Bitcoin Recovery Falters — Weak Volume Signals Possible Exhaustion of Buyers
Bitcoin price failed to recover above $107,000. BTC is trimming gains and might could continue to move down if it trades below $102,500. Bitcoin started a fresh decline after it failed to clear $107,000. The price is trading below $105,500 and the 100 hourly Simple moving average. There was a break below a bullish trend line with support at $104,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might continue to move down if it settles below the $102,500 zone. Bitcoin Price Trims Gains Bitcoin price started a recovery wave above $105,000. BTC recovered above the....
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Bitcoin (BTC) is experiencing a notable price recovery, reclaiming the $85,000 level after a 4.3% increase in the past 24 hours. This rebound has sparked renewed optimism among investors, who are now looking for signs of further momentum in the market. However, while Bitcoin is showing signs of a potential uptrend, on-chain data suggests that market demand remains weak, which could impact the sustainability of this rally. Related Reading: Bitcoin & Altcoin Volume Fades—Investor Exhaustion Setting In? Bitcoin Demand Drops Despite Price Recovery Recent on-chain analysis by CryptoQuant....
Bitcoin price found support at the bottom of its ascending channel visible on the 4-hour time frame, but buying pressure seems weak. Bitcoin Price Technical Analysis. Bitcoin price halted its sharp drop yesterday, bouncing off the ascending channel support illustrated in the previous post. Buyers seem to be getting back in the game at that point, possibly yielding another climb back to the resistance at $780. Technical indicators are giving mixed signals for now so a breakdown might still be possible. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of....
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