Tuesday, November 5, 2024
cryptonews100
No Result
View All Result
CryptoNews100
No Result
View All Result
Home Bitcoin

Bitcoin bounce could give way to deeper pullback, chart analysts say

cryptonews100_tggfrn by cryptonews100_tggfrn
August 9, 2024
in Bitcoin
0
Bitcoin bounce could give way to deeper pullback, chart analysts say
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter
Sign up an get up to $1000 USDT!

Related articles

Cryptocurrencies rise as investors brace for U.S. presidential election, bitcoin reclaims $70,000

Cryptocurrencies rise as investors brace for U.S. presidential election, bitcoin reclaims $70,000

November 5, 2024

Binance, CZ file motion to dismiss SEC’s amended complaint

November 5, 2024


Bitcoin has clawed again most of its weekly losses after an 11% rally late Thursday, however it isn’t out of the woods but, in accordance to chart analysts. The flagship cryptocurrency is testing a key degree because it caps one in all its most unstable weeks of the yr. After dipping beneath $50,000 on Monday, it’s now buying and selling simply above $60,000, in accordance to Coin Metrics. Its weekly loss has narrowed to 3%. “Bitcoin received properly oversold after slicing by means of $53,000 [Monday], so a little bit aid is so as,” Ron Ginsberg, a chart analyst at Wolfe Analysis, informed CNBC. “I all the time discover it necessary to see how an asset responds to an oversold situation, as a result of that’s the actual inform.” If it could push by means of the present resistance, it will head for a take a look at of $70,000 on the way to new all-time highs, Ginsberg mentioned. Nevertheless, if the bounce struggles to maintain $60,000, there could be a retest of the lows from earlier within the week, he added, with a excessive likelihood it tumbles all of the way down to $40,000. Bitcoin has traded in a variety between $55,000 and $70,000 for a lot of the yr, after pulling again from its all-time excessive above $73,000. This week, it has been wavering over $56,500. It now wants to maintain that degree on a consecutive weekly closing foundation, Fairlead Methods’ Will Tamplin informed CNBC. “Our intermediate-term metrics for bitcoin level decrease, so we’d search for a bounce to give way to a deeper pullback” to close to $51,500, he mentioned. “A cyclical uptrend stays in place for bitcoin, though long-term upside momentum behind the uptrend has slowed due to its corrective part.”



Source link

Tags: AnalystsBitcoinBounceChartdeepergivePullback
Share76Tweet47
Drive and walk to earn crypto!

Related Posts

Cryptocurrencies rise as investors brace for U.S. presidential election, bitcoin reclaims $70,000

Cryptocurrencies rise as investors brace for U.S. presidential election, bitcoin reclaims $70,000

by cryptonews100_tggfrn
November 5, 2024
0

Bitcoin and USA flag on a cracked wall.Ruma Aktar | Istock | Getty PhotosCryptocurrencies have been larger on Tuesday, with...

Binance, CZ file motion to dismiss SEC’s amended complaint

by cryptonews100_tggfrn
November 5, 2024
0

Secondary market resales of crypto belongings lengthy after they have been first distributed by their builders will not be “securities”...

Dogecoin Pumps Following Elon Musk ‘D.O.G.E.’ Tweet

Dogecoin Price Flies While Bitcoin Falls as Elon Musk Continues Trump Push

by cryptonews100_tggfrn
November 5, 2024
0

With the U.S. presidential election taking middle stage this week, the worth of Dogecoin is rising as billionaire backer Elon...

Bitcoin (BTC) Mining Startup Promises Free Money to Renewable Energy Companies

Bitcoin (BTC) Mining Startup Promises Free Money to Renewable Energy Companies

by cryptonews100_tggfrn
November 5, 2024
0

That is the place bitcoin mining, Marr realized, can present a worthwhile answer. If a photo voltaic plant, or a...

Microsoft risks shareholder lawsuit if it ignores Bitcoin and prices rise — NCPPR

by cryptonews100_tggfrn
November 5, 2024
0

Microsoft has a “fiduciary responsibility” to do what's within the monetary pursuits of shareholders and knocking again Bitcoin might go...

Load More

Crypto Fear & Greed Index

Latest Crypto Fear & Greed Index

Recent News

TapSwap Daily Codes for November 5, 2024: Earn TAP coins and convert them to cryptocurrency |

TapSwap Daily Codes for November 5, 2024: Earn TAP coins and convert them to cryptocurrency |

November 5, 2024

VanEck lists PYTH ETN in Europe

November 5, 2024
Cryptocurrencies rise as investors brace for U.S. presidential election, bitcoin reclaims $70,000

Cryptocurrencies rise as investors brace for U.S. presidential election, bitcoin reclaims $70,000

November 5, 2024

Categories

  • Alt Coins
  • Bitcoin
  • Cardano
  • Chainlink
  • Cryptocurrency
  • Dogecoin
  • Elon Musk
  • Ethereum
  • Exchanges
  • Litecoin
  • Pokadot
  • Polygon
  • Shiba Inu
  • Solana
  • The FED
  • Uncategorized
  • VeChain
  • XRP

Download the official CryptoNews100 Android App! Click the button below:

Tags

ADA (1445) Analyst (1126) Bitcoin (6024) BTC (1281) bullish (775) Buy (906) Cardano (2448) ChainLink (1724) coin (857) crypto (5897) Cryptocurrency (2813) DOGE (1388) Dogecoin (2614) DOT (821) Elon (1228) ETF (936) ETH (1123) Ethereum (3462) gains (735) Heres (807) Inu (2466) investors (1054) Link (957) market (1894) MATIC (796) million (889) Musk (936) News (1381) Polkadot (1520) POLYGON (1521) prediction (861) Presale (1211) price (5028) rally (967) Ripple (1110) SEC (912) SHIB (1397) Shiba (2673) SOL (784) Solana (1564) Surge (1118) token (836) top (1623) VeChain (930) XRP (2720)

© 2023 Crypto News100 All Rights Reserved.
By visiting this website, you understand that the content provided within is for educational and entertainment purposes only. Nothing on this site may be constituted as financial advice and this site is not directing you to make any investments in cryptocurrency or in anything else. Thank you for visiting and please proceed responsibly.
As an Amazon Associate I earn from qualifying purchases.

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Alt Coins
    • Cardano
    • Dogecoin
    • Litecoin
    • Pokadot
    • Polygon
    • Shiba Inu
    • Solana
    • XRP
    • VeChain
  • Crypto Related DEALS

© 2023 Crypto News100 All Rights Reserved.
By visiting this website, you understand that the content provided within is for educational and entertainment purposes only. Nothing on this site may be constituted as financial advice and this site is not directing you to make any investments in cryptocurrency or in anything else. Thank you for visiting and please proceed responsibly.
As an Amazon Associate I earn from qualifying purchases.