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Ollie Leech



Articles by Ollie Leech

Bitcoin Sets New 2020 High: What Are The Next Targets? BTC Analysis & Overview

21 hours ago

Bitcoin bulls are staging a new breakout attempt right now as prices surge above the 0.618 Fibonacci level around $13,360 for the second time in 48 hours. The price wicked to $13,500, setting a fresh high for 2020.
This is a critically important time for Bitcoin, as a second failure to overcome this level could form a bearish double top and cause prices to plummet.
Looking at the global crypto market capital, we can see that volumes are now back to Sunday levels at $397 billion after yesterday’s $12 billion decline. However, we would like to see a higher high preferably above $400 billion to confirm a new bullish phase has started.
Price Levels to Watch in the Short-term
On the 1-hour BTC/USD chart, we can see that the price action is tracking inside of a bullish flag

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BTC Price Analysis: Bitcoin Weakens As Wall Street In Deep Red, Is $14K Target Intact?

2 days ago

Bitcoin’s price remains stuck under the key 0.618 Fibonacci level at $13,360 going into this week after little bullish momentum arrived during the opening of the US traditional markets. Wall Street, meanwhile, is painted in red.
Over shorter timeframes, it’s clear that the general sentiment is still bullish as the leading asset continues to print higher lows. However, trading volumes are beginning to decline, and there’s a growing divergence between the RSI and price action, which suggests things may turn bearish soon.
Since the Paypal news broke on October 21, over $33 billion has flooded back into the crypto space and helped the leading asset’s market dominance break back over 61% for the first time since August 2, 2020.
Price Levels to Watch in the Short-term
On the

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BTC Price Analysis: After Breaking 2020 High, Is Bitcoin Eyeing $14K?

6 days ago

Bitcoin price has managed to avoid all 3 unfilled CME gaps this week and go on to break the $13,235 level for the first time since July 10, 2019 – 469 days ago.
The catalyst for the 11% surge was the breaking news from PayPal yesterday that the payments giant will soon facilitate BTC and other crypto-asset payments.
According to data from Datamish, the Paypal rally caused a $70.8M short squeeze on BitMEX as an eye-popping $31 billion returned to the crypto market during yesterday’s frenzy. This will have undoubtedly helped catapult prices beyond the milestone $12K and $13K levels as short traders buy back into BTC to cover losses.
Price Levels to Watch in the Short-Term
On the weekly BTC/USD chart, we can see that prices fell just shy of the 0.618 Fibonacci resistance at

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Bitcoin Price Analysis: These Are The Next Possible Targets Beyond $12,000

8 days ago

Bitcoin price is recovering with yesterday’s surging breakout to $11.8K. The arrival of the new bullish momentum coincided with the US trading markets opening for the week and caused $6 billion to flood back into the crypto space within a few hours.
This sharp rise in trading volume has created a third gap on the CME bitcoin futures chart (GAP 3) between $11,490 and $11,405, which will undoubtedly be adding pressure on top of the current uptrend. Not far beneath it is the second unfilled gap (GAP 2) between $11,360 and $11,175, which could also be filled if bears take control over the bitcoin market.
BTC Price Levels to Watch in the Short-term
On the 4-hour BTC/USD chart, we can see that the key resistance to break above right now is the $11,800 level. This price point has

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Is Bitcoin Price Heading to Fill CME Gap at $11,100? BTC Analysis & Overview

12 days ago

Bitcoin has failed to hold above $11,500 for the second time this week as bears continue to drive prices back down towards the unfilled CME gap at $11,100 (GAP 2).
CME bitcoin futures gaps appear because traditional markets close before the weekend and reopen the following Monday, while BTC continues to be traded 24/7. This means that if the leading crypto experiences high volatility over the weekend and the price changes dramatically when the traditional markets reopen, then a gap will appear in the chart.
These gaps are important because they act like magnets on the price action and are almost always filled. This week when the traditional markets reopened, a gap appeared between $11,110 and $11,360. This is the second unfilled gap to appear on the CME bitcoin futures

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Bitcoin Price Analysis: BTC Breaks Vital Short-term Support, $11K Incoming?

13 days ago

Despite a promising start to the week, the bullish Bitcoin traders have struggled to maintain momentum. In the last few hours, bears have successfully overcome the intra-week support (white line), which was helping to keep BTC in an uptrend, and are now threatening to drive prices back towards the 0.5 Fibonacci level at $11,150.
Looking at the 4-hour chart, we can see that the decline was foreshadowed by a significant divergence between the RSI and the price action (yellow lines), which shows the uptrend was weak and likely to flip bearish.
On the global crypto market capital chart by Coinmarketcap, we can also see that the amount of money flowing into the industry has started to dwindle, which typically forecasts more downside to come.
Global crypto market capital chart

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Bitcoin Price Analysis: Is $12K Next As BTC Records 5-Week High?

16 days ago

Bitcoin price is soaring right now as the US legacy market opens up to begin the new week.
Just hours ago, the leading cryptocurrency had completed a bearish Bart Simpson pattern after crashing down to $11,175 following an extended period of sideways chop. It was looking as though the asset was about to head down to the 0.5 Fibonacci level at $11,150, but new bullish momentum from the American trading session has helped drive BTC back above $11,500. With this, Bitcoin charted a new 5-week high.
$10 billion has returned to the market in the last 2 hours along with $300 million in long interest at the $11,500 mark – according to data by Coinmarketcap and Datamish, respectively.
Price Levels to Watch in the Short-term
On the daily BTC/USD chart, we can see that the price is

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Bitcoin Price Breaks To New 17-Day High: $11K Incoming? (BTC Analysis)

20 days ago

Bitcoin’s price has managed to climb $300 today and break bullish out of a 19-day consolidation pattern (white dashed lines). This is pretty surprising considering the recent Kucoin hack, BitMEX investigation from the CFTC, and the potential for a second wave of lockdowns worldwide.
In just 6 hours, $12 billion flooded back into the crypto markets, shortly after Jack Dorsey’s Square announced it had purchased 4.709 BTC (approx $50 million).
This catapulted the leading cryptocurrency through the strong resistance at $10,800 that has been holding down the asset since the start of the month and all the way up to the 0.5 Fibonacci level at $10,960, before correcting.
BTC Price Levels to Watch in the Short-term
Right now, bullish traders appear to be recharging around the

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Bitcoin Price Analysis: BTC To Reclaim $10.7K as Whale Shakeout Pattern Completes?

21 days ago

Bitcoin price appears to be tracking in another classic whale manipulation pattern right now, after yesterday’s sharp $200 crash during the US trading session.
The details of this pattern have already been covered extensively in a previous analysis, but for those of you not familiar, it essentially represents a strategy employed by large BTC traders (whales) to create panic in the market and force weaker hands to sell. The induced rise in selling pressure creates more liquidity on the sell-side and allows large traders to buy back into Bitcoin at a cheaper price with less price slippage.
If this current movement does turn out to be one of these patterns, we should expect to see BTC prices return back above $10,740 quickly (see the first chart).
Price Levels to Watch in the

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Bitcoin Price Analysis: BTC Heads Lower on BitMEX News. Will $10K Hold?

26 days ago

Bitcoin’s price continues to tumble in response to yesterday’s breaking news that the United States Commodity and Futures Commission (CTFC) and the Federal Bureau of Investigation (FBI) have both decided to take legal action against leading Bitcoin derivatives exchange, BitMEX.
$18 billion has been wiped out from the global crypto market since the announcement, and over $20.3 million worth of long positions have been liquidated on BitMEX.
There’s also talks that the market decline could have been inadvertently fuelled by US President Donald Trump testing positive for COVID-19.
Overall, however, Bitcoin has fared reasonably well all things considered. Despite a flurry of bearish catalysts, the leading crypto is only down 4.23% at press time and is still continuing its

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Bitcoin Price Falls Back Under Major Resistance, Here’s What to Expect Next (BTC Analysis)

September 22, 2020

Bitcoin has returned into its former range between the 0.236 Fibonacci level at $10,446 and $10,000 after prices crashed a further 3% yesterday, around 15:00 (UTC+1).
This was the level that took over nine days to successfully clear earlier in the month and could keep prices suppressed again if volume remains low. On the 4-hour timeframe, we can also see long wicks above the last four candles, which suggest bears are defending this strong resistance level vehemently.
The unfilled CME gap below is now looking like a possible threat once again if BTC bulls fail to recover from this period of consolidation.
Price Levels to Watch in the Short-term
Right now, all eyes are on BTC closing above the 0.236 Fibonacci level on the 4-hour chart at $10,446 and breaking out of the range

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Bitcoin Price Analysis: Another Whale Trap Or BTC’s Dump To $10K Very Soon?

September 21, 2020

Bitcoin’s price is back in decline as $12 billion suddenly evaporated off the crypto market cap. This includes approximately $10 million worth of BitMEX BTC longs, which have already been liquidated due to the sudden breakdown.
In the last 4 hours, BTC has tanked over 3% from $10,900 to a low of $10,560 and broken through both the 50 and 200-day EMA lines. The rest of the altcoin market is also experiencing heavy losses as traders withdraw into Stablecoins and other safer assets.
This is now the fourth significant flash crash to have taken place on the 4-hour BTC/USD chart since the start of September.
In our most recent BTC price analysis, we had spotted this weakness, despite that Bitcoin was still around the $11,000 price area.

Not surprisingly, this comes as the

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Bitcoin Price Breaks Out of Range as Bulls Push For $11K

September 14, 2020

Bitcoin’s price has finally broken above the $10,580 range high and is now surging towards the psychological $11,000 mark.The increase appears to have been caused by an influx of $12 billion flooding into the crypto market during the US trading session. This uptick in investment has helped lift the entire market back into the green and drive BTC prices above the 4-hour 50 and 200 EMA lines.While this seems pretty positive right now, we could see a temporary correction soon if BTC breaks into the overbought region on the 4H RSI, and it’s unclear at this point if this pump is a genuine uptrend or the start of yet another whale shakeout.Price Levels to Watch in the Short-termNow that the 200 EMA line (red) has been established as support (approx $10,650), bullish traders are in an excellent

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Sub $10K Incoming? Bitcoin Price Forms Bearish Double-Top After Second Rejection at $10,580

September 13, 2020

As of writing these lines, Bitcoin’s price has fallen back down to the $10,300 level in the last few hours, after bears overpowered a second breakout attempt from the current range.Looking at the candles more closely over the 1-hour time frame, it seems like this latest move was orchestrated by whale traders to trick smaller traders into thinking BTC was finally breaking out of its range (above $10,500) before dumping on them.Prices surged over $120 in a few minutes, followed by a period of sideways consolidation, and then a bearish correction that drove BTC straight back to where it started from.Now, we have two clear fakeouts (marked by yellow circles below) from the current range between $10,470 and $9,950, both of which peaked around the $10,580 level.Price Levels to Watch in the

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Bitcoin Continues to Chop Inside Tight Range, Can it Hold Above $10,000? (BTC Price Analysis)

September 10, 2020

Bitcoin’s price is still whipsawing between $10,420 and $9950, as of today, despite $11 billion which were flooding back into the global crypto market over the last 48 hours.It appears a vast majority of this new investment is pouring into Ethereum, which is enjoying a 7% daily price gain right now and is the best performing crypto-asset in the top 10 cryptos by market cap.According to recent Skew market data, there’s even been a notable uptick in ETH futures trading volume compared to BTC, with ETH accounting for 46% of Huobi’s derivatives volumes compared to just 36% of BTC.This flippening is almost certainly being driven by the DeFi market, which continues to attract a huge amount of attention and investment from the crypto community.BTC Price Levels to Watch in the Short-termOn the

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Bitcoin Price Heading Lower as CME Gap At $9,600 Looking to Get Filled Soon

September 7, 2020

So much for ‘this is the last time you’ll see Bitcoin under five figures”.Bitcoin price is now hovering along the top of the unfilled CME gap at $9,925, and looking very likely that it will break down to $9,665 soon to close it off. This anticipation of more downside in the short-term has been reflected by the global crypto market capital, which has fallen by a further $15 billion in the last 24 hours.It is hoped, however, that once the gap is filled, there will be nothing holding back the #1 crypto asset from restarting its climb back towards setting a new YTD-high.Price Levels to Watch in the Short-termOn the daily BTC/USD chart, we can see that the primary support (1.318 Fibonacci extension level) at $10,180, which propped up Bitcoin over the last four days, gave way during the Asian

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BTC Price Analysis: Bitcoin’s Free Fall – Next Stop the Unfilled CME Gap At $9,600?

September 3, 2020

Bitcoin has dramatically extended its losses today, as prices slide a further $1,000 in under 24 hours. Yesterday, we observed how the leading asset was recovering along with the $11,400 and expected it would push sideways before another big move arrived.Looking at the 4-Hour chart, we can see it did exactly that. Until the early hours of today, BTC was hugging tightly along the prior support zone (green) until another huge wave of selling pressure arrived and drove prices down to $11,225 (0.618 Fibonacci extension level).During the second leg of the crash, panic selling managed to drive BTC prices through the psychological $11,000, and down as far as the $10,450 level, before correcting.According to data by Coinmarketcap, an additional $28 billion has been removed from the global crypto

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Bitcoin Recovers From $900 Crash After Another $12K Rejection (BTC Price Analysis)

September 2, 2020

Bitcoin bulls were met with another wave of intense selling pressure at the psychological $12,000 yesterday, which sent prices reeling $900 all the way back to the $11,160 level.This is the third time in under a month that BTC has experienced a strong rejection at this critical level of around $11,100.In the previous analysis from yesterday, we anticipated that Bitcoin breaking into the overbought region on the 4-Hour RSI would create some intense selling pressure against the uptrend. This was likely one of the main catalysts for initiating the trend reversal.According to Datamish, over $58.3 million worth of BitMEX longs were also liquidated during the crash. This significant squeeze will have almost certainly assisted in driving Bitcoin’s price down further once the breakdown began.So

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Bitcoin Soars Towards $12,000, But It Might Not Be That Easy: BTC Price Analysis

September 1, 2020

Investment has been pouring back into the global crypto market and Bitcoin consistently now since August 27, from a low of $348 billion to its current peak at $387 billion – according to data from Coinmarketcap.This influx of capital has helped the leading crypto’s price climb over $800 from it’s monthly low at $11,115, just four days ago, and is now driving BTC back up towards that all-important $12,000 level.Today, BTC has successfully broken out of the tight Fibonacci range it was trapped in over the last 48 hours, between the 0.382 and 0.5 levels – $11,634 and $11,794, respectively – and surged 2.3% to the next 0.618 Fibonacci resistance before correcting.Is this latest burst the start of a new bull run that will see BTC print a new YTD high, or is this just another orchestrated whale

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Bitcoin Price Analysis: BTC Sees Major Bearish Signal Flash, Will This Whale Pattern Help?

August 27, 2020

Bitcoin’s chart looks pretty interesting right now. On the 4-Hour BTC/USD, there is a clear bearish convergence forming between the 50 and 100 EMA lines for the first time since July 22.This typically signals that there’s more downside to come as short-term momentum drops in comparison to the longer-range momentum.However, looking more closely at today’s price action, there are some signs of hope that we might get a recovery shortly.Bitcoin’s current trend is resembling the start of a whale manipulation pattern that we saw at the beginning of the month (see the marked yellow circles). If this is true, it could mean that BTC price will increase soon back over $11,600, and help bulls shake off the bearish EMA convergence.Bitcoin Price Levels to Watch in the Short-termOn the daily BTC/USD

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Bitcoin Price Lost $1200 In a Week: Is The $10,500 Target Incoming?

August 25, 2020

The crypto space is experiencing another red day today as a further $13 billion disappears from the market. This exodus of investment has caused Bitcoin to unravel $300 in the last 4 hours or about $1,200 in the last week.While there are no apparent catalysts for the current decline, Federal Reserve Chairman, Jerome Powell, is scheduled to give an update on Thursday regarding new steps the United State’s central bank plans to take to keep the struggling economy afloat.With rising pessimism over an economic rebound, it’s likely that a lot of institutional investors are exiting out of financial markets until there is more certainty.Not only is the crypto market left reeling today, but the Dow Jones, S&P 500, and FTSE 100 are also all down in the last 24 hours.Price Levels to Watch in the

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Bitcoin Price Analysis: Bulls Battle Against Huge Resistance, Here’s the Key Levels to Watch

August 24, 2020

Bitcoin price is attempting to re-enter the bullish ascending triangle pattern that it exited out of last Friday, August 21, when the asset unraveled $500 in 24 hours.This previous key support, which had helped prop up Bitcoin over eight times since July 28, 2020, is now acting as a strong resistance on the 4-hour chart and is preventing bulls from surpassing the $11,800 level.Looking at the total crypto market cap, it appears that we have just set a new lower high at $369 billion, according to data on Coinmarketcap, and are now about to start the next leg down. This strongly suggests that more bearish activity is coming over the course of this week unless significant volume picks up and breaks the next critical resistance.BTC: Price Levels to Watch in the Short-termThe aforementioned

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Following Breakdown, Bitcoin Facing Huge Decision Point – $10,500 Or $12,500 Next? BTC Price Analysis

August 20, 2020

The global crypto market continues to slide today as another $11 billion pours out.This exodus of investment has now kicked Bitcoin outside of the rising channel that it’s been tracking inside of (mostly) for the past 22 days. What was acting as reliable support has now flipped into a strong resistance level and could prevent the leading cryptocurrency from retracing back to $12,000 in the short-term.Could this be the start of a bearish decline towards the unfilled CME gap down at $9,665?Price Levels to Watch in the Short-termLooking at the 4-Hour BTC/USD chart, we can see that the price action has now closed beneath the main channel resistance around the $11,745 mark, and candles are now throwing back on to it as new resistance. To prevent further decline, bullish traders will need to

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As Bitcoin Struggles At $12,000, Here Are The Next Targets On a Breakdown: BTC Price Analysis

August 18, 2020

Bitcoin’s exciting bull run might be over as quickly as it started after prices failed to close above the $12,400 daily resistance yesterday. Any hopes of a parabolic continuation will now have to be put on hold as bulls recover from the sharp decline.In the last 24 hours, the global crypto market capital has lost $13 billion from its peak at $387 billion.It’s still unclear what caused the sudden reversal. However, shortly after BTC prices catapulted to $12,400, the leading crypto broke into the overbought region on the 4-Hour RSI. This would have likely triggered a number of trading bots to sell and could’ve helped initiate the downtrend.Price Levels to Watch in the Short-termLooking at the 4-hour chart, we can see that the price action has returned underneath the median line (dashed

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Bitcoin Price Breaks $12K To New 2020 High: New Bull Run Gets Underway?

August 17, 2020

Bitcoin price had been lingering under the $11,900 mark for the past 48 hours, despite another injection of $6 billion entering the global crypto market at that period.In the last hour, however, a sudden surge in buying pressure finally arrived, which assisted in driving prices over the psychological $12,000 resistance for the first time in over a week. The bulls drove the price higher than $12,125, which was the 2020 high since the beginning of August.This key level has so far succeeded in defeating bullish BTC traders on two separate occasions in the first ten days of August. Will it be third time lucky for the primary cryptocurrency, including a daily close above $12,100?Price Levels to Watch in the Short-termRight now, BTC is attempting to close above the median line (dashed line) of

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Gold and Silver Start to Move Higher, Will Bitcoin Follow? (BTC Price Analysis)

August 13, 2020

Bitcoin price continues to remain inside the bullish ascending triangle, despite several attempts from bearish traders in the last three days to break through the pattern’s vital up-trending support.On the 4-Hour BTC/USD chart, we can see that bulls have successfully eaten up all 6 of the candles that wicked down beneath the support, but have so far been unable to break back above $11,600.Now, the price action appears to be pushing sideways while both bulls and bears recover.Looking across to other markets, we can see that Gold (XAU) and Silver (XAG) are now rebounding from the sharp sell-offs that took place on Tuesday. Silver, in particular, is almost up 5% today and looks promising to recuperate its losses soon from earlier in the week.Bitcoin prices have been closely correlated with

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Bitcoin Price Crashed $900 Since Yesterday’s High: Reversal Incoming? (BTC Updated Analysis)

August 11, 2020

Bitcoin’s price is now sharply correcting after failing to close above the psychological $12,000 yesterday.In the last 24hrs, $14 billion has been withdrawn from the market as traders react to the double top that’s now appeared on the 4-hour chart. Bitcoin reached $12,100 yesterday and nine days ago, on August 2nd.As of writing these lines, Bitcoin marks $11,270 as the current daily low, while yesterday’s high was roughly at $12,100. Almost $900 price decline.All eyes will now be on the crucial up-trending support which has already been tested once during the latest candle. BTC will need to remain above this line to keep the bullish ascending triangle pattern in play.Price Levels to Watch Out For in the Short-termThe aforementioned up-trending support (the white line on the following

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Bitcoin Price Analysis: BTC Fails to Retest $12K, is the Bull Run Over?

August 6, 2020

Bitcoin bulls look pretty tired right now. The leading cryptocurrency has printed the first lower high since July 21 and is currently stalling around the 0.786 Fibonacci level (white lines) at $11,743.We’ve also seen $4 billion exit the market in the last ten hours, which seems to suggest that some traders are cashing out of the bull run.Is this an early warning that the bull run is ending?Bitcoin Price Levels to Watch in the Short-termOn the daily BTC/USD chart, we can see that the whale manipulation pattern, which was outlined in a previous analysis, has now been completed. We often see the price push sideways after this type of pattern emerges, as traders wait for more certainty in the market.We could likely see BTC prices hover in between the aforementioned 0.786 fib level and the

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Bitcoin Price Analysis: Bullish Reversal Pattern Emerges, BTC to $12K Soon?

August 4, 2020

We have now entered into Bitcoin’s worst month in terms of historical performance. On average, the leading crypto crashes 14% during the month of August.That being said, BTC price action appears to be falling in a bullish reversal pattern that suggests a spike to $12,000. And this could happen very soon. The mentioned pattern is formed from Whale trader manipulation designed to shake out weak hands, before the price quickly retraces back to its former high.Let’s look into it in more detail.The Bullish Reversal PatternLooking at a fractal on the following 2-Hour BTC/USD from last year, May 2019, we can see a strong reversal pattern that has a number of clear characteristics.BTC/USD chart via Tradingview1. A sharp decline, which retraces around 50% before closing.2. Then, a short period of

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Bitcoin Parabolic Surge Starting to Look Weak, Reversal Inbound? BTC Price Analysis

July 30, 2020

$7 billion has exited from the global crypto market in the last 12 hours, leaving a vast majority of token projects, including Bitcoin, in the red today.Right now, the total market capital stands at around $330 billion, according to Coingecko data. During the early Asian trading session this morning, there was an exodus of $5 billion in less than an hour, but it’s still uncertain why this drop has occurred.Is this an early sign that bitcoin sentiment is turning bearish?Bitcoin TechnicalsStarting on the smaller time frame, we can see that there is an apparent divergence between the price action and the RSI on the 4-Hour chart.Between July 27 and July 29, Bitcoin’s price set 3 consecutive higher highs. On the RSI, however, the indicator line dropped each time. This is a typical indication of

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