• Bitcoin is trapped in a bearish trend with newly formed head-and-shoulder pattern on the 4-hours. • If the price breaks below $7100 support, Bitcoin would be doomed for a serious fall • A climb above $7300 could possibly ignite bulls’ hope again! Bitcoin’s price is facing a lot of bearish pressure over the past […]
Bitcoin miners in Sichuan, a province in China, have come under heavy pressure by local authorities to lessen their operations as the province is witnessing deficits in electricity production. It was reported on the 29th of December by Asia Times that the area usually expects a power shortage in the dry season (starting from October […]
Well, we will get to know that at the close of the day. Since Bitcoin fell from $7700 on December 23, the price has been facing a lot of huge supply and demand, trapping the most-traded coin to between $7100 – $7500 zones for a couple of days now. If Bitcoin manages to cross these […]
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Last week, Bitcoin’s price regains momentum to $7500 on Bitfinex after locating support at $7100, holding over the past week. Though the bullish move is looking realistic; Bitcoin needs to break more key resistance zones before we can confirm a potential reversal above $8000. For now, $7900 is an important resistance to set BTC on […]
Yesterday, Bitcoin’s price spiked up the $7300 resistance to $7465 on the day, but the market could not continue buying pressure. The surge was later followed by a dump to around $7200 – where BTC is trading up till now. However, a drop below $7000 may result in a massive sell-off as Bitcoin could roll […]
As the year 2019 runs to an end, Bitcoin’s price continues to trade above the $7100 support for some days now following a sharp rejection at $7700 on December 23. The short-term bullish sentiment would remain valid as long as Bitcoin stays above technical support of $7000. Today, BTC dominance is up by 68.9% but […]
Chinese media house, CCTV, announced on the 22nd of December that the Chinese authorities have confiscated about 7,000 cryptocurrency mining machines, which were reported to be illicitly expending power in the country. The arrogation of the machines was a product of a routine inspection of properties in the area. In total, 70,000 homes, 3,060 vendors, […]
In our previous crypto trading signals, we mentioned possible moves for Bitcoin’s price action. Leaving the weekly bullish rally, Bitcoin’s bear gained control of the market over the last 24-hours hours and as such, the price has dropped below the rising wedge that was spotted on the hourly chart. This suggests that short-term bullish may […]
