Bitcoin clings to $20K as analysts warn of a long, bumpy ride for the foresee...
BTC price briefly fell below $20,000 and traders warn that the all-important support level could eventually crumble after enduring an increasing number of retests. Bullish cryptocurrency traders hoping that the market was on a path higher received a dose of reality on June 29 as the price of Bitcoin (BTC) dipped below $20,000 again during intraday trading. Data from Cointelegraph Markets Pro and TradingView shows that the top cryptocurrency fell under pressure in the early trading hours on June 29 with bears managing to drop BTC to a daily low of $19,857 before price was bid back above the....
Related News
Dogecoin’s recent bearish performance in the past several weeks has cast doubts about its potential in the ongoing bull market cycle and its long-term prospects. DOGE may have declined sharply toward key levels last seen in 2024, but many analysts foresee a price reversal, which could be part of a larger bull trend. Trader Tardigrade, […]
The upcoming launch of a BTC ETF has bulls proclaiming that a $100,000 Bitcoin price is imminent, but several analysts warn that a sharp short-term pullback could also occur. The day the crypto traders have long-awaited is almost here. At the opening bell on Oct. 19, a ProShares futures-based BTC ETF is scheduled to launch and analysts are predicting that additional ETFs will rollout over the coming week. Data from Cointelegraph Markets Pro and TradingView shows that an early morning attempt by bears to drop the price back below $60,000 was well defended by traders and at the time of....
A bigger Bitcoin pullback or a consolidation might follow, analysts say, as the risk of whale sell-off remains. Analysts say a larger Bitcoin (BTC) price pullback or a consolidation period could occur. The two factors that could trigger more downside include increasing whale activity and short-term resistance.Bitcoin whale watchingAs Cointelegraph reported, Bitcoin crashed after it surpassed $19,400 across major exchanges. It dropped to below $16,400 before slightly recovering. But analysts foresee another possible drop incoming, especially if BTC does not rebound strongly in the near....
While fundamental analysts predict a continued rally to $1000 and beyond for the foreseeable future, technical indicators paint a more detailed picture. According to the charts, the ride up to $1000 will be bumpy, with periods of profit taking and resistance, especially around the $800 range. Almost at the $820 technical objective level, a distribution zone could take place with a trading box among this resistance and $600. Indicators reflect fiction prices at this level, with irregular trading volume because of the distribution activity depending on the fresh demand of new holders.....
We take a look at various influences keeping the short term price down that also contribute to long term bullishness.