Bitcoin falls to a 1-month low after a 6% dive drops BTC price to $56.6K
A snowball effect knocks BTC price through key support levels after today’s 6% drop sends Bitcoin to its lowest levels since mid October. Bitcoin (BTC) fell through key support levels on Nov. 18 in a fresh test of bulls' resolve.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView"Strong market-wide selling" hitsData from Cointelegraph Markets Pro and TradingView showed BTC/USD abandoning the $58,400 support after multiple retests in previous days and at the time of writing, Bitcoin is trading at $57,800.Despite high volatility and challenging the $60,000 mark, within the past hour....
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The Bitcoin price, which saw a 32% increase in value from May 20th to May 26, has slowed to a halt. On May 20th one Bitcoin was worth $444, and on May 26th one was worth $587. This volatility has not been uncommon in Bitcoin's history. Bitcoin has seen numerous rises and falls in value. Speculations have arisen about the cause of this increase. Volatility. [dropcap size="small"]Bitcoin has seen numerous rises and falls in value over short periods of time. The roller coaster value is often attributed to good or bad news. For example, the value drops when people believe that China will ban....
The price of bitcoin has been fluctuating in the last week. Mainly the price has been growing, reaching one-month highs in the process. However, as the month of July is drawing to a close, bitcoin has begun to shed the gains it has made over the last week. This has brought the percentage of holders […]
The relative strength index is making lower highs while correcting from its overbought area. The run-up in the Bitcoin (BTC) price toward $50,000 last week risks exhaustion due to a mismatch between the cryptocurrency's price and momentum trends.So it appears the Bitcoin's price and relative strength index (RSI) have been moving in the opposite direction since late July. In doing so, even a strong push higher in the BTC/USD bids has coincided with lower peaks in momentum, suggesting that the pair's upside momentum is weakening out.Bearish divergenceA normal RSI momentum tends to tail the....