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Analysts Fear an Ethereum Drop to $300 As Price Becomes “Heavy”

Source Node: https://bitcoinist.com/analysts-fear-an-ethereum-drop-to-300-as-price-becomes-heavy/?utm_source=rss&utm_medium=rss&utm_campaign=analysts-fear-an-ethereum-drop-to-300-as-price-becomes-heavy
Time Stamp: August 8, 2020 12:00 AM - Modified On: May 21, 2021 - Published By:
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Ethereum has begun to drop over the past 24 hours as the asset was once again rejected at $400. $400 is a psychological and technical resistance for the leading cryptocurrency, which is still up 50% in the past two weeks. Analysts believe that the recent price weakness could be a precursor to a stronger retracement in the days ahead. One commentator is predicting a drop to $300. This purportedly lines up with important technical levels on Ethereum’s medium-term chart. Investors in ETH should watch Bitcoin and other markets for some

BitMEX Leaderboard Trader Fears Bitcoin Could See a Second “Flash Dump”

Source Node: https://bitcoinist.com/bitmex-leaderboard-trader-fears-bitcoin-could-see-a-second-flash-dump/?utm_source=rss&utm_medium=rss&utm_campaign=bitmex-leaderboard-trader-fears-bitcoin-could-see-a-second-flash-dump
Time Stamp: August 7, 2020 9:00 PM - Modified On: May 21, 2021 - Published By:
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Bitcoin has slid lower over the past 24 hours as the cryptocurrency failed to surmount $12,000 in the latest leg higher. As of the time of this article’s writing, BTC trades for $11,600 — 5% shy of the local highs. Investors are still reeling from the flash crash that transpired approximately one week ago. While that was seemingly a black swan event, a trader is fearing a secondary event. The individual in question is a two-time BitMEX return on equity (ROE) leaderboard trader, meaning he has a strong track record.

Bitcoin Plunges Under Pivotal $11.5k Support: What Do Analysts Think Is Next?

Source Node: https://bitcoinist.com/bitcoin-plunges-under-pivotal-115k-support/?utm_source=rss&utm_medium=rss&utm_campaign=bitcoin-plunges-under-pivotal-115k-support
Time Stamp: August 7, 2020 2:50 PM - Modified On: May 21, 2021 - Published By:
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Bitcoin is slipping lower after peaking at $11,950 just the other day. This marked the second major rejection at the pivotal $12,000 level in the span of a week. As of the time of this article’s writing, BTC is trading for $11,400. This is the lowest price in days, with the asset last trading this low after last week’s flash crash. Analysts believe that Bitcoin’s ongoing drop could be a precursor to a greater move lower. $11,500 has been a level that traders have been watching with intrigue. Some have

Analyst Explains Reasons Bitcoin Price Could Fall Back to Lower $10Ks

Source Node: https://bitcoinist.com/analyst-explains-reasons-bitcoin-price-could-fall-back-to-lower-10ks/?utm_source=rss&utm_medium=rss&utm_campaign=analyst-explains-reasons-bitcoin-price-could-fall-back-to-lower-10ks
Time Stamp: August 7, 2020 4:42 AM - Modified On: May 21, 2021 - Published By:
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Bitcoin is facing risks of a price correction towards $10,000, according to a TradingView analyst. He spotted the cryptocurrency trading near its weekly resistance level, noting that it may amount to profit-taking action among traders. Nevertheless, he also asserted that Bitcoin is in a bull market, adding that the price would likely bounce back from its $10,000-lows. Bitcoin’s efforts to log a breakout move above $12,000 may fail as selling sentiment grows near the said level. The benchmark cryptocurrency risks breaking lower after retesting the $12,000-mark, says a TradingView.com analyst

Two Macro Calls That Could Propel Bitcoin to $14,000 This Year

Source Node: https://bitcoinist.com/two-macro-calls-that-could-propel-bitcoin-to-14000-this-year/?utm_source=rss&utm_medium=rss&utm_campaign=two-macro-calls-that-could-propel-bitcoin-to-14000-this-year
Time Stamp: August 7, 2020 1:42 AM - Modified On: May 21, 2021 - Published By:
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Bitcoin may hit $14,000 in the coming quarter. The analogy appears out of two extremely bullish calls made for the US dollar and Gold. Bitcoin has shown an extreme correlation with the two macro assets this year. Bitcoin may have some fuel left to continue its 2020’s run-up towards the $14,000-mark. The level–last approached in 2019 against the backdrop of an escalating US-China trade war and falling yuan– has fallen back into the radar of Bitcoin bulls. Only this time, the weakening US dollar has replaced its Chinese counterpart as

Analyst: Bitcoin Just Posted the “Most Important Breakout” in BTC History

Source Node: https://bitcoinist.com/analyst-bitcoin-just-posted-the-most-important-breakout-in-btc-history/?utm_source=rss&utm_medium=rss&utm_campaign=analyst-bitcoin-just-posted-the-most-important-breakout-in-btc-history
Time Stamp: August 6, 2020 7:00 PM - Modified On: May 21, 2021 - Published By:
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Bitcoin has been seeing some incredibly bullish price action throughout the past several days and weeks The cryptocurrency is now consolidating at just below $12,000 as its buyers attempt to catalyze another leg higher Despite facing resistance at this level, the crypto has yet to see any type of harsh breakdown here One recent technical development is creating a new source of bullishness amongst traders The cryptocurrency just broke out of a multi-year bull pennant, with this being the “most important breakout” in BTC history – according to one trader

These Factors Suggest Bitcoin Could Hit $13,900 if Bulls Defend One Key Level

Source Node: https://bitcoinist.com/these-factors-suggest-bitcoin-could-hit-13000-if-bulls-defend-one-key-level/?utm_source=rss&utm_medium=rss&utm_campaign=these-factors-suggest-bitcoin-could-hit-13000-if-bulls-defend-one-key-level
Time Stamp: August 5, 2020 7:00 PM - Modified On: May 21, 2021 - Published By:
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Bitcoin’s consolidation phase within the lower-$11,000 region has resulted in a powerful push up towards $12,000 Although the crypto has yet to re-test this level, it does seem as though a movement to this level could be imminent in the near-term Multiple analysts are now offering bullish outlooks on BTC in the near-term One such trader is noting that a move up towards $13,000 could be brewing in the days and weeks ahead There are a plethora of different technical factors that could help this rally come to fruition Bitcoin

Why One Trader Thinks Bitcoin Will See a $1,000+ Plunge Despite Ongoing Upswing

Source Node: https://bitcoinist.com/why-one-trader-thinks-bitcoin-will-see-a-1000-plunge-despite-ongoing-upswing/?utm_source=rss&utm_medium=rss&utm_campaign=why-one-trader-thinks-bitcoin-will-see-a-1000-plunge-despite-ongoing-upswing
Time Stamp: August 5, 2020 2:00 PM - Modified On: May 21, 2021 - Published By:
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Bitcoin is currently showing intense signs of technical strength as it races towards $12,000 once again despite the recent rejection at this level The cryptocurrency is now well-positioned to see further upside but remains within a short-term consolidation phase until it shatters this level This uptrend may be bolstered by its break above a previously formed trading range within the lower-$11,000 region One analyst still believes that Bitcoin is at risk of seeing a large near-term selloff that sends it back into the $10,000 region Bitcoin and the entire crypto

Here’s Why Traders are Growing Cautious About Ethereum’s Uptrend

Source Node: https://bitcoinist.com/heres-why-traders-are-growing-cautious-about-ethereums-uptrend/?utm_source=rss&utm_medium=rss&utm_campaign=heres-why-traders-are-growing-cautious-about-ethereums-uptrend
Time Stamp: August 4, 2020 4:00 PM - Modified On: May 21, 2021 - Published By:
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Ethereum has witnessed some incredibly mixed price action throughout the past few weeks After rallying up to highs of $415, it has been struggling to recapture this momentum as it largely trades below $400 Yesterday, ETH bulls pushed it to this key level before facing a massive influx of selling pressure that forced it lower It is now trading around its daily lows as bulls struggle to gain further momentum This has led one analyst to note that further downside could be imminent in the near-term Ethereum has seen some

Analyst: Closing Above This Crucial Level Could Catapult Bitcoin to New Highs

Source Node: https://bitcoinist.com/analyst-closing-above-this-crucial-level-could-catapult-bitcoin-to-new-highs/?utm_source=rss&utm_medium=rss&utm_campaign=analyst-closing-above-this-crucial-level-could-catapult-bitcoin-to-new-highs
Time Stamp: August 4, 2020 2:00 PM - Modified On: May 21, 2021 - Published By:
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Bitcoin appears to have entered a clear consolidation phase as it trades within the lower-$11,000 region Overnight the crypto faced a slight rejection after buyers tried to push it up towards its near-term resistance Buyers were not able to surmount the heavy selling pressure that existed within this region, and the crypto fell back to its support at $11,000 Analysts are now noting that BTC could be just a stone’s throw away from seeing an explosive rally higher There is one crucial level it needs to close above for this