|Day's range||28.8 - 30.02|
|52-week range||0.43 - 515.59|
|Volume (24 hrs)||817.58k|
|Volume (24 hrs) all currencies||10.14M|
Bitcoin gives up early gains as investors lock in profits, though the losses are not large enough to pin back any hopes of further gains later in the day.
Bitcoin’s looking to consolidate on Sunday’s rally, though much will depend upon the news wires through the day, regulators and governments busy behind the scenes to bring the market into the mainstream on reg front.
The Bitcoin bulls will be in search of an early weekend rally to attempt to restore some confidence in the cryptomarket following relatively heavy losses in the week, though we can expect plenty of resistance.
Bitcoin has struggled through the early part of the day, lagging the majors as investors look to decipher what governments and regulators are likely to impose on the crypto market in the coming weeks, with the bearish trend very much intact.
It’s just got even more bearish for Bitcoin and the broader market, with the path of least resistance continuing to be downwards through the summer, the day’s pullback to $6,100 levels bringing $5,000 levels into play.
Bitcoin kicked off the day in the red through the early hours, with Monday’s late sell-off continuing through the early hours of the day, Bitcoin needing to move back through to $6,700 levels to avoid a more material sell-off.
It’s a slow start to the day for Bitcoin, following Sunday’s late in the day pullback, leaving Bitcoin struggling for direction early in the day. Bitcoin will need to break through to $7,000 levels soon to avoid another major sell-off.
Bitcoin just got bullish off the back of news that the South Korean government has loosened its rules and regs on the cryptomarket and is also looking to remove the ban on initial coin offerings.
It’s a slow start to the weekend and the Bitcoin bulls are going to have to come out of hiding for the prospects of a bearish trend reversal to begin forming. The near-term target continues to be a hold at $6,700 levels.
With Bitcoin back in the Bitcoin rut, the current ranges could spell trouble for the Bitcoin bulls if there’s no recovery to $6,700 levels through the day, the path of least resistance continuing to be downwards.
Bitcoin appears to be at a crossroads, with a move back through $6,600 supporting a run at $6,700 levels and the formation of a near-term bullish trend, while a pullback to $6,200 levels would be a resumption of the bearish trend, with sub-$5,000 levels back in play.
Bitcoin held on to Monday’s gains through the early part of this morning, though with last week’s gains and Monday’s upward moves, Investors may be looking to lock in profits that could, not only weigh on Bitcoin, but the broader market.
Bitcoin is eyeing a possible second consecutive day of losses at the start of the 3rd quarter, with the Bitcoin bears still firmly in control and likely to remain so through the early part of the month. Avoiding sub-$6,000 levels will be key this week.
Following a solid couple of days to limit the losses for the 2nd quarter, it’s back in the red for Bitcoin at the start of the 3rd, with uncertainty continuing to pin back any meaningful rally.
Bitcoin is on the move and $6,700 levels will be the next target for the Bitcoin bulls who will need to consolidate the recent gains to support a shift in sentiment, though governments and regulators are always there to spoil the party.
Bitcoin is down again and, while faring better than some of the majors, there may well be more pain to come before the Bitcoin bulls can come out of hiding.
Bitcoin was back in the red this morning as news of another South Korean exchange being hacked led investors to lock in profits from the early part of the week. A failure to recover this afternoon could see Bitcoin take a step closer to $5,000 levels
Bitcoin starts the week in the red, alongside the broader market, with an early afternoon move needed to avoid another week of decline. The Bitcoin bulls may be getting ready to make a move, but the news wires will need to behave.
Bitcoin markets fell during the week but found a bit of support in the midst of this negativity. There is a significant amount of support underneath, and it could determine where we go next. Quite frankly, if this does not hold things could get ugly.
Bitcoin try to rally late on Thursday, but as we came back to work on Friday, we started seeing that selling pressure again. Because of this, it looks like we have more of the same, and that it’s likely we will test major support below.
Bitcoin markets tried to rally a bit during the trading session on Thursday but continues to find resistance at the 50 SMA on the hourly chart. I think that the market should continue to struggle overall, as bitcoin seems all but hell-bent to go to the $6000 level.
The Bitcoin markets broke down a bit during the trading session on Wednesday, losing over 1% as I record this video. The 50 SMA is just above against the US dollar, as it is against the Japanese yen. It looks likely that we will continue to find sellers on short-term rallies, and at this point I think we are going to go looking towards the bottom of the larger consolidation area in both markets.
Bitcoin sits in positive territory early, but the gains are not particularly convincing and could lead to yet another reversal if Bitcoin doesn’t make a move soon.
Bitcoin markets were relatively quiet during the trading session on Tuesday, as there isn’t much in the way of a catalyst right now to move the markets. We have seen a major break down over the weekend, so it makes a lot of sense that the markets may need to take a bit of a break from moving so drastically. Perhaps we are trying to catch our breath, before trying to recoup some of the losses.