Bitcoin price charts hint $11K will likely cause trouble for BTC bulls

While Bitcoin (BTC) has been showing weakness in recent weeks as BTC price dropped from $12,000 to $10,000, some light at the end of the tunnel is showing up. The price of Bitcoin showed support at the psychological barrier of $10,000 and bounced numerous times as it’s already close to $11,000. Most importantly, can Bitcoin break through this crucial area and continue its bullish momentum? Bitcoin holds $10,000 to avoid any further correction on the markets The price of Bitcoin couldn’t hold above $11,100 at the beginning of September and…

Likelihood of Bitcoin Setting “Higher Highs” Grows as Bulls Build Momentum

Bitcoin has flashed some signs of intense strength throughout the past day, with the cryptocurrency recouping some of the losses that came about as a result of its decline from $12,400 to lows of $9,900. Bulls now appear to be aiming for a move up towards $11,000, which previously held strong as a level of support during its descent. If this resistance level is flipped back into support, it could provide a strong base for the cryptocurrency to rebound off of, potentially allowing BTC to reclaim its long-held position within…

Ethereum Lacks Momentum Above $370: Here’s Why Bulls Are Comfortable

Ethereum failed to continue high above $390 against the US Dollar. ETH price is currently trading above a crucial support at $350, below which it could turn negative. Ethereum declined below the $375 support after it failed near the $390 level. The price is now trading below the 100 hourly simple moving average, but it is well above $350. There is a crucial bullish trend line forming with support near $358 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay above the $350 support level…

It’s Make or Break for Ethereum Bulls as ETH Nears Critical Resistance

Ethereum is flashing some signs of strength today as it inches higher while caught within a short-term consolidation phase. This consolidation trend came about after the cryptocurrency rallied to highs of $380 before facing some heightened selling pressure that caused its price to retrace back down towards $360. It is now trading squarely between these two levels, with buyers and sellers largely reaching an impasse as they both attempt to gain control over the cryptocurrency’s near-term outlook. This sideways trading bout has come about, in part, due to that seen…

This Accumulation Pattern Suggests Bulls Are On The Right Side Of Bitcoin

Bitcoin price may be down compared to it was just weeks ago, but it is not out. Bulls are fighting hard and have been keeping $10,000 as unbreakable on the way back down as it was on the way up. With each touch of the key resistance turned support, the cryptocurrency’s price action more closely resembles that of a Wyckoff accumulation schematic. If that’s the case, the crypto asset is being absorbed by smart money and whales, and mark up could come next. Bitcoin Bulls Defending $10,000 Support, Or Is…

Bitcoin’s Recent Drawback May Mark a Bullish Retest as Bulls Defend $10,000

Bitcoin is currently showing some serious signs of strength. The benchmark cryptocurrency has flown past its $10,400 resistance and is now en route to setting fresh weekly highs. This marks a notable rebound from lows of $9,900 that were set on multiple occasions throughout the past couple of weeks. The buying pressure between this level and $10,000 was rather significant, as it was defended on multiple occasions by buyers keen on maintaining BTC’s mid-term market structure. It now appears that the crypto is poised to see further upside in the…

Ethereum Rallies 10%, But The Bulls Still Need To Clear This Hurdle

Ethereum started a strong recovery wave above the $350 resistance against the US Dollar. ETH price is up over 10%, but it must still break the $370 resistance for upside continuation. Ethereum gaining traction above the $340 and $350 resistance levels. The price is now well above the 100 hourly simple moving average, but it is facing hurdles near $370. There was a break above a major bearish trend line with resistance near $340 on the hourly chart of ETH/USD (data feed via Kraken). The pair must surpass the $370…

Lucky Number 7? Bitcoin Bulls Defend $10,000 Support A Week Straight

Bitcoin price has fallen by over $2,000 from its 2020 high and is currently struggling to hold support above $10,000. Or is the other way around, and bulls have been valiantly defending the key support level on daily timeframes? Zooming out further shows yet another critical retest in progress, and one that could potentially last the entire month of September  – a month that has historically been red for the cryptocurrency. Bitcoin Bulls Defend Support At $10,000 For Seven Days Straight It is not easy to tell from price action,…

Bitcoin is Plunging, But It’s Too Early to Say Bulls Have Given Up

Bitcoin price started a sharp decline from the $12,000 resistance against the US Dollar. BTC must stay above $11,200 and $11,000 to remain in a positive zone. Bitcoin failed to gain pace above the $12,000 resistance level, and started a sharp decline. The price is down over 5%, and it broke the $11,500 support and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $11,640 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is…

Chainlink Bulls May Target $19.00 as Long as They Hold One Key Level

Chainlink has been flashing some signs of strength throughout the past few days and weeks, with the cryptocurrency’s securing a relatively strong foothold above the $17.00 region following its latest surge. It has established the upper-$17.00 region as resistance, as a rally up to this area earlier today was followed by a strong rejection that sent the crypto plunging to lows of $16.50. Bulls are now ardently defending against a dip below the $17.00 region, as a confirmation of this level as support may provide it with enough momentum to…