Bitcoin Bulls Rejected Hard At $11,500 Retest, Rapid $250 Drop Follows

2020-10-15 19:28

Bitcoin price is experiencing a surge of intraday volatility, rocketing $150 in minutes then collapsing more than $250 just moments later.

Here’s what is going on in the top-ranked cryptocurrency and what to watch for as price action to develops.

Triangle False Breakout Rejects Bulls Back Below Resistance At $11,500

Bitcoin’s notorious volatility is back after a short-lived phase of tranquility. Explosive price action this week following a bullish breakout of a downtrend line on the heels of Square news sent the cryptocurrency well above $11,000 and kept climbing.

Bulls Rejected After False Descending Triangle Breakout | Source: BTCUSD on TradingView.com

Resistance above $11,750 proved too strong to penetrate and the leading crypto asset by market cap fell lower, where a triangle began to form.

Related Reading | Analyst: Sidelined Capital Enough To Push Bitcoin To $1 Trillion Market Cap

This morning, a false breakout of the upper trendline baited bulls into a fierce rejection, resulting in a sharp drop of $250 lower.

Bearish Bitcoin Chart Pattern Points To Retest Of $11,000, Will It Hold?

Zooming out further, shows the descending triangle breaking down with a potential target of $11,000.

Descending Triangle Bearish Breakdown in Progress | Source: BTCUSD on TradingView.com

Bears have a chance of pushing Bitcoin back down toward $10,000 if bulls cannot defend the key support level. However, if the crypto asset can reclaim $12,000, chances of a higher high in 2020 will become a lot more likely.

Related Reading | Dwindling Bitcoin Volatility Could Lead To Decisive Move

The current price level is a pivotal range where whichever way breaks, could set the trend for the rest of the year and into 2021.

Featured image from Deposit Photos, Charts from TradingView.com

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 467.1 (+0.48%)
Объем 24H $0
Изменеия 24h: 0.85 %, 7d: 17.53 %
Cегодня L: $453.49 - H: $467.1
Капитализация $0 Rank 3676
Цена в час новости $ 388.55 (20.22%)

250 bitcoin price later moments action develops

Источник: newsbtc.com

250 bitcoin → Результатов: 126


Here’s How Bitcoin Would Hit “Bizarre” $250,000 in Next Few Years

Long-term venture capitalist Tim Draper has doubled down on his prediction of $250,000 each Bitcoin in the next two years. Draper’s bold prediction isn’t based on any technical analysis because he doesn't “quite understand” them but he sees it “pretty likely that we’re gonna hit $250,000 by end of 2022 or early 2023 based on […]

2019-12-20 17:14


Тим Дрейпер: Bitcoin может подорожать до 250 тысяч долларов. Миллиардер объяснил свое мнение

Предприниматель и миллиардер Тим Дрейпер, который известен тем, что является Bitcoin-оптимистом, уверен, что в его прогнозе о старейшей криптовалюте за 250 тысяч долларов есть рациональное зерно. По его словам, халвинг в блокчейне Bitcoin, который состоится третий раз за историю этой криптовалюты, и приведет к очередному снижению в два раза уровня «награды» в виде криптовалют за…

2019-12-20 14:15


Tim Draper’s Still Bullish On Bitcoin, Calling For $250k By 2022 Based on Infrastructure Not Halving

Tim Draper remains bullish about the future of the cryptocurrency market. In a recent interview, he mentioned that Bitcoin (BTC) could reach a price per coin of $250,000 between 2022 and 2023. Moreover, he explained why the next price surge will not necessarily be related to the halving Bitcoin will experience in May 2020. Bitcoin […]

2019-12-7 21:32


Фото:

Binance CEO to sue The Block over alleged fake Shanghai police raid story

On Nov. 21, crypto industry publication The Block released a story entitled “Binance’s Shanghai office shut down following police raid, sources say.” The article quickly blew up on Twitter, with some going as far as to suggest that it contributed to the recent collapse of the Bitcoin price, which now sits at $7,250 as of […] The post Binance CEO to sue The Block over alleged fake Shanghai police raid story appeared first on CryptoSlate.

2019-11-23 10:19


Фото:

Binance CEO to sue The Block for fake Shanghai police raid story

On Nov. 21, crypto industry publication The Block released a story entitled “Binance’s Shanghai office shut down following police raid, sources say.” The article quickly blew up on Twitter, with some going as far as to suggest that it contributed to the recent collapse of the Bitcoin price, which now sits at $7,250 as of […] The post Binance CEO to sue The Block for fake Shanghai police raid story appeared first on CryptoSlate.

2019-11-23 10:19


Фото:

Популярный инвестор: bitcoin подорожает до $250 тыс. к 2023 году

Четверг начался для bitcoin с бокового движения. На момент написания новости криптовалюта торгуется по $8776 (данные CoinMarketCap), что эквивалентно 0% суточного роста. Большинство активов из топ-10 рейтинга капитализации, по состоянию на 07:34 по МСК, демонстрируют позитивное движение.

2019-11-14 08:21


Появился еще один претендент на роль основателя Bitcoin. Йорг Молт пошел по пути Крейга Райта

Криптовалютное сообщество с любопытством следит за тем, что появился человек, Йорг Молт, который заявил, что он является изобретателем Bitcoin, то есть Сатоши Накамото. Во время конференции SIMS в Международном университете Symbiosis он был представлен как «со-учредитель Bitcoin».

2019-11-5 13:22


Фото:

Hundreds charged after takedown of child exploitation site which made $730K in Bitcoin

A 23-year-old South Korean man is being accused of running the world’s “largest child sexual exploitation market,” which reportedly processed 7,300 Bitcoin transactions worth over $730,000. According to a criminal indictment unsealed today, the now-defunct English-language website known as “Welcome To Video,” featured over 250,000 child exploitation videos – approximately eight terabytes worth of horrific material.

2019-10-16 18:32


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Fundstrat CEO Predicts When Bitcoin Price Will Reach $150,000 And $500,000

Thomas Jong Lee, the Chief Executive Officer (CEO) of Fundstrat, an independent financial research boutique, has maintained a bullish stance on Bitcoin. The financial analyst has predicted that the world’s largest cryptocurrency could surge massively, doubling its current price to reach $150,000 during the 2024 crypto market cycle.

Why Is The Bitcoin Price Falling Today?

Bitcoin (BTC) has experienced a price slowdown, having recently recovered above $60,000. This tepid price movement is believed to be due to a couple of factors, including the reduced demand for the Spot Bitcoin ETFs.

Finance Expert Raoul Pal Says 20% Bitcoin Correction Only Temporary As Euphoria Will Return

Co-founder and Chief Executive Officer (CEO) of Real Vision, Raoul Pal has shed light on the current market state and the future outlook of Bitcoin, the world’s largest cryptocurrency. Despite the cryptocurrency witnessing declines of more than 15%, the financial expert has uncovered a significant pattern that indicates a potential bull flag following Bitcoin’s price correction.