Bitcoin's surprise volatility in late October failed to continue over the last week as the price drifted in a paltry 9.7% range. So far, it looks like it may be a failed retest of previous support. The altcoin marketcap shows little signs of life and hold relatively steady around $80 billion.
The price is forming a descend...
Traders bored with Bitcoin's compressed range can relish the nearly 43% surge in the price during last week. The bullish euphoria may be short-lived, though, as a view of the higher timeframes shows a retest of the lower bound of the summer's range.
Will this old support turn into resistance before a further drop? It...
Bitcoin continues to leave the market salivating in anticipation of its next move. The previous consolidation periods in April and May both lasted approximately four weeks - a period which we've just reached in this consolidation period.
This timing makes it more likely that the next crucial move is coming very soon....
Bitcoin continues to wobble in limbo near the $8200 mark in a 12% range. A break of resistance near the $8500 mark was met with rejection near $8815, near the previous $9000 support. This move may have been a retest providing short entries before a further drop, but the price continues to consolidate near $8300 for now.
Me...
Bitcoin wobbles in a tight 10% range after its massive plunge in late September. So far, it's found support in May and June's orderblocks, but price action is beginning to show classic signs of distribution in a market cycle.
Similarly, the altcoin marketcap has held relatively stable around $70 billion during the last wee...
Bitcoin's move that we've all been waiting for finally happened last week. After consolidating for nearly three months, Bitcoin dropped 23% over a few days before finding some stability in the weekly orderblock around $8,000.
This drop may be a shakeout before another move up, but bears currently have the upper hand....
Bitcoin's volume continues to taper off as the consolidation period continues. The descending triangle still has weeks to close, during which time we can expect to see traders continue to be chopped up in the consolidation.
Meanwhile, the altcoin marketcap saw a brief rally this past week, rising from approximately 80 bill...
An impending move draws closer as Bitcoin violently chops bears and bulls alike in the closing triangle. The probability of an upward breakout is slightly higher than a downward plunge since price rose into the current descending triangle, but the final direction is anyone's guess.
Meanwhile, the altcoin marketcap holds re...
Bitcoin continues to trudge along in a relatively small ~12% range as it paints a descending triangle on the daily. When the price rises into this pattern (as it did), the odds of an upward breakout increase.
However, the triangle does not close for a few more weeks, which means that the market may continue to stagnate whi...
Last week, Bitcoin broke the local support around $10,000 before a test of the daily orderblock forming support at $9,300. It remains to be seen whether the price can reclaim the pivot at $10,000, or whether the retest will fail and the price will drop lower for a stop run at or below $9,000.
The altcoin market cap continu...
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