As Bitcoin price sees sub-$30K, do bears control the BTC market now?
The price of Bitcoin dropped below $30,000 in a quick swoop on the third retest in two weeks of the support area. In the past 48 hours, Bitcoin has tested the $30,500 support level on two occasions. Historically, when a major support area is tested repeatedly, it often breaks. On the third retest on Jan. 27, Bitcoin broke below $30,000. However, $30,000 is a highly important support level for BTC, and hence, whales might try to buy the level to prevent a further breakdown after reclaiming it.Whale clusters suggest three key levels in the near term: $34,970, $29,314 and $28,727. Currently,....
Related News
Litecoin has been bearish since finding resistance in March at 2.14. The 4H chart shows a market that made a price top around 2.00 when it fell below support at 1.97. Since the slide, the market has reached a low around 1.60. ltcusd has broken below the 200-, 100-, and 50-period simple moving averages (SMAs) in the 4H chart. Also, the moving averages have shifted from sloping up with bullish alignment to sloping down with bearish alignment. (Bearish alignment = 200- above 100- above 50-period SMAs). Litecoin (LTCUSD) 4H Chart 31/3. As we begin the week, it looks like the bears in March are....
With XRP staring down the barrel of bears, there are now a number of levels that are important to watch as the month progresses. Crypto analyst EGRAG CRYPTO has outlined these important targets for investors to pay attention to, as they could be the make-or-break points for XRP. What To Watch Out For With XRP At the start of the analysis, the crypto analyst first implores investors to make sure that they adjust their perspective as things change. This is to ensure that they do not lose sight of the macro picture and are able to keep up with the market trends. That said, there are different....
Bitcoin’s price action has been quite mixed as of late, with buyers and sellers both vying for control over the cryptocurrency’s trend Over a mid-term time frame, bulls are clearly in control and are showing no signs of letting up to bears anytime soon Where the market trends in the mid-term will likely depend on […]
Debate surrounding if the Bitcoin bull market is over due to the recent correction is at a full boil, while many are already searching for a bottom of the current downtrend. Bulls must be careful not to jump the gun due to buying the dip working so well over the last several months. Because bears […]
Ethereum price attempted a minor bounce against the US Dollar, but failed. It looks like the ETH/USD may continue to remain in control today. Key Highlights. ETH price struggle to move higher against the US Dollar continued, as it found resistance near $10.75 yesterday. Yesterday’s highlighted trend lines on the hourly chart (data feed via SimpleFX) of ETH/USD are still intact and preventing an upside move. It looks like the price may decline further towards the $10.40 level. Ethereum Price Downsides. ETH price remained under a lot of bearish pressure yesterday against the US Dollar. There....