Bitcoin Turns Red, Why Bears Aim A Retest of $55K
Bitcoin price extended decline below the $60k support against the US Dollar. BTC could extend losses towards $55k in the coming sessions. Bitcoin started a fresh decline below the $65k and $62k support levels. The price is now trading below $60,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $61,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend losses below the $58,500 and $57,500 support levels in the near term. Bitcoin Price Gains Bearish Momentum Bitcoin price started a fresh decline....
Related News
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 […]
Bitcoin and most major altcoins have started a strong recovery that could reach overhead resistance levels where bears may mount a strong defense. Bitcoin (BTC) and most major altcoins appear to have started a relief rally. Glassnode data suggests that Bitcoin addresses with a non-zero balance have risen to about 40 million, indicating increasing adoption by retail traders.Edelman Financial Engines founder Ric Edelman said that the number of Americans owning Bitcoin could rise from 24% currently to one-third by 2022. He expects this to happen as “Bitcoin is becoming more and more....
Bitcoin price is headed for downside after its recent triangle breakdown, with bears eyeing support at the rising trend line. The 100 SMA is still above the longer-term 200 SMA so the path of least resistance is to the upside. However, bitcoin price has broken below the short-term moving average, hinting that a reversal may be in order. The 200 SMA is in line with the rising trend line connecting the lows, adding to its strength as a potential support zone. Stochastic is on the move down so bitcoin price could follow suit. The oscillator is nearing the oversold area so bears might need to....
Bitcoin price just slammed through $17,000 as part of a seven consecutive week rally. The cryptocurrency finally reached what could be the final resistance level before a retest of its all-time high. With the former peak within striking distance, will bulls seize the opportunity and set aflame to cryptocurrency market interest once again? $17,000 Now […]
Okay Bears have quickly become the signature Solana NFT project. That’s back on display this week, as a new licensing deal has come to life with Okay Bears and entertainment behemoth IMG. IMG’s Stature, And Okay Bears Potential IMG is one of the biggest names in IP, a global monster that deals in global product […]