The new weekly and monthly Bitcoin price candle kicked off with a powerful move to the upside, but yesterday was rejected with force.
Although it is extremely early in each trading session, the recent price action has left behind a Shooting Star doji on weekly and monthly timeframes, which could signal that a larger correction is inevitable.
Early Session Bullish Advance Rejected Back Down By Bears
Over the last three months, Bitcoin has climbed from lows set on Black Thursday at $3,800 to as high as $10,400. Despite over an over 150% climb, the leading cryptocurrency by market cap continues to struggle with resistance above $10,500.
After Sunday night’s important weekly and monthly close – which arguably closed bullish – Bitcoin price surged to over $10,000 in an over $600 move that took less than one hour to play out.
Related Reading | Bitcoin Price Flash Crashes $600 In Less Than 5 Minutes, Last Night’s Rally Erased
However, the first-ever cryptocurrency failed to hold above $10,000 yet again, and price fell back to $9,300 in a five-minute-long flash crash.
The daily price candle closed just shy of a bearish engulfing candle, giving bulls hope that the rally isn’t completely over.
Bitcoin Shooting Star Doji On Weekly and Monthly May Signal Inevitable Correction
However, a correction may still be imminent, as the weekly and monthly candles have since formed a Shooting Star doji.
The monthly trading session has only just begun, so it is unlikely that after nearly 30 full days of price action that Bitcoin will still be trading at $9,500.
The same type of doji is visible on weekly timeframes as well, and with just four days remaining in this week’s trading session, a close at this level becomes a lot more probable.
According to Investopedia, a close with a Shooting Star doji after an advance is often a sign that the rally is about to turn around.
This type of Japanese candlestick formation is a bearish signal, as it shows that although a strong push from bulls caused prices to spike, sellers took control and pushed the asset’s price back down to where the session opened.
Traders are advised to wait to see what happens during the following trading session before taking a position.
Occasionally, Shooting Star doji can give a false signal and instead is a sign that the asset simply met strong resistance before the advance continued.
Prior to the current Shooting Star doji, two additional matching weekly candlesticks triggered on the way up toward $10,000. With the two first Shooting Star doji acting as false signals, will this third time be the charm?
It’s possible, especially considering that the highly accurate TD Sequential indicator also triggered a “9” sell setup on the same weekly candle that is currently forming a Shooting Star doji. origin »
The Bitcoin (BTC) price reached a close of $9448 for the month of May, which was the highest close since August 2019. However, the price is still facing considerable diagonal resistance and horizontal resistances in the weekly time-frame.
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Yesterday, Bitcoin price collapsed from a high of $9,300 to a low of $8,650 just ahead of an important weekly close. The selloff, according to data, was primarily driven by spot markets, specifically the popular cryptocurrency exchange Coinbase.
After rallying 5% from the weekly lows, the Bitcoin bull trend has petered out once again. This weakness culminated in a drop below $9,000 just minutes ago, marking the lowest price BTC has traded at in approximately three days.
Bitcoin failed to climb above the $9,950 and $10,000 resistance levels against the US Dollar. BTC price is currently plunging and it is now vulnerable to more losses below $9,400. Bitcoin is down more than 3% from the weekly high and it is now showing bearish signs.
The Bitcoin (BTC) price has created a weekly bullish engulfing candlestick and moved above a long-term descending resistance line. Weekly Bitcoin Outlook In the weekly chart, the price of Bitcoin (BTC) followed a doji from the previous week by creating a bullish engulfing candlestick.
Another week, another round of Crypto Tidbits. Bitcoin has seen quite the tumultuous week, The cryptocurrency started off the week with a bang, collapsing from ~$9,700, the weekly open price, to a low of $8,100, in a dramatic sell-off that liquidated over $200 million worth of long positions on BitMEX and hundreds of millions of more...
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Ethereum is showing signs of an upside correction from the $176 low against the US Dollar. However, ETH price is likely to face a major resistance near $195 and the 100 hourly SMA. Ethereum extended its decline and traded to a new weekly low at $176.
So far, 2020 has been a tumultuous year for Bitcoin with the price heading close to $15,000. Since this point, the price has been on a rocky journey, visiting the $3,000 level, hitting $10,000, and diThe post Bitcoin's critical rejection on a weekly time frame indicates sub-$7,000 soon appeared first on AMBCrypto.
On March 23, the Digibyte (DGB) price reached a low of 52 satoshis. It immediately began an upward move which is still ongoing. To date, the price has increased by 462% since. Using the weekly chart, we can see that the upward move was preceded by a very significant bullish divergence in the RSI, which […]
The post How Long Will Digibyte Continue to Pump? appeared first on BeInCrypto.
Bitcoin price just made another cross on the $9,000 level, with weekly bars showing the bulls are in control. However, according to a bigtime gold investor and BTC detractor, Peter Schiff, BTC’s future after the halving remains bleak.
Hxro is a cryptocurrency platform that offers a simplified way to interact with the market, giving traders an alternative way to express a view on price, hedge risk, and trade digital assets. Sign up to get the Hxro Weekly delivered directly to your mailbox.
The Bitcoin (BTC) price increased considerably during the week of April 27-May 4, creating a weekly bullish engulfing candlestick. However, the price failed to confirm a breakout above a key resistance level.
During the week of April 20-27, the Bitcoin (BTC) price created its sixth successive bullish weekly candlestick. The price increased from a low of $6,751 to a high of $7,738 before reaching a close at $7,693, very close to the weekly high.
Yes, the price of Bitcoin may have stalled over the past three days, stagnating around $7,500, but the cryptocurrency is still decisively bullish from a macro perspective, analysts say. In fact, should BTC close the weekly candle above $7,100 in approximately seven hours as of this article’s writing, this will be the sixth — yes, […]
The post Analyst: this statistical model says there’s a 75% chance Bitcoin rallies even higher next week appeared first on CryptoSlate.
During the week of April 20-27, the Bitcoin (BTC) price increased considerably — going from a low of $6751 to a high of $7738. This was the sixth bullish weekly candlestick in a row. This is the largest number of successive bullish weekly candlesticks since April and May 2019, when the Bitcoin price created seven […]
The post Bitcoin Bullish After Completing Sixth Straight Weekly Green Candlestick appeared first on BeInCrypto.
Bitcoin price just exploded, setting a new higher high following last month’s plummet to below $4,000. Is this the start of a new bull market as the halving looms closer? Weekly candlesticks suggest that an explosive impulse upward is likely to occur, potentially making for the perfect pre-halving set up for a massive rally. Bitcoin...
During the week of April 13-20, the Bitcoin (BTC) price reached a weekly close of $7120. This was the highest weekly close since the rapid decrease on March 12. Weekly Outlook In the weekly time-frame, the Bitcoin price has finally reached a close above the $6900 area — something it had been unsuccessfully trying to […]
The post What Does Bitcoin’s Bullish Weekly Close Indicate for the Future? appeared first on BeInCrypto.
The Bitcoin Options market will see a large weekly expiration on 10 April. According to data provided by Skew, 11. 5k BTC options were executed which might have influenced the spot price. Bitcoin was aThe post Bitcoin Options contract of 11.
Over a week into April, most altcoins are continuing to perform favorably. In fact, recovering from the price crash in March, altcoins such as Bitcoin Cash, Dogecoin, and Steem were among the ones to The post Bitcoin Cash's halving overshadows 18% weekly surge as Dogecoin, Steem trail appeared first on AMBCrypto.
On March 12, the Bitcoin price began a rapid decrease and reached a low of $3,850 the next day. However, it proceeded to move upward and reached a weekly close above the 200-week moving average (MA).
With sentiment continuing to be a significant factor in the price and momentum of digital assets, Brave New Coin's weekly Bitcoin ‘Twitter Sentiment’ infographic provides at-a-glance insight into the dominant weekly narrative in Bitcoin’s Twitter-sphere.
With sentiment continuing to be a significant factor in the price and momentum of digital assets, Brave New Coin's weekly Bitcoin ‘Twitter Sentiment’ infographic provides at-a-glance insight into the dominant weekly narrative in Bitcoin’s Twitter-sphere.
On March 13, the Bitcoin price reached a low of $3,875 and immediately bounced upwards to reach successive weekly closes above $5,000. These higher closes allow for the outline of a support line that suggests the price will gradually increase.
With sentiment continuing to be a significant factor in the price and momentum of digital assets, Brave New Coin's weekly Bitcoin ‘Twitter Sentiment’ infographic provides at-a-glance insight into the dominant weekly narrative in Bitcoin’s Twitter-sphere.
During the week of March 16-23, the Bitcoin price increased significantly, at one point reaching a high of $6,900. However, it decreased considerably over the weekend. Since the price failed to reclaim this important resistance area, this week’s movement will likely see a bearish re-test of support, rather than the beginning of an upward move.
Bitcoin is now recovering from coronavirus infection, Coronavirus hit hard on Bitcoin and traditional markets, when btc price dropped by 40% in single day on 12th March. Bitcoin Bulls have shown nice buying momentum last week, and btc price bounced from 4500$ and retested 7100$(Bitstamp).
The Bitcoin price began a rapid decrease on March 19, at one point increasing by 22% from its low of $5,252. The price has continued its increase today, reaching a high of $6,900. Well-known trader @CryptoCred posted a Bitcoin chart stating that the price is trading inside a very significant weekly time-frame area, with support […]
The post The Bitcoin Price Has Reclaimed an Important High Time-Frame Support appeared first on BeInCrypto.
Bitcoin resumed its roller-coaster rally even as the worsening Coronovirus pandemic discouraged investors from holding risky assets. The benchmark cryptocurrency jumped 29. 11 percent in the last 24 hours, hitting a new weekly high of $6,900 on Coinbase.
Coinspeaker Bitcoin Price Rises More Than 11% to $5,800 while Hash Rate DecreasesSince the day's beginning, Bitcoin price gained slowly, setting the 35% record on a weekly scale. On March 19, Bitcoin gains more than 10%, setting a positive trend for the market.
With sentiment continuing to be a significant factor in the price and momentum of digital assets, Brave New Coin's weekly Bitcoin ‘Twitter Sentiment’ infographic provides at-a-glance insight into the dominant weekly narrative in Bitcoin’s Twitter-sphere.
Over the week of March 8-15, the Bitcoin price fluctuated wildly, reaching a high of $8,245 and a low of $4,000. The closing prices were 32% lower than the opening. The price reached a weekly close right at its 200-week moving average.
Bitcoin price dropped from 8000$ to 3800$ last week, but recovered later to 5900$, and closed the last week candle at 5300$. Bitcoin also lost important price support of 5500$, which was 200MA weekly support.
Bitcoin really hasn’t done too well over the past few days; since the $9,200 peak seen on Saturday, the price of the cryptocurrency crashed as low as $3,800, marking a more-than-50% crash from the weekly high.
Bitcoin really hasn’t done too well over the past few days; since the $9,200 peak seen on Saturday, the price of the cryptocurrency crashed as low as $3,800, marking a more-than-50% crash from the weekly high.
A day before the market went into a full-on panic mode because of Bitcoin price crashing nearly 45%, BitMEX CEO Arthur Hayes published a regular note on March 12th on his exchange where he talks about how despite trading below $8,000 Bitcoin outperformed most global equity indices in 2020. But not anymore. The world’s leading […]
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.
