Bitcoin ( BTC/USD) and Ether (ETH/USD) Market Update: Jan 16

Global crypto market cap is up with $4 billion since Monday and now stands at $121 as Top 10 currencies managed to avoid further loses.  BTC/USD Bitcoin briefly dropped below $3,600 on January 13, but successfully rebounded on the next day, January 14 gaining 4.4% in value. The BTC/USD pair erased all losses from the previous three days and closed the session at $3,750. Yet another hack in crypto world. The New Zealand-based exchange Cryptopia announced that on January 14 it “suffered a security breach which resulted in significant losses.”…

Bitcoin Price Analysis: BTC/USD Trends of January 14–20, 2019

Photo: QuoteInspector Key Highlights: Bitcoin price broke out of the ranging movement; the Bulls lost the momentum on the 4-Hour chart; there is a probability for further declination of BTC price. BTC/USD Long-term Trend: Bearish Resistance levels: $3,679, $4,249, $4,715Support levels: $3,247, $2,765, $1,956 BTC/USD broke out the ranging phase on the long-term outlook. The cryptocurrency eventually broke out of the range-bound movement between the resistance level of $4,249 and the last week support level of $3,677 which the Bitcoin price has been involved for over two weeks. The bearish…

Bitcoin Price Analysis: BTC/USD Trends of January 7–13, 2019

Key Highlights: Bitcoin price remains on sideways movement within the range; the bulls pushed up the BTC price towards $4,249 price level; the break out is imminent on the BTC market. BTC/USD Long-term Trend: Ranging Resistance levels: $4,249, $4,715, $5,424Support levels: $3,679, $3,247, $2,765 The cryptocurrency remains on the consolidating phase on the long-term outlook. Throughout last week the Bitcoin price remains to trade on the 21-day EMA without any significant movement. Both the bears’ pressure and the bulls’ pressure were still at equilibrium; the BTC is still range-bound between…

Bitcoin Price Analysis: BTC/USD Trends of December 31–January 06, 2019

The bearish candle will have to penetrate and close below the support level of $3,679 before BTC price will experience bearish breakout and this may return it to its previous low of $3,247. Key Highlights: Consolidation is ongoing on the Bitcoin market; the break out is imminent on the market; bearish breakout may return the Bitcoin price to its previous low. BTC/USD Long-term Trend: Ranging Resistance levels: $4,249, $4,715, $5,424Support levels: $3,679, $3,247, $2,765 BTC/USD is ranging on the long-term outlook. The Bulls lost their pressure that took the BTC…

Bitcoin Price Analysis: BTC/USD Trends of December 24–30, 2018

Photo: QuoteInspector Key Highlights: There was a bullish break out; bears lost control over Bitcoin market; the bulls were in charge of the BTC market. BTC/USD Long-term Trend: Bullish Resistance levels: $4,716 $5,447, $6,281Support levels: $4,224, $3,649, $3,209 BTC/USD experienced a bullish rally as it was predicted last week. There was a bullish candle that broke and closed above the former resistance level of $3,649. The cryptocurrency was ranging within the former resistance level of $3,649 and support level of $3,209 started on December 7 before the bullish breakout on…

Bitcoin Price Analysis: BTC/USD Trends of December 17–23, 2018

Photo: QuoteInspector Key Highlights: Consolidation is ongoing; bears were still in control of Bitcoin market; break out is imminent; BTC/USD Long-term Trend: Ranging Resistance levels: $3,726, $4,426, $5,070Support levels: $3,094, $2,261, $1,500 The cryptocurrency continues the ranging movement on the long-term outlook; the sideways movement of BTC price is not yet over as long as the Bitcoin price remains within the range of $3,726 resistance level and $3,094 support level. As predicted last week there was no significant movement on the BTC market. There was a slightly bearish push towards…

Bitcoin Price Analysis: BTC/USD Trends of December 10–16, 2018

Key Highlights: Traders should remain flat; bulls may take over the Bitcoin market in case there is a breakout above $3,726; break out is imminent. BTC/USD Long-term Trend: Ranging Resistance levels: $3,726, $4,426, $5,070Support levels: $3,094, $2,261, $1,500 BTC/USD is ranging on the long-term outlook; the cryptocurrency started sideways movement on November 24 within the range of $4,426 and $3,726 price level and it continues till December 5. The bears gained pressure and pushed the coin down to break the former support level of $3,726, then started consolidating again. The…

Bitcoin Price Eyes Support at $3,000 as BTC/USD Sets New Yearly Low

The bitcoin price on Friday plunged 6.5 percent against the US Dollar, breaking below the flagship cryptocurrency’s previous yearly low at $3,455. The bearish cycle took another turn after the Securities and Exchange Commission (SEC) halted its decision on the VanEck’s upcoming bitcoin ETF once again. The fundamental has been treated as one of the strongest bullish catalysts for the bitcoin market, with many believing that its approval would bring a minimum of $1 billion investment into space. In case the US regulator disapproves it, the market sentiment would be…

Bitcoin Price Watch: BTC/USD Primed To Test $3,000

Key Points Bitcoin price declined further and broke the $3,550 and $3,420 support levels against the US Dollar. There is a major bearish trend line formed with resistance at $3,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to decline further and it may even test the $3,000 level in the near term. Bitcoin price declined heavily below $3,550 against the US Dollar. BTC/USD remains in a downtrend and it could even trade towards $3,000 or $2,800. Bitcoin Price Analysis After forming…

Bitcoin Price Watch: BTC/USD Bounce From Lows Could Fade Soon

Key Points Bitcoin price declined and broke the last swing low at $3,730 against the US Dollar. There are two crucial bearish trend lines in place with resistance at $3,850 and $3,900 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could face a solid resistance and it could decline back towards $3,730. Bitcoin price jumped back after trading towards $3,620 against the US Dollar. However, upsides remain capped near the $3,900 and buyers are likely to struggle. Bitcoin Price Analysis Recently, there was an…