Bitcoin has seen some immense selling pressure today that has led it down to its key support at $9,000. The crypto is now flashing some signs of growing weakness as it continues struggling to post any decisive bounce at this level.
This has led analysts to note that the cryptocurrency’s selling pressure is “back in full force” – and it could be enough to spark a mid-term downtrend due to BTC currently being at an inflection point.
Bitcoin is also presently at risk of breaking below its middle Bollinger Band support level for the first time in over a month.
A sustained decline beneath this level could be enough to send the crypto reeling significantly further in the days and weeks ahead.
Bitcoin Flashes Signs of Weakness as Selling Pressure Ramps Up
After an extended period of range-bound trading within the mid-$9,000 region, Bitcoin is now in jeopardy of seeing further losses.
At the time of writing, Bitcoin is trading down over 5% at its current price of $9,100. This marks a notable decline from recent highs of over $9,800 that were set yesterday morning.
The cryptocurrency’s ongoing dip was triggered by a news-induced selloff that came about when a Satoshi-era wallet from 2009 moved 50 BTC that had been dormant for a decade.
This led BTC to decline to lows of $9,300 yesterday before bouncing back into the $9,500 region.
Although it appears that this was an overreaction to the news, the technical damage caused by this movement has been enough to spark a potential downtrend.
This could be further perpetuated by the multiple rejections that it has seen at $10,000 throughout the past several days and weeks.
One popular pseudonymous trader on Twitter explained that this marks an inflection point for the cryptocurrency, and it is now positioned to see further losses as “buy the dip season” comes to an end.
“Sell pressure is back in full force. Buy the dip season is over. Inflection points. Swing shorts and scalping from here on out,” he noted.
BTC Reaches Key Technical Support Level as Technical Structure Degrades
This decline has led Bitcoin to a key support level that has only been briefly dipped below on one occasion throughout the past month.
BTC’s middle support level within its Bollinger Band formation has been helping the cryptocurrency climb higher in recent times, with sellers only pushing the crypto below this level for a brief instance in late-April.
Another popular analyst spoke about the ongoing break below this level in a recent tweet, offering a chart showing that a decline to its lower band boundary could lead it towards $8,000.
“BTC – flirting with loosing middle BB support for the first time in exactly 1 month.”
Image Courtesy of Big Chonis
Featured image from Shutterstock. origin »
Bitcoin is currently trading in a narrow range, caught between the $113K resistance and the $110K support level. Bulls are struggling to regain momentum after recent pullbacks, while mounting selling pressure continues to weigh on short-term sentiment.
Robust volatility and bearish pressure have hampered Bitcoin‘s upward momentum, causing the flagship asset to drop significantly to the $74,000 threshold before briefly recovering to $78,000. Large investors have maintained a notable bullish sentiment and buying pressure even as BTC’s price experiences constant fluctuations.
El Salvador President Nayib Bukele says the country will keep buying at least one Bitcoin a day, despite pressure from the International Monetary Fund.
Bitcoin's recent decline in buying pressure presents opportunities for short positions or accumulation
Negative pressure zones could signal further downside or a chance for long-term investors The post Bitcoin's buying pressure weakens: Traders, is it time to accumulate or exit? appeared first on AMBCrypto.
Bitcoin started the week on a rather silent note despite bulls’ spirited struggle to maintain a price above $60,000 over the past few weeks. Despite initial optimism, the cryptocurrency has faced increased selling pressure, signaling potential challenges ahead for investors.
Join us as we discuss the significance of Bitcoin reaching $29,000 and why it seems to be unaffected by all the regulatory pressure and collapsing banks.
Bitcoin has been flashing signs of strength today as it rebounds from an intense selloff seen yesterday. Its reaction to this dip proves that this is a firm bull market, as each bout of selling pressure is met with serious buy-side pressure that slows its descent and helps lead it to see further upside. Where […]
After facing a constant stream of buying pressure that led Bitcoin’s price to climb as high as $9,550, BTC faced a large influx of overnight selling pressure that sent it reeling down to lows of $9,200 before it found some support.
Bitcoin and the aggregated crypto markets are currently plunging as the selling pressure that they first incurred this past weekend continues to perpetuate, and analysts are now noting that it is highly probable that BTC...
Bitcoin and the aggregated crypto markets have been facing increased volatility as of late, and following a sharp move towards $11,000 yesterday, BTC has been unable to garner any significant buying pressure and has been drifting lower.
After facing an extended bout of sideways trading, Bitcoin incurred a sudden influx of buying pressure earlier today that allowed it to surge past $9,000, which immediately led many investors to believe that an extension of this surge would lead the crypto to the coveted $10,000 region.
Stocks continue to sink as the S&P 500 index today went under 2,800 points. Bitcoin, on the other hand, has marked a quick recovery demonstrating itself as the best performing alternative asset.
Over the past 48 hours, Bitcoin (BTC) has begun to locally top out, with buying pressure slowing and prices slightly slipping. One prominent investor, however, explains that we’re just getting started, looking to strong fundamentals in the broader cryptocurrency sector.
The bulls continue dominating both the short and medium-term outlook. Responsible buying at key areas may be considered. BSV/USD Medium-term Trend: Bullish Supply zones: $160, $180, $200 Demand zones: $50, $40, $30 BSVUSD is in the uptrend in its medium-term outlook.
Coinspeaker Bitcoin Price Analysis: BTC/USD Broke Out at $8,233 Level, Uptrend May ContinueShould the $8,608 level hold, the bulls will continue to put the Bitcoin price on the uptrend track.
Bitcoin was priced at $8,004. 45, with a market cap of $141 billion. The 24-hour trade volume came up to be $21. 4 billion, out of which Negocie Coins contributed 9. 50% via the BTC/BRL pair. BTC saw a drop of 0.
The market seems set to end the weekend on a bearish note. At the time of press, most cryptocurrencies have slipped into the red zone and particularly for Bitcoin has dropped below the $8,000 position yet again.
Despite incurring some upwards momentum over the past couple of days, Bitcoin has continued to struggle to break above its current resistance levels that exist in the lower $8,000 region, and its lack of buying pressure could signal that further downwards pressure is imminent.
The crypto-winter brought the digital assets under tremendous pressure, with major coins losing most of their value. The bull run led by Bitcoin [BTC], recovered the altcoins’ market significantly.
Bitcoin has once again incurred a sudden influx of buying pressure that has allowed it to continue climbing higher after briefly dipping as low as $7,500 over the past couple of days. Although BTC’s surge back above $8,000 is certainly positive, it is still struggling to move higher as it faces strong selling pressure around.
By CCN: CipherBlade, a blockchain security research firm, has published the results of a lengthy investigation into the claims of a Coinomi user. How Were the Funds Truly Compromised? Warith Al Maawali contacted CCN and just about every news outlet he could find with the claim that because Coinomi had sent seed phrases to Google for spellchecking, he had lost his entire life savings.
The short and medium-term outlook is in consolidation. Patience is required for price to take a define direction. BCH/USD Medium-term Trend: Ranging Supply zones: $500, $600, $700 Demand zones: $100, $50, $30 BCHUSD outlook in the medium-term continues a range-bound-market.
Bitcoin and the entire crypto markets have faced increased selling pressure today after experiencing a short bout of sideways trading as BTC struggled to decisively move into the $8,000 region. Although today’s drop has slightly shifted the overall market sentiment for the worse, analysts are now noting that Bitcoin may be nearing a price at.
Summary:The bitcoin market is seeing some pullback as the monthly and weekly resistance level has proven to be a tough level to crack. On the daily level we can see a couple of attempts to break the level, but ultimately this was matched with strong selling pressure.
Bitcoin (BTC-USD) A downtrend is encountered in the last 24hrs which is confirmed by a symmetrical triangle pattern. The continuous appearance of a bearish regular divergence pattern is observed thus triggered a strong selling pressure from investors.
Bitcoin price is currently under pressure below the $7,800 support area against the US Dollar. The price declined recently and it is currently trading just above the $7,500 support area. There is a major declining channel in place with resistance at $8,000 on the hourly chart of the BTC/USD pair (data feed from Kraken).
Bitcoin price analysis shows BTC/USD returning above $8,000 was short lived. But is the dream of $9,000 now dead for the bulls in the near term? Let’s take a look. Bitcoin Price Analysis: Recap Today, ramped up selling pressure has extended Bitcoin’s distance from the psychological level by $200, leaving bullish traders fighting to defend the $7,800.
Ethereum Price Analysis Ethereum was among the best performing altcoins during “blockchain week” which took place last week with the biggest cryptocurrency conferences of the year taking place in New York.
This article was originally published by 8btc and written by Lylian Teng. Bitcoin ATM services in China have once again proved to be hopeless, after the first Bitcoin OTM (OTC Teller Machine) in Beijing was removed shortly after its installation.
Many countries in South America are struggling with economic frailty, with domestic fiat currencies of many falling in value under the pressure of inflation. Argentina has been one of these countries and it continues to struggle with a depreciating economy and high inflation.
The short and medium-term outlook is in the downtrend. Responsible selling at key areas with bearish reversal candlesticks formation as entry confirmation. BSV/USD Medium-term Trend: Bearish Supply zones: $90, $100, $120 Demand zones: $50, $40, $30 BSVUSD returns to a bearish trend in its medium-term outlook. The bulls sustained the pressure on price with a […]
Coinspeaker Bitcoin Price Analysis: BTC/USD May Break Down $7,812 and Target $7,440 LevelIn case the demand level of $7,812 holds Bitcoin price may bounce and resume its bullish trend which may break up the $8,233 and target $8,678 level.
TRON Price Analysis Last week was an extremely volatile week for most top cryptocurrencies. Tron recorded a low of $0. 021 and a high of $0. 0338 during the weeks trading. The price closed the weekly candle with a strong performance increasing 23% from open to close.
Bitcoin has been on the up-and-up for several weeks and is now once again nearing the $8,000 region despite facing increased selling pressure earlier this week. Despite BTC’s upwards momentum, the aggregated crypto markets have generally failed to outperform Bitcoin since it first began surging.
Despite facing increased levels of downwards pressure earlier this week that temporarily put Bitcoin’s upwards momentum in jeopardy, the cryptocurrency has been able to continue surging upwards and is now nearing the low-$8,000 region, which is the point at which BTC incurred significant selling pressure a few days ago.
Mid May Update: Technicals 4H RVNBTC RVN is in a trendless ranging (minor trend) hovering around a confluence point of Fib50 and MA50 on the 4 hour chart. One of our interpretations is that RVN just did a wave 2 of Elliot cycles and we are waiting for some pressure relief by bitcoin in the […]
The post Ravencoin (RVN) Price Prediction 2019 – 1k+ Sats Still In Prospect If Bitcoin Goes Sideways (May 19th Update) appeared first on CaptainAltcoin.
The markets have wrapped up a volatile week which saw the market leader Bitcoin record lows of $6180 and highs of $8390. XRP has spent the majority of 2019 consolidating around $0. 30. Numerous Doji candles at $0.
Despite briefly dropping below $7,000 earlier this week after incurring a sudden influx of selling pressure, Bitcoin has been able to hold steady above $7,000 and has since tepidly advanced higher.
Despite incurring a massive amount of buying pressure over the past several weeks that helped push the price of Bitcoin to fresh year-to-date highs around $8,400, this newfound upwards momentum stalled earlier this week when.
Our readers may be aware of the fact that stock markets all across the globe have been facing a lot of bearish pressure over the course of the past few weeks. However, despite all this, Bitcoin has continued its strong financial ascent — with the flagship cryptocoin recently breaking past its all-important $8K resistance barrier […]
The crypto markets incurred a significant amount of selling pressure late-yesterday that sent them reeling downwards, surrendering a decent portion of the recent gains they have incurred as a result of the massive rally that has been taking place since early-April.
Bitcoin (BTC) slide 10. 9 Percent Bitstamp flag a large sell order that caused a market imbalance, over-pricing BTC Not surprising, Bitcoin (BTC) prices are under pressure, dropping 10. 9 percent in the last day, at the time of writing.
Mark Mobius, co-founder of Mobius Capital Partners believes that bitcoin is becoming increasingly important in the international payments arena even as trade disputes exert more pressure on fiat currencies.
Stellar Lumens (XLM) rally, add 55. 6 percent The network failed for two hours on May-15 Stellar’s validator nodes “trust” the SDF nodes. Because of that, there was a failure, and the system couldn’t reach consensus for two hours on May-15.
San Francisco has set the record as the first US state to ban the use of facial recognition technology. Per a report on Engadget, May 14, 2019, the state made the decision in order to protect residents from the government’s constant surveillance.
Today’s Latest Ripple (XRP) News Updates and Analysis Well, the Ripple community and in particular, the XRP Army are ecstatic. Coinciding with the Stock Market slump, Trump decision to pump up the pressure on China and the rally of Bitcoin and other asset prices, Ripple (XRP) bulls are back. But, this hasn’t been the case […]
By CCN: NFL teams are getting pressure to pay their players in bitcoin, but so far they haven’t budged. It’s unclear why they would push back against a policy that would not only slash costs for the organization but would give NFL players an opportunity to begin saving and growing their earnings before retirement.
Bitcoin price failed to recover above $107,000. BTC is trimming gains and might could continue to move down if it trades below $102,500. Bitcoin started a fresh decline after it failed to clear $107,000.
Square, the payment services arm of Block, has launched its Bitcoin payment feature for small businesses, allowing them to accept BTC payments and manage their digital assets alongside traditional finances through its point-of-sale platform.
Eric Trump, son of US President Donald Trump and executive vice president of the Trump Organization, has revealed new bullish predictions for Bitcoin (BTC).
Bitcoin price is attempting to recover above $103,500. BTC could continue to move up if it clears the $106,500 resistance zone. Bitcoin started a decent recovery wave above the $103,500 support. The price is trading above $104,500 and the 100 hourly Simple moving average.
Bitcoin price is struggling below $105,000. BTC could continue to move down if it stays below the $104,200 resistance. Bitcoin started a fresh decline below the $104,000 support. The price is trading below $104,000 and the 100 hourly Simple moving average.
