Bitcoin Rejected At $21K, Why A Retest Of The Lows Could Be Positive
Bitcoin seems on the verge of re-testing previous support levels. The number one cryptocurrency has been experiencing a persistent downside which took it to a multi-year low of around $17,000. Related Reading | Two Months Of Extreme Fear Leaves Crypto In Panic, Bitcoin At $20K Bitcoin has been trying to reclaim previously lost territory, but the selling pressure continues driven by negative news around the crypto space and the shift in monetary policy from the U.S. Federal Reserve (Fed). At the time of writing, BTC’s price trades at $20,000 with a 10% loss in the past week. Analyst....
Related News
Bitcoin opened this week in positive territories, looking to recapture its record high levels after crashing to its three-week lows in the previous session.
Bitcoin price had fallen this morning sharply after a weekend rally to start off the new week. But after a sweep of lows around $11,175 this morning, the first-ever cryptocurrency rocketed higher to retest $11,500 where bulls are now attempting to hold strong. Here’s what to expect if Bitcoin price can remain above this key […]
The ETH/BTC pair remains pinned below a key resistance level as the macro landscape worsens. Ether (ETH), the native cryptocurrency of Ethereum, has failed to break out once more against Bitcoin (BTC) with BTC/USD rallying by more than 8% on March 18.There are two likely reasons why the ETH/BTC pair is failing to break through an important resistance level.First, BTC rallied strongly in a short squeeze after the majority of the market was short throughout the past few days, outperforming most alternative cryptocurrencies.Second, the overall macro landscape for the risk-on market is....
Ethereum spent the summer months easily outperforming Bitcoin, but that trend reversed as soon as the fall months hit. The change in tune towards the DeFi trend helped take the second-ranked cryptocurrency down to retest resistance turned support. The bullish retest has since held, and it could take the altcoin back to retest highs on […]
Litecoin price is trading lower with a bearish bias. It looks like there is a chance of a retest of lows around $3.369 (data feed from Bitfinex). Intraday Support Level (Bitfinex) can be at $3.36. Intraday Resistance Level may be seen at $3.44. Yesterday, I highlighted that there is a possibility that sellers may appear another time and take the price lower. The price did move down Intraday, and currently looks set for more losses in the near term. Our sell near the 100 hourly simple moving average played well and it’s time to book profits. The highlighted resistance near the 100 hourly....