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Technical Analysis – BTCUSD drops to 6-week low as halving looms

Posted on April 18, 2024 at 10:03 am GMT

BTCUSD falls temporarily below 60,000 ahead of halving Momentum indicators point to intensifying downside pressures BTCUSD (Bitcoin) experienced a strong pullback following the formation of a triple top pattern, sliding below its 50-day simple moving average (SMA). Meanwhile, the price dropped to a fresh six-week low a tad beneath the 60,000 psychological mark, just a couple of days ahead of the crucial halving event. Given that the momentum indicators are heavily tilted to the downside, Bitcoin could revisit its March bottom of 59,313. In case [..]

Bitcoin holds above $70,000 as halving event looms – Crypto News

Posted on April 12, 2024 at 11:08 am GMT

Bitcoin trades sideways after posting 3-week high on Monday Cryptos seem resilient to expectations of fewer rate cuts Spot Bitcoin ETFs could soon get approval in Hong Kong Halving to occur next week, will it be a sell-the-fact event? Bitcoin stable around all-time highs Bitcoin has been in a steady upside trajectory since the beginning of the month, surging to a fresh three-week high of $72,730 on Monday. This bullish wave got disrupted by the stronger-than-expected US inflation report [..]

Technical Analysis – ETHUSD finds support at 50-day SMA

Posted on April 11, 2024 at 1:42 pm GMT

ETHUSD slides after recording 1-month peak But the 50-day SMA curbs its retreat Momentum indicators ease in positive zones ETHUSD (Ethereum) experienced a strong pullback from its 2024 peak of 4,090, dropping to as low as 3,060. This week, the price recorded a fresh one-month high of 3,410 before reversing lower to find solid support at the 50-day simple moving average (SMA). Should Ethereum bounce off its 50-day SMA and storm higher, immediate resistance could be found at the one-month peak of [..]

Technical Analysis – BTCUSD pauses pullback but still under pressure

Posted on April 4, 2024 at 10:39 am GMT

BTCUSD halts its retreat and recoups some losses But momentum indicators remain tilted to the downside BTCUSD (Bitcoin) experienced a strong pullback following its repeated inability to conquer the 71,750 hurdle. Although the price seems to be finding its footing in the last couple of sessions supported by a short-term ascending trendline, near-term risks remain tilted to the downside. If bearish pressures persist, Bitcoin could revisit its recent support of 64,500. Further declines could then cease at the March deflection point of [..]

What does the 2024 halving mean for Bitcoin? – Crypto News

Posted on April 2, 2024 at 1:34 pm GMT

The fourth Bitcoin halving set to occur around April 20 Bitcoin rose significantly in the aftermath of past halving events Will the win streak continue or could things be different this time? What is Bitcoin halving? The Bitcoin halving, also known as the halvening, is a process that occurs approximately every four years and essentially slices mining rewards in half. At Bitcoin’s initiation in 2009, every block rewarded 50 new Bitcoins to miners, with the number expected to fall to [..]

Bitcoin erases pullback but stalls at $70,000 – Crypto News

Posted on March 29, 2024 at 12:37 pm GMT

Bitcoin clips recent losses and eyes record highs ETF flows suggest a buy-the-dip mentality Cryptos did not move on PCE data despite closed markets Solid quarter comes to an end This week has been a relatively quiet one for crypto prices, with Bitcoin attempting to erase the latest slump from its all-time highs. Again, spot-Bitcoin ETF flows were the main drivers behind this rebound as the market exhibited a buy-the-dip mentality when Bitcoin prices hit the $60,000 psychological mark. [..]

Technical Analysis – BTCUSD advances towards all-time highs

Posted on March 28, 2024 at 1:36 pm GMT

BTCUSD pauses pullback and rotates higher Conquers 70,000 but encounters strong resistance Momentum indicators are tilted to the upside BTCUSD (Bitcoin) had been undergoing a strong pullback from its all-time highs, dropping to as low as 60,760 last week. However, the price quickly recovered significant ground, surpassing the 70,000 psychological mark and to trade within breathing distance from its all-time highs. If bullish pressures persist, the recent resistance region of 71,750 could repel initial upside attempts. A break above that region could [..]

Bitcoin bounces back after dovish FOMC meeting – Crypto News

Posted on March 21, 2024 at 3:50 pm GMT

Bitcoin slid from record highs amid growing ETF outflows But dovish Fed breathes life back into risky assets Ethereum and smaller coins follow Bitcoin higher Bitcoin pulls back due to stagnating ETF demand Cryptocurrencies began this week where they left off, extending their losses after a series of US data had been underscoring the scenario that the Fed could clip some of its rate cuts projected for 2024. Many speculative traders might have seen this as the perfect opportunity for some profit taking, causing a [..]

Bitcoin pulls back from record highs – Crypto News

Posted on March 15, 2024 at 12:29 pm GMT

Bitcoin posts consecutive record highs before retracing lower Drops below 70,000 psychological mark amid rising US yields Ethereum follows suit despite the successful Dencun upgrade Bitcoin down around 10% from record highs This week could be split into two different phases for Bitcoin and the crypto markets in general. Initially, the king of cryptos marched to consecutive all-time highs, peaking at $73,800 on Thursday. Again, intensifying investor demand towards spot-Bitcoin ETFs was the main catalyst, albeit there were no fresh [..]

Technical Analysis – ETHUSD trades flat in Dencun upgrade aftermath

Posted on March 14, 2024 at 2:33 pm GMT

ETHUSD trades sideways in the past few sessions Fails to capitalise on completion of Dencun upgrade on Wednesday Momentum indicators ease but do not exit overbought zones ETHUSD (Ethereum) has been in a steep uptrend in 2024, surging to consecutive multi-month highs. However, the leading altcoin seems to be consolidating in the past few sessions despite the successful completion of the Dencun upgrade as it has been repeatedly repelled a tad below the 4,100 mark. Should bullish pressures fade, the price [..]

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