Bitcoin (BTC) Price Technical Bias Favors More Downsides

Bitcoin price is struggling to climb above the $11,500 and $11,600 resistances against the US Dollar. The price is holding the key $11,200 support, but it remains at a risk of more downsides. There are two key bearish trend lines forming with resistance near $11,400 and $11,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could decline heavily if there is a break below the $11,200 support area in the near term. Bitcoin price is showing bearish signs below $11,500 against the US Dollar.…

Bitcoin Price (BTC/USD) Could Hit $12.2K Amid Strong Technical Bias

Bitcoin price extended gains above the $11,500 and $11,700 resistances against the US Dollar. The price is currently correcting lower after trading close to the $12,000 resistance. There is a connecting bullish trend line forming with support near $11,540 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price remains in an uptrend and it could surpass $12,000 to test the $12,200 level. Bitcoin price is gaining bullish momentum above $11,500 against the US Dollar. BTC price might continue to climb higher towards $12,000 and $12,200…

Chainalysis Appoints Former FinCen Officer as Technical Counsel

Blockchain analysis firm Chainalysis has hired a former official from the United States Financial Crimes Enforcement Network and the Department of Justice as Chief Technical Counsel, according to a press release published on June 26 Chainalysis has appointed Michael Mosier as its new Chief Technical Counsel. Mosier will now be responsible for legal expertise of Chainalysis products such as data privacy and global anti-money laundering, sanctions, policy, and government issues. At Chainalysis, Mosier will work closely with Jesse Spiro, Global Head of Policy, who joined the firm from financial information services…

Analyst Says Bitcoin Could Hit $62K This Year Based on Technical Signals

Published: 19/06/2019 15:15 EST. Journalist: By CCN Markets: Bitcoin is flying high in 2019. The price of the flagship cryptocurrency is now well past the $9,000 level. But there are quite a few analysts out there who believe that bitcoin’s meteoric rise isn’t over yet. Galaxy, a well-followed crypto handle on Twitter, predicts that the price of bitcoin could hit all-time highs of $62,000 in about four months. Favorable Technicals Could Power Bitcoin Higher Galaxy is one of many bitcoin bulls counting on favorable technical patterns to sustain the price…

Bitcoin (BTC) Price Weekly Forecast: Technical Bias Signaling Fresh Increase

There was a sharp decline in bitcoin price after it spiked above the $9,000 level against the US Dollar. The price declined below the $8,600 support and tested the key $8,000 support area. There was a break below a major bullish trend line with support near $8,540 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair tested the $8,000 support area ad recently bounced back above $8,400 and $8,500. Bitcoin price recovered sharply after a major drop to $8,000 against the US Dollar. BTC is…

Key Bullish Technical Signal Predicts Bitcoin Price Is Approaching $12,000

By CCN: The minor bitcoin price rally which Bloomberg initially rejected as an April Fools’ joke has metamorphosized into a laughter riot. The world’s leading cryptocurrency has surged as much as 116.29% since its first notable breakout action of April 2. It established a fresh yearly high $8,947.88 this Monday in what now appears like a tireless bull run. There have been no signs of extreme pullbacks despite bitcoin’s overbought status. And every minor downside correction is influencing more speculators to enter the bitcoin market at a slightly lower intraday rate.…

Bitcoin Faces Price Correction Toward $7.6K, Technical Charts Suggest

View Bitcoin printed a 10-month high of $8,390 earlier today only to fall back quickly below $8,000, strengthening the bearish divergence of the 4-hour chart relative strength index (RSI). The daily RSI is also teasing bearish divergence. BTC risks falling to a potential double-top neckline at $7,619. A break lower would open the doors to sub-$7,000 levels (target as per the measured height method). The case for correction in the next day or two would weaken if the price rises back above $8,300. Bitcoin (BTC) could be in for a…

This Technical Indicator Predicts Bitcoin above $300K by 2021

The bitcoin price could discover new highs above $300,000 by 2021, according to a popular technical indicator. Dubbed as the Stochastic RSI, the indicator helps investors identify oversold and overbought conditions inside the market. It indicates a probable change in the direction of a price trend. GalaxyBTC, a pseudonymous cryptocurrency analyst, applied Stochastic RSI on the monthly bitcoin chart and compared the indicator’s past performance with the cryptocurrency’s price behavior. The analyst found that Stochastic RSI was recovering from its oversold conditions for the first time since October 2015. The last…

Technical Flags Scream ‘Buy!’ as Market Nears Key Level

Bitcoin continues to grind higher, and on Monday the flagship cryptocurrency hit its highest level in 2019. Many investors are stuck in the past looking at the wild volatility brought on by excessive speculation, and ignoring that right here right now, the Bitcoin price is showing maturity and stability – and could be primed for a major boom. Bloomberg reported that a popular technical indicator is now screaming buy after the last signal it generated prompted a 17% rally. Bitcoin’s GTI VERA Convergence Divergence Indicator is screaming “buy!” | Source:…

Key Technical Indicator Shows BTC Surging to $5,500

Throughout the past three months, the bitcoin price has flirted with the $4,200 resistance level, often struggling to maintain momentum above the key $4,000 mark. Several traders have demonstrated concerns over the extended period of stability demonstrated by bitcoin because, in late 2018, the cryptocurrency recorded a drop of around 50 percent following three months of stagnation in the $6,300 to $6,500 range. However, a cryptocurrency technical analyst known to the community as “Galaxy” has said that once bitcoin breaks out of a key resistance level above $4,000, it could…