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…

Bitcoin Price Risks Falling Under $8.4K If the Bulls Don’t Step Up Now

Bitcoin (BTC) price is still retracing from the massive rally two weeks ago, which leads the sentiment to turn bearish. Several signs indicate that the price needs to reverse quite soon, or the whole upwards move is deleted from the charts. Crypto market data. Source: Coin360 Bitcoin loses 200-Day MA and EMA for the second time in 2019 The daily chart shows that the price of Bitcoin once again can’t hold support on the 200-Day Moving Average (MA) and Exponential Moving Average (EMA). Such a move often leads to a…

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…

Fundstrat ‘s Tom Lee Sets $25k Price Target for Bitcoin Comparing It to FAANG Stocks

On 15 November, during an interview for CNBC journalists, Tom Lee gives price prediction to set some fire. Cryptocurrency will show its potential as a “network value asset”, according to Tom. He said Bitcoin is similar to FAANG stocks that represent the top companies of the U.S. economy: Facebook, Apple, Amazon, Netflix, and Google. By referring to the shares of the companies above, Tom inkles that cryptocurrencies are gaining their value from supportive crowds: “Cryptocurrencies are network value assets, meaning the more people hold the asset, the greater the value. It’s…

Fundstrat ‘s Tom Lee Sets $25k Price Target for Bitcoin Comparing It to FAANG Stocks

On 15 November, during an interview for CNBC journalists, Tom Lee gives price prediction to set some fire. Cryptocurrency will show its potential as a “network value asset”, according to Tom. He said Bitcoin is similar to FAANG stocks that represent the top companies of the U.S. economy: Facebook, Apple, Amazon, Netflix, and Google. By referring to the shares of the companies above, Tom inkles that cryptocurrencies are gaining their value from supportive crowds: “Cryptocurrencies are network value assets, meaning the more people hold the asset, the greater the value. It’s…

Bitcoin Price Back ‘On the Edge’ Says Trader After $8.8K Rejection

Bitcoin (BTC) staged a dramatic breakout of its weekly trading corridor on Nov. 15, but selling pressure rejected an attempt to break $9,000.  Cryptocurrency market daily overview. Source: Coin360 Bitcoin fails to break resistance at $9K Data from Coin360 shows BTC/USD suddenly moving upwards on Friday, hitting $8,800 in minutes from previous levels closer to $8,550.  The bullish momentum failed to last, however, with Bitcoin returning to lower levels below $8,600 just thirty minutes later.  At press time, BTC/USD was trading at around $8,580, having come full circle in under…

Bitcoin Price Slips below $8700 despite High Open Interest

After consolidating its position above $8700 levels for the past few days, the Bitcoin price crashed another 1% today. At press time, Bitcoin is trading at $8640 with a market cap of $155 billion. The latest price drop comes as Bitcoin has been a victim of sideways trading ever since it failed to sustain above $9000. With this move, Bitcoin has slipped below its major support of $8700. This move has clearly raised the exposure of further slipping to its next support of $8550. Over the last month, Bitcoin’s performance…

Ripple (XRP) Price Primed For Additional Losses, $0.2450 Next?

Ripple price is following a downtrend below the $0.2700 support area against the US dollar. The price is currently trading near the $0.2620 support and it could continue to decline. This week’s crucial bearish trend line is active with resistance near $0.2700 on the hourly chart of the XRP/USD pair (data source from Kraken). Similarly, Ethereum is trading near a key support and it could break down below $180. Ripple price is trading with a bearish bias below $0.2700 against the US Dollar, similar to bitcoin. XRP price remains at…

Bitcoin Price Defies ‘Death Cross’ as Bulls Pin Hopes on $9.1K Bounce

Bitcoin (BTC) price continues to trend lower, marking 5 consecutive lower highs as the price makes a stairstep decline in a falling wedge. Interestingly, the pattern is interpreted by many analysts as a signal of a potentially bullish outcome so perhaps there is still hope. Crypto market data daily view. Source: Coin360 BTC USD daily chart. Source: TradingView The price has pierced the $8,674 support three times over the past 4 days, increasing the chance that the price will drop to the lower trendline of the falling wedge at $8,480.…