Bitcoin (BTC) Price Watch: Sellers Picking Up Steam!

2018-6-12 07:55

Bitcoin Price Key Highlights

Bitcoin price has formed lower highs and lower lows to trade inside a descending channel on its 1-hour chart. Price is testing support and a bounce could take it back up to the resistance or the Fibonacci retracement levels. Technical indicators are suggesting that the downtrend is likely to resume.

Bitcoin price could be due for a pullback on its downtrend as it bounces off the bottom of its descending channel.

Technical Indicators Signals

The 100 SMA is below the longer-term 200 SMA to indicate that the path of least resistance is to the downside. In other words, the selloff is more likely to resume than to reverse. The gap between the moving averages is also widening to reflect strengthening bearish pressure.

In addition, the 100 SMA lines up with the 61.8% Fibonacci retracement level at $7,289 to add to its strength as a ceiling. The 50% level is closer to the former swing low around $7,200 so this might also keep gains in check.

RSI is still heading up so bitcoin price might follow suit. However, this oscillator is already nearing overbought territory to show that buyers are getting tired and may let sellers take over. In that case, another dip back to the swing low at $6,600 or the channel bottom closer to $6,400 may take place.

Stochastic is already indicating overbought conditions to suggest a return in selling pressure. If sellers are eager to hop in, the correction could be shallow and price might still be able to break below support to start a steeper drop.

BTCUSD Chart from TradingView

Bitcoin price is still under pressure from news of the hack on a small South Korean exchange as this still spooked several investors to liquidating more positions. Security issues in the industry haven’t been completely addressed after all and there are still jitters over the ongoing investigation into price manipulation.

The post Bitcoin (BTC) Price Watch: Sellers Picking Up Steam! appeared first on NewsBTC.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 67141.7 (+0.04%)
Объем 24H $21.852b
Изменеия 24h: 0.06 %, 7d: 10.35 %
Cегодня L: $66031.14 - H: $67143.86
Капитализация $1322.741b Rank 1
Доступно / Всего 19.701m BTC / 21m BTC

price bitcoin lower watch picking sellers btc

Источник: newsbtc.com

price bitcoin → Результатов: 25


Фото:

Bitcoin To $240,000: Analyst Cites Key Narrative As Catalyst

Bitcoin price has fallen by over 10% after briefly touching its all-time high of $69,000, propelled by investors’ flood of money into BTC Spot Exchange-Traded Funds (ETFs). However, intense volatility surrounding the crypto asset’s price has triggered a rebound to the $68,000 mark, which highlights the return of positive enthusiasm, prompting predictions of a significant rally to an unprecedented height.

2024-3-9 19:00


Bitcoin approaches its $69k all-time high price: Should you start buying BTC-related projects?

Key takeaways BTC continues to trade around $62k as it closes in on its all-time high price. Bitcoin Dogs’ presale will end in 12 days and has already raised over $6.3 million Bitcoin eyes its all-time high price of $69k The crypto market was bullish this week, adding 20% to its value in the last […] The post Bitcoin approaches its $69k all-time high price: Should you start buying BTC-related projects? appeared first on CoinJournal.

2024-3-3 00:16


Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Not Out Of Danger Yet, NVT Golden Cross Warns

On-chain data shows the Bitcoin Network Value to Transactions (NVT) Golden Cross still has a high value, a sign that may be bearish for BTC. Bitcoin NVT Golden Cross Is Still Near Historical Top Zone In a CryptoQuant Quicktake post, an analyst discussed the recent trend in the NVT Golden Cross for BTC and its implications for the price.

Bitcoin Hash Ribbons Form Capitulation Signal: What It Means

On-chain data shows the Bitcoin Hash Ribbons have recently gone through a crossover. Here’s what it could mean for the cryptocurrency. Bitcoin Hash Ribbons Suggest Miner Capitulation Is On As explained by CryptoQuant community manager Maartunn in a Quicktake post, miners are capitulating right now if the Hash Ribbons indicator is to be believed.

Bitcoin Deja Vu: Indicator Mirrors Pattern That Led To 2021 Top

On-chain data suggests a Bitcoin indicator is currently mirroring the same trend that led to the top of the bull run in 2021. Bitcoin Long-Term Holder Distribution Appears To Be Ending As explained by CryptoQuant community manager Maartunn in a post on X, the BTC long-term holders are currently showcasing a trend that’s reminiscent of […]

Bitcoin HODLer Profit-Taking Calms Down After Wild Selling Spree: Green Sign For Rally?

On-chain data shows the Bitcoin long-term holders have finally cooled off their profit-taking after showing a wild selloff just earlier. Bitcoin Coin Days Destroyed Has Calmed Down For BTC Recently As pointed out by BTC on-chain research account “The Bitcoin Researcher” in a post on X, the Coin Days Destroyed In Profit metric has declined […]

Bitcoin Supply Shock: Exchange Inflow Trend Lowest Since 2015

On-chain data shows the Bitcoin exchange inflow trend has been at its lowest in almost a decade recently, a sign that may be bullish for the asset. Bitcoin Exchange Inflows Have Been On The Decline Recently As pointed out by CryptoQuant author Axel Adler Jr in a post on X, the BTC exchange inflows have […]

Bitcoin To Reach Escape Velocity? Analyst Makes The Case

An analyst has explained how Bitcoin seems to be showing a good setup to reach escape velocity based on the trend in this indicator. Bitcoin VWAP Oscillator Has Been Showing A Bullish Divergence As explained by analyst Willy Woo in a new post on X, a bullish divergence has appeared to be forming in the Volume-Weighted Average Price (VWAP) oscillator of the cryptocurrency.