The relative strength index (RSI) on the four-hour chart declined near overbought levels, similar to what occurred in late December, which preceded a pullback in price. Buyers will likely remain on the sidelines until oversold conditions materialize, most likely over the next few days. Source link … [Read more...] about Bitcoin Stalls Near Resistance; Support Around $40K-$42K
Stalls
First Mover Asia: Bitcoin Rally Stalls After US Central Bank Chair’s Comments; Ether Rises
Good morning. Here’s what’s happening this morning:Market moves: Bitcoin dropped on U.S. Fed Chair Powell’s comment, while ether gained more market share.Technician’s take: Support levels remain intact, which could establish a tight trading range between $55,000-$60,000 BTC into the Asian trading day.Catch the latest episodes of CoinDesk TV for insightful interviews with crypto … [Read more...] about First Mover Asia: Bitcoin Rally Stalls After US Central Bank Chair’s Comments; Ether Rises
Bitcoin Rally Stalls; Could Find Support at $63K-$65K
Bitcoin (BTC) is giving up some gains after reaching an all-time high near $68,500 on Monday. The cryptocurrency is overbought on intraday charts, although support around the $63,000-$65,000 range could stabilize a pullback.The relative strength index (RSI) on the four-hour chart is the most overbought since Oct. 20, which preceded a near-10% price decline. Still, pullbacks … [Read more...] about Bitcoin Rally Stalls; Could Find Support at $63K-$65K
Analysts See Further Upside in Ether as Bitcoin Stalls
Prior to 2021, bitcoin’s three-month implied volatility (IV) – investors’ expectation of how turbulent prices will be over the ensuing three months – spiked during both bull and bear runs, according to data from crypto data firm Skew. But this year, a similar spike only occurred when the market crashed in May. Source link … [Read more...] about Analysts See Further Upside in Ether as Bitcoin Stalls
Long-Term Bitcoin Holders Trim Positions as Rally Stalls
MarketsStill, blockchain data show bitcoin holder positioning is consistent with the early stage of a bull market, one firm says.By Damanick Dantes, Helene BraunOct 26, 2021 at 8:34 p.m. UTCUpdated Oct 26, 2021 at 9:59 p.m. UTCBitcoin 24-hour price chart (CoinDesk) Source link … [Read more...] about Long-Term Bitcoin Holders Trim Positions as Rally Stalls