Is Bitcoin at risk of another drop below $40K in a historically corrective Ma...
Bitcoin is showing signs of weakness as February draws to a close. Bitcoin (BTC) has seen a corrective week as the price dropped from $58,000 to $44,000 in a matter of days. This dropdown caused a panic reaction across the markets as the euphoria was immediately halted.For instance, the Crypto Fear and Greed Index plunged to monthly lows of 56 after being above 90, or "extreme greed" for an entire month. Crypto Fear & Greed Index. Source: Alternative.meHowever, such a panic reaction is unwarranted because corrections appear frequently in a bull market as a "reset" before continuation. This....
Related News
Bitcoin price has advanced above the Fib line that has served as the pivot for consolidation during the past week. During the Asian session, price tagged the 4-hour 200-period moving average and looks set to continue the journey north after a corrective price wave has completed. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 12h46 UTC. OKcoin 4-Hour Chart. Also Read: Why The Preference For BTC-China Charts In Analysis? From the....
The bitcoin price has historically been volatile and managing investment risk is the key to avoiding another major market sell off.
Bitcoin price fell away from yesterday’s strained highs, but a price correction introduces some uncertainty about what’s next. Previous price patterns suggest the decline will continue, but simple technical analysis helps us plan contingency, and identify the confirmation of decline. xbt.social subscribers opened a short position after a combination sell signal fired in both the 1-hour and 15-min charts, earlier today. It is not unusual for the market to test the 1hr 20MA after an initial wave of decline. Magenta arrows in the 1hr OKCoin futures chart, illustrates this corrective pattern.....
Bitcoin has undergone a strong drop since the highs of $19,500 seen last week A historically accurate analyst says that further losses are likely for the cryptocurrency The analyst shared a chart showing that Bitcoin is likely in the midst of trading in a dead cat bounce prior to further losses He cited the Elliot Wave form of technical analysis, which predicts that markets move in predictable waves. Bitcoin Could Drop Toward $15,000 Bitcoin has […]
Bitcoin price was pushed higher by eager buying today. The price move shows signs of being a corrective advance that will soon give way to the declining scenario discussed in weekend analysis. Although the resistance ceiling is still some distance above price, it is likely that the current advancing wave is close to making (or has already made) a corrective top. The wave looks aggressively impulsive, but there is no reason to believe it will achieve a new high above the top formed nine days ago. There are no buy signals at any timeframes and the indicators are generally overbought. In many....