Bitcoin clings to $42K as key moving average break from July reappears
There are some strong similarities to summer 2021 for Bitcoin currently, while the outlook for Ethereum is bleak, one trader suggests. Bitcoin (BTC) consolidated above $42,000 prior to Wall Street's opening bell on Jan. 7 as more similarities to last year's lows emerged.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBTC "very closely" mimicking May behaviorData from Cointelegraph Markets Pro and TradingView tracked a nervous Bitcoin market as BTC/USD avoided another retest of $40,000 support.Earlier, after briefly falling below $41,000, analysts had warned that a further....
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Ethereum price started a increase from the $1,550 zone. ETH is now rising and might attempt to recover above the $1,650 resistance. Ethereum started a fresh increase above the $1,580 and $1,600 levels. The price is trading above $1,600 and the 100-hourly Simple Moving Average. There was a break above a connecting bearish trend line with resistance at $1,590 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh increase if it clears the $1,650 resistance zone. Ethereum Price Eyes Upside Break Ethereum price remained stable above the $1,500 level and started a....
The bearish crossover between Bitcoin's 20-day and 200-day exponential moving averages hints at a drop toward the $40,000-$42,000 area. A technical sell signal is about to appear on the Bitcoin (BTC) daily chart.On Dec. 18, the BTC price will experience a death cross, a market indicator that occurs when a short-term moving average slips below a long-term moving average. In this case, Bitcoin's 20-day exponential moving average (20-day EMA) will close below its 200-day exponential moving average (200-day EMA).The indicator may end up alerting traders and investors about a potential selloff....
Ethereum recovered above $3,400 and $3,500 against the US Dollar. ETH price is struggling near $3,600 and it might start a fresh decline. Ethereum recovered losses after a sharp decline to $2,900. The price is still trading well below $3,600 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $3,500 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh decline unless there is a clear break above $3,600. Ethereum Price is Facing Resistance Ethereum declined heavily below $3,500 and $3,200. ETH even....
Dogecoin Price Key Highlights. Dogecoin price continued to trade in a range, and the trading range is narrowing as highlighted in yesterday's post. The highlighted bearish trend line formed on the hourly chart continued to move lower, increasing the chance of a break. 100 hourly simple moving average is acting as a resistance below the bearish trend line. Dogecoin price is likely heading towards a break, but we need to see how it goes moving ahead. Which way? The Dogecoin price continued to trade in a narrow range, but the fact remains is that the price might be heading towards a break.....
The 200-week moving average keeps bulls in check, and traders are keeping quiet on the chances of a breakthrough so early. Bitcoin (BTC) hovered at $22,000 at the July 18 Wall Street open as analysts warned that bulls would not break resistance in one go.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewCan Bitcoin win back bear market support?Data from Cointelegraph Markets Pro and TradingView showed BTC/USD returning to consolidate after hitting highs of $22,500 on Bitstamp.That level represented the start of sell-side positions on exchanges clustered around the 200-week moving....