Bitcoin 

Bitcoin Price in ‘Golden Pocket’ as Trader Warns of $7,400 Breakdown

Bitcoin (BTC) failed to reclaim $8,500 on Nov. 18 as market sentiment continued trending downwards over the weekend. Cryptocurrency market daily overview. Source: Coin360 Bitcoin hovers at decisive $8,400 level Data from Coin360 showed BTC/USD attempting to crack the $8,500 level on Monday, only to see rejection after falling from $8,600 late on Sunday.  At press time, the pair traded around $8,450 – a crucial area which analysts suggest could dictate whether the mood going forward is bullish or bearish.  Bitcoin daily price chart. Source: Coin360 “Do or die for…

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Bitcoin 

Bitcoin Falls Below $9,000 as Price Teases Trading Corridor Breakdown

Bitcoin (BTC) price lost support at $9,000 on Nov. 8 after several days of downward action finally saw markets make a decisive move. Data from Coin360 showed BTC/USD breaking out of its narrow trading corridor between $9,000 and $9,500 on early Friday.  Bitcoin flickers bearish That corridor had broadly characterized the largest cryptocurrency since the end of October. A brief spurt beyond to $9,520 was soon met with resistance, while a dip into the $8,000 range was also short lived. In daily trading, Bitcoin hit local lows of $8,980 before…

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Bitcoin 

Bitcoin’s Breakdown Will Take ‘Weeks, If Not Months’ to Rebound, Says Fundstrat Analyst

lt will take “weeks, if not months” to repair the “technical damage” caused by the recent collapse of Bitcoin (BTC), according to a Fundstrat Global Advisors analyst, Bloomberg reports today, Nov. 15. In a note to clients yesterday, cited by Bloomberg, Fundstrat’s Rob Sluymer predicted that Bitcoin’s collapse yesterday has pushed crypto markets into a “deeply oversold” area, while “longer-term technical indicators aren’t so favorable.” Sluymer concluded that Bitcoin will be able to support a “multi-month rally,” but only after the “significant” damage done this week has been overcome: “This…

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