Bitcoin Weekly Forecast: BTC Price Turned Sell On Rallies

After settling below $9,000, bitcoin declined steadily against the US Dollar. The price is under a lot of pressure below the $8,700 and $8,650 resistance levels. There is a crucial bearish trend line forming with resistance near $8,630 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The price could correct higher, but it is likely to face sellers near the $8,700 resistance area. Bitcoin price is trading in a bearish zone towards $8,200 against the US Dollar. BTC remains sell on rallies unless there is a…

Crypto Markets Turn Red While BTC Fails to Impress Below $8,500

Friday, Nov. 15 — Crypto markets are mostly showing red candlesticks, while Bitcoin (BTC) fails to impress as it crawls its way below the $8,500 price point. Cryptocurrency market daily overview. Source: Coin360 For most of the day, the world’s largest cryptocurrency has been trading within a tight range between $8,700 and $8,600, while taking a sudden swing below the $8,500 price mark during recent hours. Bitcoin is currently trading at a price of $8,480, showing a loss of 1.85% on the day. Bitcoin daily price chart. Source: Coin360 Despite…

Bitcoin Price Diary: VET, XLM, TRX Double-Digit Gains — BTC Flatlines

Veteran trader secures a 60% profit on VeChain, 8% on Tron, 18% on Stellar Lumens and breaks even on Bitcoin. Altcoins have continued to boom while Bitcoin (BTC) has effectively traded sideways. I closed the majority of my position in VeChain (VET) for a quick 60% profit and nailed my exit on Stellar Lumens (XLM) almost exactly at the top. I am once again long on Bitcoin from $8,375 and have stopped out in profit from a position on Tron (TRX). Update on the Bitcoin position I entered a fresh…

Price Analysis 15/11: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX

Bitcoin price looks weak but this fall below $8,500 might turn out to be a buying opportunity. Fundstrat’s Tom Lee believes that cryptocurrencies “are network value assets” and as the number of people who hold the asset increases, the value of the cryptocurrencies would also move up. According to him, about half a million people use and own Bitcoin currently and if the number doubles, he expects Bitcoin (BTC) to easily reach his target of $25,000. Binance founder and CEO Changpeng Zhao believes that Chinese President Xi Jinping’s support of…

Bitcoin (BTC) Recovering But Is This Real Correction?

Bitcoin price is currently correcting higher above the $8,600 resistance area against the US Dollar. The price is still facing a strong resistance near the $8,700 and $8,780 levels. Morning’s major declining channel is preventing gains near $8,705 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could correct further, but a clear break above $8,880 is needed for a convincing rise. Bitcoin price is showing signs of an upside correction above $8,600 against the US Dollar. However, BTC is still facing a lot of…

Like FAANG Stocks, BTC Will Hit $25K Due to ‘Network Value’

Fundstrat’s Tom Lee believes Bitcoin (BTC) will accrue price value following a similar logic to the Silicon Valley tech titans. During an interview for CNBC’s Street Signs Asia on show on Nov. 15, Lee argued that cryptocurrencies “are network value assets” — and share this with the world’s most successful tech stocks. “Network value assets” Lee — a renowned Bitcoin bull, co-founder and Wall Street strategist at Fundstrat Global Advisors — made his argument when asked about the logic behind Fundstrat’s $25,000 by 2022 forecast for Bitcoin.  Noting that the…

Bitcoin (BTC) In Slow And Steady Decline, $8.2K Likely Target

Bitcoin price is currently declining below the $8,600 support area against the US Dollar. A new monthly low was formed near $8,457 and the price is currently correcting higher. There is a key declining channel forming with resistance near $8,710 on the hourly chart of the BTC/USD pair (data feed from Kraken). There is a risk of more downsides as long as the price is below $8,700 and $8,880. Bitcoin price is gaining bearish momentum below $8,700 against the US Dollar. Therefore, BTC could continue to move down towards the…

Bitcoin (BTC) Price Looks Set For Another Breakdown

Bitcoin price is extending losses and it traded below the $8,640 support against the US Dollar. The price is likely to decline further below the $8,560 and $8,500 support levels. Morning’s short term breakout pattern was breached with support near $8,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The current price action suggests another breakdown below the $8,550 support area. Bitcoin price is declining below key supports against the US Dollar. BTC might tumble towards $8,300 or $8,200 once the bears clear the $8,550 and…

Bitcoin (BTC) Price Poised for Declines Unless It Breaks $9K

Bitcoin price is trading with a bearish angle below the $8,880 resistance against the US Dollar. The price is likely to continue lower below the $8,640 and $8,600 support levels. There is a short term breakout pattern forming with resistance near $8,740 on the hourly chart of the BTC/USD pair (data feed from Kraken). The bears remain in control unless the price climbs above $8,880 and $9,000. Bitcoin price is under a lot of pressure below $8,880 against the US Dollar. BTC could decline significantly if it breaks the $8,640…

Price Analysis 13/11: BTC, ETH, XRP, BCH, LTC, EOS, BNB, BSV, XLM, TRX

While Bitcoin price action remains lackluster, altcoins are attempting to make a strong upside move. Although Bitcoin (BTC) is not showing any trending move, Bakkt and the Chicago Mercantile Exchange (CME) Group continue to roll out products designed to attract the large traders. Bakkt recently announced that it will add a cash-settled futures contract to its existing Bitcoin-settled contract. On the other hand, the CME group plans to offer options on Bitcoin futures after receiving the necessary regulatory approvals.  Bitfinex cryptocurrency exchange is also planning to launch a slew of…