Is Bitcoin headed for a deeper correction? Watch these levels if $30K breaks
The price of Bitcoin still has a lot room to drop below $30,000 before the bull market is in trouble. Bitcoin (BTC) has seen a massive surge in the past two months, in particular, as institutions jumped into the new asset class. The latest is Blackrock, announcing interest in trading in Bitcoin futures while Grayscale continues to scoop up BTC at an accelerating pace. Total amount of BTC held by Grayscale Bitcoin Trust. Source: CryptoQuantHowever, after a massive surge, the asset’s price has to come down for some tests of support as investors take profit. This is the beautiful cyclical....
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Earlier this morning we published our twice-daily bitcoin price watch piece highlighting the action we had seen in bitcoin over the weekend, and suggesting a few of the key levels that we would be looking at as we headed into Monday's European session. Now action has matured throughout the day, we have seen quite a lot of volatility, and so a fresh set of key levels have come to the fore. With this said, what are the levels that we are now watching, and how will we be looking to enter into any volatility in the bitcoin price overnight? Take a quick look at the chart. As the chart shows,....
Earlier today, we published our twice-daily bitcoin price watch analysis piece. In the piece, we highlighted some of the levels that we had been watching throughout Tuesday evening, and suggested what we felt might be the ones to watch as we headed into Wednesday's session. Now action has matured throughout the European session, and we are heading in to the US afternoon, what are the levels we are watching, and did we manage to draw any profit from our scalp trades in the market today? Take a quick look at the chart. As the chart shows, shortly after we published our analysis, we got a....
Bitcoin is currently experiencing volatile and uncertain price action, with the latest 10% correction raising concerns among investors. While this decline is smaller than the 30% retracements seen in recent months, it is causing significantly more damage to market sentiment as investors grow increasingly weary of the ongoing market dynamics. Related Reading: Bitcoin (BTC) Stumbles […]
Yesterday afternoon, shortly before the markets closed in the UK, we published our twice-daily bitcoin price action piece - with a focus on the key levels we would be looking at as we headed into the US afternoon session and beyond. Now action has matured overnight, we have seen some sharp movement in the BTCUSD, and we're looking at a fresh set of key levels during Friday's trading. With this said, what are the levels we are keeping an eye on, and how might we enter on a potential breaking of these levels. Take a quick look at the chart. As you can see from the chart, having traded....
Towards the end of last week, we published an article that outlined the intraday action in the bitcoin price, and suggested that we may see some bullish momentum as we headed into the weekend. Action throughout Saturday and Sunday has validated this suggestion, and the bullish run early Monday morning (GMT) has culminated in a classical technical charting pattern that - once again - hints at further upside. This said, what are the levels to watch as we head into the European open? Let's take a look. The aforementioned bullish run topped out just shy of 280 flat, before correcting about....