Bitcoin Charts Hint At Price Pullback to Below $10K

View Bitcoin could fall below $10,000 this week as a strong sign of buyer exhaustion have emerged on the weekly chart in the form of “gravestone doji” candle. A bear cross of short-term moving averages and weakening buy pressure on the daily chart also suggest scope for a drop. The case for a price retreat into the four digits would weaken if bitcoin jumps above $12,450, invalidating a bearish pattern on the 4-hour chart. That would open the doors to a retest of the recent high of $13,880. With the…

Bitcoin Heading for Fifth Month of Gains Despite Price Correction

View Bitcoin is still on track to close with gains for the fifth straight month, despite having witnessed a double-digit technical correction in the last 36 hours. The hourly chart shows the pullback has ended and prices could revisit recent highs over the weekend. With a reward halving due in May 2020 and increased institutional participation, prices could rise further in the second half of this year. A break below the May 30 high of $9,097 would invalidate the bullish outlook as per the daily chart. While bitcoin’s price has…

Bitcoin Drops Below $12K After Biggest Daily Price Move Since January 2018

View Bitcoin’s price volatility, as represented by the daily trading range, jumped to a 17-month high on Wednesday. The cryptocurrency has dropped from $13,880 to $11,200 in the last 15 hours and could slide further to $10,000, according to the bearish setup on the hourly chart. A possible falling channel breakout on the hourly chart would open the doors to a retest of Wednesday’s high of $13,880. The outlook on the long duration charts remains bullish. Bitcoin is witnessing a technical correction a day after printing the biggest one-day trading…

Above $13K: Bitcoin’s Price Extends 2019 Gains to New 17-Month High

Bitcoin’s price has refreshed 17-month highs in the U.S. trading hours with a move above $13,000. CoinDesk’s Bitcoin Price Index is currently trading at 13,020, the highest level seen since mid-January 2018, having surpassed the Asian session high of $12,919 at roughly 17:30 UTC. With the rise above $13,000, bitcoin has taken the cumulative month-to-date gains to 50 percent and the cryptocurrency now looks set to log double-digit gains for the third straight month. Further, BTC is on track to end higher for the fifth straight month – the longest monthly…

Bitcoin Buying Pressure Hits 2-Month High as Price Tops $11.4K

View Bitcoin jumped to fresh 15-month highs near $11,430 on Bitstamp earlier today, invalidating a bearish divergence on the 4-hour chart. With a key indicator reporting the strongest buying pressure in over two months, prices appear on track to test resistances lined up at $11,688 (March 2018 high) and $11,780 (February 2018 high). Repeated failure to hold on to gains at the crucial Fibonacci retracement level of $11,394 could yield a price pullback to the 100-hour price average, currently at $10,667. The bullish outlook would be invalidated only if prices drop…

Bitcoin on Track for Best Second Quarter Price Gain on Record

View Bitcoin’s 165 percent gain so far this quarter is the best second quarter performance on record and the highest quarterly percentage gain since the end of 2017. The stellar gains have bolstered the long-term bullish technical setup. While the relative strength index is reporting overbought conditions, there are no signs of bullish exhaustion on the daily, 3-day or weekly charts. As a result, the outlook remains bullish with resistances lined up at $11,247 and $11,394, according to Bitstamp data. A minor pullback to $10,000 could be seen if the…

Bitcoin Price Tops $10K for First Time Since 2018

Bitcoin’s price soared above $10,000 on cryptocurrency exchanges for the first time in 15 months. The price hopped the $10K barrier at 7:35pm Eastern Time. At press time, the top cryptocurrency by market capitalization is trading at $$10,080.49 – the highest level since March 8, 2018 – representing month-to-date gains in excess of 13 percent, according to CoinDesk’s Bitcoin Price Index.  On a 24-hour basis, BTC is outshining most top 10 cryptocurrencies with 7 percent gains. The price rise is backed by a 12 percent jump in trading volumes. As per…

Bitcoin Price Eyes $10K After Erasing 40% of Bear Market Drop

View Bitcoin’s price has recovered 40 percent of the bear market drop. The breakout has bolstered the bullish setup on the weekly chart, which is currently reporting the strongest buying pressure in six months. As a result, BTC looks set to break above the psychological resistance of $10,000. The price has already rallied nearly 130 percent so far this quarter. Hence, a temporary correction due to bull exhaustion cannot be ruled out. The outlook, however, will remain bullish as long the price is held above recent lows near $7,500. Bitcoin’s (BTC)…

Bitcoin Price Rally Stalls as Open Futures Hit Record Highs

View The bitcoin price rally seems to have stalled near $9,300 with the price-volume analysis suggesting scope for a minor pullback to $9,000-$8,700. Record open interest in bitcoin futures listed on the Chicago Mercantile Exchange indicates a surge in institutional interest. So, pullbacks, if any, will likely be short-lived. The long-term technical charts indicate scope for a rally to $10,000 and above. Bitcoin (BTC) is struggling to find acceptance above $9,300 even as futures listed on the Chicago Mercantile Exchange (CME) are witnessing record open bets. The top cryptocurrency by…

Bitcoin’s Price Snaps Longest Daily Win Streak Since 2018

View Bitcoin fell 2.87 percent on Tuesday, ending the longest stretch of daily gains since July 2018. The long-term outlook, however, remains bullish with the 3-day chart calling a move to $10,000. On the way higher, BTC may face resistance at the key Fibonacci retracement level of $9,642. The hourly and 4-hour charts are reporting bearish indicator divergences. As a result, a correction to key support at $8,600 could be seen before a potential rally to $10,000. Bitcoin’s (BTC) price closed on a negative note on Tuesday, snapping the longest…