Tag: 132K

Market Wrap: Bitcoin Bounces From $13.2K; Ether on Centralized Exchanges at 2-Year Low

boss

Bitcoin opened the week recovering from a dip while ether balances on centralized exchanges fell. Bitcoin (BTC) trading around $13,673 as of 21:00 UTC (4 p.m. ET). Slipping 1.2% over the previous 24 hours. Bitcoin’s 24-hour range: $13,221-$13,877 BTC above its 10-day but below the 50-day moving average, a sideways signal for market technicians. Bitcoin trading on Bitstamp since Oct. 31.Source: TradingView Bitcoin’s price dipped as low as $13,221 at around 12:00 UTC (7 a.m ET), according to CoinDesk 20 data. It subsequently rebounded up to $13,673 as of press…

Bitcoin Rally Vulnerable If It Continues To Struggle Below $13.2K

boss

Bitcoin price made another attempt to gain momentum above $13,200 against the US Dollar, but failed. BTC is likely to react to the downside if it continues to struggle near $13,200 and $13,300. Bitcoin corrected lower below $13,000, but it found support near $12,800. The price is back above the $13,000 zone and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $12,880 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must gain strength above $13,200…

Bitcoin Hesitates Above $13.2K, But 100 SMA Could Trigger Another Increase

boss

Bitcoin price traded to a new monthly high at $13,352 before correcting lower against the US Dollar. BTC is currently trading nicely above the 100 hourly SMA and it could attempt another increase. Bitcoin is trading nicely above the $12,800 and $13,000 support levels. The price is holding gains above the 100 hourly simple moving average, with a positive angle above towards $13,300. There is a crucial bullish trend line forming with support near $12,900 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is…

Bitcoin’s brief trip to $13.2K suggests profit-taking price correction

boss

The price of Bitcoin (BTC) surpassed $13,000 for the first time since June 2019. The optimism around PayPal supporting crypto purchases led the overall market sentiment to brighten within a short period. Immediately after the PayPal news was reported, the price of Bitcoin increased from $12,300 to $13,200 at the day’s peak. Although the medium-term outlook of the cryptocurrency market remains positive, analysts are not dismissing the likelihood of a pullback. Bitcoin surged 25.5% within a 13-day span from Oct. 8. Initially, the BTC rally began as profits from altcoins…