Bitcoin (BTC) Price Diving, Gates To $7,400 Now Wide Open

Bitcoin price is diving and it recently broke the $8,000 support area against the US Dollar. The price is under a lot of pressure and recently traded to a new monthly low at $7,828. Morning’s bearish flag pattern was breached with support near $8,080 on the hourly chart of the BTC/USD pair (data feed from Kraken). The next key target for the bears could be $7,400 (as discussed in the recent medium term outlook). Bitcoin price is gaining bearish momentum below $8,000 against the US Dollar. More importantly, there is…

Bitcoin (BTC) Price Hesitates But Further Downsides Seem Likely

Bitcoin price is consolidating losses above the $8,000 support area against the US Dollar. The price is likely to struggle near the $8,150 and $8,220 resistance levels. There is a key rising channel or a bearish flag pattern forming with support near $8,060 on the hourly chart of the BTC/USD pair (data feed from Kraken). An upside correction towards the $8,220 and $8,280 levels could face a solid selling interest. Bitcoin price is consolidating losses with corrective moves against the US Dollar. However, BTC remains sell on rallies if it…

Bitcoin (BTC) Price Primed For Breakdown Below $8K

Bitcoin price is extending its decline below the $8,250 resistance area against the US Dollar. The price is likely to decline below the $8,000 and $7,800 support levels in the near term. There is a major bearish trend line forming with resistance near $8,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). There are many bearish signs on the chart, suggesting a drop below $8,000. Bitcoin price is facing an uphill task near $8,200 and $8,400 against the US Dollar. Therefore, BTC is likely to decline…

Ethereum (ETH) Price Weekly Forecast: Crucial Support At Risk

ETH price is facing a strong resistance near the $184 and $185 levels against the US Dollar. The price is trading above the key $178 support, which remains at a risk. There is a crucial bearish trend line forming with resistance near $186 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair is currently declining and it might struggle to clear the $178 and $176 support levels. Ethereum price is showing bearish signs below $185 against the US Dollar, similar to bitcoin. ETH price remains at a…

Ripple (XRP) Price Primed For Additional Losses, $0.2450 Next?

Ripple price is following a downtrend below the $0.2700 support area against the US dollar. The price is currently trading near the $0.2620 support and it could continue to decline. This week’s crucial bearish trend line is active with resistance near $0.2700 on the hourly chart of the XRP/USD pair (data source from Kraken). Similarly, Ethereum is trading near a key support and it could break down below $180. Ripple price is trading with a bearish bias below $0.2700 against the US Dollar, similar to bitcoin. XRP price remains at…

Bitcoin (BTC) Price Looks Set For Another Breakdown

Bitcoin price is extending losses and it traded below the $8,640 support against the US Dollar. The price is likely to decline further below the $8,560 and $8,500 support levels. Morning’s short term breakout pattern was breached with support near $8,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The current price action suggests another breakdown below the $8,550 support area. Bitcoin price is declining below key supports against the US Dollar. BTC might tumble towards $8,300 or $8,200 once the bears clear the $8,550 and…

Bitcoin Hovers Near Price Support as Long-Term Bear Cross Looms

View BTC is on the defensive and may face selling pressure in the run up to the bearish crossover of the 100- and 200-day averages. Prices will likely breach the 50-day average support near $8,550 and extend losses toward $8,000 in the short term. Confirmation of the bear cross may mark an interim bottom in BTC, according to historical data. A high-volume move above a three-month descending trendline, currently at $9,200, is needed to revive the bullish view. Bitcoin risks falling below key support near $8,550, with a widely followed bitcoin…

VeChain Price Surges 120% After Chinese Newspaper Mentions the Crypto

China’s largest newspaper refers to crypto asset VeChain as integral in the “From French Farms to Chinese Plates” food safety initiative. In a continuation of pro-blockchain sentiment, the People’s Daily publicize how blockchain is helping to restore consumer confidence in China’s food industry. Food Scandals In China The Chinese food industry is suffering a crisis of confidence. And scandal after scandal continues to highlight the weak controls in place that fail to protect the public. Perhaps the most internationally recognized story relates to melamine found in baby milk powders in…

Bitcoin (BTC) Price Eyeing Fresh Monthly Low Below $8.5K

Bitcoin price is trading in a downtrend below $8,800 and $9,000 against the US Dollar. The price is currently declining and it seems to be struggling near the $8,840 level. Yesterday’s major bearish trend line is active with resistance near $8,920 on the hourly chart of the BTC/USD pair (data feed from Kraken). The bulls need to push the price above $8,840 and $8,920 to start a decent recovery. Bitcoin price is struggling to gain ground above $8,800 against the US Dollar. Recently, BTC traded as low as $8,560 and…