$30,000 Bitcoin Price Breached As Sell Off Continues
The sell-off in the bitcoin market continued as the $30,000 bitcoin price level was briefly breached yesterday.The below is an excerpt from a recent edition of the Deep Dive, Bitcoin Magazine's premium markets newsletter. To be among the first to receive these insights and other on-chain bitcoin market analysis straight to your inbox, subscribe now.The sell-off in the bitcoin market continued as the $30,000 level was briefly breached yesterday. The ugly price action has many market participants worried that the bull market has concluded, and it is very possible that for the time being....
Related News
Pursuant to my earlier Bitcoin analysis titled Teetering Bulls, the digital currency continues to slog as US Dollar Index crosses 100, its highest level since 2003. With more gains seen for the Dollar Index in the coming sessions, things may turn extremely difficult for the Bitcoin bulls. Each Bitcoin is currently worth $290. As can be clearly seen from the 240-minute BTC/USD price chart above, the bullish momentum suffered a huge dent as it broke below the long-held, upward-sloping support. However, the bearish plunge lacked sufficient pressure to pierce the Support Line 1, from which the....
Litecoin is currently stabilizing above the crucial support of $4.100, a day after witnessing a terrifying cut of more than 50 percent from its peak value of $8.650. Litecoin is trading down 5.60 percent at $4.550. I had earlier mentioned that more pain will come to the buyers if the previous consolidation level of $4.100 is breached. Updating my view, I think that it will be breached! Taking a technical look at the Daily LTC-USD price chart, it seems that that the market has been shaken to the core. But it's very understandable considering the magnitude of the crash that rocked the....
Bulls have faltered in their upward march and given to the bears an opportunity to gain control. As a result, technically important support levels have been breached which could lead to more losses in the value of Litecoin. In my previous analysis, From Resistance to Support!, I did mention that all the long positions must be built with strict stop-losses. Since the supports have been breached, a lot of long positions may have been squared. Litecoin is down 1.66% to $1.771 since yesterday. Technical analysis of the 240-minute LTC/USD price chart reveals that market participants should look....
Dash Price Key Highlights. Dash price after setting a low around 0.0111BTC, consolidated for some time and then moved sharply higher. A critical bearish trend line formed on the hourly chart was breached during the upside move. If the price moves lower from the current levels, then it might find buyers around 0.0116BTC. Dash price finally spiked higher, and even managed to close above an important resistance area to signal more gains. 0.0116BTC as a Support. This past week, we highlighted a bearish trend line on the hourly chart, and the price trading below the 100 hourly simple moving....
The profit booking which began since Bitcoin hit a high of $278 continues. Bitcoin price has dropped 2.37% since yesterday to be trading at $264.55. With this decline, the cryptocurrency also breached a near-term support of $267 and I believe the next downside target is $260. The 240-minute BTC-USD price chart above indicates that Bitcoin may face more pressure as technical indicators as well as the chart structure have turned bearish. Bitcoin Chart Structure - A simple glance at the above chart would reveal a Head and Shoulders pattern - a bearish pattern which indicates a trend reversal.....