On July 8, the Bitcoin (BTC) price broke out from a descending channel that had been in place since June 1. However, the price has stalled around the breakout level, raising concerns for the possibility that the breakout was not legitimate and the price will soon reverse its trend. Bitcoin Channel Breakout The Bitcoin price […]
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On July 8, the Bitcoin (BTC) price broke out from a descending channel that has been in place since June 1. While there is a possibility that the price is following a bearish fractal that could soon initiate a sharp drop, the high volume on the breakout suggests that the move might be legitimate. Bitcoin […]
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Bitcoin expects to go through a shaky third-quarter on growing worries about a stock market correction. Citigroup sees the S&P 500 rally to drop by at least 10 percent from its current levels, with a worst-case scenario predicting a 20 percent or more decline for the US benchmark index. The monthly correlation between Bitcoin and […]
The Bitcoin (BTC) price has been decreasing since it reached a high of $9,379 on July 7. Today, it broke out from a descending wedge, but could not sustain the higher prices. Bitcoin Short-Term Breakout The hourly chart for BC reveals that the price has been decreasing since a high of $9,379 reached on July […]
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The Bitcoin (BTC) price increased considerably on July 6, creating a bullish engulfing candlestick with considerable volume. This caused the price to move all the way to an important resistance area, a breakout above which would be a major bullish development. Bitcoin’s Bullish Engulfing Candlestick On July 6, the Bitcoin price increased considerably, going from […]
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Data for Q2 2020 shows the cryptocurrency market thriving, with Ethereum leading a price rally and Bitcoin showing solid network activity following its last halving. Overall trading may have reduced, but the market has grown greatly since ‘Black Thursday.’ Cryptocurrency market data platform CoinGecko has published a new report that covers the progress the market […]
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The Bitcoin (BTC) price created its fourth successive bearish weekly candlestick during the week of June 29-July 6. However, on July 6, the price began a short-term upward move that is still ongoing. Bitcoin’s Resistance During the week of June 29-July 6, the Bitcoin price created a small bearish Doji candlestick. Measuring from the June […]
During the week of June 22-29, the Bitcoin price created a small bearish candlestick with wicks on both sides, slightly longer on the upper. This makes for the third bearish candlestick since the price was rejected by $10,380 on June 1, a sign that the upward trend has lost strength. Weekly Bitcoin Close Since creating […]
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