Tag Archives: Bitcoin (BTC) Price

Things took a turn for the worse in the past seven days as the leading cryptocurrencies plunged. The total market capitalization is down some $115 billion in seven days as multiple leading coins dropped by double-digit percentages. With that said, let’s unpack. Bitcoin trades at around $21,500, which is exactly 10% below its price at this time last week. The leading cryptocurrency by means of total market capitalization failed to overcome the critical resistance at $25K, and,...

Bitcoin’s relief rally from the $20K area seems to be coming to an end, as the $24K resistance level is rejecting the price once again. The 100-day moving average also acts as a resistance near the same level. Technical Analysis By Edris The Daily Chart: The 50-day moving average, which is currently located around the $22K level, could provide some support and initiate a rally above the $24K resistance level. In this case, a rapid rise towards the $30K supply zone would be...

Bitcoin continues its effort to break above the $24K resistance level, despite being constantly rejected by it in recent weeks. Will the bulls eventually manage to break it, or will the bears get the upper hand? Technical Analysis By: Edris The Daily Chart The price is technically in an uptrend as it has been forming higher highs and lows, but the $24K level is proving to be a very strong obstacle. The 100-day moving average has reached the same zone as well. It has been...

After getting rejected from the $24K sentimental resistance area three times, the Bitcoin price finally broke the threshold, forming higher highs and lows on the daily chart. Can buyers expect to see the $27K level reached next? Technical Analysis By Shayan The Daily Chart The weekly candle is closing tonight (Sunday’s midnight UTC), and if Bitcoin successfully closes above the $24K level, a rally toward the $27K region will be likely. However, the 100-day moving average – a...

Bitcoin continues its struggle to push and hold above $24K, as it has been rejected from this significant level for the third time. The price rebounded from the $20K support level last month and has been making higher highs and lows on the daily chart. This resulted in the creation of a bullish structure. Can the cryptocurrency finally break through its goal of the $24K resistance level? Technical Analysis By: Edris The Daily Chart As of this writing, Bitcoin has yet to break...

The past couple of days have been very exciting for the entire cryptocurrency industry and Bitcoin is no exception. BTC soared towards $24K today on news of slowing down inflation in the US. The question is if this will be enough for the critical resistance level to finally fall. Technical Analysis By: Shayan The Daily Chart The 100-day moving average is one of the most crucial levels for Bitcoin; it can be interpreted as a resistance or support line. This is dependent on...

Despite reclaiming the $30,000 mark late last night, bitcoin still closed the weekly candle in the red. Thus, the cryptocurrency extended its negative streak to eight consecutive weeks. 8 in a Row in Red A lot can change in the cryptocurrency space in two months, and it definitely did for bitcoin. The asset stood close to $50,000 at the end of March, and when the community expected a run towards that level, the landscape changed, BTC reversed its trajectory and headed for its...

After a few weeks of consolidation, Bitcoin was unable to increase and eventually broke to the downside. This resulted in a considerable liquidation cascade and a drop below the critical support level of $30K. Technical Analysis Technical Analysis Shayan The Daily Chart The market has now tapped the resting liquidity below the significant demand zone around $30K, but there are no signs of a reversal yet. Furthermore, the next support level for Bitcoin is $24K-$25K. The RSI...

Legacy American investor Bill Miller revealed he sold some “liquid stuff” to satisfy margin calls as bitcoin might be one of those assets. However, the billionaire remains a keen proponent of the primary cryptocurrency, describing it as an “insurance against financial catastrophe.” Not Changing his Stance The US investor, fund manager, and philanthropist Bill Miller stands as one of the most popular bitcoin supporters. He further strengthened his stance during the COVID-19...

This was the most eventful week in many months, but, unfortunately, the end result was that $500 billion were wiped off the total cryptocurrency market capitalization. Terra’s ecosystem was at the forefront of it all, so let’s unpack. On May 9th, UST – the algorithmic stablecoin of the Terra ecosystem, lost its peg. It fell to about $0.95, but no one was prepared for what happened after that. On the following day, UST continued losing value as the Luna Foundation Guard...