BTC price
Bitcoin ‘ready’ for $32.8K after consolidation as BTC price gains 6.3%
Bitcoin (BTC) stayed higher on May 30 as early week gains saw BTC/USD retain $30,500. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView $32,000, $35,000 flagged as lines in the sand Data from Cointelegraph Markets Pro and TradingView showed the largest cryptocurrency consolidating near $30,600 at the time of writing after hitting highs of $30,900 on Bistamp. Its best performance since May 16, the return to relative strength was welcomed by analysts, some of whom began to discuss the possibility of a range breakout. “Finally, Bitcoin is making the run upwards,” Cointelegraph contributor Michaël van de Poppe told Twitter followers. “Some more consolidation here and we’re ready to break further upwards in which $32.8K and $35K are the resistances. The moment that the market gets...
Bitcoin to set a new record 9-week losing streak with BTC price down 22% in May
Bitcoin (BTC) threatened to continue an unprecedented losing streak on May 29 as BTC/USD stayed in a right intraday range. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView Stocks correlation offers no comfort to BTC bulls Data from Cointelegraph Markets Pro and TradingView flagged the largest cryptocurrency heading for nine weeks of downtrend in a row — the most in history. Already at a dubious record, Bitcoin’s weekly chart closes provided the backdrop to weakness that continued to disappoint analysts over the weekend. Even stock markets, troubled by central bank tightening, managed to put in gains over the week, while Bitcoin and the majority of altcoins added to losses. “Most concerning has been the divergence between Equities and Crypto. S&P and NASDAQ ha...
Bitcoin price stuck below $29K as Terra LUNA comes back from the dead
Bitcoin (BTC) analysts faced another day of frustration on May 28 as BTC/USD refused to offer volatility up or down. BTC/USD 1-day candle chart (Bitstamp). Source: TradingView “Not the decoupling we wanted” Data from Cointelegraph Markets Pro and TradingView showed the largest cryptocurrency sticking in a narrow short-term range into the weekend. Previously forecast support levels to avoid a deeper correction managed to hold in the May 27 Wall Street trading session, but a bounce higher was similarly absent as commentators looked for fresh cues. “Short resistance and long support until one of them breaks. Keep it simple in ranges as they are there to engineer liquidity for trend continuation or reversals,” popular trading account Crypto Tony summarized in part ...
Bitcoin price returns to weekly lows under $29K as Nasdaq leads fresh US stocks dive
Bitcoin (BTC) fell on the May 24 Wall Street open as weakness in stocks saw sell-side pressure return. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Equities give crypto no respite Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it revisited its lowest levels of the past seven days. At the time of writing, BTC/USD traded at around $28,800 amid volatility, having hit $28,614 on Bitstamp — a zone last seen on May 18. The S&P 500 lost 2.4% on the open, while the Nasdaq 100 managed a 3.5% decline. Stocks once again controlling the price of #Bitcoin. What’s surprising is how well it’s holding up relatively though. Most stocks having way larger daily drops than $BTC. — IncomeSharks (@IncomeSharks) May 24, 2022 In a fresh Twitter update, ...
Bitcoin targets record 8th weekly red candle while BTC price limits weekend losses
Bitcoin (BTC) gave bears little joy over the weekend as the May 22 weekly close looked set to revolve around $30,000. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Waiting for Bitcoin to “make a decision” Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it held a narrow range after the Wall Street trading week. With volatility absent, traders hoped for a move to larger areas of support or resistance next. “Still wedged between the supply and demand zone .. Hoping for a break today so we have some juicy action to play with,” popular trader Crypto Tony summarized, noting upside and downside targets were around $27,900 and $31,000, respectively. Time for #Bitcoin to make a decision? pic.twitter.com/DEfNhuvnYa — Matthew Hyland (@MatthewHyland_) ...
Bitcoin ends week ‘on the edge’ as S&P 500 officially enters bear market
Bitcoin (BTC) struggled to recover its latest losses on May 21 after Wall Street trading provided zero respite. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price reflects drab stocks performance Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading at dipping below $28,700 into the weekend, subsequently adding around $500. Down 4.7% from the previous day’s $30,700 highs, the pair looked firmly rangebound at the time of writing after United States stocks indices saw a volatile final trading day of the week. The S&P 500, managed to reverse after initially falling at the open, nonetheless confirmed bear market tendencies, trading at 20% below its highs from last year. The S&P 500 has officially entered a bear market pic.twitter.com/N...
Bitcoin ‘death cross’ data hints 43% drop due in BTC price bear market
Bitcoin (BTC) may fall more than 40% from last week’s bottom, new data warns as one analyst confronts what he says is now a bear market. In a series of tweets on May 20, popular trader and analyst Rekt Capital argued that BTC/USD should dive to near $20,000 to conform to historical norms. Death cross BTC price target now $22,700 Much debate has surrounded the so-called “death cross” constructions on the Bitcoin chart. These involve the declining 50-period moving average (50MA) crossing under the 200MA. Often in the past, such an event has triggered considerable price downside, this then going on to mark what Rekt Capital calls “generational bottoms.” “More often than not, the depth of a $BTC correction pre-Death Cross is similar to retrace depth post-Dea...
Weaker dollar lifts Bitcoin to $30.7K as analyst eyes 60% BTC dominance
Bitcoin (BTC) hit 48-hour highs overnight into May 20 as U.S. dollar weakness gave bulls some much-needed respite. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Dollar strength declines after 20-year record Data from Cointelegraph Markets Pro and TradingView recorded a high of $30,725 for BTC/USD on Bitstamp. Still struggling to flip $30,000 to reliable support, the pair nonetheless avoided a deeper retracement, helping calm fears that last week’s $23,800 capitulation event did not mark the bottom. The U.S. dollar index (DXY) provided the background to Bitcoin’s relatively solid performance, this coming off two-decade highs to dip 2% in a week. This appeared to relieve some pressure on stock markets, the S&P 500 finishing May 19 down a more modest 0.58% compared to previo...
Bitcoin trades in $29K ‘no man’s land’ as Tesla ESG fallout routs stocks
Bitcoin (BTC) stayed $1,000 lower on May 19 after a grim trading session on Wall Street the day before put pay to further upside. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Musk blasts ESG “scam” after S&P 500 exit Data from Cointelegraph Markets Pro and TradingView showed BTC/USD circling $29,000 at the time of writing, having bounced at $28,600 on Bitstamp. The pair had declined in step with United States equities, with the S&P 500 particularly in focus as it set its largest intraday decline since June 2020. Drama over Tesla, which was removed from the index amid ongoing controversy, fuelled the poor performance. The firm’s CEO, Elon Musk, publicly rebuked those behind the decision, which appeared tied to adherence to so-called environmental, social and gove...
Bitcoin stays under $30K as LUNA gains 600% during ‘insane volatility’
Bitcoin (BTC) failed to reclaim $30,000 into May 14 as traders looked forward to a relatively stable weekend. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitfinex longs gather strength Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it lingered below the $30,000 mark, now rapidly becoming resistance. The pair had reached just shy of $31,000 before retracing, while the end of the traditional market trading week had been accompanied by fresh warnings of a new macro low still to come. #Bitcoin – Looks like we might get the inverse H & S before going into the weekend. Hoping to see this 4h candle hold and see it push up. Then I’ll move stops in profit and let it ride during the weekend. 2% risk, 2% stop loss. pic.twitter.com/lxRuk3M43G — ...
Bitcoin falls below $27K to December 2020 lows as Tether stablecoin peg slips under 99 cents
Bitcoin (BTC) fell out of its long-term trading range on May 12 as ongoing sell pressure reduced markets to 2020 levels. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Tether wobbles as UST stays under $0.60 Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it exited the range in which it had traded since the start of 2021. At the time of writing, the pair circled $26,700 on Bitstamp, marking its lowest since Dec 28, 2020. The weakness came as fallout from the Terra stablecoin meltdown continued to ricochet around crypto and beyond, with rumors claiming that even professional funds were experiencing solvency issues due to losses on LUNA and UST. “People are still processing this but this is the Lehman moment for crypto” Hearing about a lo...
Terra ‘rescue plan’ still at large as LUNA falls below $5, Bitcoin spikes to ‘$138K’ in UST
Panic appeared to set in on crypto markets overnight on May 11 as Blockchain protocol Terra failed to steady its bleeding cryptoassets. Data from Cointelegraph Markets Pro and TradingView showed both the firm’s in-house token, LUNA and stablecoin, TerraUSD (UST) seeing fresh heavy losses on the day. A dubious new “all-time high” for Bitcoin After a mass sell-off which some argued was “coordinated” to destroy the Terra ecosystem, UST lost its peg to the U.S. dollar. Attempts to shore up the peg with both LUNA and Bitcoin (BTC) reserves failed, and as uncertainty gripped the market, both UST and LUNA dived to levels unimaginable just days previously. Getting close … stay strong, lunatics — Do Kwon (@stablekwon) May 10, 2022 Co-founder Do Kwon said that a “recove...
