Tag Archives: Market Updates

The past week was concerning for Bitcoin bulls, as the BTC price plunged below $8,000. The volatility around this price level and the technical behavior observed on the charts gave traders plenty of room to work with.Fears of a potential return to the bear market also increased this week as the price continued to fall. There are, however, optimists who think that the correction is healthy for the market. In addition, the saga involving Tether and big market manipulation also added to the...

BitcoinBitcoin’s price is shuffling around $8,000 which is also the support in this range. The situation hasn’t changed a lot since the previous week. Resistance is built around the 200MA at $8,400. The triangle that we see on the chart becomes bearish. Breaking the trend will change the picture. Taking into account all the increases during this year, when we saw sharp corrections they were usually followed with attempts to surge back up, especially in light of quick declines as it was this...

We saw a week of action throughout the entire crypto market. Bitcoin’s price plunged, painting the entire market red. Of course, altcoins also plummeted against the USD but remained relatively stable against Bitcoin. The whole market seems to be under a lot of stress, at least according to the Fear & Greed Index:Wall Street, on the other hand, continues to rise as bond markets have seen significant drops. Despite predictions of a collapse in the capital markets, key indices keep on...

BitcoinWe saw a sharp correction with a high trading volume which dragged the price down to the Fibonacci levels at 0.618 within the $7,800 range. That’s a support line and if we break past through it to $7,200 we can also get down quickly to $6,200. In terms of resistance, the trend line goes down in clear red. Breaking it will only provide short-term security. Going above $10,400 will bring confidence back. This week’s plunge felt like a “sell the news:  event but that’s not what prompted...

News in the crypto market continues to pop as Bakkt’s futures caught the headlines this week. However, launching the platform failed to affect the price as many expected and it seems to have become a “sell the news” event as Bitcoin continues its downward trend.Following the SEC lawsuit against KIK raising capital through an ICO, the company fired 70 employees from its subsidiary Kin and CEO Ted Levingston announced that the company would close its messaging service.An important BITWISE...

BitcoinThe support around $10,000 did not hold. The price dropped and examined the support levels around $9200. The chart shows a resemblance from when Bitcoin went from $6000 to $3200, but it is unclear whether it will actually repeat the move and if we will see a 50% correction soon. Resistance in this range is at $10100.EthereumAgainst the dollar, the price did not perform well above $ 200 and corrected quite quickly to the $190 range, where short-term support is tested. Please note that...

The Bitcoin price has remained relatively stable in recent days. However, we have seen such periods in the past, and based on its past behavior, we can assume that another move is around the corner.Bitcoin’s stability in recent days has affected altcoins, which have showed signs of waking up as market players have returned to trading in the past week. We saw some major altcoins painted in green.Bitcoin’s mining difficulty is also setting new records.Source: Blockchain.comBitcoin’s dominance...

BitcoinThose who follow cryptocurrency market analysis can see the triangle and the convergence on the chars. The small trading volume also shows the fear index in the market. Resistance in this range is at $10,500, which is around the 50MA. Strong support is found at $10,000. Technically, it appears that we are on the verge of a move if we break above the support and could challenge $12,000. If the price breaks below the support, we might test the other strong support at...

Cryptocurrency news keep coming hot for yet another week of interesting events as the altcoin market is seemingly waking up. However, the market is in no hurry to buy the news and it doesn’t appear that we will see another altcoin season any time soon.The last quarter of 2019 is ahead of us and it seems that we will sum up the year as a successful one for Bitcoin, which has recently stabilized around $10,000, given that no one predicted it earlier this year. Also, Bitcoin’s hash rate...

BitcoinWe saw an attempt to break through the $11,000 resistance but it failed and we came back to test the support at around $10,200. The entire market anticipates the convergence of the triangle and we also account for a possibility to retrace back to $9,200. Data shows that there are more sellers during this period but demand exists and it’s felt in the price. If the price remains above $10,000, this would be a positive sign going forward.EthereumAgainst the USD, we saw the completion of a...