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Bitcoin Price Plunges: What’s Behind the Drop?

It looks like Bitcoin had its little pump from $60K to 64K but now it appears that it can't hold up the price. It keep making lower highs in the short term and the signals look pretty bearish right now. The MACD has a green dot on the daily but all other smaller time frames are rather bearish. Things can get volatile so we might see some pumps and dumps while the price consolidates. This could go on for another month or two yet before we see the price making a clear direction in the upward trajectory in October. I'm looking at...

By NovaX
Updated 14 hours ago
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MACD Bearish Cross: A Common Post-ATH Pattern in Cryptocurrency Markets

The MACD indicator MACD is the Lower on the chart. It is a trend-following momentum indicator that shows the relationship between two moving averages of a security's price. Traders use the MACD to identify entry and exit points for trades. MACD is used by technical traders in stock, bond, commodities, and FX markets. After the March 2021 ATH MACD turned bearish. The MACD (yellow) Crossed under the Signal line (red) and remained there for 119 days. Then PA rose to a New ATH, Macd Crossed Bullish for a short period and then turned Bearish once again. The Signal line was above the MACD...

By NovaX
Updated 4 days ago
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Bitcoin Halving: Exploring Price Trends and Scarcity Throughout History

The Relationship Between Bitcoin Halvings and Price The Bitcoin halving cycle, a programmed event that roughly cuts the block reward for miners in half every four years, has become a focal point for investors and enthusiasts alike. Historically, these halvings have been followed by significant price increases for Bitcoin, leading many to believe they are a reliable indicator of future bull runs. However, the relationship between halvings and price is more nuanced than a simple cause-and-effect scenario. The Impact of Scarcity on Bitcoin Price The core principle behind the price impact lies in scarcity. By reducing the rate at which new Bitcoins are...

By NovaX
Updated 5 days ago
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Bitcoin Update: Testing Imbalance Zone (Purple) Twice – What’s Next?

Bitcoin has already activated our purple imbalance zone as we had predicted. However, it may remain in this zone for a few more days before the price takes off again towards the supply zone. Im specting to test 2 times before the bounce, This is a daily chart, and as you can see, the green candle marked the moment when the imbalance was activated upon touching it. Best regards, and thank you for following my analysis. im on X-twitter too follow me: @rocketmike111

By NovaX
Updated 1 week ago
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Navigating the Cryptocurrency Market: Understanding BTC Fear Maxxing

🚨 Breaking News: Mt. Gox Trustee Set to Initiate Bitcoin and Bitcoin Cash Repayments in July 2024 🚨 Exciting developments have emerged today as the Mt. Gox Trustee announces plans to begin repayments in Bitcoin and Bitcoin Cash starting July 2024, sparking fresh concerns within the market. Consequently, BTC has experienced a decline below the $61k mark. 📉 Technical Analysis: - Attention was focused on the H8 demand zone, which had been a stronghold for the price over recent days. - Despite the emergence of an E9 Whale signal, it was swiftly negated by a Bearish Engulfing candle. - Following a weekend of limited liquidity,...

By NovaX
Updated 1 week ago
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Bitcoin Price Analysis: Is BTCUSDT Holding Support or Facing a Breakdown?

BTCUSDT.. market at his major support of the week that is 64450 This area have much importance on current chart and in history as well. And now again it is our most important area for now. If there is any kind of buying turn is exist in BTC then that is your support. But if market clear that level then gradually you can see a drop up to 5800 around plus minus. So keep close it as a major supporting area. Good luck Trade wisely

By NovaX
Updated 2 weeks ago
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Bitcoin: Analyzing Accumulation vs. Distribution Trends

Price Movement and Federal Reserve Impact on Cryptocurrency Market Price is with a range from 72k to 58k, with price pushing lower and trading within the 66k lvl. With the FED holding rates at 5.50% and signaling that it may hold rates at current lvls for longer, it is hitting the crypto market. There is a lot of self-fulling prophecy out there about when the FED will cut rates, with some looking at the timeframe being in September. There is a FED rate decision in July which could set the stage for the September Rate Decision. Before then, the FOMC Minutes...

By NovaX
Updated 2 weeks ago
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Bitcoin Price Prediction: Will It Reach $250,000 in the Future?

BTCUSD is looking extremely bullish despite the recent 4 month consolidation. For more than four months, Bitcoin has basically been moving sideways, experiencing quite volatile swings towards the upside and downside. However we should not neglect the overall bullish behaviour of Bitcoin which is still creating cycle and correction after cycle and correction. Therefore, maybe after a short term pullback, I do expect (much) higher prices on Bitcoin. Levels to watch: $67.000, $37.000 Keep your long term vision, Philip - BasicTrading

By NovaX
Updated 3 weeks ago
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