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Technical Analysis – BTCUSD rebound tested by 50-day SMA

Posted on September 21, 2023 at 8:34 am GMT

BTCUSD remains perky after bouncing off 25,000 support But 50-SMA proving to be a difficult obstacle to overcome Can Bitcoin maintain its recovery? BTCUSD (Bitcoin) has extended its rebound from the September 11 low of 24,920. However, the upside pressure has started to wane after coming into contact with its 50-day simple moving average. The momentum indicators are in the bullish zone but are pointing to some deterioration in the positive bias in the near term. The RSI has started [..]

Bitcoin takes a breather after Monday’s strong selloff – Crypto News

Posted on September 15, 2023 at 11:55 am GMT

Bitcoin dropped below $25,000 on Monday for the first time since June Quickly reclaimed $26,000 amid broader risk-on sentiment in markets The formation of a death cross in the daily chart darkens outlook Bitcoin recovers from 3-month low; caution ahead On Monday, the price of Bitcoin declined below the $25,000 mark for the first time since June 16 in the absence of any major catalyst. A potential factor behind this meaningful sell-off was the anticipation of a court decision on [..]

Technical Analysis – BTCUSD dodges selloff despite death cross completion

Posted on September 13, 2023 at 8:15 am GMT

Bitcoin hovers within 25,000-26,000 range in September Rebounded after posting fresh low just shy of June bottom Death cross points to more losses but momentum indicators diverge BTCUSD (Bitcoin) has been trading without clear direction in the short term but extended its structure of lower lows. Interestingly, the completion of a death cross between the 50- and 200-day simple moving averages (SMAs) did not trigger a decline, with the short-term oscillators currently tilting to the bullish side. If buying interest intensifies, [..]

Bitcoin languishes around $26,000, lacking directional catalysts – Crypto News

Posted on September 8, 2023 at 9:51 am GMT

This week has been a relatively quiet one for Bitcoin and cryptocurrency markets in general, with prices exhibiting low volatility amid fading investor interest. Much of the observed numbness is caused by the uncertainty in their regulatory framework, which has shifted funds towards traditional risky assets like stocks. Meanwhile, the macroeconomic backdrop does not seem to be providing any aid as inflationary pressures are starting to reappear, underscoring the case of interest rates staying higher for longer. Risky assets under pressure Latest [..]

Bitcoin erases latest advance, hovering again around 26,000 – Crypto News

Posted on September 1, 2023 at 11:54 am GMT

Bitcoin started September in a choppy trading session, following an 11% drop in August, which is its worst monthly performance since November 2022. The king of cryptos has exhibited high volatility in the current week, with yesterday’s slump completely erasing Tuesday’s solid rally that came on the back of positive developments on the regulatory front. Historically, September is a tough month for cryptos as Bitcoin has posted a red monthly candlestick in each of the past six Septembers, will the [..]

Technical Analysis – BTCUSD rebounds strongly but 200-SMA caps upside

Posted on August 31, 2023 at 12:13 pm GMT

BTCUSD (Bitcoin) broke aggressively above its rangebound pattern on Tuesday, temporarily jumping above the 28,000 mark. However, the bulls lost the battle around the 200-day simple moving average (SMA), with the price slipping before entering a tight range in the last couple of sessions. The momentum indicators currently suggest that near-term risks remain tilted to the upside. Specifically, the MACD is strengthening above both zero and its red signal line. If buying interest intensifies, the king of cryptos could initially test [..]

Bitcoin battles with $26,000 level ahead of Jackson Hole – Crypto News

Posted on August 25, 2023 at 11:53 am GMT

Bitcoin has been trading within a range during this week as investors and markets are bracing for Jerome Powell’s speech at the Jackson Hole symposium on Friday. Lately, cryptocurrencies have been following moves in stock markets, thus it is highly likely that they will also react to any dovish or hawkish surprise. Given the doom and gloom surrounding China and the latest downbeat PMIs across major economies, the risks for cryptos are asymmetrically tilted to the downside. Cryptos regain risk-sensitive [..]

Technical Analysis – BTCUSD consolidates as declines pauses

Posted on August 24, 2023 at 10:41 am GMT

After a prolonged period of sideways trading during the summer months, BTCUSD (Bitcoin) experienced a vast sell-off, dropping to a fresh two-month low of 25,350. Nevertheless, the king of cryptos appears to have temporarily paused its decline, with the price trading without clear direction for the past few sessions. The momentum indicators currently suggest that bearish pressures are fading. Specifically, both the RSI and the stochastic oscillator managed to escape their oversold territories, hinting that the latest drop might have been [..]

Bitcoin collapses to fresh 2-month low pressured by rising yields – Crypto News

Posted on August 18, 2023 at 11:53 am GMT

The period of prolonged calmness in the crypto sphere has officially come to an end, with Bitcoin posting its biggest daily drop on Thursday since the collapse of FTX in November 2022. For quite some time, cryptocurrencies remained immune to any macroeconomic and idiosyncratic developments, but now they have started to feel the wrath of rising Treasury yields. As global markets have been flooded with risk-off sentiment, Bitcoin slumped to a fresh two-month low amid heightened volatility. Cryptos cry as yields spike [..]

Technical Analysis – BTCUSD drops to 2-month low

Posted on August 17, 2023 at 8:50 am GMT

BTCUSD (Bitcoin) has been rangebound for almost a month following a mild pullback from its recent 2023 highs. However, the king of cryptos has been gradually forming a structure of lower highs and lower lows similar to the one observed during the April-June period, with the price posting a fresh two-month bottom in today’s session. The momentum indicators currently suggest that near-term risks are tilted to the downside. Specifically, both the RSI and the stochastic oscillator are negatively charged just shy of [..]

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