Bitcoin Crypto News

TA: Bitcoin Price Takes Hit, Why BTC Remains at Risk of More Losses

Bitcoin price started a fresh decline from the $24,250 resistance zone against the US Dollar. BTC declined below $23,000 and remains at a risk of more losses. Bitcoin started a fresh decline below the $23,500 support zone. The price is now trading below the $23,500 level and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $23,320 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $23,250 resistance to start a fresh increase in the near term. Bitcoin Price Breaks Support Bitcoin price struggled to gain pace above the $24,000 resistance zone. The price formed a top near $24,285 and started a fresh decline. There was a clear move below the $23,800 and $23,500 support levels. The bears pushed the pair below the 61.8% Fib retracement level of the upward move from the $22,846 swing low to $24,286 high. Besides, there was a break below a major bullish trend line with support near $23,320 on the hourly chart of the BTC/USD pair. Bitcoin price is now trading below the $23,500 level and the 100 hourly simple moving average. It is now consolidating above the key $22,650 support zone. Source: BTCUSD on TradingView.com On the upside, an immediate resistance is near the $23,250 level. The next key resistance is near the $23,500 zone. A close above the $23,500 resistance zone could start a steady increase. In the stated case, the price may perhaps rise clear the $24,000 resistance. Downside Break in BTC? If bitcoin fails to clear the $23,500 resistance zone, it could continue to mov down. An immediate support on the downside is near the $22,650 level. The next major support now sits near the $22,500 level. A close below the $22,500 level might start a move towards $22,000. If the bears remain in action, there is a risk of a move towards the $21,500 level in the coming sessions. Any more losses might send the price towards $20,500 level. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bearish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now well below the 50 level. Major Support Levels – $22,650, followed by $22,500. Major Resistance Levels – $23,250, $23,500 and $24,000.

Bitcoin Crypto News

TA: Bitcoin Price Holds Support, Why BTC Might Attempt Fresh Increase

Bitcoin price gained pace above the $23,500 resistance against the US Dollar. BTC could start a fresh increase if it stays above the $23,500 pivot level. Bitcoin started a decent increase above the $23,500 level. The price is now trading above the $23,500 level and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $23,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $24,000 resistance to start a fresh increase in the near term. Bitcoin Price Remains Supported Bitcoin price was stable above the $23,000 and $23,200 levels. The price formed a base above the $23,200 level and started a fresh increase. There was a clear move above the $23,500 resistance zone. The bulls were able to push the price above the $24,000 resistance zone and there was a close above the 100 hourly simple moving average. There was a spike above the $24,200 level. A high was formed near $24,285 and the price is now correcting lower. There was a break below the $24,000 level. Bitcoin price dipped below the 23.6% Fib retracement level of the upward move from the $22,845 swing low to $24,285 high. However, the price remained stable above the $23,600 level. There is also a key bullish trend line forming with support near $23,500 on the hourly chart of the BTC/USD pair. Source: BTCUSD on TradingView.com On the upside, an immediate resistance is near the $24,000 level. The next key resistance is near the $24,200 zone. A close above the $24,200 resistance zone could start a steady increase. In the stated case, the price may perhaps rise clear the $25,000 resistance. Downside Break in BTC? If bitcoin fails to clear the $24,000 resistance zone, it could start a downside correction. An immediate support on the downside is near the $23,600 level. The next major support now sits near the $23,500 level. It is near the 50% Fib retracement level of the upward move from the $22,845 swing low to $24,285 high. A close below the $23,500 level might start a move towards $23,000. Any more losses might send the price towards $22,500 level. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $23,600, followed by $23,500. Major Resistance Levels – $24,000, $24,200 and $24,500.

Bitcoin Crypto News Ethereum

Here’s Why Vitalik Buterin Believes Crypto Payments Will Become Mainstream

Crypto payments have become more popular, especially following the bull market run in 2021. There are now millions of merchants worldwide accepting cryptocurrency payments through direct and indirect integrations. Even big corporations have jumped on the bandwagon. Nevertheless, crypto payments still remain in their very early stages. There are still a good number of places […]

Bitcoin Uncategorized

What If Cardano Was On “Shark Tank”?, Billionaire Mark Cuban Voices His Opinion

Legendary investors and “Shark Tank” investors Mark Cuban recently gave an interview sharing his views on Bitcoin, Ethereum, Dogecoin, Cardano, and other projects in the space. Cuban is a controversial figure in some crypto communities due to his heated opinions on the projects that should receive investors’ attention and those that might be poised to […]

Bitcoin Crypto News

Hodlnaut Halts Customer Withdrawals, Becomes Latest Exchange To Plunge Into Crisis

Hodlnaut stopped offering exchange services on its platform on Monday, citing liquidity crisis and the need to discuss a recovery strategy with a legal advisory firm as the industry battles to survive in the wake of a collapse in the price of cryptocurrencies. Hodlnaut Latest To Halt Withdrawals Hodlnaut, a Singapore-based lending platform for crypto […]

Crypto News Ethereum

Ethereum Crosses $1,700, But Could Return To Path Of Pain, Expert Says

Ethereum (ETH) took off over the weekend and has extended its gains during today’s trading session. The second crypto by market cap could extend its gains, as “The Merge” becomes a certainty. Related Reading: Market Sentiment Holds Steady As Bitcoin Aims For $24,000 The event that will complete Ethereum’s transition from a Proof-of-Work (PoW) to a Proo-of-Stake (PoS) consensus algorithm, “The Merge” has been set for September 2022. One of the most expected dates in the crypto industry, market participants seem divided on its short-term implications. At the time of writing, ETH’s price trades at $1,770 with 3% and 5% profits over the last 24 hours and 7 days, respectively. As NewsBTC reported, $1,700 was a critical resistance zone for Ethereum as this level could provide more clues into ETH’s price direction. If the cryptocurrency manages to flip this resistance level into support, the current bullish momentum might be sustainable and trigger a fresh bull run. The opposite might happen at ETH’s price current levels, the market could see a bear assault with new strength. The above is based on an idea from Jarvis Labs looking at Ethereum’s 30-day returns, a metric used to measure the short-term profits and losses from crypto investors over that period. 3 weeks ago, this metric was trending toward 0% after moving in negative territory for a while. In the past, whenever Ethereum flip its 30-day returns into positive territory, above 0%, the cryptocurrency’s price traded to the downside for a long time. Thus, why it’s critical that ETH’s price reaches higher levels. Former Goldman Sachs employee Raoul Pal believes ETH’s price will return to a “path of pain”, in accordance with the theory explained above. Pal believes that market participants have been taking short positions expecting that ETH’s price fails to break above $2,000. Will Ethereum Fail To Break Above $2,000? These traders might be in for a surprise if Pal’s prediction is fulfilled as Ethereum could continue to trend upwards beyond expectations: (…) my view is the bigger battle is around $2300 and the trend channel. Usually, correction channels like this don’t break on first attempt and correct sharply into the range first, but that is something for few weeks time possibly. In that sense, Ethereum seems on route to fresh gains above key resistance levels, but traders should tread carefully as ETH’s price could re-test the lower channel of the following trend, as Pal said. This could place ETH’s price below its yearly lows at $900. Related Reading: Decentraland Blooms In Green In Last 4 Days; Boosts Traders’ Appetite In MANA If that happens, will ETH see long-term bearish pressure, or can “The Merge” push it into previous highs?

Altcoins Bitcoin

Top Crypto Strategist Issues Bitcoin Warning, Says BTC at Risk of Major Breakdown

A closely followed crypto analyst and trader is warning Bitcoin holders that BTC is about to flash a signal that could lead to the reversal of its recent uptrend. Crypto strategist Kevin Svenson tells his 112,300 Twitter followers that he’s keeping a close watch on BTC’s relative strength indicator (RSI) on the one-day chart. According […]

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Bitcoin Crypto News

TA: Bitcoin Price Could Rally If There Is A Close Above This Key Resistance

Bitcoin price remained supported above the $22,650 level against the US Dollar. BTC could rally if there is a clear move above the $23,500 resistance zone. Bitcoin is trading in a range above the $22,500 level the $23,500 level. The price is now trading above the $23,000 level and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $23,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $23,500 resistance to start a steady increase in the near term. Bitcoin Price Faces Key Barrier Bitcoin price remained above a major support zone near the $22,400 and $22,500 levels. The price started a decent increase above the $22,800 and $22,950 levels. The upward move was such that the price climbed above the $23,000 level and the 100 hourly simple moving average. The price surpassed the 50% Fib retracement level of the downward move from the $23,477 swing high to $22,755 low. Besides, there was a break above a key bearish trend line with resistance near $23,200 on the hourly chart of the BTC/USD pair. The pair is now trading near the $23,300 level. Source: BTCUSD on TradingView.com It is struggling near the 76.4% Fib retracement level of the downward move from the $23,477 swing high to $22,755 low. The next key resistance is near the $23,500 zone. A close above the $23,500 resistance zone could start a steady increase. In the stated case, the price may perhaps rise clear the $24,500 resistance. Downside Break in BTC? If bitcoin fails to clear the $23,500 resistance zone, it could start a downside correction. An immediate support on the downside is near the $23,100 level. The next major support now sits near the $22,750 level. A close below the $22,750 level might start a move towards $22,500. Any more losses might send the price towards $22,000 level. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $23,100, followed by $22,750. Major Resistance Levels – $23,500, $24,200 and $24,500.