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TA: Bitcoin Breaks $40K, Recovery Could Be Difficult!

Bitcoin extended decline below the $40,000 support against the US Dollar. BTC is correcting losses, but it might face resistance near the $39,500 zone. Bitcoin extended decline below the $40,000 and $39,500 support levels. The price is trading below $40,000 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $39,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct higher, but upsides might be limited above $40,000. Bitcoin Price Remains In Downtrend Bitcoin price failed to stay above the $42,000 support level and extended decline. BTC traded below the $41,200 support level to enter a bearish zone. The decline gained pace below the $40,000 level and the 100 hourly simple moving average. The pair even broke the $39,500 support and traded as low as $38,000. It is now correcting losses and trading above the $38,800 level. Bitcoin is now testing the 50% Fib retracement level of the recent decline from the $40,450 swing high to $38,000 low. On the upside, an initial resistance is near the $29,300. The next key resistance is near the $39,500 level. There is also a key bearish trend line forming with resistance near $39,500 on the hourly chart of the BTC/USD pair. The trend line is close to the 61.8% Fib retracement level of the recent decline from the $40,450 swing high to $38,000 low. The main resistance is now forming near the $40,000 level. Source: BTCUSD on TradingView.com A clear move above the $40,000 resistance zone might start a decent increase. The next major resistance is near $40,450 and the 100 hourly simple moving average, above which the price might rise towards the $41,200 level. More Losses in BTC? If bitcoin fails to start a recovery wave above…

Bitcoin Dominance Drops To 42% As Price Declines Below $43,000

Bitcoin has continued its descent towards $40,000 proving that the reversal was only temporary. While there is not enough to rule out another recovery, the current trend does point to more downside before the digital asset can find its footing and recover above $44K. This hard-fought resistance point that the cryptocurrency had managed to beat is becoming more and more elusive. The decline is also apparent in the market dominance of the digital asset. Bitcoin which maintains a majority share of the crypto market continues to see fierce competition from other digital assets. As investors have moved towards altcoins for the gains, so have the market share gone with them. Bitcoin Market Dominance Declines Bitcoin had started out the year 2022 on a low note. It had been a hard month for the digital asset by that point and the effects from the December crash were still being felt across the market. Not only had the price of the digital asset taken a hit, but its market dominance had also suffered too, which saw it drop below 40% for the first tie in over six months. Related Reading | Top 5 Watershed Moments In BTC On-Chain Analysis’ History. Is Your Favorite In? It had quickly recovered after that but not by much. It had bounced up to a high of 43.46% at the beginning of the week following the market recovery. This would prove to be short-lived as altcoins once again mounted fierce competition. Networks like Ethereum and Solana lead the charge with a wide range of DeFi and NFT offerings. Bitcoin’s dominance quickly dropped after that. Crashing from its peak of 43.46% to its current position at 42.51%. BTC dominance declines to 42% | Source: Market Cap BTC Dominance on TradingView.com BTC still retains the majority dominance of the market…

Bitcoin Hits a Roadblock; BTC Might Resume Its Downtrend

Bitcoin struggled to clear the $38,800 resistance zone against the US Dollar. BTC is moving lower and might decline below the $35,000 support level. Bitcoin started an upside correction but failed to clear the $38,800 resistance zone. The price is now trading below $37,500 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $37,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down if it stays below the $38,000 resistance zone. Bitcoin Price Starts Fresh Decrease Bitcoin price recovered above the $37,000 resistance zone. BTC even climbed above the $38,000 resistance zone and the 100 hourly simple moving average. However, the price failed to clear the $38,800 resistance zone. A high was formed near $38,719 and the price started a fresh decline. There was a move below the $38,000 support level. The bears pushed the price below the 50% Fib retracement level of the upward move from the $35,561 swing low to $38,719 high. Besides, there was a break below a key bullish trend line with support near $37,650 on the hourly chart of the BTC/USD pair. The pair traded below $37,200 and the 100 hourly simple moving average. It is now testing the $36,800 support zone. The stated level is near the 61.8% Fib retracement level of the upward move from the $35,561 swing low to $38,719 high. On the upside, an initial resistance is near the $37,400 level and the 100 hourly SMA. Source: BTCUSD on TradingView.com The first major resistance is near the $38,000 zone. The main resistance is still near the $38,800 zone. An upside break above the $38,800 resistance could start a steady upward move. The next key resistance is near the $40,000 level,…

Bitcoin price prediction : Bitcoin may reach $90,000 by the end of 2022

Bitcoin price prediction

The price of Bitcoin has been recovering after a major slump into the low $30,000s. As of press time, BTC trades at $37,774 with a 1.9% profit in the last 24-hours and could see more gains in the short term. Related Reading | Fidelity Says What We’ve Been Thinking: Countries & Central Banks Will Buy BTC Bitcoin’s most recent recovery could be tied to the relief in the traditional market. At the time of writing, the S&P 500 Index records a +105 points or 1.44% profit in the 4-hour chart. The cryptocurrency has displayed high levels of correlations with U.S. stocks and could continue to track them in the short term. In that sense, Bitcoin bulls could find backup on a sustained stock relief rally. Data from Material Indicators shows some resistance, in lower timeframes, above BTC’s price current levels. Therefore, $39,000, and $40,000 have become important resistance levels that need to turn into support. In case of further downside, Material Indicators records around $3 million in biding orders for Bitcoin near $36,000.  These levels could operate as critical support on a bearish scenario, for lower timeframes, and must hold in order to prevent a re-test of previous lows near $33,000. In the coming months, the bullish momentum could resume at full force, according to a report conducted by Finder. After consulting with a panel of 33 experts on the potential price scenarios for Bitcoin across multiple timeframes. The consensus amongst these experts is bullish, a prediction that defies current market sentiment. The potential increase in interest rates by the U.S. Federal Reserve could operate as a headwind for Bitcoin. At least, this seems to be the dominating narrative for some market operators. A Bitcoin Rally Before Another Multi-Year Bear Market? As seen below, the experts have progressively flipped their…

Following the market crash, 30,000 Bitcoin holders lost their millionaire status.

Thousands of new bitcoin millionaires were added this past year after the multiple rallies the digital asset saw. At its peak, it only required 14.5 bitcoins for a holder to be a BTC millionaire, much lower than it had ever been in the past. Due to this, the number of bitcoin millionaires rose quickly and tens of thousands of new millionaires were added to the tally. Now, however, with the recent price crash, a lot of bitcoin millionaires have lost their millionaire status. Given that the digital asset has lost almost 50% of its all-time high value, the number of millionaires has dwindled greatly in a short period of time. There Are 30,000 Less Bitcoin Millionaires When bitcoin hit its $69,000 all-time high, the number of bitcoin millionaires shot up quickly. For the first time, there were over 108,000 BTC millionaires given the low number of coins required to reach the millionaire status. All was well for a while and these 108,886 addresses kept their millionaire status. That is until the market crash that began in December 2021 and carried well into January of the new year. BTC trending at $37,000 | Source: BTCUSD on TradingView.com In the next two months, the price of BTC would suffer greatly and by extension, these bitcoin millionaires would be hit hard. This was exactly the case as about 30,000 BTC were no longer millionaires in the span of two months. At last count, the number of BTC addresses that held at least a million dollars worth of bitcoin had crumbled to 80,409. Related Reading | ‘Bitcoin Rush’: Small-Time Solo Miners Strike Gold With Full BTC Blocks Bitcoin whales with larger balances also suffered due to the crash. These whales who held more than $10 million at the time of the peak were cut down…

Bitcoin Price Prediction: A Recent High of $38,000 for BTC/USD

bitcoin price prediction btc usd signals fresh increase above 38000

Bitcoin Price Prediction – January 26 The Bitcoin price prediction reveals that BTC moves close to the resistance level of $39,000 level as it is now rising towards the north. BTC/USD Long-term Trend: Bearish (Daily Chart) Key levels: Resistance Levels: $44,000, $46,000, $48,000 Support Levels: $33,000, $31,000, $29,000 BTCUSD – Daily Chart   Buy Bitcoin Read moreBitcoin Price Prediction: A Recent High of $38,000 for BTC/USD

Bitcoin Whales Profit From Market Crash To Rack up Millions In BTC

The bitcoin crash rocked the market to its core when the digital asset had lost over 50% of its all-time high value to bottom out at $33,000. It was as a result of market sell-offs across the financial space, sparking a ripple effect that was felt heavily in the crypto market. Market sentiment had crumbled … Read moreBitcoin Whales Profit From Market Crash To Rack up Millions In BTC

Bitcoin Price Prediction: BTC/USD Trades Around $35,100

bitcoin price prediction btc usd trades around 35100 level

Bitcoin Price Prediction – January 22 The Bitcoin price prediction shows that BTC continues to drop as the cryptocurrency breaks beneath $36,000 and heads toward $34,000. BTC/USD Long-term Trend: Bearish (Daily Chart) Key levels: Resistance Levels: $40,000, $42,000, $44,000 Support Levels: $30,000, $28,000, $26,000 BTCUSD – Daily Chart Buy Bitcoin Now BTC/USD is seen dropping … Read moreBitcoin Price Prediction: BTC/USD Trades Around $35,100

Despite recent fear, Bitcoin Diamond Hands coins aged 12-18 months have risen to a two-year high.

Despite the recent fearful market, Bitcoin hodlers show diamond hands as coins aged 12-18 months touch a 2-year high. Coins Matured To 12-18 Months Revisit A High Not Seen Since 2 Years As pointed out by an analyst in a CryptoQuant post, BTC hodlers have held strong recently as coins aged 12-18 months have seen … Read moreDespite recent fear, Bitcoin Diamond Hands coins aged 12-18 months have risen to a two-year high.

If Bitcoin Breaks $37,000 It Will Likely to Drop $29,000!

Bitcoin has now broken down past $38,000 for the first time in over four months. This is a crucial point for the digital asset given that it has successfully maintained its position above this level throughout all of the crashes and dips of the previous month. While most would like to think that this is … Read moreIf Bitcoin Breaks $37,000 It Will Likely to Drop $29,000!

$200 Billion Exits The Market As Bitcoin Plummets To A Multi-Month Low

Bitcoin, the top asset in the industry has noted a sharp fall in prices over the last 24 hours. At press time, the king-coin depreciated by almost over 9.7%. Bitcoin dropped its value by almost $7,000 and was exchanging hands at $38,233.95. This marked an almost six-month low for the coin. This price level is … Read more$200 Billion Exits The Market As Bitcoin Plummets To A Multi-Month Low

TA: Bitcoin Drops Below $40K

Bitcoin started a strong decline from the $43,500 resistance against the US Dollar. BTC remains at a risk of more downsides below the $39,200 support. Bitcoin started a major decline after it failed to clear the $43,500 resistance. The price is still trading below $41,000 and the 100 hourly simple moving average. There was a … Read moreTA: Bitcoin Drops Below $40K

Bitcoin Price Prediction: BTC/USD Trades Below $43,000 Level

bitcoin price prediction btc usd trades below 43000 level

Bitcoin Price Prediction – January 20 The Bitcoin price prediction shows that BTC bulls’ comeback is likely to send the price towards the resistance level of $45,000. BTC/USD Long-term Trend: Bearish (Daily Chart) Key levels: Resistance Levels: $47,500, $49,500, $51,000 Support Levels: $37,500, $35,500, $33,500 BTCUSD – Daily Chart Buy Bitcoin Now The daily chart … Read moreBitcoin Price Prediction: BTC/USD Trades Below $43,000 Level

Bitcoin Price Prediction: BTC/USD Breaks Through $43,000 Resistance

bitcoin price prediction btc usd swings above 43000 resistance

Bitcoin Price Prediction – January 20 The Bitcoin price prediction reveals that BTC may begin to restart towards the upside after touching the daily low of $41,660. BTC/USD Long-term Trend: Ranging (Daily Chart) Key levels: Resistance Levels: $48,000, $50,000, $52,000 Support Levels: $38,000, $36,000, $34,000 BTCUSD – Daily Chart Buy Bitcoin Now BTC/USD looks green … Read moreBitcoin Price Prediction: BTC/USD Breaks Through $43,000 Resistance

TA: Why Bitcoin Needs To Clear $42,500 For Hopes of a Fresh Rally

Bitcoin found support near the $41,200 zone against the US Dollar. BTC must clear $42,500 to start a recovery wave in the near term. Bitcoin extended decline and tested the $41,200 support zone. The price is still trading below $42,500 and the 100 hourly simple moving average. There is a major bearish trend line forming … Read moreTA: Why Bitcoin Needs To Clear $42,500 For Hopes of a Fresh Rally

How Bitcoin Is Managing The Ebb And Flow Of Cryptocurrency

Latest data shows that so far in the year 2022, the rest of the crypto market has been moving in tandem with Bitcoin. crypto Indexes Follow Bitcoin In January So Far As per the latest weekly report from Arcane Research, all the various indexes in the crypto market have mimicked BTC’s movements so far in … Read moreHow Bitcoin Is Managing The Ebb And Flow Of Cryptocurrency

Bitcoin ATMs Shut Down In Singapore After MAS Curbs Crypto Advertising

Financial service regulator – Monetary Authority of Singapore has issued fresh guidelines to limit crypto trading by the public. It has also taken a firm stance and asked cryptocurrency companies to eschew advertising or showcasing their products to the general public. MAS substantiated their decision by stating reasons which were purely risk-oriented. The guideline stated … Read moreBitcoin ATMs Shut Down In Singapore After MAS Curbs Crypto Advertising

TA: Bitcoin Reaches Key Juncture, Why Recovery Won’t Be Easy

Bitcoin traded towards $41,200 before recovering against the US Dollar. BTC must clear $42,800 to start a fresh increase in the near term. Bitcoin extended decline and traded below the $42,000 support zone. The price is still trading below $43,000 and the 100 hourly simple moving average. There is a crucial bearish trend line forming … Read moreTA: Bitcoin Reaches Key Juncture, Why Recovery Won’t Be Easy

Bitcoin Price Prediction: BTC/USD Establishes A Low At $41,287

bitcoin price prediction btc usd establishes a low at 41287

Bitcoin Price Prediction – January 18 The Bitcoin price prediction shows that BTC continues to drop below the moving averages and on top of critical support level of $41,000. BTC/USD Long-term Trend: Bearish (Daily Chart) Key levels: Resistance Levels: $46,500, $48,500, $50,500 Support Levels: $37,500, $35,500, $33,500 BTCUSD – Daily Channel Buy Bitcoin Now BTC/USD … Read moreBitcoin Price Prediction: BTC/USD Establishes A Low At $41,287

TA: Bitcoin Key Indicators Suggest A Strengthening Case For Move Below $40K

Bitcoin failed to stay above the $43,000 support against the US Dollar. BTC is trading in a bearish zone and could continue to move down below $41,200. Bitcoin is struggling to climb above the $42,500 and $42,800 resistance levels. The price is trading below $43,000 and the 100 hourly simple moving average. There is a … Read moreTA: Bitcoin Key Indicators Suggest A Strengthening Case For Move Below $40K

Bitcoin Price Prediction: BTC/USD Finally Drops Below $42,000

bitcoin price prediction btc usd finally drops below 42000

Bitcoin Price Prediction – January 17 The Bitcoin price prediction breaks below $42,000 support as bearish sentiment kicks into full speed within the market. BTC/USD Long-term Trend: Bearish (Daily Chart) Key levels: Resistance Levels: $47,000, $49,500, $51,500 Support Levels: $38,500, $36,500, $34,500 BTCUSD – Daily Chart Buy Bitcoin Now BTC/USD is bearish as the market … Read moreBitcoin Price Prediction: BTC/USD Finally Drops Below $42,000

TA: Bitcoin Price Consolidates, Why Break above $43.5K Is The Key

Bitcoin started a downside correction from $44,500 against the US Dollar. BTC is stable above $42,800 and the bulls might aim a fresh increase above $43,500. Bitcoin is trading in a positive zone above $42,500 and $42,800. The price is trading below $43,500 and the 100 hourly simple moving average. There is a key contracting … Read moreTA: Bitcoin Price Consolidates, Why Break above $43.5K Is The Key

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