Bitcoin Price Suffers Sharp Decline, Brace For Impact

2024-4-14 22:00

On Friday, the price of Bitcoin experienced a drop, which saw the price fall from $71,310 to $65,370. The price is retracing at the moment, and there are possibilities that it could still move downward. At this point, it could be that BTC’s price is losing steam and headed for a downward shift.

At the time of writing, the price of BTC was up by 0.9%, trading around $67,734 below the 4-hour 100-day moving average in the last 24 hours. However, in the daily timeframe, the price is still trading above the 100-day moving average.

Bitcoin On The 4-hour Chart

Looking at the 4-hour timeframe chart, Bitcoin is already trading below the 100-day moving average and trying to break below the trend line. The price could start a new trend downward if it manages to break below the trend line.

Also, with the help of the MACD indicator, the MACD histogram is trending below the MACD zero line. Both the MACD line and the signal line are trying to cross below the MACD zero line. This formation of the MACD indication simply suggests that the price could move downward.

Using the Relative Strength Index (RSI) to also analyze the price action in the 4-hour timeframe, the RSI line is already trending at the oversold section below the 50% level, suggesting a bearish trend might be on the horizon.

BTC On The Daily Chart

Although the price is still trading above the 100-day moving average in the daily timeframe, the MACD histogram is already trending below the MACD zero line. Also, the MACD line and Signal are heading toward the MACD zero line, which could be a strong indication that prices could drop.

Looking at the chart with the RSI indicator, the RSI line is trending slightly below the 50% level, indicating that the price might move downward and potentially start a bearish trend.

Bitcoin might start a downward correction movement if the price experiences a drop after this retracement. Additionally, if this downward correction starts, it might move toward its previous low of $64,625.81, and a break out from this level will trigger a bearish trend.

On the contrary, if the price of Bitcoin fails to break below its previous low, it could continue in its upward direction toward its previous high of $73,010, and if the price manages to break above this level, it might move even further to create a new high.

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
Доступно / Всего 0 LINKETHPA

price bitcoin moment 370 retracing still move

Источник: bitcoinist.com

price bitcoin → Результатов: 126


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


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Milestone Ahead? Analyst Forecasts New Peak This Month

In the face of a general market decline and pessimism, Captain Faibik, a cryptocurrency expert and enthusiast, has emerged with an optimistic outlook for Bitcoin (BTC) foreseeable future trajectory, predicting that the crypto asset could rise to a new all-time high before this current month closes.

Avalanche (AVAX) Downtrend Persists Amid Market Uncertainty

Generally, the cryptocurrency market is bearish at the moment, with coins like Avalanche (AVAX), Ethereum, Litecoin, XRP, Solana, and others all caught in this trend. Currently, the price of AVAX is on a strong bearish move below the 100-day Moving Average (MA) and could continue in that direction for a while before retracing.

Arbitrum (ARB) Poised For Resurgence: Downtrend Reaching Climax?

Generally, the crypto market has been experiencing a pullback after Bitcoin and many other coins like Ethereum have recorded a new all-time high of which Arbitrum (ARB) was not left behind. Arbitrum, which has a lot of potential with a market cap of over $3.