Bitcoin Price is Stuck Below Key Hurdle For Fourth Week

Bitcoin is having a tough time scaling a key moving average hurdle that has kept the bulls in check for four weeks straight. The obstacle that is proving so hard to beat is the 10-week exponential moving average (EMA), which stalled a rally attempt from around $6,100 in mid-September. Since then, BTC has notably failed to produce a weekly close (Sunday’s close as per UTC) above the EMA, establishing it as a crucial level to beat for the bulls. At press time, BTC is trading at $6,580 on Bitfinex, having…

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Bitcoin Price Stuck Below Key Hurdle For Fourth Week Running

Bitcoin is having a tough time scaling a key moving average hurdle that has kept the bulls in check for four weeks straight. The obstacle that is proving so hard to beat is the 10-week exponential moving average (EMA), which stalled a rally attempt from around $6,100 in mid-September. Since then, BTC has notably failed to produce a weekly close (Sunday’s close as per UTC) above the EMA, establishing it as a crucial level to beat for the bulls. At press time, BTC is trading at $6,580 on Bitfinex, having…

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Cautiously Bullish: Bitcoin Price Clears Key Trendline to Pass $6.6K

Bitcoin saw a low-volume bullish breakout Monday, but the long-awaited move is sending mixed signals to investors The leading cryptocurrency cleared the trendline sloping downwards from the July 25 high and Sept. 5 high around midday yesterday, adding credence to the argument put forward by many, including billionaire investor Novogratz, that the market has carved out a long-term bottom around $6,000. However, so far, the bullish trend change hasn’t significantly revved up investor interest. This is evident from the fact that the total trading volume rose by a meager 15…

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Another Measure of Bitcoin Price Volatility Hits 15-Month Low

Bitcoin price volatility continues to drop, with one measure having reached a 15-month low. Weekly volatility, as calculated by the difference between the high and low, fell to $317 last week – the lowest reading since the first week of July 2017 – according to Bitfinex data. More importantly, the leading cryptocurrency witnessed a trading range of $498 and $741 in the previous two weeks. The data indicate that BTC is being squeezed in a narrowing price range and as per technical rules, a decisive move is overdue. Other measures of…

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Bitcoin’s Price Volatility Just Hit Another 15-Month Low

Bitcoin price volatility continues to drop, with one measure having reached a 15-month low. Weekly volatility, as calculated by the difference between the high and low, fell to $317 last week – the lowest reading since the first week of July 2017 – according to Bitfinex data. More importantly, the leading cryptocurrency witnessed a trading range of $498 and $741 in the previous two weeks, respectively. The data indicate that BTC is being squeezed in an ever-narrowing price range and, as per technical rules, a decisive move is overdue. Other measures…

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Bitcoin Price Must Clear $6,800 for Range Breakout

Bitcoin continues to trade in a narrow range for the 13th straight day and a move above $6,800 is needed to confirm a bullish breakout, according to technical chart. At press time, the leading cryptocurrency is trading at $6,600, representing a 1.65 percent gain on the day. BTC has been restricted to a narrow range of $6,800 to $6,500 since Sept. 22 and this lack of clear directional bias has pushed the volatility reading to a 21-month low. The daily volatility as represented by the Bollinger bandwidth – a technical…

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Bitcoin’s Price Is Testing a Month-Long Trend Line

Bitcoin bears have been emboldened by repeated rejection from a key moving average hurdle, but they may take a breather over the next 24 hours as the price heads for another key trendline of support. The world’s premier cryptocurrency is lacking a strong bullish or bearish bias in the near-term given that its price action has largely traded sideways since the beginning of September. That said, the repeated failure to find sustained acceptance above the 50-day moving average and $6,850 resistance gives the upper hand to bears, as it indicates…

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Bitcoin Price Faces Minor Drop After Failure to Pass Key Resistance

Bitcoin price is vulnerable to modest slippage as the persistent failure to beat a key moving average hurdle may embolden the bears. The leading cryptocurrency has been in a narrow sideways drift in recent days. More importantly, the sideways moving 50-day exponential moving average (EMA) has proved a tough nut to crack since Saturday. BTC’s inability to cross the 50-day EMA for four straight trading days indicates that the bullish move from the Sept. 19 low of $6,100 has likely lost momentum. As a result, the door is open for…

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Bitcoin Price Ends September At Lowest Volatility in 15 Months

Bitcoin traded in a range of just under $1,500 over the course of the month of September, its narrowest monthly trading range since July 2017, data reveals. At close of trading Sunday, bitcoin (BTC) officially ended the 30-day period with a trading range of $1,329, with prices oscillating between a low of $6,100 and a high of $7,429. Overall, this was the lowest one-month range since July 2017, when bitcoin traded in a $1,095.8 window, according to data from Bitfinex. Further, the monthly trading volume throughout September marked its lowest amount…

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Sign Emerges That Falling Bitcoin Price Just Might Have a Floor

Bitcoin (BTC) seems to have built a base around a key moving average in the last four months, although, so far, it has not been able to produce a definitive bullish breakout. Throughout 2018, the leading cryptocurrency has set lower price highs, indicating the path of least resistance is to the downside. Despite the bearish setup, the 21-month exponential moving average (EMA) has served as a strong floor since June. More importantly, the failure to beat the EMA support for four straight months indicates that the sell-off from the record…

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