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Heads Up: Bearish Bitcoin Technical Pattern Shouldn’t Be Shrugged Off

Bitcoin price is struggling to get back above $60,000 currently, but bears thus far have been unable to swat price action away from local highs. The push and pull between the two opposing market forces have resulted in a bearish price pattern potentially forming, that anyone paying attention to cryptocurrency might want a heads up about. If bulls ultimately shrug off the recent attempt to take over by bears, new highs are ahead. However, if this technical pattern confirms, the first significant correction could be coming sooner than later in crypto. Bitcoin Price Peaks Could Be Forming Head And Shoulders…

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Market Outlook: Bitcoin Breaks $11K, Whales Refuse to Sell, Downside Risk Remains

The price of bitcoin jumped above the $11k threshold on Saturday morning and into the afternoon, after hovering above the $10,900 range the day prior. The entire crypto-economy of 7,600+ coins has gained 2.29% during the last 24 hours touching $344 billion. Bitcoin (BTC) markets have surpassed key levels above the $11k mark on Saturday, as the cryptocurrency has seen close to $4 billion in global trade volume. A number of people are watching the current price range and believe the $11,000 region is a key zone to watch. One trader explains that BTC has a number of price hurdles…

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Bitcoin Options Traders Bet the Price of BTC Can Touch $36K by December

This past weekend, data shows the most active bitcoin options contracts were calls for $28k, $32k, and $36k by the year’s end. This means a number of options traders are betting the price of bitcoin will exceed the all-time high (ATH) the decentralized currency touched in December 2017. On September 14, researchers from the data analytics firm Skew.com tweeted about an unusual number of call options for December 2020 that are well above the 2017 ATH. “[December 2020] $28k, $32k, [and] $36k calls among the most active bitcoin options contracts yesterday,” Skew tweeted. All of these calls are well above…

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Why Analysts Expect XRP Drop as the Cryptocurrency Slides Lower

XRP is preparing to plunge lower as the cryptocurrency forms a bearish price pattern. The cryptocurrency is actually down 1% in the past 24 hours, despite Bitcoin rallying a handful of percent. XRP’s underperformance of the leading digital asset may add pressure to its move to the downside. One analyst is eyeing a $0.25 price target for the altcoin, which is around 10% below the current price. XRP Could Drop Towards $0.25 As Price Action Loses Momentum XRP is preparing to move lower in the days ahead as the asset fails to hold above a critical downtrend formed at the…

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A Crypto Trader Thinks Ethereum Could Plunge Towards $300 as Momentum Slows

After Bitcoin and Ethereum attempted to surge past $12,000 and $400, respectively, the momentum has tapered off. Over the past day, the leading cryptocurrencies have plunged lower despite a weakening U.S. dollar. As of the time of this article’s writing, ETH is down 2.85% in the past 24 hours and now trades for $385. Analysts say that Ethereum is primed to move towards $300 as last week’s highs hold as resistance. The bearish sentiment can be corroborated by the trajectory of gold, which has flipped negative after a strong rally over the past two weeks. Ethereum Could Drop Towards $300:…

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