A cooling-off period is welcomed by traders who were already in moderate shock at the veracity of last week’s 10-green-daily-candle surge. Bitcoin (BTC) dipped below $39,000 on Aug. 2 in what traders had long predicted would be a necessary reaction to recent gains. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin needs to hold mid-$30,000… Continue reading BTC price sees 6% correction in contrast to booming Bitcoin on-chain data
Crypto and stock traders view the inverse head-and-shoulders pattern as an early signal that a bullish trend reversal is in the making. Every trader aims to buy low and sell high, but only a few are able to muster the courage to go against the herd and purchase when the downtrend reverses direction. When prices… Continue reading Pro traders look for this classic pattern to spot Bitcoin price reversals
Bitcoin price rejection at $42,000 means BTC is now trying to find new high lows, but at what price levels? Bitcoin (BTC) has seen an impressive rally of 44% with ten green days in a row. This rally and the substantial number of green days resulted in a sentiment shift. Practically two weeks ago, the… Continue reading Bitcoin technicals: How low will BTC price go after failing at $42K resistance?