Bitcoin Weak on Lower-Time Frames as Analysts Eye Move to $17,000 Region
Bitcoin has been flashing some signs of intense weakness throughout the past few days and weeks, which has caused the cryptocurrency’s price to decline below $18,000 on a few occasions. So far, the buying pressure here has been significant enough to catalyze multiple rebounds, but its reactions to each dip are getting weaker as time […]
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The price of Bitcoin is at a crossroads with diminishing trading volume, hinting at more downside in the short term. While Bitcoin (BTC) has seen a parabolic rally since September, the momentum has stagnated, with BTC/USD unable to break through the all-time high region.This BTC price level below $20,000 has been accompanied by diminishing volatility and volume, making it increasingly difficult to predict the direction of the next move. Let's take a look at the crucial levels where volatility could be expected on the lower time frames.Sideways BTC price action, low volatility for....
America’s currency has been flirting with lows again, as the U.S. Dollar Index (DXY) dropped to a low of 89 on Tuesday and the following Thursday. This is the third time since April 2018, the DXY has been this weak, and some analysts think the currency could drop even lower. US Dollar ‘Is a Bit Extended,’ RSI Levels Indicate ‘Oversold’ Territory Analysts and economists have been concerned about the U.S. dollar during the last year, after Covid-19 guidelines shook the global economy and wreaked havoc on the supply chain. Following more than 12 month’s....
Bitcoin has rallied strongly over the past few weeks. The leading cryptocurrency surged from $10,400 to $11,750. The coin now trades for $11,400 after a slight correction as buying pressure tapered off. Bitcoin is primed to move lower in the near term as it aims to set up another leg to this ongoing rally, analysts say. Crypto analysts think this is the case, along with analysts at JP Morgan. Bitcoin Primed to Move Lower Prior […]
Bitcoin has finally begun to strongly recover since last week’s lows near the $16,200 region. In the past 48 hours, the coin surged from the $17,000 region to $18,500 — the highest the coin has traded at in many days. Analysts are mixed over what comes next for Bitcoin. Some think that this rally is a precursor to new highs. Others think that the coin could revert lower as it faces down key resistance levels. […]
Ethereum has dropped since its $460 highs. The coin of the leading cryptocurrency currently trades for $440, though analysts say that it may catch a bid if it goes lower. Analysts are specifically eyeing the $420 region, at which point ETH should post a strong bounce. Bolstering the Ethereum bull case, on-chain data shows that there is an accumulation of the coin taking place. Other trends show that ETH is being accumulated for the ETH2 […]