Tag Archives: Bitcoin (BTC) Price

Bitcoin’s price is approaching a key resistance area as the markets are patiently waiting for the CPI release next week. Both the chart and the high probability of another decline showing in the inflation readings are suggesting that a turning point for Bitcoin may be near. Technical Analysis By: Edris The Daily Chart On the daily chart, the price is still trapped in a large descending channel and has yet to break it to either side. This pattern is typically an early sign of...

Bitcoin and crypto markets are a full year into bear territory, and it has been about that time when the cycle bottom occurs. During the previous bear market, it came in December 2018, a year after the Bitcoin price peak. This time around, BTC has fallen 75% from its peak a year ago, and bottom signals are mounting up. On Dec. 6, Capriole Fund founder Charles Edwards took a deep dive into the on-chain data. He discovered that there were several signals suggesting it could be...

Following a massive decline in early November, Bitcoin’s price has consequently suffered from extremely low volatility. The cryptocurrency has been consolidating with serious downward momentum since this significant drop. Technical Analysis By Shayan The Daily Chart After falling below both the yellow trendline and the significant support level of $18K, the price is seeing very low volatility on the daily chart. A pullback to the trendline and the broken level is necessary...

Bitcoin’s price is approaching a significant level, which could prove decisive for the mid-term trend of the market. Although there are some positive signs on the technical charts, it remains too early to decide whether a new bullish phase is on the horizon. Technical Analysis By: Edris The Daily Chart: On the daily chart, Bitcoin’s price has been forming a large falling wedge over the last few months. The price has recently bounced back from the lower boundary of the pattern...

The past seven days were filled with a lot of information as the situation around FTX keeps unraveling. The former CEO of the exchange – Sam Bankman-Fried, had multiple appearances, but they may have spurred more questions than they answered. Before we get there, though, it’s important to note that the market managed to add around $20 billion to its capitalization, which is a step in the positive direction. Bitcoin managed to gain 2%, while ETH is up a total of 6% in the past...

Jerome Powell – Chairman of the Federal Reserve – recently spoke about the future of macroeconomic policy and U.S. inflation at the Brooking Institution. As is typical, Bitcoin’s price was affected by his comments, rising by 1% just as his speech began.  As of 18:13 UDT on Wednesday, Bitcoin traded for $16,780. The price then shot up to $16,850 at 18:30, when he began to speak. By 18:40, the leading crypto asset traded for $16,960. Over the past 3 months, the Federal Reserve...

The revenue Bitcoin miners receive is tumbling amid the depressing market conditions and lower prices. Somewhat expected, as the BTC dollar value goes down, so do the proceedings from mining. Data from Blockchain.com reveals that the revenue bitcoin Miners get is tumbling ever since the all-time high reached last year in November. At the time of this writing, it stands at around $11,670,337 for November 26th – the lowest it has been in exactly two years. Source:...

Bitcoin’s price action has rebounded significantly while testing key support levels. The next few days could determine whether the market would start a mid-term recovery or the gruesome downtrend would still continue. Technical Analysis By: Edris The Daily Chart: Looking at the daily chart, the correction has been halted over the last couple of weeks above the $16K support level. Regardless, bullish momentum is still lacking, and the price has failed to retest the $18K level....

Bitcoin crashed back beneath $16,000 on Monday, marking another 2-year low of $15,588.  Bitcoin began to show weakness at $16,000 at roughly 16:30 UDT, when the price briefly wicked down to $15,917. The asset then recovered to roughly $16,000, before crashing again to $15,588 at 19:45 UDT.  Ethereum also collapsed below $1,100 to just $1,084 at the time. The last time Bitcoin’s price touched these lows was in early November 2020, prior to Bitcoin’s bull market run that took...

The past year or so has not been kind to the primary cryptocurrency, following many industry and macroeconomic adversities. Even though the asset has lost roughly 80% of its value since the all-time high last November, some estimations show that it could drop further, perhaps to the four-digit territory. It was approximately a year ago when the industry was booming, led by the massive gains charted by the largest cryptocurrency. Perhaps fueled by the futures ETF launched in...