Bitcoin Price Flirts with Breakout But May Not Yet Have Bottomed

The bitcoin price on Sunday surged as high as 7.28 percent against the US dollar ahead of the US session. The BTC/USD rate is trading at 4158-fiat at press time. The pair is almost completing the formation of an inverse head and shoulder pattern. Its neckline appears more like a near-term falling trendline, capping the strong upside movements lately. The latest jump in BTC/USD has affirmed what bulls are attempting to break at this point. Breaking above the neckline level sets up a run towards 4500-fiat. The resistance level is…

November Rout Leaves Crypto Prices Drowning in Sea of Red

It was not just the trees that shed their red leaves this November. The autumn was doing its job in the cryptocurrency market, too. The industry lost close to $70 billion worth of market capitalization this month, according to CoinMarketCap.com. Bitcoin, the world’s largest cryptocurrency, established an aggregated low at $3,606 after dropping from its monthly high at $6,540. That marks a 44.8% drop between the month’s peak and bottom level. Other top cryptocurrencies also didn’t fare well during the November bloodbath. XRP, for instance, noted a 40.4% drop between…