Is Bitcoin at risk of another drop below $40K in a historically corrective Ma...
Bitcoin is showing signs of weakness as February draws to a close. Bitcoin (BTC) has seen a corrective week as the price dropped from $58,000 to $44,000 in a matter of days. This dropdown caused a panic reaction across the markets as the euphoria was immediately halted.For instance, the Crypto Fear and Greed Index plunged to monthly lows of 56 after being above 90, or "extreme greed" for an entire month. Crypto Fear & Greed Index. Source: Alternative.meHowever, such a panic reaction is unwarranted because corrections appear frequently in a bull market as a "reset" before continuation. This....
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Crypto analyst Alessio Rastani has warned that XRP is in “trouble” following his recent analysis of the chart. He outlined certain “strong warnings” on the chart, which showed that the crypto token could experience further price declines. Why XRP Is In Trouble Rastani mentioned in a video on his YouTube channel that XRP could drop to $0.13 or even lower as part of Wave C of his analysis using the Elliot Wave Theory. He noted that a drop to that price level represents about a 100% decline for XRP from Wave B and a similar corrective move to Wave A that occurred in 2020. Related Reading:....
Bitcoin price has advanced above the Fib line that has served as the pivot for consolidation during the past week. During the Asian session, price tagged the 4-hour 200-period moving average and looks set to continue the journey north after a corrective price wave has completed. This analysis is provided by xbt.social with a 3 hour delay. Read the full analysis here. Not a member? Join now and receive a $29 discount using the code CCN29. Bitcoin Price Analysis. Time of analysis: 12h46 UTC. OKcoin 4-Hour Chart. Also Read: Why The Preference For BTC-China Charts In Analysis? From the....
Bitcoin price fell away from yesterday’s strained highs, but a price correction introduces some uncertainty about what’s next. Previous price patterns suggest the decline will continue, but simple technical analysis helps us plan contingency, and identify the confirmation of decline. xbt.social subscribers opened a short position after a combination sell signal fired in both the 1-hour and 15-min charts, earlier today. It is not unusual for the market to test the 1hr 20MA after an initial wave of decline. Magenta arrows in the 1hr OKCoin futures chart, illustrates this corrective pattern.....
The bitcoin price has historically been volatile and managing investment risk is the key to avoiding another major market sell off.
Bitcoin (BTC) is attempting to reclaim a crucial level as support after bouncing from the recent drop below $115,000. Nonetheless, some analysts warned that the cryptocurrency is entering a corrective phase with a potential 15%-25% drop. Related Reading: Analyst Predicts ‘Utility Run’ Will Send XRP Price To $100 Bitcoin Risks Drop Below $110,000 On Monday, Bitcoin fell below the $115,000 level for the first time in nearly two weeks, retesting the $114,500 support before bouncing. The flagship crypto has been hovering between its local price range since August 7, hitting its latest all-time....