Bitcoin Trims Gains, Why BTC Could Start Fresh Decline

Bitcoin extended decline and traded below $29,000 against the US Dollar. BTC must stay above the $28,500 level to avoid a sharp decline in the near term. Bitcoin started a fresh decline from the $30,500 resistance zone. The price is now trading below the $30,000 level and the 100 hourly simple moving average. There was a break below a connecting bullish trend line with support near $29,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend decline if there is a clear move…

Bitcoin Eyes Fresh Increase But This Level Is The Key

Bitcoin is stable above the $29,600 support against the US Dollar. BTC must clear the $31,350 resistance to start a decent increase. Bitcoin is struggling to gain momentum above $30,500 and $30,600. The price is now trading near the $30,000 level and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $29,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if there is a close above the $31,350 resistance. Bitcoin Price Is…

Bitcoin Marks Seven Consecutive Red Candles, Paints Gruesome Picture For Market

Bitcoin has now entered perhaps one of its most bearish periods ever. The cryptocurrency which has held up quite nicely through all of the market scandals is seeing even more bad news ahead. Previously, it has seen a good number of consecutively red closes that have solidified its entrance into a bear market. However, this time around, it seems that the digital asset is ready to set another record, but this time for the worse. Seven Red Candles Anyone that has been following the market recently knows that Bitcoin has…

Why Bitcoin Still At Risk of A Fresh Decline Below $29K

Bitcoin attempted a recovery wave above the $30,000 resistance against the US Dollar. BTC is struggling near $31,000 and might start a fresh decline. Bitcoin recovered above the $30,000 level but struggled above $31,000. The price is now well above the $30,000 level and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $30,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh decline if it clears the $30,000 support zone Bitcoin Price…

Bitcoin Recovers Above $30,000, Has The Bottom Been Marked?

Bitcoin has now started another recovery trend that has seen it mark its position above $30,000 once more. This is a welcome development after the market had seen various crashes that have sent investors into a panic. However, while investors heave a sigh of relief as the digital asset has begun to recover, other concerns have arisen in the market, including if the uptrend will continue and if bitcoin has already seen the bottom of this crash. Did It Mark The Bottom? The recent comeback has indicated that bitcoin has…

Bitcoin Gains Momentum, Why Break Above $30K Is Crucial

Bitcoin dived towards the $25,000 support zone against the US Dollar. BTC is now recovering and might eye an upside break above the key $30,000 resistance zone. Bitcoin found support above $25,000 and started an upside correction. The price is still trading below $30,000 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $30,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $30,000 barrier to move into a positive zone and started…

Ethereum Dives 15%, Why Close Below $2K Is The Key

Ethereum gained bearish momentum below $2,000 against the US Dollar. ETH even traded below $2,000 and remains at a risk of more losses. Ethereum started a fresh decline below $2,100 and $2,000. The price is now trading below $2,100 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $2,250 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue to move down if there is a close below the $2,000 support. Ethereum Price Breaks $2K…

Bitcoin Breaks $30K, Why This Could Turn Into Larger Downtrend

Bitcoin failed to recover above $32,000 against the US Dollar. BTC is gaining bearish momentum and trading below the key $30,000 support zone. Bitcoin started a fresh decline and traded below the key $30,000 support zone. The price is now trading below $30,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $31,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might accelerate lower below the $27,500 and $27,000 levels in the near term. Bitcoin…

Ethereum Nears Breakout Zone, Why ETH Might Start Recovery

Ethereum started an upside correction from $2,200 against the US Dollar. ETH might gain bullish momentum if it clears the $2,400 resistance zone. Ethereum started an upside correction above $2,300 and $2,320. The price is still trading below $2,400 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $2,385 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a steady recovery wave if there is a close above $2,400 and $2,450. Ethereum Price Faces Breakout Resistance…

Bitcoin Dives To $30K, Why Short-term Recovery Seems Possible

Bitcoin extended losses and even spiked below $30,000 against the US Dollar. BTC is now consolidating and might correct higher towards the $32,000 resistance. Bitcoin started a strong decline below the $33,500 and $32,000 levels. The price is now trading below $32,000 and the 100 hourly simple moving average. There are two important bearish trend lines forming with resistance near $32,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might correct higher, but the bears might remain active near $32,000. Bitcoin Price Declines 10%…