"paid crypto" - Google News
[unable to retrieve full-text content] 6 NFL players who got paid in Bitcoin and cryptocurrency For The Win
Bitcoin Price Prediction: Brace For a Major BTC Pullback - InvestingCube
The Bitcoin price is crashing today as investors rush to take profit after it reached its all-time high of $64,945. The BTC has dropped by more than 5% from this high and is currently trading at $61,300. Its market cap is at more than $1.16 trillion.
What happened: Bitcoin has been in a strong rally this week. This performance was mostly because of the mainstreaming of digital currencies as Coinbase went public. Also, there are signs that demand for the digital currency has risen in the past few months.
However, after surging to an all-time high, BTC price has struggled. This is in line with what I predicted on Wednesday. In my article, I forecasted that the price would retreat because of the buy the rumour, sell the news situation. This is where investors buy an asset ahead of a key event and then exit it after the event happens. We also saw the situation this week when the US dollar declined after the strong US inflation numbers.
Advertisement
Why it matters: If you have followed Bitcoin price in the past, this price action is nothing new. In the past, the currency tends to struggle slightly below a key resistance like $65,000, $60,000, and $55,000. This happens mostly because of profit-taking since many traders place take-profits at these levels. Also, BTC rallies tend to pause after making a strong rally. So, how will the Bitcoin price trade during the weekend?
Bitcoin price weekend prediction
If you follow Bitcoin, you know that significant market actions usually happens during the weekend. Furthermore, the stock and forex market never trades during this period. Looking at the daily chart, we see that the Bitcoin price has formed a rising wedge pattern that is shown in black.
In technical analysis, this is usually a bearish signal, as my colleague noted yesterday. This wedge is nearing its level of confluence. Therefore, in the near term, we should not rule out a major decline of the BTC prices. The question is, will this action happen during this weekend? Probably not but it could happen next week.
Don’t miss a beat! Follow us on Telegram and Twitter.
BTC price chart
More content
Popular posts from this blog
Binance.US Taps Former New York Fed Compliance Chief for Board Role - CoinDesk
"It's, of course, true that our our trading volumes took a significant hit following the SEC's case and in our transition to a crypto only exchange," Binance.US COO Chris Blodgett said, adding that, "the last two quarters have seen very strong rebounds in volume, revenue and user engagement across the platform, due in part to the "broader market recovery."
Cryptocurrency in the Time of Crisis: What to Expect - hackernoon.com
Cryptocurrency in the Time of Crisis: What to Expect - hackernoon.com Cryptocurrency in the Time of Crisis: What to Expect - hackernoon.com Some US Citizens Look to Be Splashing Their Stimulus Cash on Cryptocurrency - CoinDesk FBI Warns of 4 Cryptocurrency Fraud Schemes tied to COVID-19 - KCBD Cryptocurrency in the Time of Crisis: What to Expect - hackernoon.com Posted: 19 Apr 2020 12:32 PM PDT Start Writing Start Writing Top Stories 0 AI Artificial Intelligence Data Data Science Deep Fakes Deep Learning Hierarchy of Needs Machine Learning Myth Busting Neural Networks Thing Label-er What AI Sees The Future of AI As a Service In 5 Years In 50 Years In 500 Years Bots Chatbots Digital Marketing Media Showdown vs. Humans Ways in Which Machines Learn Crypto Blockchain Adoption Application By 2027 Chainsplaining Decentralization De
Maduro Plans to Give Venezuelan Pensioners Petro as Christmas Bonus - Bitcoin News
Maduro Plans to Give Venezuelan Pensioners Petro as Christmas Bonus - Bitcoin News Maduro Plans to Give Venezuelan Pensioners Petro as Christmas Bonus - Bitcoin News Crypto Swapping App Sideshift AI Drops Access Code Requirement - Bitcoin News Bitcoin Casino MintDice extends Investment Opportunities for its players - Coinnounce Maduro Plans to Give Venezuelan Pensioners Petro as Christmas Bonus - Bitcoin News Posted: 20 Nov 2019 06:56 PM PST Regional news outlets from Venezuela have revealed that President Nicolás Maduro plans to dole out petro as a 'Christmas bonus' for Venezuelan retirees and pensioners. Moreover, despite the fact that many Venezuelans say average citizens don't use the petro, Maduro also claims there are 27,000 petro affiliated businesses. Also read: Indian Supreme Court Wraps up Crypto Hearing for the Year Venezuelan Pensioners' Christmas Bonuses to Be Paid in Petro The Venez
Comments
Post a Comment