Building The Case That The Bitcoin Bottom Is In

Bitcoin price is back at $37,000, recovering from a frightening plunge to as low as $30,000. The selloff struck fear into the market unlike never before, making buying the dip a scary risk to take. However, there’s several signs that the bottom could be in, all while sentiment has turned fully bearish and the market expects far deeper lows. Could that in and of itself be a sign the bottom is in? Recapping The Recent Crypto Market Correction The recent peak in Bitcoin price was a “top” that very few…

Ethereum Faces Hurdles, Here’s What Could Trigger Strong Recovery

Ethereum extended its decline and traded close to the $1,700 zone against the US Dollar. ETH price is recovering, but it is facing a strong resistance near $2,200. Ethereum extended its decline below the $2,000 and $1,800 support levels. The price is well below the $2,500 level and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $2,200 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear $2,200 and $2,400 to start a decent recovery in the…

Here’s Why BTC Could Struggle To Surpass $37K

Bitcoin price tested the $30,000 support and it is now recovering higher against the US Dollar. BTC is likely to face a strong selling interest near $37,000 and $38,000. Bitcoin extended its decline and it even traded close to the $30,000 support. The price is now well below the $38,000 resistance and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $37,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to face a strong…