Bitcoin traders expect a ‘long consolidation’ phase now that BTC trades below...
Analysts say the entire crypto market is in for a very long consolidation and accumulation period following BTC’s current drop to 2017 highs. Crypto traders had a brief opportunity to pause and take stock of where things are on June 16 as the relentless selling that has hammered Bitcoin (BTC) and the wider market over the past week began to relent despite an ongoing sell-off in the traditional markets. Data from Cointelegraph Markets Pro and TradingView shows that after climbing to a high of $23,000 in the early trading hours on June 16, the price of Bitcoin slowly trended down on....
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Dogecoin Price Key Highlights. Dogecoin price continued to consolidate and setting up for a huge move in the near term. 0-64.0 Satoshis is a key support area, which is a monster pivot zone for both buyers and sellers moving ahead. Dogecoin price consolidating in a tiny range for this long is a warning sign, and could ignite a solid move ahead. The Dogecoin price does this often as it trades in a small range for some time and then trades or we can say spikes in one direction to surprise traders. This past week the price traded in a tiny range, but there was still no break. We were waiting....
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The price of Bitcoin is consolidating around $19,000 as traders brace for a possible pullback. The price of Bitcoin (BTC) was rejected by the $19,500 resistance level yet again on Dec. 4, with traders becoming increasingly uncertain about what's next for BTC/USD. Bitcoin rally keeps stalling at $19,500Some foresee the dominant cryptocurrency undergoing a consolidation phase or another minor correction in the near term, particularly as the U.S. dollar is showing signs of a possible recovery.Others, however, expect the crucial $18,500 support level to hold, which would likely set up BTC to....
Rejected once again as it attempted to reclaim the $40,000 area, Bitcoin trades just north of $39,000. The first crypto by market cap is moving on a low timeframe range between the mid area of its current levels, and around $48,000. Related Reading | Bitcoin Clings To $40K On Easter Sunday As Crypto Seen To Head Lower In The Short Term In higher timeframes, Bitcoin seems trapped between the low $30,000s and the high $60,000s. Whenever it approaches, traders turn to high fear of high greed levels. At the time of writing, Bitcoin trades at $39,300 with a 3% and 7% loss in the last 24....
In the past few days, we advised traders to consider taking profits ~$344. It turns out that the magic number was a few dollars shy of that figure ($338). We also suggested that when the next pullback occurred we could possibly get a test of the long term support line. As I am writing these words, price has touched that support line. For now at least, that support is holding. See the 3-day chart below. As long as we do not get a close below that support line I will remain medium-term bullish. I continue to expect that the market will rise as soon as the price passes through the 2nd arc....