Bitcoin Price Watch: BTC/USD Trading Near Major Inflection Point

Key Points Bitcoin price declined further and traded below the $6,440 support against the US Dollar. Yesterday’s highlighted key bullish trend line with support at $6,445 was breached on the hourly chart of the BTC/USD pair (data feed from Kraken). The price tested the next important support at $6,375 and later started consolidating losses. Bitcoin price failed to stay above the $6,440 support against the US Dollar. BTC/USD is currently consolidating above the $6,375 support with bearish moves. Bitcoin Price Analysis Recently, bitcoin price started a downside correction and traded…

Price Eyeing Bearish Reversal from 100-Period SMA

Twitter Facebook LinkedIn The bitcoin-to-dollar exchange rate has dipped close to 1 percent on Thursday, now trading at 6470-fiat. The outcome of the US midterm elections with Democrats sweeping a sharp win in the House had certainly shaken the US dollar yesterday. The greenback nevertheless sustained its overall bullish momentum ahead of the Federal Reserve policy meeting today. It looks to hold on to its crucial supports owing to optimistic wage, price, and labor market data. Bitcoin, at the same time, could find it difficult to push through its critical…

Bitcoin Cash Price Analysis: BCH/USD Consolidating Near Key Support

Key Points Bitcoin cash price traded as high as $637 and later corrected lower against the US Dollar. There was a break below a key bullish trend line with support at $605 on the hourly chart of the BCH/USD pair (data feed from Kraken). The pair is currently trading near a major support at $575 and the 100 hourly simple moving average. Bitcoin cash price started a downside correction from the $640 swing high against the US Dollar. BCH/USD is currently consolidating near $575 and it could bounce back. Bitcoin…

Price Above $6500 Resistance post US Midterm Elections

Twitter Facebook LinkedIn Bitcoin on Wednesday challenged new highs as price against the US Dollar surged 1.42 percent within a few hours. CHART FROM TUESDAY NOVEMBER 7, 2018 | SOURCE: TRADINGVIEW.COM The BTC/USD pair built upon the near-term bullish scenario after breaking above the interim resistance explained in our previous analysis. A breakout action above 6421-fiat started attracting long positions towards 6500-fiat as the primary upside target. The pair rallied and established a new intraday high towards 6515-fiat before retreating across the exchanges. It is now trading at 6507-fiat. The…

Why An SEC Announcement Is What Stands Between Bitcoin (BTC) and a $7,200 Price Value

From the onset of this article, I would like to let the reader know that I am not a Technical Analysis expert. Any further opinion in this piece is based purely on fundamentals and observations. Therefore, looking at the performance of BTC since the expiration of last month’s CME Bitcoin Futures contracts on the 26th of October, we can easily tell that it has a price momentum of moving past the $6,600 level experienced by some traders only a few hours ago. Effect of BTC Futures Traditionally, whenever Bitcoin futures…

Just a Ripple? XRP Price Hits One-Month High But Eyes Correction

Twitter Facebook LinkedIn Ripple (XRP) on Tuesday established a bullish setup after rising more than 10 percent against the US dollar. The pair broke above the October peak to set a new one-month high at 0.569-fiat. It was previously stuck in a narrow trading range for multiple weeks amidst lower volatility. While the lack of bias-defining price action is itself not significant, the absence of solid bullish momentum, coupled with failed rally attempts of the recent weeks, confirms XRP’s overall downtrend. The latest rally marks the asset’s latest attempt to break…

XRP Nears 50 Cents as Price Rises to One-Month Highs

The price of XRP, the world’s third-largest cryptocurrency by market capitalization, jumped 6 percent on Monday, to reach its highest total in 30 days, according to CoinDesk data. At 15:01 UTC, the cryptocurrency rose to $0.49 cents for the first time since Oct. 8, and was last seen trading at $0.4950, marking roughly a 6.14 percent increase since the day’s open. At press time, XRP is the biggest winner among the top 10 cryptocurrencies by market capitalization, reporting a seven-day gain of 11.13 percent, according to data from CoinMarketCap. XRP’s market…

Only 19% Chance Bitcoin Price Breaches $10,000 by Q2 2019

Twitter Facebook LinkedIn A drop in the bitcoin price’s daily moves has lowered the market’s expectations of reclaiming a five-figure valuation anytime soon. Options Traders Not Bullish on Bitcoin Skew — a crypto analysis blog authored by two London-based derivative traders — claimed that bitcoin has only a 19 percent chance of breaching the $10,000-mark by June 2019. The report rested their analysis on the expected outcomes of bitcoin futures that are expiring by the third week of the last Q3 month, explaining that the volatility embedded in the price of…

Bitcoin Price Broaches New Weekly High But Slips into Bearish Correction

Twitter Facebook LinkedIn On Monday, bitcoin underwent a bearish correction after establishing a new weekly high at 6440-fiat, falling close to 0.8 percent. Bitcoin Hits Weekly High The BTC/USD pair is trading in a bull trend above the 200-period simple moving average on hourly charts. The big move yesterday seems to have appeared more because of Tether, whose USDT token lost its dollar-peg once again, and its holders started jumping towards other coins. Prior to that, the BTC/USD pair was already pursuing a stable uptrend on near-term charts, albeit with…

Bitcoin Price Intraday Analysis: BTC/USD in Breakout Action

Twitter Facebook LinkedIn Bitcoin on Sunday jumped 2.13 percent against the US Dollar as USD-pegged cryptocurrency tether (USDT) resumed its implosion. BTC/USD was in a sideways sentiment for most of the weekend trading session. The bearish trendline has capped the upside bias on multiple occasions. Nevertheless, the pair — from the past 8 hou rs to the time of this writing — has persuaded a successful breakout action, breaking the cap mentioned above and forming new intraday highs towards 6464-fiat. At the same time, CoinMarketCap.com is showing a massive drop…