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Cryptocurrencies

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Technical Analysis – BTCUSD steady near 50-SMA; bias negative

Posted on July 26, 2023 at 1:31 pm GMT

BTCUSD (Bitcoin) switched to silent mode after Monday’s plunge to a one-month low of 28,842, with the price trading almost flat over the past two days. The latest pullback followed a rejection near the 30,000 psychological mark and the 20-day simple moving average (SMA) but the 50-day SMA managed to minimize losses around 29,136. Nevertheless, the technical indicators keep favoring the bears at the moment, promoting a continuation lower as the RSI is extending its downtrend below its 50 neutral mark [..]

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Technical Analysis – BTCUSD sustains monthly neutral status

Posted on July 20, 2023 at 10:21 am GMT

BTCUSD (Bitcoin) has been range bound between 31,450 and 29,550 for a month now. This is a familiar range territory, which the popular crypto used to visit occasionally during the previous two years. The Stochastic oscillator is looking to pivot northwards in the oversold region, flagging a potential upside reversal. That said, the RSI and MACD are sustaining a negative trajectory, keeping optimism for an upside correction low after the price dropped below the 20-day SMA. The bulls will need [..]

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Bitcoin uptrend remains stalled around $30,000 amid ongoing caution – Cryptocurrency News

Posted on July 13, 2023 at 8:07 am GMT

Bitcoin has been consolidating as the June rally catches its breath, coinciding with a similar pause on Wall Street for US equities. Concerns about central banks’ unwavering higher for longer stance has dented risk appetite lately, as bond yields have spiked globally, eroding the appeal of not just risk assets, but also safe havens such as gold.    Inflation is on the way down, but… Investors have had to weigh encouraging data pointing to declining inflation and receding risks of [..]

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Bitcoin retreats from 13-month peak on fears of further rate hikes – Cryptocurrency News

Posted on July 7, 2023 at 11:23 am GMT

After a period of choppy trading in which Bitcoin remained flat comfortably above the $30,000 psychological mark, Thursday’s events brought back some volatility. On that day, the king of cryptos stormed to a fresh 13-month high of $31,500 before retreating lower on the back of a significantly stronger-than-expected ADP employment report. As positivity driven by institutional interest is fading due to regulatory and macroeconomic concerns, what does the second half of 2023 hold for cryptocurrencies? Tremendous half despite adverse backdrop [..]

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Technical Analysis – ETHUSD pulls back from 2-month peak

Posted on July 6, 2023 at 1:48 pm GMT

ETHUSD (Ethereum) had been in a steady advance since mid-June, posting a fresh two-month high of 1,976 on Monday. However, the digital coin quickly surrendered some gains, with the bears currently attacking the 1,900 region. The momentum indicators currently suggest that bullish forces are subsiding but have not totally surrendered yet. Specifically, the stochastic oscillator is ticking down near its overbought zone, while the RSI is losing some ground but holds comfortably above its 50-neutral mark. Should sellers try to push [..]

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Bitcoin in tight range above $30,000 as optimism wanes – Cryptocurrency News

Posted on June 30, 2023 at 11:53 am GMT

This week has been a relatively quiet one for Bitcoin and cryptocurrency markets in general as investors have been in a standby mode, waiting for the Securities and Exchange Commission’s (SEC) decision on the recently filed spot-Bitcoin ETF applications. Bitcoin has been trading sideways, slightly beneath its recent one-year high of $31,416 but above the $30,000 psychological mark, reflecting a cautious optimism over increasing institutional interest. Is the king of cryptos ready for another bullish breakout? High hopes but no concrete evidence [..]

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Bitcoin claims $30,000 amid increasing institutional interest – Cryptocurrency News

Posted on June 23, 2023 at 11:25 am GMT

Bitcoin is set to record one of its best weekly performances in the year, rebounding strongly from its recent lows to post a fresh two-month high of $30,772 before paring some gains. This exponential advance comes on the back of a surge in instructional interest after several Wall Street giants filed for Bitcoin ETF applications. However, uncertainty could remain high as long as regulators have not yet taken a clear stance over the future of these financial instruments. Wall Street boosts [..]

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Technical Analysis – Bitcoin breaks downward sloping resistance line

Posted on June 21, 2023 at 2:05 pm GMT

BTCUSD (Bitcoin) entered a rally mode on Tuesday, breaking above the resistance (now turned into support) barrier of $27,400, which coincides with the 23.6% Fibonacci retracement level of the September 2022 – April 2023 up leg. The rally also took the crypto above the downward sloping resistance line drawn from the peak of April 14, a move likely signaling the continuation of the prevailing uptrend, marked by the upside support line taken from the low of December 30. The RSI [..]

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Bitcoin drops to 3-month low after hawkish Fed remarks – Cryptocurrency News

Posted on June 16, 2023 at 11:48 am GMT

Bitcoin and major altcoins have been experiencing another tough and volatile week, with the king of cryptocurrencies posting a fresh three-month low on Thursday mainly on the back of a more hawkish than expected FOMC meeting. Apart from that, the US regulatory crackdown continues to rattle the sector, while AI mania continues to steal the limelight as the most innovative trend in markets. Will cryptocurrencies manage to turn the tables? Macro catalysts weigh on cryptos During this week, we saw [..]

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Technical Analysis – BTCUSD trades sideways, bearish pattern remains intact

Posted on June 14, 2023 at 1:39 pm GMT

BTCUSD (Bitcoin) has been generating a structure of lower highs and lower lows after peaking at the 11-month high of 31,064 in mid-April. However, the price has been rangebound in the past week, waiting for developments that could provide fresh directional impetus. The momentum indicators are currently well within their negative territories, but they are also suggesting that positive momentum is picking up. Specifically, the stochastic oscillator posted a bullish cross just shy of the 20-oversold mark, while the RSI ticked up [..]

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