bitcoin / 326 posts found
Bitcoin Held in a Crucial Area, Will BTC Price Break Out the Range or Drop Below Hard This Weekend?
Bitcoin price continues to accumulate gains of around the pivotal zones at $19,000 aiming to prevent a fine pullback below the yearly lows. The price is constantly retesting the $18,500 support levels following a rejection from the major bearish trendline while the 50-day & 100-day MA levels also stand refused. If the asset rebounds from the current zone, then the above-mentioned pivotal levels may soon turn into pivotal resistance levels below $24,000. Therefore, if the BTC price is required to break above all of the pivotal levels, intending to reverse the ongoing bearish trend. Conversely, if the price fails to […]
Bitcoin Stable at $19K Despite BOE’s 50 Basis Point Interest Rate Hike
Cryptocurrency Attempting to fight the raging inflation, the Bank of England raised the interest rates by 50 basis points today. BTC’s price remained stable, without any significant volatility, unlike what happened yesterday when the Fed did the same. The inflation rates in many countries skyrocketed in the past several months, and the UK is no exception. The percentage there neared 10% for the month of August – levels not seen in several decades. The central bank – the Bank of England – has used primarily one tool to try to battle the galloping inflation – increasing interest rates. The latest […]
Bitcoin Dicing With Death as Dollar Drives Dump
Reading Time: 2 minutes Bitcoin has dropped through a crucial support level at $18,700 The U.S. Dollar Index is going the opposite way, soaring to fresh highs This is a recipe for disaster for the crypto market Bitcoin is sitting very precariously right underneath a crucial support zone after yesterday’s interest rate hike caused the U.S. Dollar Index to spike. The DXY has now broken through the last resistance before its 2002 top of 120, and with more money rushing to the safe haven of the dollar it seems that both crypto and traditional markets are about to take another […]
Bitcoin is Heading to $14,000: Here’s Why According to DataDash
Nicholas Merten – a veteran cryptocurrency analyst and founder of DataDash – has called for Bitcoin to sink to $14,000 following its plunge below $19,000 over the weekend. The analyst cited both technical and macroeconomic factors, including an indicator that he calls “absolutely damning” for Bitcoin’s price. Deeper Waters for Bitcoin? In a video published on Monday, Merten pointed out that Bitcoin’s 200-week moving average (WMA) has turned into a level of price resistance, rather than support. The primary cryptocurrency has almost always stayed above the average throughout its existence, with rare descents below it marking cyclical bottoms. However, Bitcoin […]
