Bitcoin (BTC) Price Watch: Bearish Wedge Breakout

Bitcoin Price Key Highlights Bitcoin price recently broke below a rising wedge pattern to signal that further losses are in the cards. Price might still pull back to the broken support area, which lines up with Fib levels, to gather more selling pressure. Technical indicators are showing that there is still some bullish momentum left. Bitcoin price made a downside break from its rising wedge pattern but might be due for a pullback before heading further down. Technical Indicators Signals The 100 SMA is above the longer-term 200 SMA to…

Crypto Markets See Mixed Red and Green, BTC and ETH Hold Ground

Monday, September 17: crypto markets are today largely green, but scattered mild corrections are affecting several major-market-cap altcoins, as data from Coin360 shows. Market visualization by Coin360 Bitcoin (BTC) is just a fraction of a percent down on the day to trade at $6,484 to press time. Having reclaimed the $6,500 price point September 13, the top coin failed to break through to a yet higher level, but has instead jaggedly circled to consolidate the $6,500 mark. Despite a brief dip earlier today below $6,460, Bitcoin has since somewhat rebounded…

Bitcoin (BTC) Price Watch: Bullish Reversal Pattern Forming?

Bitcoin Price Key Highlights Bitcoin price appears to be gaining some traction off its recent bounce, possibly forming another double bottom. This is a classic reversal formation, so a rally could be due once price breaks past the $7,400 neckline. Technical indicators, however, are suggesting that the selloff might still resume. Bitcoin price might be ready to form another double bottom pattern, but technical indicators suggest that bearish pressure is still here. Technical Indicators Signals The 100 SMA is still above the longer-term 200 SMA for now but it looks…

Bitcoin (BTC) Price Watch: Bearish Pullback Underway?

Bitcoin Price Key Highlights Bitcoin price appears to be gaining a bit more traction on its bounce off the triangle support. Price could be ready to test the triangle resistance again, and this lines up with the 61.8% Fib level. Technical indicators are suggesting that the rallies could go on for a bit longer. Bitcoin price seems to have found support at the bottom of the descending triangle and may be ready to test the top again. Technical Indicators Signals The 100 SMA is above the longer-term 200 SMA to…

Bitcoin (BTC) Price Watch: Still Some Selling Pressure Left?

Bitcoin Price Key Highlights Bitcoin price is still consolidating inside its falling wedge pattern seen on the daily time frame. Price tumbled sharply upon hitting resistance and is setting its sights back on the bottom. There’s also strong support around the $6,000 mark, which explains why bitcoin price is consolidating here. Bitcoin price is currently pausing on its slide but may have one more push lower to go as it has yet to test the wedge bottom. Technical Indicators Signals The 100 SMA is below the longer-term 200 SMA to…

Crypto Daily News | OKEx Founder Arrested; Man Loses Savings on BTC

In today’s edition of Crypto Daily News, we’ll cover the details of OKEx’s founder being arrested by Shanghai police and the story on the man losing his life savings after Bitcoin (BTC) crashed. Crypto Daily News: September 11th, 2018 OKEx Founder Arrested The top crypto news today revolves around the latest reports of OKEx’s founder, Star Xu, being arrested for fraud by Shanghai police. Sina News: Star Xu, founder of OKCoin/OKEX, is being investigated by Shanghai police. According to Lu Jun, officer at the local PD, Xu was suspected of…

Bitcoin (BTC) Technical Analysis: Prices Reversing From $6,000

From a top down approach, it’s clear that sellers are in charge as BTC is down a massive 11 percent thanks to Sep 5 selling spree. Regardless, there is optimism for cryptocurrencies and Bitcoin in particular stemming mainly from bullish fundamental developments. This divergence means there is potential for BTC to recover in coming days. Because of yesterday’s double bar reversal pattern right at $6,000, a foundation for a potential recovery above this descending wedge is probable. From the News Around this time last year, Bitcoin and China were synonymous.…

Bitcoin Surges From $6,190 to $6,450 in Seconds, What’s Next For BTC?

In seconds, the Bitcoin price has surged from $6,190 to $6,450, by more than 4 percent, after the dominant cryptocurrency remained in the low $6,100 region for more than 24 hours. The sudden increase in the price of Bitcoin on September 9 was not expected by the majority of analysts and investors in the cryptocurrency market, primarily due to the sheer magnitude of its drop on September 5 Erik Voorhees Comment is Spot on In previous market recaps, CCN consistently cited the statement of ShapeShift CEO Erik Voorhees, simply because…

Bitcoin (BTC) Price Watch: More Bears Waiting to Join In?

Bitcoin Price Key Highlights Bitcoin price recently made a sharp tumble, breaking below an ascending trend line connecting the lows since mid-August. Applying the Fib retracement tool on the latest swing high and low shows that the 61.8% level lines up with the broken support. Technical indicators are suggesting a potential pickup in bullish momentum. Bitcoin price could be ready to make a pullback from its recent slide, and the Fib tool shows potential resistance levels. Technical Indicators Signals The 100 SMA is above the longer-term 200 SMA to indicate…

Bitcoin (BTC) Price Watch: Sharp Tumble on Resistance Test, Goldman Sachs Update

Bitcoin Price Key Highlights Bitcoin price slumped below its short-term rising wedge after also hitting the resistance on a larger wedge formation. Price could set its sights on the long-term support around $5,800 to $6,000 from here. Technical indicators are still reflecting the presence of bullish pressure, though. Bitcoin price made a downside break from a short-term consolidation pattern and is setting its sights back on the long-term floor. Technical Indicators Signals The 100 SMA recently crossed above the longer-term 200 SMA to indicate that the path of least resistance…