Bitcoin Begins to Correct Below $17,000: Where Traders Say BTC is Heading
The price of Bitcoin has begun its correction below $17,000, resuming the bearish downtrend from yesterday. Traders have mixed reactions to the weakening short-term momentum of BTC. Some traders think that BTC could drop to $16,000 or possibly to $13,800. The probability for a drop to the $13,000 region remains low, but that level is […]
Related News
COTI’s new Crypto Volatility Index allows traders to profit from highly-volatile cryptocurrency markets. COTI, a blockchain-powered fintech startup, has launched a new cryptocurrency index enabling traders to profit from the market volatility.The new Crypto Volatility Index, or CVI, brings the traditional “market fear index” to the crypto market, allowing users to deposit and open positions with Tether (UDST).Gibraltar-based COTI explained that the new index allows traders to open CVI positions for high and low volatility. “Users who expect volatility to increase can open a CVI position.....
Ethereum price started recovering Intraday against the US Dollar, but it looks like the upside may stall as there is a major resistance around $13.50. Key Highlights. Ethereum price after moving below the $12.00 support area against the US Dollar started recovering. However, the ETH/USD pair is heading towards a major resistance area around the $13.50 level. This week’s highlighted bearish trend line on the hourly chart (data feed via Kraken) of ETH/USD is still intact and may act as a barrier for the buyers. Ethereum Price Resistance. Ethereum price ETH after falling close to the $11.30....
The epic struggle between bulls and bears continues, with neither side willing to accept defeat. After a smaller than expected fall a couple days ago, the coins have rallied back to the 78.6% retracement level and have held their ground at that level for the past day or so. As you can see in the image below, price continues to be supported by a trendline from the October low. The line has been tested and held for seven tests so far. Meanwhile, it appears a pennant is forming which I presume most traders can readily see. I have labelled the pennant as I see it. If I am correct, the final....
Any attempts from Bitcoin to secure higher price levels may fall short as long as its correlation with the US stocks sustains. So predicts Ronnie Moas, a stock market analyst heading Florida-based research firm Standpoint Research. He said in an early Thursday tweet that Bitcoin might fall by another $400 (or more) in the coming sessions. The expected downside move should come if the Wall Street indexes correct lower by 10-20 percent. “Bitcoin has been […]
Bitcoin price is facing a strong resistance near the $27,300 area against the US Dollar. BTC could correct lower towards $26,000 or $25,500 in the near term. Bitcoin seems to be struggling to gain bullish momentum above the $27,300 barrier. The price is currently trading above the $26,500 support and the 100 hourly simple moving […]