Bitcoin Faces Serious Price Compression – What Happened Last Time
Bitcoin has experienced a tiring price action in recent weeks, with the price struggling to set a clear short-term direction. Investors are beginning to feel impatient as BTC remains stuck in a tight range, showing no decisive breakout. The price was testing crucial supply between $98K and $100K when the market was hit by negative news, adding further uncertainty. Related Reading: Ethereum Holds Key Support – Analyst Doubts Bears Can Defend $4K Anymore On Friday, the cryptocurrency exchange Bybit suffered a massive hack, with $1.4 billion in ETH stolen. The incident triggered fear among....
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Bitcoin value (price) is still holding above a rising channel line as the moving averages slowly converge around it. Price has fallen back from a local high yesterday and is setting up for a move. 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 Value and Price Analysis. Time of analysis: 10h57 UTC. BTC-China 15-Minute Chart. From the analysis pages of xbt.social, earlier today: The current chart has a rising 200MA (red), and price is consolidating around it. MACD and....
A rare bullish bitcoin signal, the difficulty ribbon compression, has started pumping up for the first time since the bull run started. The Bitcoin Difficulty Ribbon Compression Goes Up As pointed out by a BTC analyst on Twitter, the difficulty ribbon compression seems to be going up for the first time since the bull run […]
Bitcoin difficulty ribbon compression has broken out of a bear trend it has been in since the March coronavirus crash. Bitcoin (BTC) simply needs history to repeat itself to see significant price rises, according to two indicators now flipping bullish.On Sep. 28, on-chain monitoring resource Glassnode noted that Bitcoin’s difficulty ribbon compression had broken out of its green “buy” zone for the first time since the March coronavirus crash.Glassnode hints at “significant” BTC price increasesDifficulty ribbon compression is based on difficulty ribbons, a metric devised by statistician....
In a new research report shared on X, Joe Consorti, Head of Growth at Theya, has dispelled ongoing rumors alleging that the Bitcoin price is being artificially held down. Consorti lays out a comprehensive examination of on-chain data, pointing to the normal cyclical behavior of long-term holders (LTHs) and their profit-taking patterns as key drivers of bitcoin’s current trading dynamic. Is The Bitcoin Price Currently Manipulated? One of the core arguments Consorti addresses is the suspicion that “the boring period of consolidation” might be engineered through hidden market forces. In his....
Bitcoin price has been slowly declining today and made a tentative spike toward support a few hours ago. Currently, price is above support but sellers keep piling in and with US traders joining the market soon, selling may intensify. 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: 15h30 UTC. OKCoin-3Mth-Fwd 15-Minute Chart. From the analysis pages of xbt.social, earlier today: Compression of the MAs at the 15min candle timeframe was....