Bitcoin Price Recovery at Risk, Sellers Prepare to Reassert Control
Bitcoin price started a recovery wave above $67,500. BTC is now consolidating below $68,800 and might struggle to continue higher. Bitcoin started a recovery wave above $67,000 and $67,200. The price is trading above $67,000 and the 100 hourly simple moving average. There is a rising channel forming with resistance at $68,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start another decline if it stays below the $68,500 and $68,800 levels. Bitcoin Price Eyes Recovery Bitcoin price formed a base above $65,500 and started a recovery wave. BTC was able to....
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Ethereum Price Key Highlights. Ethereum price moved down further and traded below the last week's low to set a new low of 0.00251BTC. There is a bearish trend line formed on the hourly chart, acting as a hurdle for buyers in the short term. There is a risk of more losses, as sellers look in control of the situation. Ethereum price continued to weaken as the price fell to a new low of 0.00251BTC where buyers appeared. Can Sellers Remain in Control? There was a lot bearish pressure noted on the Ethereum price recently, which took the price towards 0.00250BTC. There were a couple of nasty....
Key Highlights. Dogecoin price continued to struggle to trade higher and it looks like it might decline further in the near term. 100 hourly simple moving average is a major hurdle for buyers for more gains. A break below 62.0 Satoshis could set the price for a move towards the last swing low of 58.9 Satoshis. Dogecoin price failing to trade higher is a worrying sign, and might encourage sellers to take it lower moving ahead. Sellers to take control. We highlighted yesterday that the Dogecoin price is struggling to move higher which increases the chances of it trading lower. There were....
Litecoin price failed to trade higher, as the 100 hourly simple moving average stalled gains. More losses are likely as sellers remain in control. Intraday Support Level via Bitfinex looks like at $2.90. Intraday Resistance Level can be at $3.03. We were looking for a buy opportunity yesterday if buyers manage to clear an important resistance area near $3.10. However, there was no upside reaction, and as soon as the price started trading lower, sellers again managed to take control. There was a contracting triangle formed on the 30-min chart with the data feed from HitBTC, which was....
Potcoin Price Key Highlights. Potcoin price declined further and broke the last low of 0.00000259BTC to create a new low. The price traded as low as 0.00000249BTC where sellers were seen struggling to gain pace. There is a possibility of a recovery in the near term, which means we might get one more opportunity to sell. Potcoin price moved lower and reached out final sell target of a new low below 0.00000250BTC and looks set for more losses. New Low? We were anticipating a new low in the Potcoin price below the last swing low of 0.00000259BTC. There was a decline noted, as the price traded....
After hitting a new all-time high, the bitcoin price has since retraced towards its pre-pump levels from last week, completely erasing its rapid gains. As a result, the bears seem to be reclaiming control once again, with sellers dominating the market. While expectations for another sharp recovery abound, crypto analyst Melikatrader has outlined two possible scenarios for the pioneer cryptocurrency, with both ending in bearish reversals toward established local peaks. Lower Trendline Break Points To Bearish Developments The analysis highlights the two possible directions that the Bitcoin....