bitcoin price

Bitcoin price analysis: This bounce needs to sustain

BTC/USD is down 0.3 percent at $8,445 after bouncing from the low of $8,338 at which point it was down nearly 2 percent. On the daily chart, BTC’s Saturday lows is $8,220 few dollars above the 50 percent fibonacci retracement of this entire rise from April lows, which is a significant support.

For this bounce to sustain Bitcoin should now try and target $8,604 which is 38.2 percent fibonacci retracement level only then can bulls come out of their hidings and show a brave face to bounce back above $9,000. Having said that, on the intra day 15-minute charts there are multiple resistances above $8,450 mark which would be a tough nut to crack in a low volume Sunday trading.

Bitcoin faces ‘death cross’ after falling below $9 000

Bitcoin’s plunge back below $9,000 has the cryptocurrency facing a dreaded death cross. This occurs when the 50-day moving average breaks below its 200-day counterpart on a closing basis. As the name implies, it’s considered a bearish development.

This would be the first death cross for Bitcoin since 2015.

To be sure, there are some countervailing technical signals suggesting this event might not be so crippling. The 200-day moving average is still rising and served as intraday support Friday. In addition, Bitcoin is setting higher lows, with April’s trough higher than February’s.

The Epic Relation Between BTC Prices and the Stock Market

Inside the world of cryptocurrencies, some truths go unquestioned: 1) centralization is terrible, 2) fixed money supplies are great, 3) cryptocurrencies are uncorrelated from stocks.

The last “truth” is now in question.

Many analysts, myself included, have raised questions about Bitcoin following the stock market before, but none of us made the case as strongly as Forbes contributor Clem Chambers.

Chambers recently used intraday trade charts to show that Bitcoin prices often follow the same patterns as the Dow Jones Index. (Source: “Bitcoin Price Is Correlated To Stocks,” Forbes, May 8, 2018.)

In other words, he showed that Bitcoin and the Dow are connected.

Bitcoin Price Fails to Test $10,000 Again, Alternative Cryptocurrencies Also Drop

Analysts were optimistic in regards to the price trend of bitcoin, given that the bitcoin price increased from $6,500 to $9,900 within three weeks, supported by a gradual increase in volume and demand. The consistent recovery of bitcoin allowed the Relative Strength Index (RSI) and Williams’ Percent Range (WPR) to demonstrate a neutral zone, showing neither overbought or oversold conditions.

However, as it did in its previous attempt, the bitcoin price failed to remain above $10,000 mark after briefly testing it on May 5. In other major markets such as Hong Kong and South Korea, the bitcoin price surpassed $10,000 due to their premium rates but in the US, the bitcoin price achieved $9,900 and fell back to $9,600.

At the time of reporting, the bitcoin price remains below $9,600 and it remains unclear whether bitcoin could initiate a new rally to eye an entrance into the $10,000 region. The RSI of bitcoin is currently 59.2, signifying a neutral zone. Both exponential and simple moving averages show a healthy short-term trend for bitcoin, demonstrating a strong buy signal.

Bitcoin’s Key Resistance Stands at $10,000/each

After a strong 4 wk Bull Run which has seen the total value of all crypto coins spike 72% to $460-B.

Bitcoin accounts for 36.1% of all coins is headed toward Key resistance at $10,000 and it’s 200-Day MA at $10,015, a closely watched technical gauge of momentum for tech traders.

Bitcoin hit an intra-day high of $9,790.94 Friday.

Currently, Bitcoin is trading at: 9,711.1055,+61.7705, or +0.64%, as of 1:22a BST, the market is closed

Bitcoin price analysis: BTC/USD capped by 200-DMA; expert predicts run towards $11,500

Bitcoin consolidates with mild upside bias after Tuesday’s stellar rise.
Bill Baruch expects BTC growth towards $11,500 shortly.
Bitcoin, cryptocurrency No.1, extended a stellar run on Wednesday to trade at $9,720. The bullish momentum led to the Bitcoin market cap increase by over $10B in a single day, reaching $165.5B.

BTC/USD broke above 100-DMA for the first time since the end of January, which makes the long-term picture look bullish enough for the experts to forecast an imminent run towards the next target of $11,500 in the nearest future.

Bitcoin Buy Demand Highest Since March 2017, Exchange Data Shows

Linking to data from TurtleBC, p2p exchange HodlHodl described the trend as “indicating there is more demand for Bitcoin than supply.”

“This is also an indicator of market sentiment among those who are buying and selling Bitcoin,” it added.

A 90-10 ratio effectively means that 90% of the interested investors are vying for the Bitcoin of the remaining 10%.

Despite prices nose-diving since the cryptocurrency’s all-time highs of near $20,000 in December 2017, not even those heights produced such investor demand.

Bitcoin price rises $500 in 24 hours, causing ethereum and other cryptocurrency markets to surge in value

The price of bitcoin has shot up by almost $500 over the last 24 hours, causing a market-wide cryptocurrency resurgence that has seen ethereum, ripple and bitcoin cash surge in value by between 10 and 20 per cent.

Bitcoin’s latest gains come one week after bitcoin bucked months of steadily decreasing prices by rising more than $1,000 in the space of one hour.

The world’s most valuable cryptocurrency has since consolidated its gains and is now heading towards $9,000 for the first time since March. At the time of writing, bitcoin’s price was $8,516, according to CoinMarketCap.

Bitcoin, Ethereum, Ripple, Monero prices surge – is the train leaving the station again?

Todd Rowan, President and CEO of, thinks so.“Bitcoin is the current engine pulling the crypto train,” said Rowan.“It seems to have found traction post-tax season selloffs; this is good for everyone. Ethereum is finding strong support along with Ripple and others. Next week will tell us if we are leaving the station. We could be off for another bull run.”

Ben WayCEO of also thinks so. For ICO’s with real value, that is. “The train has definitely left the station for entrepreneurs trying to do an ICO on the back of a napkin,” he says. “However just like the shakeout in the dot-com bust, the ICO’s with real value and real technology and concepts will be in good shape… this happens in almost every market at some point, next we will see the same in AI and Robotics.”