Bitcoin (BTC) is holding steady around the $46,000 support level as oversold signals appear on the charts. This means short-term buyers could remain active into the Asia trading day, although upside appears to be limited toward $50,000.The tight trading range over the past two weeks coincided with slowing price momentum. Typically, trading volume declines when prices move … [Read more...] about Bitcoin Holds Short-Term Support at $46K; Resistance at $50K
ShortTerm
Ether Breaks Short-Term Bullish Trendline, Support Below $3.3K
Ether’s short-term pattern has turned bearish with the cryptocurrency finding acceptance under a crucial support.The native token of Ethereum’s blockchain fell more than 8% on Monday, falling below an uptrend line connecting July and September lows.Ether printed a UTC close under the widely-tracked 100-day moving average with the long-held support level of $3,900 turning into … [Read more...] about Ether Breaks Short-Term Bullish Trendline, Support Below $3.3K
Bitcoin Vulnerable to Rising Leverage Despite Short-Term Optimism
“During corrections, declining ASOL is a signal that investor confidence is improving, and fewer coins are spent,” blockchain data firm Glassnode tweeted on Wednesday. A confirmed trough in the ASOL indicator could point to a short-term market bottom similar to what occurred in July and October. Source link … [Read more...] about Bitcoin Vulnerable to Rising Leverage Despite Short-Term Optimism
Key data points suggest the crypto market’s short-term correction is over
The performance of cryptocurrencies in the past seven days might have seemed slightly unexciting, especially since the total market capitalization increased by “only” 1.8% to reach $2.7 trillion. However, even with the muted price action, some altcoins managed a decent rally. Bitcoin (BTC), on the other hand, was down 6% until Nov. 28, but it still managed to close the week up … [Read more...] about Key data points suggest the crypto market’s short-term correction is over
Bitcoin short-term setup is challenging, JPMorgan strategists warn
Bitcoin’s (BTC) weekend dance between $30,000 and $34,000 seems to strengthen the short-term uncertainty narrative, as JPMorgan strategists believe the cryptocurrency market is not yet healthy.A Friday note from the JPMorgan Chase team suggested that the near-term setup for Bitcoin still looks challenging. Based on the on-chain data, JPMorgan strategists said that “there is … [Read more...] about Bitcoin short-term setup is challenging, JPMorgan strategists warn