This Bitcoin Price Chart May Give Early Warning of Next Bull Reversal

That bitcoin (BTC) has likely found a bottom around $6,000 is now generally accepted, so the challenge for investors and traders is to spot the early signs of a long-awaited bullish reversal. Basic technical theory suggests that a bearish-to-bullish trend change is confirmed after the price invalidates a “lower highs” pattern – a series of descending peaks. As such, bitcoin needs to rise above the September high of $7,400 to confirm a major bullish breakout. That would mean the number one cryptocurrency by market cap needs to rally close to…

Bitcoin’s True Stress Test Is Yet to Come

Michael J. Casey is the chairman of CoinDesk’s advisory board and a senior advisor for blockchain research at MIT’s Digital Currency Initiative. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers. Rekt? You should see the other guy. For anyone concerned about bitcoin losing another 4 percent in October to post its third straight monthly loss, it’s worth comparing that loss to those seen by traditional financial markets. By standard measures, last month was the worst on Wall Street since the…

Bitcoin Price Eyes Move to $6.8K After Bull Breakout

Bitcoin could be about to make a move towards $6,800, having witnessed a bullish triangle breakout yesterday. The leading cryptocurrency, which had been in a narrowing price range, closed at $6,423 yesterday, confirming an upside breakout. With the move, the bulls look to have come out victorious in a months-long tug-of-war with the bears. However, BTC is struggling to find acceptance above the immediate resistance of the 50-day exponential moving average (EMA), currently at $6,450. However, the EMA hurdle could be crossed in a day or two and prices could…

Bitcoin Sees New Price Support From 7-Year-Long Rising Trendline

The job is getting tougher for bitcoin bears as the number of strong support levels is growing with each passing month. The latest addition to the list is the support of the trendline connecting the November 2011 low and August 2016 low, currently at $5,830. Till Oct. 31, the two important support levels were the 21-month EMA and the trendline drawn between the June low and August low. More importantly, the 21-month EMA was the level to beat for the bears till last month, meaning a close below that EMA was…

Bitcoin Price Drops $200 to Hit Two-Week Low

After nearly two weeks stagnating at around $6,400, bitcoin (BTC) has suddenly dropped out of the trading range. At 12:00 UTC, the world’s largest cryptocurrency by market capitalization dropped nearly $200 to reach a two-week low of $6,243. For the last 14-days, bitcoin had been stuck in a range of $6,590-$6,403 – its least volatile stretch since April 2017, according to CoinDesk’s Bitcoin Price Index (BPI). The squeeze in bitcoin prices had been somewhat surprising, since the cryptocurrency has shown to be correlated with the equities markets which are about to end…

Indian Police Raid Seize ATM Run By Crypto Exchange Unocoin

Indian police force in the city of Bangalore has raided an ATM operated by local cryptocurrency exchange Unocoin just weeks after it was set up. The Times of India said in a news report on Wednesday that Harish BV, co-founder and chief technology officer of the Unocoin exchange, was arrested on Tuesday as he was operating the ATM which was installed in a shopping mall and revealed on Oct. 14. According to the report, the Central Crime Branch of the local police seized the ATM, two laptops, a mobile, three credit cards, five…

Bitcoin Futures Could Go Live on ICE’s Crypto Trading Platform in December

The Intercontinental Exchange’s upcoming cryptocurrency trading platform Bakkt will officially launch on December 12, pending regulatory approval. ICE announced Monday that Bakkt could begin offering physically settled bitcoin futures contracts in December, marking the first cryptocurrency-related offering provided through the new platform. Bakkt will hold the bitcoins backing the futures contract in the ICE Digital Asset Warehouse, according to the notice, provided the Commodity Futures Trading Commission (CFTC) signs off. These futures contracts will be cleared through ICE Clear US, another subsidiary of the exchange, which notably owns the New…

Do These Indicators Suggest a Bitcoin Price Rally Early in 2019?

Bitcoin (BTC), the world’s largest cryptocurrency by market capitalization has enjoyed a staggering price increase in excess of 150,000 percent since it was first listed on exchanges back in July 2010. Since then, the cryptocurrency has also experienced multiple bull runs, bear runs (the longest of which consumed much of 2014 and 2015) and stronger media attention year on year. From a technical perspective, the relationship BTC has with traditional charting patterns is occasionally counter-intuitive to what one would normally expect. Take, for example, the descending triangle which is typically…

Not So Safe Haven? Signs Suggest Bitcoin Might Still Be a Risk Asset

Volatile price swings and plummeting valuations have been a reality for bitcoin investors of late, but those who own traditional equities haven’t been immune either. In fact, bitcoin and the S&P have correlated on and off for almost a year, each taking turns as the leading indicator. Bitcoin, the cryptocurrency advertised as digital gold due to its difficult means of production and limited supply, is expected by some to act as a “safe haven asset,” one that rises or remains stable in times of economic turmoil (just as its metal…

3 Bitcoin Price Factors That Suggest Bears Are in Charge

The prospect of a deeper drop in bitcoin prices has increased, price-volume analysis indicates. The world’s most valuable cryptocurrency, which had been trading sideways since September 22, fell sharply to a three-week low of $6,220 on Bitfinex yesterday, confirming a range breakdown. The technical indicators on the daily chart also turned bearish, validating a negative moving average crossover on the long duration charts. Essentially, bears regained control 24 hours ago, opening the doors to the key support of $6,000. Furthermore, the bearish case is now looking stronger than it did…