Bitcoin “Looks Good” For a Pullback as Price Fails to Pass Key Level
Bitcoin has surged $1,000 from last week’s lows of $10,400. At $11,400, the cryptocurrency remains decisively higher than it was before this rally. Even still, analysts think that Bitcoin is primed to undergo a reversal as its short-term to medium-term chart flashes a number of warning signs. Bitcoin Could Face a Short-Term Pullback as Price Fails to Pass Breaker One crypto-asset analyst recently shared this chart below. It shows that BTC’s recent rally ended right […]
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Ethereum has actually seen quite a tepid bout of price action despite Bitcoin pressing to new year-to-date highs. While the coin is up 1.3% in the past day, it is still a handful of percent below local highs. Analysts are fearful that Ethereum could face a stronger pullback in the days ahead as it fails to pass key resistances. One trader suggested that the coin could drop to $380-390 as it failed to pass the […]
During the ongoing market uptrend, Bitcoin continues to lead the bullish wave as the leading crypto asset records significant gains, pushing it to price levels above $95,000. While BTC’s price may have seen notable positive movements above $95,000, this key level now stands between an impending decline. A Pullback Incoming For Bitcoin? As Bitcoin charges […]
Bitcoin price might be in for a quick pullback to the broken triangle support before carrying on with its drop. Bitcoin price has formed a small double bottom pattern, indicating that a quick rally could take place. This could stall around the broken triangle support near the $430 level and the 61.8% Fibonacci retracement level. A shallow pullback could last until the 50% level or the $428 mark, which is also near the dynamic resistance at the moving averages. For now, the 100 SMA is above the 200 SMA but a downward crossover could confirm that the selloff is about to resume. An even....
Bitcoin’s recent price action has shown signs of fading momentum three weeks after reaching a new all-time high of $111,814. The leading cryptocurrency climbed back above $110,000 on Monday off the back of cooling U.S. inflation data and a temporarily weaker dollar. However, the rally was short-lived. Profit-taking, compounded by geopolitical tensions between Israel and Iran, has contributed to a risk-off environment that pushed Bitcoin down below $105,000 in the past 24 hours. This sharp reversal highlights a significant technical level that could decide whether Bitcoin sustains....
Bitcoin has entered no man’s land as it fails to pass $11,000 but is holding the low-$10,000s. The coin now trades at $10,900 as of this article’s writing, again below the aoforementioned support. Bitcoin actually may be in a positive spot, though, as it managed to hold a pivotal technical level of macro importance. Bitcoin Holds Pivotal Macro Support Level To some market participants, Bitcoin’s price action over recent weeks has been purely bearish. After […]