Bitcoin formed a bearish engulfing candle immediately after its $100,000 retest, which opened the door for a potential correction below $90,000. Bitcoin price sold off again on Jan. 8, forming a bearish engulfing candle on the daily chart. This particular daily drawdown was BTC’s second steepest fall in 19 weeks. Bitcoin 1-day chart. Source:TradingView With…
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XRP could crash 15-20% in December due to bearish technical conditions and signs of growing distribution by whales. XRP has dropped by over 25% three weeks after hitting $2.90, its highest level since January 2018, and was trading for as low as $2.13 on Dec. 23. Profit-taking due at XRP’s overbought levels and the Federal Reserve’s hawkish…
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Bitcoin is attempting a soft recovery today, but failure to flip $95,000 back to support could lead to a classic Thanksgiving price dump. Bitcoin’s price dropped below $95,000 on Nov. 25, breaking below an ascending broadening wedge pattern. While the crypto asset has found support from the 100-day EMA level, combined overhead resistance from the 50-day…
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After hitting new all-time highs, Bitcoin hints at early signs of short-term correction to reset its overleveraged futures market. Bitcoin’s price dropped 6% between Nov. 13 and 15, exhibiting its first period of correction since breaking above its previous all-time high of $73,880. Bitcoin 4-hour chart. Source: TradingView With BTC undergoing price discovery on Nov.…
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Bitcoin’s failure to hold $68,000 could be an early sign that a price reversal is beginning. Bitcoin’s price has rebounded by more than 7.5% in seven days after hitting a 10-week high of $67,922 on Oct. 15. However, a sharp correction in the coming days is possible based on several technical and onchain factors. BTC/USD…
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