Category: Bitcoin Analysis

Bitcoin Price Watch: BTC Signaling Decent Comeback Above $3,700

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Bitcoin price declined again and tested the $3,550 support area before recovering against the US Dollar. There was a break above a major bearish trend line with resistance at $3,585 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently showing positive signs above the $3,600 support level, with a bullish angle. Bitcoin price broke a key resistance near $3,600 recently against the US Dollar. The current price action is positive, signaling an upside extension above $3,700 in the near term. Bitcoin Price Analysis…

Crypto Market Update: EOS, Bitcoin Cash, Tron (TRX), IOTA Price Analysis

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The total crypto market cap broke a major resistance near the $117.00B level. EOS price broke the $2.50 resistance and it may rise towards the $2.62 level. Bitcoin cash price jumped above the $130 level and it might head towards the $135 resistance. Tron (TRX) price is up more than 3% and it seems like it could test $0.0262. IOTA gained more than 6% and it is likely approaching the $0.3250 resistance level. The crypto market is slowing recovery, with positive signs for bitcoin (BTC) and Ethereum. Similarly, BCH, ripple,…

Bitcoin Price Watch: BTC At Risk of Sharp Decline, Could Retest $3,400

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Bitcoin price failed to recover above the $3,650 resistance and declined recently against the US Dollar. There was a break below a major contracting triangle with support at $3,590 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently trading in a bearish zone and it may accelerate losses to $3,500 and $3,400. Bitcoin price is under selling pressure below $3,650 against the US Dollar. There are high chances of more losses in BTC below $3,500 and $3,450 in the near term. Bitcoin Price…

2019 a Year of Accumulation For Bitcoin, Recovery by Year’s End

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Bitcoin could see a recovery by the end of 2019. | Source: Shutterstock In the past 24 hours, the crypto market has recovered from $120 to $123 billion as the Bitcoin price avoided a further drop below the $3,600 mark. The bitcoin price avoided a further drop below $3,600. Ethereum has also been able to rebound relatively quickly from the delay of the Constantinople hard fork, which initially caused a 10 percent drop from $130 to $116. Slow Grind Up For Bitcoin Expected in 2019 Due to the intensity of…

Bitcoin Price Watch: Choppy Price Action Could Lead BTC Higher

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Bitcoin price found support near $3,400 and later recovered above $3,660 against the US Dollar. There was a break above a key bearish trend line with resistance at $3,560 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently consolidating above $3,600 and it could dip towards the $3,560 support. Bitcoin price recovered nicely above $3,500 and $3,600 against the US Dollar. However, the current price action is choppy, suggesting swing moves in BTC above $3,560. Bitcoin Price Analysis Recently, we saw a major…

Bitcoin Price Analysis: BTC Exposed, ETF Hopes Dimming?

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Bitcoin Price slide, potential support at $3,400 or 78.6 percent Fibonacci level SEC may not approve Bitcoin ETF Reaction at $3,700 important for bulls In the short-term, sellers seem to be in charge and yesterday’s drop below our immediate support at $3,700 may lead to reductions towards $3,400. In the midst of this, we are net bullish because of buy pressures of week ending Dec 23. Bitcoin Price Analysis Events of the week ending Dec 23 and consequent follow through reinvigorated bulls. Regardless, the fact that prices reversed from the…

Following $5 Billion Drop in Crypto, Traders See Weakness in Bitcoin

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On January 13, the crypto market initiated an intense sell-off as the Bitcoin price fell below the $3,500 mark. The weakness in the short-term price trend of BTC led the market to demonstrate volatility on the downside. More than $5 billion was wiped out of the crypto market and major assets like Ethereum recorded a six percent drop. Where is Bitcoin Headed? Generally, both analysts and traders expect Bitcoin to fall to the low $3,000 region in the days to come. Some have suggested that a strong buy wall below…

Tim Draper Made $89M+ From His Bitcoin Investment in 5 Years

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Billionaire venture capital investor Tim Draper has made $89.1 million from his Bitcoin investment in less than five years. In 2014, Tim Draper purchased a bulk of 30,000 BTC from the U.S. authorities in an auction. He outbid all participating investors by paying $632 per Bitcoin, with a slight premium. The $18.96 million he spent in 2014 is now worth $108 million despite the 80 percent correction the dominant cryptocurrency experienced in the past 12 months. Money Makes Money: Bitcoin is a Prime Example Vinny Lingham Previously, as CCN reported,…

Japan Not Considering Approval of Bitcoin ETF, FSA Denies Reports

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According to a spokesperson from the Financial Services Agency (FSA), Japan is not considering the approval of a Bitcoin exchange-traded fund (ETF). Speaking to Bitcoin.com, an FSA representative said: There is no such fact that we are considering approving ETFs which track crypto-assets at present. We are not currently considering approving them. Japan Doesn’t See the Need for a Bitcoin ETF Last week, several sources including Bloomberg reported that Japan is exploring the possibility of approving Bitcoin ETFs as an alternative to Bitcoin futures. The reports led to an increase…

Bitcoin Price Weekly Analysis: BTC’s Bullish and Bearish Scenarios Analyzed

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Bitcoin price declined recently and traded below the $3,725 support against the US Dollar. There is a short term breakout pattern forming with resistance near $3,650 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair may soon make the next move either above $3,650 or below $3,550 in the near term. Bitcoin price faced an increased selling pressure below $3,700 against the US Dollar. BTC/USD is aligned for the next break either bullish above $3,650 or bearish below $3,550. Bitcoin Price Analysis This past week,…