Bitcoin (BTC) Price Weekly Forecast: Risk of Extended Drop To $8,880

There was a major drop in bitcoin price after it broke the $12,000 support against the US Dollar. The price is currently holding the key $10,800 support area, but it remains at a risk of more losses. There was a break below a key bullish trend line with support at $12,100 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair could extend losses towards the $8,880 level if there is a successful break below $10,800. Bitcoin price is holding the key $10,800 support area against…

Ethereum Price (ETH) Holding Crucial Support: Next Key Break Nearby

ETH price remained in a bearish zone after it settled below the $280 support against the US Dollar. The price declined heavily and recently tested the key support area near the $260 level. There is a crucial bearish trend line forming with resistance near $282 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair is likely to recover as long as it is trading above the key $260 support area. Ethereum price is struggling to recover after a massive decline against the US Dollar and bitcoin. ETH…

Bitcoin Price (BTC) Remains Vulnerable, Risk of More Losses

Bitcoin price tested the $11,000 support level and recently recovered higher against the US Dollar. The price recovered close to the $11,900, but upsides remain capped below $12,000. There is an ascending channel forming with support near $11,550 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could start a strong decline if there is break below $11,500 and $11,400 in the near term. Bitcoin price is facing an uphill task with many hurdles near $12,000 against the US Dollar. BTC remains vulnerable as long…

Bitcoin Price (BTC) Testing Crucial Support: Can The Bulls Stage Recovery?

Bitcoin price declined sharply below the $12,000 support area against the US Dollar. The price traded close to the $11,000 support and it is currently consolidating losses. There is a key bearish trend line forming with resistance near $11,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price could either recover above $11,400 or it might extend losses below the $11,000 support. Bitcoin price reached the key $11,000 support area against the US Dollar. BTC is currently consolidating and seems to be preparing for the…

Ripple Price (XRP) Could Underperform: Recovery Could Face Hurdles

Ripple price declined heavily below the $0.3800 and $0.3500 support levels against the US dollar. The price even traded close to the $0.3000 support level and it is currently correcting higher. There is a new breakout pattern forming with resistance near $0.3320 on the hourly chart of the XRP/USD pair (data source from Kraken). The price could correct higher, but upsides are likely to remain capped near $0.3460. Ripple price is currently under a lot of pressure against the US Dollar and bitcoin. XRP price might recover towards the $0.3460…

Ethereum Price Consolidating Losses: ETH & BTC Could Correct Higher

ETH price declined heavily below the key $300 support area against the US Dollar. The price traded close to the $260 support level and it is currently consolidating losses. There is a short term bearish trend line forming with resistance near $274 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct higher in the near term, but it is likely to struggle near the $282 and $285 resistances. Ethereum price started consolidating losses after a sharp dip versus the US Dollar and bitcoin. ETH price…

Bitcoin’s 3-Day Price Charts Point to an Impending ‘Golden Cross’

A bitcoin price indicator is about to turn bullish for the first time since the early stages of the 2016-17 bull market. The 50-candle moving average (MA) on bitcoin’s three-day chart is in a solid upward trajectory and looks set to cross above the 200-candle MA in the next few days. That would be the first golden crossover on the three-day chart since early February 2016. CoinDesk reported on a golden cross for bitcoin’s daily chart back in April. Seasoned traders often refer to that long-term bull market signal as…

Bitcoin Price Drops $2K in 24 Hours But Bull View Still Intact

View Bitcoin suffered a significant drop in the last 24 hours, but the higher-lows pattern on the daily chart is still intact and the outlook remains bullish. A daily close below the July 2 low of $9,615 would invalidate the bullish higher-lows pattern and confirm a bearish reversal. The case for a drop to $9,615 would strengthen if BTC prints a UTC close below $11,550 today, validating Wednesday’s bearish outside day candle. A high-volume wedge breakout on the hourly chart, if confirmed, would imply an end of the pullback and…

Here’s Why Bitcoin Price Cratered After Smashing Beyond $13,000

Bitcoin was about to break out to a new high on Wednesday at $13,200, but then suddenly sold off 10 percent in about 90 minutes. What was behind this sudden sell-off? What Goes Up Must Come Down There is a fundamental rule in physics known as gravity. What goes up must come down. There is a corollary to this principle in the securities markets. Securities that rise in a parabolic fashion will fall in a parabolic fashion, and it will be even worse when it comes to bitcoin. The reason…

Bitcoin Price (BTC) Tumbles $2,000 In Few Hours: $10,800 Holds Key

Bitcoin price started a significant decline from the $13,200 swing high against the US Dollar. The price is down more than $2,000 and it even broke the $11,800 support area. There was a break below a major bullish trend line with support near $12,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The next important supports on the downside are near $11,000 and $10,800. Bitcoin price nosedived by more than $2,000 from well above $13,000 against the US Dollar. BTC is now approaching the next important…