Category: Bitcoin

Bitcoin price failed to stay above the key $8,500 support area and extended its decline against the US Dollar. BTC price is likely to continue lower towards $8,000 or $7,880. Bitcoin started a strong corrective decrease from the $9,200 resistance area. The price broke the key $8,500 and $8,470 support levels to move further into a bearish zone. Yesterday’s highlighted key bearish trend line is active with resistance near $8,470 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to extend its decline…

Bitcoin entered a negative slope on Thursday as traders took profits from its latest price rally. But the cryptocurrency remained above a strong technical support level. Spot BTC/USD exchange rate was down 3.84 percent at $8,360.87 ahead of the New York morning session open. At the same time, bitcoin futures listed on CME fell by more than 6 percent. to $8,385. $BTC #BITCOIN Getting towards the area, which is basically the high from 8 January. Given that everybody wants to long $8,200-8,250, I doubt we’ll reach it, if we are…

Top bitcoin rivals suffered major losses on Thursday after bulls failed to extend the last week’s wild upside price rally. Bitcoin SV’s BSV, after its stupefying climb before mid-January session, led the march downwards. The token fell by more than 9 percent on a 24-hour adjusted timeframe. Stellar’s XLM and Binance’s BNB followed suit, dipping by more than 6 and 5 percent, respectively. The least affected coins included Ethereum, XRP, and Bitcoin Cash, all of which fell in the range of 2-3 percent. Collectively, the ongoing altcoin purge prompted the…

Bitcoin bulls are facing an uphill task near $8,700 and $8,800 against the US Dollar. BTC price could either rally above $8,800 or decline heavily below $8,470 in the coming sessions. Bitcoin is showing a few bearish signs after it was rejected near $8,800. The price is currently sliding and it is approaching the key $8,560 and $8,470 support levels. There is a major bearish trend line forming with resistance near $8,640 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could either start a…

A textbook candlestick pattern is showing a very rosy future for Bitcoin SV (BSV). The fifth-largest cryptocurrency by market cap lately formed a Golden Cross – a bullish signal wherein an asset’s short-term moving average closes above its long-term moving average. It achieved the mettle after surging by a parabolic 500 percent – from $77.2 to $458.74 – in just less than a month. Bitcoin SV undergoes a parabolic rise | Source: TradingView.com, BitFinex The Tulip Pump The wild upside move borrowed sentiments from the claims of Bitcoin SV founder,…

Bitcoin is looking to repeat a technical pattern that crashed its price to $3,120 in late 2018. The leading cryptocurrency by valuation made a rebound from levels near $13,920 during June 2019. It plunged by more than 53 percent in the later sessions, falling to establish a local bottom towards $6,410. Entering January 2020, an upside recovery pushed bitcoin’s rate to a swing top of $9,190. $BTC bulls always have the last laugh https://t.co/it38weJaHz — The Crypto Dog📈 (@TheCryptoDog) January 22, 2020 The latest move uphill improved the cryptocurrency’s interim…

Over the past month, Bitcoin (BTC) has absolutely exploded higher. In fact, the cryptocurrency is up around 40% since the low of $6,400 put in during December of last year. While many analysts have said that this jaw-dropping rally constitutes a macro reversal that will thrust BTC back into a decisively bullish phase, some aren’t so sure. In fact, a number of commentators have suggested that the crypto market’s current price action is eerily reminiscent to that of the middle of July of 2018, which saw Bitcoin see a false…

Less than a year ago, almost all the major crypto exchanges delisted Bitcoin SV (BSV) over their bad blood with its founder – and self-proclaimed Bitcoin creator – Craig Wright. But that did not deter the fifth-largest cryptocurrency from establishing an all-time high. The BSV-to-dollar exchange rate last week peaked at $458.70 as investors shifted their focus on its upcoming hard fork. On February 4, a code modification, codenamed “Genesis,” is hopeful to make Bitcoin SV blockchain more similar to the original Bitcoin created by Satoshi Nakamoto. Founding president Jimmy…

A long-term bitcoin price resistance has flipped to become support for what appears to be a potential bullish action. The 50-weekly moving average (50-SMA), which measures the average of bitcoin prices over a 50-week period, looks to assume the role of a strong pullback level. The year’s first week marked the first time price closed above the technical indicator since late-April, as shown in the chart below. Bitcoin looks to continue price rally above blacked support wave | Source: TradingView.com, Coinbase A crossover above the 50-SMA earlier in April pushed…

Whales on the world’s largest bitcoin margin trading platform BitMEX are selling large amounts of BTC. After the rejection at $9,200, investors are seemingly moving towards hedging their holdings to brace for a bigger pullback. According to a platform that reports unusually sizable sell orders on BitMEX, many whales sold millions of dollars worth bitcoin in the past 24 hours. BitMEX $BTC Whale:$10,000,000 worth of #Bitcoin sold at $8,655.18 01:47:54 2020/01/20| 💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰💰 So scared right now — WhaleTrades 🐳 (@WhaleTrades) January 20, 2020 One particular whale, which refers to an…