3 reasons why Bitcoin price suddenly dropping below $13,000 isn't bearish
The price of Bitcoin dipped below $13,000 on Wednesday but despite the 7% drop in 11 hours, the market sentiment remains positive for three key reasons. The price of Bitcoin (BTC) fell below $13,000 on Oct. 28 shortly after hitting $13,850 at the day’s peak. Despite the 7% drop in 11 hours, however, the market sentiment remains positive for three key reasons.First, Bitcoin is still at where it was on Oct. 27, merely 24 hours ago. Second, BTC rose to $13,850, right below a multi-year resistance area at $13,873. Third, a marketwide drop was expected due to declining stablecoin inflows into....
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There's a lot of long-term bulls in the bitcoin market. But in the short-term? Pretty much everyone has suddenly turned bearish.
Dear trader, Welcome to the third episode of our Decadays Market Report series. The first two articles are available Part 1 and Part 2. Remember, in our previous article, I showed you a bearish divergence in progress. Then I said: “the price of Bitcoin may not recover in the coming days. Instead, the risk is to see a new strong drop.” Since then, what happened? As you can see on the chart below, the drop didn’t happen right away and the mid-term bearish trend ended. However, a second bearish divergence started on the 26th and the price finally crashed again. My sincere apologies for my bad....
As you can see from the Bitcoin chart below, the Bitcoin price has increased rapidly in the last few hours. With a low of 407 USD per Bitcoin, the price has reached 455 USD per BTC with buy orders of more than 7000 Bitcoins. Do you know why the Bitcoin price is suddenly spiking? Let us know in the comment field or start a discussion in our investment group.
Is Bitcoin (BTC) heading back down? What caused the sudden pullback to $18.5K? Join us as we discuss this and more with Tim Warren, co-host of Coffee N Crypto, and Ray Salmond. In this week's episode of Market Talks, we welcome Ray Salmond, head of markets at Cointelegraph.The main topic of discussion with Ray will be the recent crypto market pullback and whether there is a possibility of the price of Bitcoin (BTC) going all the way down to $15K. We take a look at the charts to analize the price movements and figure out important price levels to keep an eye on.Some might see the falling....
FTM’s price struggles as a downtrend price movement continue. FTM failed to breakout from its range channel as the price was rejected into a downtrend price formation with more sell volume. The price of FTM shows bearish signs as the price trades below the 50 and 200 Exponential Moving Averages (EMA). Fantom (FTM) price movement has had a rough time as the price of Fantom (FTM) shows little or no sign of price bouncing off from its downtrend price formation against tether (USDT). The crypto market recently faced a slight setback with Bitcoin’s (BTC) price dropping from $19,000....