Tag Archives: BTCGBP

Bitcoin’s price has failed to make a new all-time high and is currently going through a correction. Yet, the bull market might still be far from over. Technical Analysis By TradingRage The Daily Chart On the daily chart, the price has failed to hold above the $66K level and is currently going through a correction. This is not a good sign, as the cryptocurrency recently broke above a large descending channel but has struggled to continue higher, making it a fake breakout. The...

The Federal Reserve announced on Wednesday that it would not change its policy interest rate despite increasing political pressure to change course. No Rate Cuts Yet, Says Federal Reserve In a press release, the Federal Reserve declared that job growth and economic expansion have “remained strong” while inflation has only seen “modest progress” towards its 2% target. “The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that...

Bitcoin’s price has failed to keep up its upward momentum and has yet to set a new record high above the $75K level. Given the current price action, even a deeper correction is probable. Technical Analysis By TradingRage The Daily Chart On the daily chart, the price dropped below the $68K support level a few days ago. It has dropped back inside the large descending channel, making its recent breakout fake. The $60K support level seems like a valid target for the upcoming...

Bitcoin’s price has been having difficulty approaching its all-time high of $75K and is still consolidating. On Friday, the cryptocurrency tanked below $70K, and if the current level supporting the price breaks down, an even deeper correction could be expected. Technical Analysis By TradingRage The Daily Chart On the daily timeframe, the price has been hovering around the higher boundary of the large descending channel, failing to break it to the upside with momentum. The...

The cryptocurrency market has taken a u-turn in the past hour, with the majority of coins dropping considerably. Bitcoin’s price now trades below $70K, while the market sees close to $200 million worth of liquidated positions. BTC took a sudden hit as its price plummeted below $70K following what many considered a renewal of the bull run. Source: Binance via TradingView As seen in the chart above, the move was relatively sudden, completing a decline of around 2.5% in the past...

Bitcoin’s price has yet to break out of the large descending channel and move toward a new record high, but a further rally is highly probable. Still, BTC failed to overcome the psychological $70,000 line earlier this week decisively. Technical Analysis By TradingRage The Daily Chart On the daily chart, the asset has been rallying recently since a rebound from the lower boundary of the descending channel and the $60K support level. Yet, the higher trendline of the channel has...

Bitcoin’s price is on the verge of making a new all-time high after skyrocketing beyond the $70,000 line earlier this wee, and market participants are wondering how much further BTC will rally. Yet, there is still one obstacle remaining as the asset has retraced below that level. By TradingRage The Daily Chart On the daily chart, BTC has been rallying since its rebound from the $60K support level. It has recently been tested and rejected from the higher boundary of the large...

Bitcoin’s price is finally gaining some bullish momentum following almost two months of correction. It seems that the bulls are looking to paint a new record high in the coming weeks, but will they make it? Technical Analysis By TradingRage The Daily Chart Bitcoin’s daily price action has been showing an apparent corrective behavior. The cryptocurrency has been making lower highs and lows since dropping from $75K. The gradual decline inside a descending channel shows the...

The cryptocurrency market has calmed down considerably in the past 24 hours, halting the bearish assault and finding some consolidation in the process. Bitcoin’s price is trading at around $61K on Sunday morning, while Ethereum is now firmly below the pivotal $3K level. Are the Bitcoin Bulls Regrouping? As CryptoPotato reported yesterday, Bitcoin’s price experienced a sudden correction, dropping below $61K and losing around 3.5% in a single day. This seemingly had to do with...

Bitcoin’s price rally has come to a halt over the last couple of months as the market consolidates. Yet, things are about to change soon, either for the better or for the worse. Technical Analysis By TradingRage The Daily Chart On the daily chart, it is evident that the Bitcoin price has been consolidating inside a large descending channel. The midline of the channel has recently rejected the price to the downside, and the market is testing the $60K level once again. If this...