Cryptocurrencies / Page 21

Technical Analysis – BTCUSD rangebound but downside risks remain

Posted on June 10, 2022 at 7:53 am GMT

BTCUSD has been trading within a tight range during the past month, unable to adopt a clear direction. However, the descending 50- and 200-day simple moving averages (SMAs) are painting a gloomy technical picture for the cryptocurrency. The short-term oscillators also indicate a cautiously bearish near-term bias. Specifically, the RSI is dipping beneath its 50-neutral threshold, while the MACD histogram has crossed above its red signal line but remains in the negative territory. Should selling interest intensify, 29,200 could act as [..]

Bitcoin fails to escape tight range ahead of US CPI – Cryptocurrency News

Posted on June 7, 2022 at 10:02 am GMT

Bitcoin ended last week on a positive note, snapping its record losing streak of nine weeks. However, the bulls failed to capitalize on that development and the price has dived again beneath the $30,000 psychological mark, extending its sideways pattern. Many investors suggest that major cryptocurrencies experienced a relief rally and might eventually resume their downtrend, while others point out that the market could be approaching its bottom. Therefore, the latest US CPI report awaited on Friday, could shed some light [..]

Technical Analysis – BTCUSD exits tight range but risks remain

Posted on June 1, 2022 at 12:59 pm GMT

BTCUSD (Bitcoin) returned to a consolidation mode near $31,500 after Monday’s dynamic bullish breakout pushed the price out of the two-week-old tight range and above the 20-day simple moving average (SMA). Although the positive adjustment in the neutral structure looks promising, the technical indicators keep feeding some pessimism. The RSI has returned to its 50 neutral mark after barely climbing above it, while the MACD is still within the negative zone despite improving above its red signal line. Meanwhile, the [..]

Bitcoin reclaims $30,000 mark amid increasing positive correlation with stock indices – Cryptocurrency News

Posted on May 30, 2022 at 2:34 pm GMT

Bitcoin has kicked-off the week on the front foot, dragging most major altcoins higher and catching up with the stock markets’ latest rally, despite the recent decoupling between digital assets and the major US indices. Nevertheless, the king of cryptocurrencies had an extended record-breaking losing streak, recording nine consecutive weekly losses, while it is currently trading more than 50% beneath its all-time high. Therefore, even if some positive signs have emerged after the bulls managed to recapture the $30,000 psychological level, the road [..]

Technical Analysis – BTCUSD extends sideways move but downside risks linger

Posted on May 26, 2022 at 1:45 pm GMT

BTCUSD has been trading within a tight range during the past week, with the decline in volatility probably hinting that traders are scrutinizing the current market conditions to decide the future price direction. Nevertheless, the short-term oscillators indicate a bearish near-term bias. Specifically, the RSI is dipping near the oversold zone, while the MACD histogram has crossed above its red signal line but remains in the negative territory. Should selling interest intensify, the price could descend towards 27,950, which is [..]

Bitcoin hovers near $30,000 as sentiment for risky assets deteriorates – Cryptocurrency News

Posted on May 25, 2022 at 11:13 am GMT

Bitcoin has delivered its eighth consecutive weekly loss for the first time in history, currently trading in a tight range around the $30,000 psychological mark, which is more than 50% down from its all-time peak. The sustained downtrend could be attributed to a barrage of emerging headwinds such as the negative macroeconomic environment for risky assets, inflation and growth concerns, alongside idiosyncratic risks stemming from within the crypto industry. Heading further into 2022, Bitcoin and the broader crypto market seem [..]

Bitcoin fluctuates near $30,000 as sell-off eases, but downside risks linger – Cryptocurrency News

Posted on May 16, 2022 at 2:23 pm GMT

Even though the tremendous downside pressures in the crypto space have eased in the last couple of days, Bitcoin has not managed to profoundly cross above $30,000 as investors remain cautious about the risks surrounding digital currencies since Terra’s devastating crash. On top of that, increasing fears that the Fed will be forced to slam the brakes harder on the US economy coupled with the global ending of the ‘easy money’ era seem to be substantial factors that are driving crypto prices [..]

Technical Analysis – BTCUSD falls without a parachute

Posted on May 12, 2022 at 8:08 am GMT

BTCUSD has come under tremendous selling pressure in the past few daily sessions, generating a fresh 16-month low. Overall, the technical picture has started to deteriorate, with a series of lower lows and lower highs forming on the daily chart. The momentum indicators further confirm the bearish near-term bias. The RSI is dipping downwards in the oversold area, while the MACD histogram is currently beneath both zero and its red signal line. Should negative momentum intensify, the price could generate fresh [..]

Technical Analysis – BTCUSD seems unable to escape from tight range

Posted on May 5, 2022 at 1:17 pm GMT

BTCUSD (Bitcoin) has been declining in the short-term after its advance paused at the 48,350 region. Nevertheless, the largest cryptocurrency by market capitalization has been trading sideways in the past few sessions, with its technical picture providing mixed signals. The short-term oscillators suggest a cautiously positive near-term bias. Specifically, the MACD histogram has jumped above its red signal line but remains in the negative region, while the RSI’s ascent failed to cross beyond the 50-neutral mark. Should positive momentum intensify, the price [..]

Bitcoin capped below $40,000 but Fed could infuse downside pressure – Cryptocurrency News

Posted on May 4, 2022 at 3:09 pm GMT

Bitcoin and most altcoins have struggled during the first months of 2022 as central banks’ monetary tightening has been squeezing most assets across the board. After a vast sell-off in April, major cryptocurrencies have adopted a rangebound pattern as investors eagerly await the Fed’s decision on benchmark interest rates on Wednesday, as well as its forward guidance regarding its balance sheet reduction. Therefore, in a period when Bitcoin’s correlation with the US stock indices remains near its all-time-high levels, will [..]

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