Bitcoin Price Eyes Support at $3,000 as BTC/USD Sets New Yearly Low

The bitcoin price on Friday plunged 6.5 percent against the US Dollar, breaking below the flagship cryptocurrency’s previous yearly low at $3,455. The bearish cycle took another turn after the Securities and Exchange Commission (SEC) halted its decision on the VanEck’s upcoming bitcoin ETF once again. The fundamental has been treated as one of the strongest bullish catalysts for the bitcoin market, with many believing that its approval would bring a minimum of $1 billion investment into space. In case the US regulator disapproves it, the market sentiment would be…

Bitcoin Price Watch: BTC/USD Primed To Test $3,000

Key Points Bitcoin price declined further and broke the $3,550 and $3,420 support levels against the US Dollar. There is a major bearish trend line formed with resistance at $3,700 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to decline further and it may even test the $3,000 level in the near term. Bitcoin price declined heavily below $3,550 against the US Dollar. BTC/USD remains in a downtrend and it could even trade towards $3,000 or $2,800. Bitcoin Price Analysis After forming…

Bitcoin Price Watch: BTC/USD Remains In Downtrend Below $4,020

Key Points Bitcoin price failed to break the $4,080 resistance level and declined recently against the US Dollar. Yesterday’s highlighted two key bearish trend lines are active with resistance near $4,000 and $4,090 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price remains in a major downtrend and it could extend losses below $3,800 in the near term. Bitcoin price is still in a bearish zone below $4,020 against the US Dollar. BTC/USD could accelerate losses once there is a break below the $3,740 support.…

Bitcoin Price Watch: BTC/USD Facing Major Resistance Near $4,150

Key Points Bitcoin price declined further below $3,900 and traded towards the $3,750 level against the US Dollar. There are two important bearish trend lines in place with resistance near $4,080 and $4,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to face a lot of offers near the $4,100-4,150 resistance area in the near term. Bitcoin price declined towards the $3,750 level against the US Dollar. BTC/USD is recovering, but it could find a strong resistance near $4,080 or $4,150. Bitcoin…

Bitcoin Price Watch: BTC/USD Remains Sell Near $4,200

Key Points Bitcoin price traded lower recently and broke the $4,120 support area against the US Dollar. There is a key bearish trend line in place with resistance at $4,180 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently trading above the $3,880 support, but it is at a risk of more losses. Bitcoin price failed to climb higher above $4,400 and declined against the US Dollar. BTC/USD remains sell on rallies near the $4,120 and $4,200 resistance levels. Bitcoin Price Analysis Recently,…

Bitcoin Price Weekly Analysis: BTC/USD Nosedives Below $3,800

Key Points Bitcoin price fell significantly and traded below $4,000 and $3,800 against the US Dollar. There is a major bearish trend line formed with resistance at $4,200 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is under pressure below $3,800 and it could even break the $3,500 support level. Bitcoin price tumbled more than 15% and broke the $3,800 support against the US Dollar. BTC/USD could accelerate declines towards the $3,500 level. Bitcoin Price Analysis This past week, there was a tiny upside…

Bitcoin Price Watch: BTC/USD Looks Set To Gain Pace Below $4,000

Key Points Bitcoin price started a major downside move after it failed to break the $4,600 resistance against the US Dollar. There is a new bearish trend line in place with resistance at $4,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is currently in a bearish zone and it could accelerate losses below the $4,000 level in the near term. Bitcoin price failed to recover further above $4,700 and declined against the US Dollar. BTC/USD could accelerate declines below the $4,000 support area.…

Bitcoin Price Intraday Analysis: BTC/USD in Breakout Action

Twitter Facebook LinkedIn Bitcoin on Sunday jumped 2.13 percent against the US Dollar as USD-pegged cryptocurrency tether (USDT) resumed its implosion. BTC/USD was in a sideways sentiment for most of the weekend trading session. The bearish trendline has capped the upside bias on multiple occasions. Nevertheless, the pair — from the past 8 hou rs to the time of this writing — has persuaded a successful breakout action, breaking the cap mentioned above and forming new intraday highs towards 6464-fiat. At the same time, CoinMarketCap.com is showing a massive drop…

Bitcoin Price Intraday Analysis: BTC/USD Holds Support

Twitter Facebook LinkedIn Bitcoin on Friday witnessed as much as 1.3 percent gains against the US Dollar from the pair’s previous low at 6293-fiat. BTC/USD is in a minor pullback scenario ever since and is trading at 6364-fiat at the time of this writing. In contrast to the Asian session, the European hours today witnessed lower volume. It pushed the pair into a narrow trading range altogether, leaving little-to-no room for day traders to find intraday opportunities. The US Dollar Index (DXY), on the other hand, came under some selling…

Bitcoin Price Intraday Analysis: BTC/USD Recovers amid Vulnerability

Twitter Facebook Bitcoin on Thursday is trending inside a narrow trading channel, sustaining the 1 percent gain it made the previous day. The BTC/USD instrument is rebounding from the highs made during the Wednesday trading session, now 0.67 percent down at 6307-fiat. The high ticks in bitcoin’s volume index somewhat explain how new money has entered the bitcoin space in the past 24 hours. On the other hand, the US Dollar Index was on a downside corrective path on Wednesday, validating investors’ inclination towards redistributing their greenbacks back to markets…