s near-term outlook, the cryptocurrency was able to post a breakout rally that has since sent its price surge towards $11,700. This move carried significant weight, as it took place in the absence of an uptrend seen by the traditional market. Analysts are now […]
Bitcoin price keeps consolidating in a narrowing price range. Although there is a breakout building pressure in the chart, there is not yet any technical evidence of the eventual direction. The rounded price wave formed over the past two days has begun breaking down and we watch to see if the market will sell price back into the blue support zone. If price is held above the 200MA (red, near $655 Bitstamp) then there is the opportunity that this wave can continue higher. Below the 200MA there is an additional potential bounce level at $640, at which a base wave may complete and then advance....
Analysts warn against reading too much into the complacency suggested by the volatility metrics.
Bitcoin's revived uptrend could soon lead to a much-anticipated breakout above the $20,000 mark, according to several analysts.
The upcoming launch of a BTC ETF has bulls proclaiming that a $100,000 Bitcoin price is imminent, but several analysts warn that a sharp short-term pullback could also occur. The day the crypto traders have long-awaited is almost here. At the opening bell on Oct. 19, a ProShares futures-based BTC ETF is scheduled to launch and analysts are predicting that additional ETFs will rollout over the coming week. Data from Cointelegraph Markets Pro and TradingView shows that an early morning attempt by bears to drop the price back below $60,000 was well defended by traders and at the time of....