Bitcoin Must Hold Support After Dipping Below $30,000

Key Takeaways Bitcoin and Ethereum kicked off the weekly trading session in a precarious position. The bulls must hold BTC above $29,600 to avoid a 40% price drop. ETH needs to keep $1,700 as support to prevent a test of the 2018 all-time high. Share this article Roughly $98 billion has been wiped off the entire cryptocurrency market in the past 24 hours as Bitcoin dipped below $30,000, while Ethereum reached $1,700. The leading cryptocurrencies may be poised for lower lows. Bitcoin Sits on Thin Ice Bitcoin and Ethereum could…

Crypto joins stocks in ‘extreme fear’ after Bitcoin loses $30K support

Bitcoin (BTC) failed to regain $30,000 after losing support on July 20 as fear & greed indices raced each other to the bottom.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price stays below $30,000 waterline Data from Cointelegraph Markets Pro and TradingView showed BTC/USD continue trading in the $20,000-$30,000 zone on Tuesday. The largest cryptocurrency saw a turbulent night’s price action, abruptly adding to existing losses to seal 24-hour negative returns of -6%. The move came in tandem with a souring sentiment on traditional markets. The Fear & Greed Index,…

Ethereum Breaks Key Support, Why ETH Could Tumble To $1,500

Ethereum is gaining bearish momentum below $1,800 against the US Dollar. ETH price is likely to continue lower and it might even test the $1,500 level in the near term. Ethereum started a fresh decline and it even traded below the $1,850 support zone. The price is still trading well below the $1,800 resistance and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $1,820 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue lower…

Bitcoin price tumbles to ‘final support’ as trader warns of $24K BTC price target

Bitcoin (BTC) dropped to its “final support zone” above $31,000 on July 15 as a low grind downward brought fresh predictions of a BTC price crash. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Binance debacle spreads as $32,000 falls Data from Cointelegraph Markets Pro and TradingView showed BTC/USD hitting fresh local lows of $31,550 on Thursday. The pair had made little progress overnight, falling further as Italian lawmakers said that major exchange Binance was unauthorized to trade in their jurisdiction. The latest in a series of setbacks for the exchange, a…

Bison Trails provides infrastructure support to Provenance blockchain

Provenance will utilize Bison Trails’ infrastructure to strengthen its network and provide support to Hash holders to run validator nodes, according to June Ou, the executive director at Provenance Blockchain Foundation. Hash is the native cryptocurrency of the Provenance blockchain, serving both as a medium of payment as well as a governance token. “We’re proud to support Provenance in its mission to transform the financial services industry for the better,” said Joe Lallouz, Bison Trails’ CEO. “The launch of Provenance to a public Tendermint blockchain opens the door for the…

Bitcoin rebounds from $33K support as US dollar inflation comes back into focus

Bitcoin (BTC) prices steadied on Tuesday after closing the previous session at a 3.41% loss, supported by a weakening United States dollar sentiment ahead of a key U.S. inflation report due later on Tuesday. The spot BTC/USD exchange rate rose by a modest 1.31% to $33,096 after bottoming out on Monday at $32,996 on Coinbase. The CME Bitcoin Futures was up 1.64% from its previous session’s low of $32,600. Bitcoin Futures reclaimed the $33,000 support after briefly flipping it late Monday. Source: TradingView Meanwhile, the USD index was down about…

Bitcoin price dips below crucial $33K support as Bitfinex shorts jump by over 5,000 BTC

Bitcoin (BTC) fell below $33,000 support on July 8 as a trusted trading range risked getting invalidated. BTC/USD 1-minute candle chart (Bitstamp). Source: TradingView Trader: $31,000 retest next for BTC Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping into the $32,000 range during trading on Thursday. The move followed an overnight retracement from around $35,000, with Bitcoin failing to crack crucial resistance. With that, Bitcoin risks invalidating a bullish scenario which involves it entering the next stage of a Wyckoff distribution with potential to exit to the upside…

Bitcoin Price Reaches Key Support, Why BTC Could Start Fresh Increase

Bitcoin price is correcting gains from well above $35,000 against the US Dollar. BTC is approaching a major suppot near $32,350, where the bulls might take a stand. Bitcoin started a downside correction from the $36,650 zone. The price is now trading below $34,500 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $33,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to start a fresh increase as long as there is no…

Bitcoin bulls must now defend $33K support after 5% daily loss

Bitcoin (BTC) faced fresh losses on July 1 as attention focused on an impending test of an important  support zone.  BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView No price breakout for Bitcoin Data from Cointelegraph Markets Pro and TradingView tracked a 5% decline in BTC/USD overnight on Wednesday. As Cointelegraph reported, eyes are now on an area between $32,300 and $33,000 to provide a floor. On Thursday, popular trader Michaël van de Poppe reiterated the need for that zone to hold. The pair had reversed after reaching nearly $36,700, erasing most…

Elon Musk tweets his support over proposed Dogecoin changes

Elon Musk, the at-times controversial SpaceX founder and stop-and-go crypto supporter, voiced his support late Sunday for a set of major updates to the Dogecoin (DOGE) blockchain. The changes would drastically redesign the cryptocurrency’s software architecture and alter its token economics. The popular “joke crypto” appears to be gearing up to become a serious utility coin after a massive influx of capitalization earlier this year. It remains to be seen whether the updates Musk supports would be good or bad for the coin’s holders should they be adopted. In a Reddit…