TA: Bitcoin Prints Bearish Technical Pattern, Why It Could Revisit $10.2K
Bitcoin price is currently correcting higher from the $10,550 support against the US Dollar. BTC is currently facing hurdles and it is likely to resume its decline below $10,550. Bitcoin is showing many bearish signs below the $10,800 resistance zone. The price is now trading below the $10,675 resistance and the 100 hourly simple moving […]
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Bitcoin price is correcting gains and it is trading well below $35,000 against the US Dollar. BTC could decline further if it stays below $34,400. Bitcoin started a downside correction below the $35,000 and $34,000 levels. The price is now trading below the $34,000 support and the 100 hourly simple moving average. There is a […]
Chainlink (LINK) started a sharp decline after forming a head and shoulders pattern (as discussed in the previous analysis). The bears are gaining strength and aiming a test of $10.20. Chainlink token price started a fresh decline after it failed to clear the $12.50 resistance against the US dollar. The price is now trading below […]
It’s been a strange few days in the bitcoin price space. A number of fundamental developments seem to have reversed the negative general sentiment from the beginning of last week, and the bitcoin price looks to reflect this reversal. However, a look at the charts from a technical perspective suggests there could be some medium term weakness. We’ve detailed head and shoulders pattern before, but for our readers that haven’t come across these patterns in our analysis yet, they are a pretty common classical technical charting pattern used in more traditional financial asset trading. They come....
Bitcoin price has slumped more than 3.5% bringing the bearish Head and Shoulders pattern to near completion. Bitcoin dropped from roughly $254 to $243 which is in close proximity to the target of $241.50. With this loss, the cryptocurrency has erased all the gains for the month of April. Each Bitcoin is currently worth $244. An analysis of the 240-minute BTC/USD price chart reveals that the damage has been done and the price may consolidate or rebound in the coming sessions. Head & Shoulders Pattern - Bitcoin had been forming a Head & Shoulders pattern - a technical bearish reversal....
Bitcoin price is struggling to get back above $60,000 currently, but bears thus far have been unable to swat price action away from local highs. The push and pull between the two opposing market forces have resulted in a bearish price pattern potentially forming, that anyone paying attention to cryptocurrency might want a heads up […]