Bitcoin bore witness to some intense volatility today that came about after the cryptocurrency’s price rocketed past $10,000 before facing yet another harsh rejection that led it back into the $9,000 region. This price action has once again resulted in BTC falling into the same consolidation channel that it was previously caught within, and its…
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The beginning of the month was quite chaotic for Bitcoin and those trading it. On June 1, the flagship cryptocurrency was able to slice through the $10,000 resistance level for the first time since mid-February. But a few hours later, BTC plummeted by more than $1,000 in less than five minutes. The wild price action…
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A shockingly similar fractal from the S&P 500 during the 2008 recession Bitcoin was born from is playing out across the cryptocurrency’s price chart. If the first-ever crypto asset continues to follow the same path as the SPX did back then, Bitcoin will set a new all-time high record before the end of 2020. S&P…
DetailsThis morning, Ethereum network fees surged to over $2.6 million in a single hour. The spike in the metric was primarily due to one actor sending just 0.55 ETH, but paying over $2.5 million in USD value to do so. Was this a costly mistake this user crypto user won’t soon forget, or is there…
DetailsBitcoin price just broke out from the tight trading range its been trading it for days between $9600 and $9800, and moments later found itself tapping resistance at $10,000 once again. The spike was quickly rejected, but Bitcoin appears to be consolidating and ready for another attempt to breakthrough. Will the rejection force prices lower…
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Last night, Bitcoin price closed the daily trading session with a long-legged doji. This type of Japanese candlestick often signals indecision and a lack of determination from bulls. In the past, each time this signal appeared, a deep correction followed. With bulls potentially losing control once again, bears could take over and push Bitcoin price…
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Ethereum is trading in a range above the $240 support region against the US Dollar. ETH price is likely to end the current consolidation and rally above the $250 resistance. Ethereum is still trading in a range above the $240 support and the 100 hourly simple moving average. The price is likely to start a…
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Bitcoin is looking to repeat a bearish pattern in June 2020, which has led its spot price to be lower by 60 percent. The cryptocurrency’s daily chart could form a “Death Cross” if it continues to struggle below $10,000. Meanwhile, bitcoin’s momentum indicator suggests a bearish divergence. In June 2020, bitcoin could form a so-called…
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Even after a strong rejection at $10,400 last week, Bitcoin has held in the high-$9,000s ever since. As of the time of this article’s writing, BTC is trading for $9,800, seemingly poised to break into the five digits for the umpteenth time in weeks. The consolidation at such high prices has turned some optimistic. As…
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Bitcoin options trading across multiple exchanges posted their best open interest figures since January 2019. The value of the total number of outstanding contracts went past $1.5 billion, according to Skew. The data appeared ahead of the Federal Reserve’s monetary policy release today at 1430 ET. Bitcoin options trading across a total of five derivative…
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