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Category: bitcoin technical analysis

Bitcoin Price Prediction: BTC holds crucial support while bulls gaze at $42,000

Bitcoin made its way from the week’s support at $31,000. The move was sharp, resembling a V-shaped pattern. Hence, the recovery stalled at $38,000 as bulls retreated to confirm higher support. At the time of writing, the flagship cryptocurrency trades at $36,600 after holding at two key levels. Initially, the 50 Simple Moving Average (SMA)

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Bitcoin Price Prediction: BTC bulls vigorously push toward $40,000

Bitcoin price has lifted off the week’s primary support at $31,000, allowing more buyers to come from the sidelines supporting the upswing eyeing $40,000. The move saw Bitcoin gain 13% in 24 hours while collectively bolstering the entire cryptocurrency market uphill. Polkadot is among the most improved crypto assets, with its 15% double-digit gains. Kusama

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Bitcoin Price Prediction: BTC dumps to $30,000 again as renowned analyst confirms impending bear cycle

Bitcoin market finally exited the indecision status quo as bears took over amid the Asian session on Tuesday. The largest cryptocurrency had balanced around $36,000 in the wake of last week’s freefall from $39,000. Its upside had been limited under a confluence resistance formed by the 50 Simple Moving Average (SMA) and the 100 SMA

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Bitcoin Price Analysis: BTC lags a seemingly imminent 35% breakout to $50,000

Bitcoin has not been able to recover to last week’s highest levels, around $39,000. Following the humorous ‘breakup’ tweet from Elon Musk that suggested that he had parted ways with Bitcoin, the price sunk to $35,000. The weekend session has been chiefly sluggish, with the price action unable to gain momentum toward $40,000. The prevailing

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Bitcoin Price Forecast: BTC bleeds after rejection $39,000

This week, Bitcoin price staged another recovery mission, extending the gains from support at $33,000 to highs around $39,000. Investors anticipated a break above $40,000, but the rejection has led to an ongoing retreat. The pioneer cryptocurrency trades at $37,800 while holding dearly to the 100 Simple Moving Average (SMA). It is almost certain that

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Bitcoin Price Prediction: BTC signals freefall to $27,000; here are the levels to watch

Bitcoin is relatively in a no-trade zone at the time of writing. The sideways trading has seen the cryptocurrency dance around $37,000 for several days. Price actions toward $40,000 have diminished, while the immediate support at $36,000 appears vigorously defended. Meanwhile, it is vivid enough to see the formation of a pennant pattern. This is

The post Bitcoin Price Prediction: BTC signals freefall to $27,000; here are the levels to watch appeared first on Coingape.

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Bitcoin Price Prediction: BTC imminent drop to $24,000 could soon gain traction

Bitcoin recently tested support at $33,500 following another rejection from $40,000. The largest cryptocurrency by market capitalization has lost more than half of its value from the all-time high of $65,000 in May. As the new month begins, investors hope that BTC will turn a new leaf and gain a significant amount of the lost

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Bitcoin price on the brink of nosediving to $30,000 as the SEC reviews two BTC ETF products

Bitcoin’s lock-step trading is becoming more or less mundane. The inability to lift above $40,000 appears to be exhausting buyers. On the other hand, most attention is directed toward defending support at $37,000. Meanwhile, the flagship cryptocurrency trades slightly above $38,000. The primary goal is to support the 50 Simple Moving Average (SMA) on the

The post Bitcoin price on the brink of nosediving to $30,000 as the SEC reviews two BTC ETF products appeared first on Coingape.

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Bitcoin Price Forecast: BTC needs to break $40,000 to validate the uptrend toward $50,000

Bitcoin has proved to investors that it can come out of the ditch it fell into last week by gaining considerable ground to $40,000. However, increasing skepticism in the market limits Bitcoin’s ability to continue with the uptrend. BTC corrected from highs around $40,000 but secured support at $36,400. In the meantime, the price has

The post Bitcoin Price Forecast: BTC needs to break $40,000 to validate the uptrend toward $50,000 appeared first on Coingape.

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Bitcoin Price Prediction: BTC recovery toward $40,000 begins amidst mounting investor skepticism

Bitcoin approached $30,000 again after failing to confirm last week’s break above $40,000. The weekend session has been another bloodbath in the cryptocurrency market, sparking questions of how far the correction will go and if recovery is at all possible. The flagship cryptocurrency plunged back to $30500 but sustained the position within the relatively sharp

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Bitcoin Price Prediction: BTC wobbles to $40,000, but weak technical levels delay upswing to $50,000

Bitcoin price is pivotal at $40,000, whereby bulls lack the momentum to extend the gains to $50,000 and barricade the downside, eliminating all bearish threats. The 40% recovery from the support at $30,500 fizzled out at $43,000, marking the most formidable technical resistance. Meanwhile, the flagship cryptocurrency trades slightly above $40,000 amid a persistent push

The post Bitcoin Price Prediction: BTC wobbles to $40,000, but weak technical levels delay upswing to $50,000 appeared first on Coingape.

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Bitcoin Price Forecast: Bearish showdown plunges BTC to $35,000, but recovery seems imminent

Bitcoin bears continued with the display of muscle strength on Wednesday, leading to losses under $40,000. The bellwether cryptocurrency plummeted to $35,000 before some semblance of stability returned to the market. The losses were not unique to Bitcoin but affected most crypto assets. Over $500 billion was wiped off the cryptocurrency market led by altcoins

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Bitcoin Price Analysis: Bloodshed as BTC tumbles to $40,000, where to next?

Bitcoin is in more turmoil after losing ground above $45,000 and extending the losses below last week’s formidable support at $42,000. The pioneer cryptocurrency downtrend seems unstoppable from a short-term technical analysis perspective. Therefore, the ‘saving grace’ could be the 200 Simple Moving Average (SMA) on the daily chart. Bitcoin barely holds onto $40,000 Following

The post Bitcoin Price Analysis: Bloodshed as BTC tumbles to $40,000, where to next? appeared first on Coingape.

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Bitcoin Price Forecast: BTC dumps to $42,000, but Tom Lee makes a massive $125,000 prediction

The instability in the cryptocurrency market last week continued throughout the weekend. A brief break above $50,000 was unsustainable, leading to another breakdown. Moreover, support at $46,000 did little to stop the massive losses; hence BTC dived near $42,000, a three-month low. Elon Musk blamed for crashing Bitcoin The founder is Tesla, Elon Musk has

The post Bitcoin Price Forecast: BTC dumps to $42,000, but Tom Lee makes a massive $125,000 prediction appeared first on Coingape.

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Bitcoin price shows weakness at $50,000, but this crucial technical formation could elevate it to $60,000

Bitcoin has since Wednesday stalled under around $50,000. On the downside, immense support between $46,000 and $47,000 has ensured the bearish leg does not stretch further. Meanwhile, BTC has been pivotal at $50,000, unable to make progress above this critical level. Bitcoin’s consolidation could culminate in a massive upswing Since the breakdown on Wednesday, the

The post Bitcoin price shows weakness at $50,000, but this crucial technical formation could elevate it to $60,000 appeared first on Coingape.

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Bitcoin Price Analysis: Tesla’s unforeseen rejection of BTC payments triggers sharp freefall

Tesla, the largest manufacturer of electric vehicles, has announced that it will no longer accept payments in BTC, citing environmental issues related to the high cost of mining and processing Bitcoin transactions. The news was relayed by Elon Musk, the founder and CEO of the company, saying that purchases using the flagship cryptocurrency had been

The post Bitcoin Price Analysis: Tesla’s unforeseen rejection of BTC payments triggers sharp freefall appeared first on Coingape.

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Bitcoin Price Prediction: BTC could revisit $50,000 as the technical picture weakens

Bitcoin has recently closed the gap toward $60,000. However, a monthly high formed at $59,612 cut short the bullish advances. Perhaps due to exhaustion in the bullish camp, a correction came to the picture. The retreat occurred in tandem with other crypto assets like Ethereum’s drop from $4,216 to under $3,800. Meanwhile, the cryptocurrency market

The post Bitcoin Price Prediction: BTC could revisit $50,000 as the technical picture weakens appeared first on Coingape.

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