It’s a bull trap! 3 key metrics forecast Bitcoin price rejection at $11K

Traders are usually skeptical as Bitcoin (BTC) approaches key resistances, and there was no exception as the price added 7.7% to attack the $11K level.   Not every rally will shift technical indicators to overbought levels, but there is usually some gain in volume and futures contracts sentiment that may transition from neutral to bullish. Derivatives markets are especially sensitive to trend changes due to leverage. Yesterday, as Bitcoin price closed in on $11K, Cointelegraph cautioned that the move shouldn’t raise hopes too high as rejection at this level could be…

Ethereum Price Drop Below This Level Could Mean Bigger DeFi Carnage

The price of Ethereum (ETH) has dropped from $488 on September 2 to below $380, falling by over 22%. If the correction of ETH continues, traders say decentralized finance (DeFi) tokens could further suffer. Despite the rally of Bitcoin from $10,300 to over $11,000, DeFi tokens and Ethereum have underperformed. The daily chart of Ethereum with key levels. Source: Flood, ETHUSD on TradingView.com Some traders are considering the possibility of a take-profit rally, as investors funnel profits from altcoins back to Bitcoin. Coincidentally, the Bitcoin dominance index rose sharply in…

Is UniSwap at risk after SUSHI and CRV price crash in DeFi bloodbath?

In recent months, the focus of the cryptocurrency markets has been on the Decentralized Finance or DeFi space and decentralized exchanges. One of the biggest decentralized exchanges is Uniswap, and its token UNI was recently listed on Coinbase Pro and Binance. The majority of the people have received free UNI tokens as they were airdropped. However, the massive hype surrounding Defi also caused several projects to drop massively in the previous weeks.  A few of those dropdowns are Sushiswap (SUSHI) and Curve DAO Token (CRV). These two coins have lost…

Traders Counting on BTC Sky-Rocketing, Today Bitcoin Price Below $11K

Today, on September 17th, the BTC rate pushed off an important resistance level – $11,000. Currently, it rests at $10,842. By Dmitriy Gurkovskiy, Chief Analyst at RoboForex. Tech analysis of BTC/USD: Bitcoin price is down today. Traders promise that the BTC renews the highs until the end of the year. The uncertainty pushed traders to buy the BTC. On W, the Bitcoin is finishing the correction of ascending dynamics. The quotations are forming a bounce off 61.8% Fibo, which will signal further growth. The aim here is at 100.0% Fibo. The…

The History, Present, and Future of Bitcoin’s Price

Bitcoin has a history with its pricing and market valuation. There was a time when it needed 10000 bitcoins to buy a pizza back then in 2009. Since then bitcoin has come a long way with its capped market pricing. Bitcoin now becomes a $200 billion market with a value of $11000 per bitcoin. It reached $1100 just a year after its first halving. The second halving took place in July 2016 where 1 bitcoin was worth $660. After six months, the price exceeded $1000 then after four months it…

‘Price of Tomorrow’ author says Bitcoin is a ‘lifeboat’ amid financial turmoil

Renowned entrepreneur and author, Jeff Booth, has endorsed Bitcoin as a ‘“must have” investment in times when central banks are exacerbating the escalating debt problem. The comments came in a tweet thread discussing the notion that central banks believe they can somehow escape a massive debt problem by exponentially adding more debt. 6) In my humble opinion – Bitcoin is a “must” Not just for your wealth but as a lifeboat. Please do your own research. Follow @PrestonPysh @johnkvallis @RaoulGMI @APompliano @Breedlove22 @princey1976 @PeterMcCormack @MartyBent @LynAldenContact — Jeff Booth (@JeffBooth)…

Bitcoin Price Holds Strong Above $10,800: A Firm Case for Upside

Bitcoin price climbed further higher above the $11,000 resistance against the US Dollar. BTC is currently correcting gains, but dips are likely to remain supported near $10,800. Bitcoin extended its upward move above the $10,900 and $11,000 resistance levels. The price is now forming a strong support above $10,800 and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $10,840 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to resume its upside as long…

Bitcoin sentiment at record lows … Does it mean the price will go up?

A number of metrics indicate that social and trading sentiment for Bitcoin is still low despite its price breaking above $11,000 a couple of hours ago. On-chain analytics provider, Santiment has revealed that weighted social sentiment for Bitcoin is at its lowest level for two years. The metric takes into account the overall volume of Bitcoin mentions on Twitter and compares the ratio of positive vs. negative commentary on the platform. Social sentiment surged a few months ago when Bitcoin started its strong recovery following the mid-March pandemic induced market…

Bitcoin Price Revisiting $11,000 Could Confirm Short-Term Bearish Reversal Pattern

Bitcoin price today blasted above $11,000, reviving bullish sentiment across the crypto market. Behind the buzz, is the fact that the leading crypto asset successfully confirmed a bullish retest of $10,000 as resistance turned support. But at the same time, the future of finance may have also completed a bearish retest and throwback to confirm a bearish reversal pattern. Both directions can’t be right, so which is it? You be the judge. Bitcoin Price Performance: A Head And Shoulders Above The Rest Throughout most of 2020, Bitcoin and altcoins have…

Price analysis 9/16: BTC, ETH, XRP, DOT, BCH, BNB, LINK, CRO, LTC, BSV

Bitcoin and a few altcoins have broken above key resistance levels, which suggests that the bulls are attempting to take control of the market. This week MicroStrategy, a Nasdaq-listed company, announced that it had added 16,796 Bitcoin (BTC) to its existing holding of 21,454 Bitcoin. This means in less than a year the firm has amassed 38,250 Bitcoin. This is a defining moment as MicroStrategy becomes the first public company to adopt a Bitcoin standard.  Other large companies may follow in MicroStrategy’s footsteps but they are likely to purchase at…