#BTC hourly chart shows a bearish price RSI divergence, RSI has also breached the ascending trendline.
Could yield a drop to 200-hour MA located at $8380.
Could yield a drop to 200-hour MA located at $8380.
#BTC
OUTLOOK: Neutral
Failed inverse H&S breakout + ascending trendline breached, could drop to $8,100.
Bear grip will strengthen if BTC drops below the falling trendline support.
OUTLOOK: Neutral
Failed inverse H&S breakout + ascending trendline breached, could drop to $8,100.
Bear grip will strengthen if BTC drops below the falling trendline support.
#BTC daily chart
Bullish: 5,10DMA has bottomed out, so break above $8,408 would allow re-test of $8,644. A break higher would expose 100DMA of $8,858
Bullish: 5,10DMA has bottomed out, so break above $8,408 would allow re-test of $8,644. A break higher would expose 100DMA of $8,858
📰 A Bank In Argentina Is Now Using Bitcoin for Cross-Border Payments
Argentina's Banco Masventas has revealed that it will enable customers to send cross-border payments using bitcoin.
A partnership with Latin America-focused exchange startup Bitex, founded in 2014, the news finds the regional bank using bitcoin as a payments rail in international transactions as an alternative to Swift.
Bitex chief marking officer says this marks the first time that a domestic bank has adopted bitcoin for cross-border payments.
Argentina's Banco Masventas has revealed that it will enable customers to send cross-border payments using bitcoin.
A partnership with Latin America-focused exchange startup Bitex, founded in 2014, the news finds the regional bank using bitcoin as a payments rail in international transactions as an alternative to Swift.
Bitex chief marking officer says this marks the first time that a domestic bank has adopted bitcoin for cross-border payments.
#BTC
OUTLOOK: Bearish
Drop to $7,787 (61.8% Fib retracement) likely as bears in control after inverse H&S breakout failure and close below $8K (weakest since April 17)
5,10DMA and RSI biased bearish
OUTLOOK: Bearish
Drop to $7,787 (61.8% Fib retracement) likely as bears in control after inverse H&S breakout failure and close below $8K (weakest since April 17)
5,10DMA and RSI biased bearish
hourly chart RSI and 4-hour chart RSI shows oversold conditions.
So, #BTC will likely defend support at $7,787 - 61.8% Fib
So, #BTC will likely defend support at $7,787 - 61.8% Fib
#BTC is attempting recovery on the back of bull price-RSI divergence
But, upside is being capped by immediate resistance at $7,925 (May 18 low). A break higher would expose descending trendline, currently seen at $8,034.
But, upside is being capped by immediate resistance at $7,925 (May 18 low). A break higher would expose descending trendline, currently seen at $8,034.
#BTC
Sustained break above $7,925 remains elusive.
So, bull divergence isn't yielding a notable corrective rally, which is usually the case when bearish sentiment is strong.
Last hourly candle failed to penetrate $7,925 and current candle is reporting losses...
Sustained break above $7,925 remains elusive.
So, bull divergence isn't yielding a notable corrective rally, which is usually the case when bearish sentiment is strong.
Last hourly candle failed to penetrate $7,925 and current candle is reporting losses...
#BTC
OUTLOOK: Bearish
Close yesterday below 61.8% Fib in a convincing manner, also closed below channel support, signaling bearish breakdown.
5,10MA is biased bearish.
Could drop below $7495 (session low) and extend losses towards $7,188 (76.4% Fib).
OUTLOOK: Bearish
Close yesterday below 61.8% Fib in a convincing manner, also closed below channel support, signaling bearish breakdown.
5,10MA is biased bearish.
Could drop below $7495 (session low) and extend losses towards $7,188 (76.4% Fib).
hourly chart shows #BTC has created a bear flag. A downside break would allow a drop to $7K (target as per the measured height method).
CryptoBullet
hourly chart shows #BTC has created a bear flag. A downside break would allow a drop to $7K (target as per the measured height method).
#BTC bear flag breakdown confirmed, looks like we are heading towards $7K
The 50-hour, 100-hour and 200-hour moving averages (MAs) are biased to the bears. Meanwhile, the relative strength index (RSI) has dropped close to the oversold region (30.00), but is holding well above the lows seen yesterday, indicating there is enough room for a drop to $7,000.
Weekly chart shows #BTC is trading below 50-week MA - the average acted as strong support in late March/early April (marked by circle).
We could be in for a serious sell-off if the current weekly candle closes below 50-week MA.
We could be in for a serious sell-off if the current weekly candle closes below 50-week MA.
📰 US Government Opens Criminal Probe into Bitcoin Price Manipulation
The United States Department of Justice (DOJ) has reportedly opened a criminal investigation into possible market manipulation of prices of cryptocurrencies including bitcoin by traders.
DOJ is working alongside the Commodities and Futures Trading Commission (CFTC), the markets regulator, to focus on illegal trading activities in cryptocurrency markets.
The United States Department of Justice (DOJ) has reportedly opened a criminal investigation into possible market manipulation of prices of cryptocurrencies including bitcoin by traders.
DOJ is working alongside the Commodities and Futures Trading Commission (CFTC), the markets regulator, to focus on illegal trading activities in cryptocurrency markets.
Forwarded from #OnPointCrypto VIP
This harsh rejection of the 8200 zone and weekly volume increase looks like we may be seeing the beginning of the continued downward trend to as low as $3000 to complete emotional cycle. 61.8 fib didnt hold so thats usually a major sign for BTC to be not bullish.
3k has been on the table as a possibility and now as we leave the cloud again and reject 8200 it looks like that possibility may happen over the next few months
How the market reacts to this selloff is crucial
4-6 hr momentum wants to shift and we will likely see a run to $8000 -8200 zone but I think we will see rejection again and I am leaning bearish looking for tops to sell until we see something convincing that bulls are in control
Even if we rally above 8200 and into the cloud again on the daily we will still be in a consolidation triangle until a sustained support above 10k with a higher high
Weekly and 2 week momentum also turning down showing weakness
3k has been on the table as a possibility and now as we leave the cloud again and reject 8200 it looks like that possibility may happen over the next few months
How the market reacts to this selloff is crucial
4-6 hr momentum wants to shift and we will likely see a run to $8000 -8200 zone but I think we will see rejection again and I am leaning bearish looking for tops to sell until we see something convincing that bulls are in control
Even if we rally above 8200 and into the cloud again on the daily we will still be in a consolidation triangle until a sustained support above 10k with a higher high
Weekly and 2 week momentum also turning down showing weakness