Bitcoin Price Faces Deeper Dive as Bear Cross Confirmed
Bitcoin looks set to test support at $7,520 after a bearish cross was confirmed Monday and recent gloomy China news.
Continue ReadingBitcoin looks set to test support at $7,520 after a bearish cross was confirmed Monday and recent gloomy China news.
Continue ReadingView Bitcoin’s consecutive weekly losses and multiple failures at key resistance have shifted risk in favor of a drop to around $8,550 and perhaps as low as $8,000. Daily chart indicators have turned bearish for the first time in over a month, supporting the case for a deeper decline. A high-volume move above $9,335 (descending […]
Continue ReadingNoelle Acheson is a veteran of company analysis and CoinDesk’s Director of Research. The opinions expressed in this article are the author’s own. The following article originally appeared in Institutional Crypto by CoinDesk, a weekly newsletter focused on institutional investment in crypto assets. Sign up for free here. To find out more about crypto valuation metrics, […]
Continue ReadingUpdate (Nov. 1, 15:03 UTC): Deribit will reimburse over $1.3 million in losses from the BTC index calculation data issue witnessed at 21:00:00 UTC on October 31, 2019. Another flash crash has occurred for bitcoin (BTC), this time appearing on the Coinbase Pro and Deribit exchanges. At 19:55 UTC on Oct. 31, BTC’s spot price dipped […]
Continue ReadingBitcoin’s price was quoted in five digits across cryptocurrency exchanges earlier today, but the breakout into $10,000 was short-lived. The number one cryptocurrency by market value jumped to $10,350 at 01:45 UTC – the highest level since Sept. 24 – according to Bitstamp data. Meanwhile, the global average price, as calculated by CoinDesk’s Bitcoin Price […]
Continue ReadingView Bitcoin fell to $9,600 earlier today, marking a downside break of recent low-volatility consolidation represented by the narrowing of Bollinger bands. The Bollinger band breakdown has opened the doors for a slide to $9,320 (August low). A break above $10,380 (Sept. 19 high) is needed to neutralize the bearish setup. Bitcoin’s recent low-volatility price […]
Continue ReadingView Bitcoin’s weekly moving average convergence divergence (MACD) histogram is reporting strongest bearish bias since December, suggesting the cryptocurrency may soon dive out of a narrowing price range. Daily chart indicators are also biased bearish. A range breakdown, if confirmed, would open the doors for a drop below $9,000. A range breakout would imply a […]
Continue ReadingBitcoin’s recent market movements have thrown into contention consensus about its short-term price direction, with traders asking openly if demand is strong enough to fend off another bear market. Such a question has emerged in the wake of the world’s largest cryptocurrency’s inability to set new highs above those seen in June and July, when optimism […]
Continue ReadingView Bitcoin has dipped beneath the 100-day moving average, potentially opening the doors to support near $8,500 if the bulls can’t keep prices above the MA. Total weekly volume for the bears is lower than expected, offering a small hope for a bullish rebound. Price would need a firm close above the 100-day MA in […]
Continue ReadingFew trading tools are as simple and as elegant as the “Awesome Oscillator.” First developed by American trader Bill Williams, the aptly named Awesome Oscillator (AO) is a momentum indicator that takes advantage of an immediate trend. The AO plots its data using a histogram, similar to how the MACD histogram functions, in that it delivers […]
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