Archive | bitcoin analysis

Tether has $3 Billion Daily Volume 76% Higher Than Ethereum, Bad Market Condition

Tether, better known for its ticker USDT, is a cryptocurrency whose value is hedged to that of the US dollar. As of June, the daily trading volume of Tether remains above $3 billion, 7 percent higher than the volume of Ethereum. Merely months ago, Ethereum had the second highest daily trading volume at around $3… […]

Bitcoin Price Weekly Analysis: BTC/USD Bearish Below $6,000

Key Points Bitcoin price is currently trading in a bearish zone below the $6,250 support against the US Dollar. There is a crucial bearish trend line formed with resistance near $6,400 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is currently trading below the $6,000 level and it could… […]

Bitcoin Price Watch: BTC/USD Turned Bearish?

Key Points Bitcoin price failed to hold gains and broke a major support at $6,700 against the US Dollar. Yesterday’s discussed important contracting triangle was broken with support at $6,720 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently trading below $6,680 and 100 hourly simple moving average,… […]

Bitcoin Price Watch: BTC/USD Approaching Key Break

Key Points Bitcoin price found support near the $6,620 level and recovered well against the US Dollar. There is a key contracting triangle formed with support at $6,700 and resistance near $6,780 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely approaching the next break either above $6,800… […]

Bitcoin Price Watch: BTC/USD Testing Crucial Support

Key Points Bitcoin price started a downside correction after trading as high as $6,849 against the US Dollar. There is a major bullish trend line formed with support near $6,560 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair should stay above the $6,550 support and the 100 hourly simple… […]

Bitcoin Price Watch: BTC/USD Could Surpass $7,000

Key Points Bitcoin price formed a support base above $6,300 and recovered higher against the US Dollar. There was a break above yesterday’s highlighted crucial bearish trend line with resistance at $6,480 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is now placed nicely above the $6,500 resistance level,… […]

Investor: Selling Cryptocurrency in 2018 is Like Selling Apple in 2001

Yoni Assia, the CEO of UK-based multi-asset brokerage company eToro, a platform founded in 2006 that serves more than seven million active users, has said in an interview that the recent decline in the prices of both major and small cryptocurrencies such as Bitcoin, Ethereum, and tokens has created a rare buying opportunity for newcomers. […]

Bitcoin Price Watch: BTC/USD Struggle Continues

Key Points Bitcoin price failed to move above the $6,600 resistance and it currently under pressure against the US Dollar. There is a significant bearish trend line formed with resistance at $6,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must move above the $6,500 hurdle and the 100… […]

Bitcoin Price Weekly Analysis: Can BTC/USD Gain Traction?

Key Points Bitcoin price is currently consolidating around the $6,500 level against the US Dollar. The BTC/USD pair is currently attempting an upside break above a declining channel with resistance at $6,500 on the 4-hours chart (data feed from Kraken). The pair may move a few points higher, but there are many hurdles on the… […]

Hedge Fund CEO: $60,000 For Bitcoin in 2018 is Still In Play, Optimistic

Phillip Nunn has stated that he still believes that Bitcoin will reach $60,000 this year. The CEO of The Blackmore Group and Wealth Chain Group reaffirmed his January price prediction earlier today. Nunn Believes that Many Crypto Projects will Fail Nunn spoke to BusinessCloud at KPMG’s Tech Manchester event on Thursday. He stated that he still… […]

Bitcoin Price Watch: Can BTC/USD Break 100 SMA?

Key Points Bitcoin price formed a decent support near the $6,130 level and recovered against the US Dollar. The BTC/USD pair is currently attempting to break a key bearish trend line with resistance at $6,450 on the hourly chart (data feed from Kraken). The pair may correct higher further, but it is likely to face… […]

Bitcoin Price Fell 11% in 24 Hours: What Triggered the Drop and What Lies Ahead?

Many analysts and mainstream media outlets including Bloomberg and the Wall Street Journal attributed the recent drop in the Bitcoin price from $7,500 to $6,700 to the hacking attack suffered by Coinrail, a minor cryptocurrency exchange in South Korea. However, the reasoning behind attributing the latest correction to Coinrail is incorrect, given that Coinrail is […]

Bitcoin Price Watch: BTC/USD Breaks Key Support

Key Points Bitcoin price failed to recover above the $6,750 and $6,800 resistance levels against the US Dollar. There is a key bearish trend line formed with resistance at $6,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair traded below the $6,500 support, which is a bearish sign in… […]

Bitcoin Price Watch: BTC/USD Recovery Could be Limited

Key Points Bitcoin price found support near $6,620 after a major decline against the US Dollar. Yesterday’s highlighted important bearish trend line was breached with resistance at $6,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently correcting higher towards a few important resistances such as $7,000 and… […]

Bitcoin Price Watch: BTC/USD Bearish Below $7,000

Key Points Bitcoin price fell sharply and declined below a major support area at $7,000 against the US Dollar. There is a major bearish trend line formed with resistance at $6,950 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair may perhaps correct a few points higher, but it could… […]