Bitcoin dips 8% from highs as trader demands BTC bulls reclaim $37.5K

Bitcoin (BTC) climbed down from multi-day highs on Jan. 27 as the aftermath of the latest United States Federal Reserve meeting saw bulls taper their enthusiasm. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin disappoints below $37,500 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD walking back some of its gains, which had topped out at $38,950 on Bitstamp. The pair then refocused on $36,000, the level where it was trading at the time of writing. As momentum gathered pace, market commentators began hoping for a stronger weekly close, possibly…

Bitcoin Fails Near Key Zone, Can Bulls Save The Day

Bitcoin attempted a key upside break above the $38,500 resistance against the US Dollar. BTC failed to clear $38,500 and started a fresh decline. Bitcoin struggled to gain pace above the $38,200 and $38,500 resistance levels. The price is now trading below $37,000 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $37,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if the bulls are able to protect…

Ethereum bulls aim to flip $2.8K to support before calling a trend reversal

The dire predictions calling for the onset of an extended bear market may have been premature as prices appear to be in recovery mode on Jan. 26 following a signal from the U.S. Federal Reserve that interest rates will remain near 0% for the time being.  After the Fed announcement from, prices across the cryptocurrency market began to rise with Bitcoin (BTC) up 4.11% and making a strong push for $39,000. This sparked a wave of momentum that helped to lift a majority of tokens in the market, but at…

Bitcoin Eyes Steady Recovery, Why Bulls Might Struggle

Bitcoin started a recovery wave above $36,000 against the US Dollar. BTC must settle above the $38,000 zone to start a steady upward move. Bitcoin is trying to clear the $37,500 and $38,000 resistance levels. The price is now trading above $36,500 and the 100 hourly simple moving average. There is a key breakout pattern forming with resistance near $37,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a steady upward move if there is a clear move above the $38,000 resistance.…

Bitcoin falls to $36K, traders say bulls need a ‘Hail Mary’ to avoid a bear market

Bitcoin (BTC) price continues to sell-off and the knock-on effect is an even sharper correction in altcoins and DeFi tokens. At the time of writing, BTC price has sank to its lowest level in 6 months and most analysts are not optimistic about an immediate turn around.  Data from Cointelegraph Markets Pro and TradingView shows that a wave of selling that began late in the day on Jan. 20 continued into midday on Friday when BTC hit a low of $36,600. BTC/USDT 1-day chart. Source: TradingView Here’s a check-in with what analysts…

Bitcoin Dives Below $40K, Why Bulls Could Struggle In Near Term

Bitcoin started a strong decline from the $43,500 resistance against the US Dollar. BTC remains at a risk of more downsides below the $39,200 support. Bitcoin started a major decline after it failed to clear the $43,500 resistance. The price is still trading below $41,000 and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $42,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down if there is a break…

Bitcoin Price Starts Corrective Decrease, Can Bulls Protect Losses

Bitcoin extended increase above the $44,000 level against the US Dollar. BTC is correcting losses, but it might find support near the $42,000 support zone. Bitcoin climbed further higher above $44,000 before it faced sellers. The price is trading near $42,750 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $43,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is correcting gains, but dips could be limited below the $42,000 level. Bitcoin Price…

Bulls Stampede Toward $12K Bitcoin Price as Weekly Close Approaches

Bitcoin price is making a strong push toward $12,000 with just 24-hours before the weekly close occurs Despite multiple rejections at the $12K mark, BTC continues to make higher lows and traders are buying dips at underlying support levels Chainlink reached a new all-time high at $19.80 and Ether is struggling to push above $430 Cryptocurrency daily market performance snapshot. Source: Coin360 Typically, for Bitcoin (BTC), weekends are marked by reduced trading volume as day traders take a break and the CME Bitcoin markets are closed.  Experienced traders will also…

Unexpected Factor That Suppressed Bitcoin Bulls in 2019 Is Now Gone

If you’ve been involved in the Bitcoin market over the past year, you know of PlusToken. PlusToken was a Ponzi scheme with a focus on the Asian cryptocurrency space that was active in 2019. In offering depositors of Bitcoin, Ethereum, EOS and other cryptocurrencies high levels of interest, the operators of the scam managed to garner billions worth of assets. Per some reports, the scam held upwards of $3 billion worth of largely BTC and ETH at its peak. Related Reading: Crypto Tidbits: Ethereum Surges 20%, US Banks Can Hold Bitcoin,…

Can Bulls Save The Day?

Bitcoin is struggling to stay above the $11,200 resistance level against the US Dollar. BTC is currently correcting lower and it could continue to move down towards $10,700. Bitcoin is slowly moving lower after forming an intraday high near the $11,349 level. A couple of back-to-back candles suggest that the price might continue lower towards $10,700. There was a break below a key bullish trend line with support near $11,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must stay above the $10,700 support…