Category: Bitcoin Analysis

Why Are Bitcoin Miners Moving An “Unusually” Large Amount of BTC?

boss

Bitcoin is an asset unlike any other. Not only are prices impacted by normal market participants buying and selling, but miners powering the underlining network with massive BTC reserves can also have an even greater effect. Several large miners were seen moving “unusually large” sums of BTC overnight, just ahead of the massive market collapse. Could they be responsible for the most recent plummet in Bitcoin price below $11,000? And why are these miners suddenly selling their cryptocurrency when the asset is supposed to be in a new bull market?…

Bitcoin Needs to Reclaim This One Crucial Level to See Further Upside

boss

Bitcoin has been flashing signs of overt weakness throughout the past few hours, dropping as low as $10,400 before facing an influx of buying pressure that allowed its price to surge back up to highs of $10,800. The cryptocurrency now appears to be caught within a short-term consolidation phase as bears and bulls fight for control over its near-term trend. This may cause it to see some range-bound trading in the near-term, but analysts are noting that its outlook still remains positive as long as it continues defending one crucial…

Bitcoin Breaks Below $11,000, How Deep Will The Selloff Go?

boss

Bitcoin price just two days ago was trading above $12,000, but a failure to hold above the key resistance level has sent the cryptocurrency tumbling. Moments ago, the crypto asset fell below $11,000 for the first time in over a month. Can bulls hold this important support, or is this just a pit stop on the way down further? Bitcoin Falls Below $11,000 Momentarily, Bulls Attempt To Build Support Bitcoin price continues to struggle now that its broken above resistance at $10,000. Much like that critical level prevented the cryptocurrency…

There’s an “Unusual” Amount of Bitcoin Sellling Pressure From Miners

boss

Bitcoin took a strong dive during Wednesday’s trading session. The asset fell from the $12,075 highs of the day prior to a local low around $11,200, marking a 7% correction. The leading cryptocurrency remains near the lows as buyers have yet to step in en-masse. There seems to be some uncertainty about the medium-term future of BTC as the price of gold flags seemingly due to the U.S. dollar bouncing. Investors are responding in kind. Data suggests that BTC miners are liquidating some of their tokens, suggesting that they perhaps…

Tron (TRX) Outperforms Bitcoin, But Here’s Why It Could Correct Lower

boss

Tron price is up over 5%, while bitcoin is down over 5% against the US Dollar. TRX is currently testing a crucial resistance near $0.0385 and it could correct lower in the short-term. Tron price is trading in a positive zone well above the $0.0320 pivot level against the US dollar. The price traded to a new weekly high at $0.0386 and it is currently consolidating gains. There is a key connecting bullish trend line forming with support near $0.0350 on the 4-hours chart of the TRX/USD pair (data source…

There’s a Crucial Silver Lining to the Bitcoin Price’s 7% Correction

boss

Bitcoin saw a strong crash on Wednesday after another attempt at breaking past and holding $12,000. The leading cryptocurrency dropped as low as $11,200 as sellers flooded the market. Some say it was news that the office of Bithumb, a leading exchange in South Korea, was raided that crashed the market. BTC has yet to reclaim the $11,500 support on the bounce after this move. Regardless, analysts remain optimistic as the asset’s medium to long-term time frame outlook remains strong. Related Reading: These 3 Trends Suggest BTC Is Poised to Bounce…

Monthly MACD Bearish Divergence Warns Of Imminent Bitcoin Crash

boss

Bitcoin price over the 24 hours plummeted from over $12,000 to as low as $11,150 in a violent selloff. As blood runs in the streets and the crypto market turns into a sea of red, investors must decide to buy the dip or sell before things get worse. According to a massive bearish divergence on the monthly MACD dating back more than a year, selling may be the better of the two options. If the bearish signal confirms, what might this mean for the leading cryptocurrency by market cap? Bitcoin…

Bitcoin’s 7.5% Plunge Open Doorways to $10,500, Per Analysts

boss

Bitcoin plunged lower on Wednesday, continuing its correcting downtrend after hitting a near two-week high at $12,086 earlier this week. The benchmark cryptocurrency fell by up to 6.41 percent to $11,160. Its move downhill extended the net pullback to 7.47 percent, signifying a renewed selling pressure in the $11,700-$12,000 area. That was the fifth time since August 1 the price rejected $12,000 as its price floor to expand its prevailing bull run. Conversely, the rejections paved the way for BTC/USD to retest flipped support levels near $10,500. Market analyst Nico…

Bitcoin Price (BTCUSD) Sees Violent $750 Drop, Top Formation Appears

boss

Yesterday, crypto bulls began celebrating as Bitcoin poked its head above resistance at $12,000 momentarily, before pulling back ahead of the first daily close of the new month. The failure to set a new high, coinciding with some bearish technical signals and underlying market factors, may have prompted the selloff. But how low will this correction go? Is this another opportunity to buy the dip, or is this a more extensive reversal? Bitcoin Price Forms Head And Shoulders After Today’s 6% Correction, Targets Retest of $10,000 Bitcoin price has been…

Bitcoin, Metals, And Equities “Will Fly” If Dollar Downtend Deepens

boss

The dollar’s impact on markets in 2020 cannot be overstated. Its weakness and decline in the face of the pandemic and a dwindling US economy, has allowed assets like Bitcoin, precious metals, and equities to surge. However, the DXY Dollar Currency Index just closed a monthly candle below an over decade-long trend line dating back to the United States’ exit from the Great Recession. And it could mean more downside ahead. DXY Loses Trend Line Dating Back To Great Recession All global financial markets are tied to the United States…