Immediate support is seen at the 200-day moving average (around $46,700), which is also the bottom of a weeklong price range. Given negative momentum signals, however, bitcoin is at risk of breaking below support, which could damage the intermediate-term trend. Source link … [Read more...] about Bitcoin Drifts Lower; At Risk of Testing $40K Support
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First Mover Asia: Bitcoin Drifts Lower After Taproot Upgrade; Ether Drops
Good morning, Here’s what’s happening this morning:Market Moves: Bitcoin’s highly anticipated Taproot upgrade fails to produce any noticeable price pop.Technician’s take: Short-term upside appears to be limited given the loss of positive momentum.Catch the latest episodes of CoinDesk TV for insightful interviews with crypto industry leaders and analysis.PricesBitcoin (BTC): … [Read more...] about First Mover Asia: Bitcoin Drifts Lower After Taproot Upgrade; Ether Drops
Ethereum eyes 3-week winning streak vs. Bitcoin as BTC price drifts below $39K
Bitcoin (BTC) headed lower on Aug. 5 after an attempt to reclaim $40,000 failed to garner buyer support.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewAccumulation recalls October 2020Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dropping to local lows of $38,700 on Bitstamp, down around 1.5% in several hours.The largest cryptocurrency had … [Read more...] about Ethereum eyes 3-week winning streak vs. Bitcoin as BTC price drifts below $39K