Bitcoin Price Crash To $94,000 Imminent As Fibonacci Resistance Is At Stake
Bitcoin’s recent price action has shown signs of fading momentum three weeks after reaching a new all-time high of $111,814. The leading cryptocurrency climbed back above $110,000 on Monday off the back of cooling U.S. inflation data and a temporarily weaker dollar. However, the rally was short-lived. Profit-taking, compounded by geopolitical tensions between Israel and Iran, has contributed to a risk-off environment that pushed Bitcoin down below $105,000 in the past 24 hours. This sharp reversal highlights a significant technical level that could decide whether Bitcoin sustains....
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Crypto analyst X Force has drawn the crypto community’s attention to a key fractal from 2023, which paints a bullish picture for the Bitcoin price. However, the analyst suggested that a drop to $90,000 could still be on the cards for BTC, although that won’t invalidate the macro setup. Key Fractal Shows Bitcoin Price Is Still Bullish In an X post, X Force highlighted a key fractal from the early phase of the 2023 bull market and noted why it supports the view that the current trend remains bullish. He remarked that the price structure that was observed back then could offer insights....
Bitcoin has been in a notable state of flux recently after recovering from the crash below $60,000 and establishing support above $61,000. However, with the pioneer cryptocurrency failing to completely beat important resistance points such as $63,500, bearish sentiment continues to dominate the market. Amid this, one crypto analyst has predicted that the Bitcoin crash is far from over, forecasting much lower figures than anticipated. Crypto Analyst Calls Out Possible Bitcoin Crash To $35,000 In a new analysis of the Bitcoin price, crypto analyst Alan Santana has predicted a possible price....
Bitcoin price continued rising as the market's buying volume is increasing constantly. A high of around $280 was printed earlier today and if the current bullish momentum continues and bitcoin price exceeds $284, it will face no considerable resistance on its way up to $320. By studying the 4 hour Bitfinex (BTC/USD) charts from tradingview.com, keeping the same Fibonacci retracement fan we created during yesterday's analysis and plotting the William's Alligator indicator accordingly (look at the below chart), we can notice the following: Bitcoin price is continuing to record higher highs....
Bitcoin price broke above its 2019 high, and after that, took off another $5,000. The reason why the level was so critical to confirming a reversal back into a bull market, was due to the resistance residing at the golden ratio – based on the Fibonacci sequence. Today, to celebrate both Fibonacci Day and Bitcoin’s […]
The price of Bitcoin started moving sideways today, after yesterday's rise, but the buying trading volume is keeping the price well above the $200 resistance point throughout the day. By drawing the Fibonacci retracement fan along a trend line that extends from the high recorded in November 2013 and the low recorded earlier this month (look at the below chart), we can easily identify resistance and support points at this stage. By observing the 1 hour (BTC/USD) chart from Bitfinex on tradingview.com and extending the Fibonacci fans from the 1 daily chart (look at the below chart), we can....