Tony M.
FXStreet
Bitcoin price could be communicating what to expect throughout the Fall as bearish signals continue to advance during the final days of August,
Bitcoin price has fallen 20% since last week's $25,211 high was briefly established. The 20% decline has led the bears successfully breach the psychological $20,000 barrier. Traders may want to consider remaining sidelined as September has produced bearish market environments for the Bitcoin price four years in a row. Bitcoin's end-of-the-month decline could hint that the 5th consecutive year is imminent.
Bitcoin price currently auctions at $19,992. Based on Binance's exchange metrics, an intense amount of transactions have come into the market on the Volume Profile Indicator. Additionally, the Relative Strength Index still has sufficient cushion space. Combined, both indicators could warrant the idea that a market bottom is not yet in place.
BTC/USDT Monthly Chart
Last week a bearish trade thesis was issued with an entry point of $23,125 and an invalidation level of $27,000. Traders who partook in the forecasted move are in profit .8X risk capital. Invalidation should remain at $27,000 to avoid any last-minute liquidity hunts before the month ends.
In the following video, our analysts deep dive into the price action of Bitcoin, analyzing key levels of interest in the market. -FXStreet Team
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Ethereum Classic (ETC) price is trying to get its head around the current turn of market events after Fed Powell’s hawkish speech at Jackson Hole ast Friday.
Bitcoin price is lost in no man’s land after crashing below $22,000 on August 26. This sell-off was followed by a tight consolidation that led to another nosedive that has pushed BTC below its support trend line.
Bitcoin price is showing signs of pausing its downtrend with growing hints of a recovery. Investors need to wait for confirmation, however, before getting more seriously bullish. Ethereum and Ripple await the big crypto’s cue to do the same.
Bitcoin price is showing signs of pausing its downtrend with growing hints of a recovery. Investors need to wait for confirmation, however, before getting more seriously bullish. Ethereum and Ripple await the big crypto’s cue to do the same.
Bitcoin price shows a tight consolidation on a lower time frame – an ascending parallel channel – that repeats the motif of three larger channels that have developed on higher time frames since the start of 2022.
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