Flash Alert: Thursday 24th October Libra opposition derailed hopes for a strong reboundLets take a step back to recap the week before moving forwards to the present situation. Earlier this week we saw Bitcoin bounce back up from sub-$8,000 levels to regain ground above the $8,200, which initially raised bullish spirits and hopes for a stronger rebound on Monday. Many had interpreted previous support between $7,700-$7,800 as a sign Bitcoin is gearing up for a rise towards the top of the bear flag channel (anywhere between $8,500-$8,844). But Bitcoin was unable to make much progress above the $8,300 threshold on Tuesday as sentiment began to stale a day before Mark Zuckerbergstestimony to the House Financial Services Committee.And on Wednesday, we saw Bitcoin knocked below $8,000 again to an intra-day low of $7,300, as regulators and lawmakers grilled Facebook CEO Mark Zuckerberg on his digital currency project Libra and continued to express dissatisfaction with cryptocurrencies in general. As you may imagine, there were many anti-Bitcoin and crytpocurrency rants, with Congressman Brad Sherman dismissing cryptocurrency completely, arguing it is only useful for facilitating criminal activity. It would not be the first time Congressman Sherman or many other of his peers attack Bitcoin after all. So in the greater scheme of things, these anti-crypto comments emerging from Congress are nothing out of the ordinary. Since our previous update, the price of Bitcoin is down by approximately $820. And at the time of writing today, the price of BTCUSDT was trading at $7,417 following an earlier intra-day high of $7,497 and low of $7,338.Bitcoin nears Death Cross In our previous update on Monday we had pointed out that the 180-day EMA had recently crossed through the 200-day SMA from above. We have found that this type crossover has been accurate at denoting the beginning and the end of bullish cycles in Bitcoin.And as our bearish conviction over the price trajectory of Bitcoin continues to materialise, we are now seeing the 50-day SMA (yellow) nearing the 200-day SMA (orange) from above, approaching what is known as a death cross. This may be seen from the charts below.A death cross has traditionally been considered an official confirmation of a bear market. And that is typically followed by steeper price declines.We have seen other prominent media claim that a death cross usually suggests that Bitcoin is near a bottom although the chart below seems to suggest otherwise. As may be seen from the chart above, at the end of March 2018, the 50-day moving average had crossed through the 200-day moving average from above, forming a death cross. And it took around 9 months for Bitcoin to find a bottom following the appearance of that death cross, so this is really bearish for Bitcoin. Certain individuals are going as far as claiming that Bitcoin may fall below $2,000 this time around although we currently believe that is too extreme. Thats our current view at least. This bear market is not likely to last as long as the previous This bear market is not likely to be as long as the previous since the conditions are very different. We believe there is a good chance Bitcoin may recover much sooner than the previous bear market due to the hype around the Bitcoin halving in May 2020. Those of you who are interested in reading more about Bitcoins historical price performance during the previous two halving eventsmay do so here.We do not have a crystal ball so we do not know whether this hypothesis will even pan out. However, if we had to make an educated guess, we would be looking for a Bitcoin recovery (or bottom) to start to occur sometime between December and January , which coincides with the seasonal santa rally that is typically seen across developed stock markets. Historically risk appetite tends to pick up between December and January as bonuses become known and portfolio rebalancing for the following year starts to take place. And based on our previous research, it is possible for Bitcoin to be supported somewhere between $5,000 $6,000 , as may be seen from the chart below. If the substance of our log price analysis research holds up, from which the chart above is derived from, Bitcoin may see a bottom start to form at $6,000 or $5,000 (if the latter fails to hold).Addendum (24 Oct 19): Further to the above, we want to add the following point:Head and Shoulders Formation There appears to be a head-and-shoulders forming on the daily charts, which adds to our bearish stance. We admit it is not the best looking head-and-shoulders pattern although it still carries merit. We will delve into further detail in the following update. We reiterate that we do not have a crystal ball and past performance is not indicative of future performance. In the meantime, if you enjoy reading our analysis and want to stay up to date with our latest posts then join our brand newReddit Communityand start following us onTwitter.The next Flash Alert will be published onMonday 28th October @ 12:00 noon British Summer Time (11:00 am UTC). Anyone interested in reading ourprevious Flash Alertsmay do sohereas they remain valid and provide a good trail for anyone wanting to catch up with recent price action.Develop your understanding of trading with our free educational guide that walks you through the five rules you need to master before trading crypto. Bitcoin Price Analysis Bitcoin Price Analysis: Has Bitcoin found a bottom yet?4 min read Bitcoin Price Analysis Bitcoin Price Analysis: Red flags everywhere we look!4 min read Bitcoin Price Analysis Bitcoin Price Analysis: BTC rallies to $8.4K before sliding back $8.3K

We live in exciting times if you are into Bitcoin technical analysis. On the daily chart we see a death cross predicting a major short-term drop in price. On the weekly chart we see a golden cross indicating a long-term buying opportunity. What do we make of this and how will these crosses help me buy Bitcoin at the right time?What is Technical Analysis? Technical analysis or TA uses statistical analysis of past price movements to predict the probabilities of future price movements. Cryptocurrency markets are primarily driven by and this increases the reliability of technical analysis. Humans act in predictable emotional patterns again and again particularly visible on these unregulated markets. Technical analysis is basically the study of market psychology and crowd behavior.Death Cross, the price will go down! A death cross occurs when a short-term moving average crosses a long-term moving average downwards. It is believed to be an early indicator of a down-trend or bear market. The trendlines are usually based on the average of the previous 50, 100 or 200 daily or weekly prices. In the chart above you see that around November 17, Bitcoin will most likely experience a death cross of the 100 day and 200 day moving averages. This signals the start of a down-trend or bear market just like it did in April of 2018. Based on this indicator the Bitcoin price will go down in the next few months.Golden Cross, the price will go up! A golden cross is the exact opposite. It occurs when a short-term moving average crosses a long-term moving average upwards. It signals the start of a long-term uptrend or bull market. The chart above is logarithmic and shows the 50 week and 100 week moving averages. It looks like the market is repeating what happened between 2014 and 2017. Bitcoin reaches an all time high and drops significantly causing a death cross and a rounded bottom. The price then corrects upwards and the uptrend is confirmed by a golden cross and starts a long-term bull market. A golden cross is possible in early December and predicts a long-term rise to a new all time high for Bitcoin.Instant profit and 100 percent accuracy? Technical analysis (TA) is not an exact science. There is no system, signal or pattern that works 100% of the time. Indicators can only determine that a certain event (e.g major price drop) has a bigger chance of occurring than other events (e.g. major price rise, stable price). Moving averages are a popular technical indicator and golden or death crosses often make headlines. If many people believe a prediction and buy or sell the cryptocurrency accordingly this makes the prediction itself come true. And most people will not care if the prediction is a self fulfilling prophecy. There are many different technical indicators and the above are examples of just one. All trading strategies suggested below are to be used at your own risk.How to buy Bitcoin at the right time Crosses are more likely to predict the upcoming trend if the price moves near the cross. We are currently below the possible death cross and above the possible golden cross. This means that if the price would rise to around $9350 on November 17 the death cross would signal a downtrend and lower prices for the next few months. If the price does not rise but instead drops further down to around $7425 in early December the golden cross signals an excellent and prices are expected to start rising until the Bitcoin halving in May 2020.

A sell-off in the Cardano market Thursday brought its benchmark instrument ADA/USD down by more than 11 percent.

The pair touched a week-to-date low of $1.02, about 31 percent lower than its record high established on February 27. It later underwent a modest recovery phase after finding support in a short-term upward trendline. The bounce prompted the price to attempt a close above its 50-period moving average, only to pull back later owing to higher selling pressure near the blue wave.

It appears likely for Cardano’s ADA to retest the ascending trendline support, further pressured by a death cross formed after the 20-period moving average slipped below the 50-period moving average. It signals additional selling pressure in the market in the short-term.

Should the sell-off continue, ADA/USD risks plunging towards its 200-period moving average. It is right now around $0.88. Meanwhile, an extended slipover below the orange wave would have traders view $0.80 as their downside target. The level has served as support all across February.

The downside correction in the Cardano market follows its 700 percent-plus price rally in 2021. ADA/USD rallied partially because of an overall upbeat sentiment in the cryptocurrency market, led by Tesla’s $1.5 billion investment into Bitcoin. Altcoins tend to tail the benchmark cryptocurrency’s price trends.

Second, the ADA price surged amid a broader rally among projects that rival Ethereum, the second-largest cryptocurrency by market cap and the leading blockchain network with smart contract functionalities. The transaction and gas fees on the Ethereum network surged aggressively during the February session, prompting speculators to make bets on its rivals.

Has to break and flip the 2400 sats area for continuation either way.

Otherwise, I’m looking at 1900-2100 next. pic.twitter.com/i9SoHN4YiW

— Michaël van de Poppe (@CryptoMichNL) March 5, 2021

Nonetheless, the reason why traders raised their bids in the ADA/USD market was “Mary” — a hard fork that made Cardano a multi-asset chain network upon its successful deployment on March 1. Cardano’s upgrade will enable new tokens on its network and offer smart contract services just like its rival Ethereum.

“Slowly but surely, the momentum is fading away from Cardano after the Mary hardfork,” noted Michaël van de Poppe, an independent market analyst. “That’s normal. Natural market movements. Hype pre-event, calm, and getting back to equilibrium after the event. That’s how it always goes. ADA will continue running later.”

ADA was trading for $1.13 at the press time.

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Bitcoin achieved yet another record high in a price rally that has already seen it surging by more than 1,100 percent from its March lows last year. Incidentally, gold, which many consider Bitcoin’s top safe-haven rival, painted a death cross pattern on its daily chart.

A recent run-up in the long-dated Treasury yields, prompted by a sell-off in the US bond markets following investors’ gravitation towards riskier assets, pressured the spot gold prices lower. The precious metal dropped by almost 9 percent from its year-to-date high of $1,959 an ounce.

…all the three Wall Street indexes notched their historic highs. Bitcoin, which tends to behave as a safe-haven amid market uncertainties, joined the risk-on mood after Tesla, Mastercard and BNY showed support in its favor. In particular, Tesla revealed that it now holds $1.5 billion worth of Bitcoin units and plans to use cryptocurrency as a payment mode for its services and products.

On the other hand, mainstream investors dumped gold to seek positions in other commodities. BlackRock, the world’s largest asset manager, revealed in its SEC filings that it sold 2.7 million SPDR Gold Shares and reallocated the proceeds to purchase 1.18 million shares of iShares Silver Trust (SLV).

In January, BlackRock granted two of its funds the ability to invest in bitcoin futures.

Holger Zschäpitz, senior editor of finance at Germany daily Die Welt, noted the possibility of investors dumping their gold positions to seek returns in the Bitcoin market.

— Holger Zschaepitz (@Schuldensuehner) February 17, 2021

In his market outlook to clients published earlier this month, Bloomberg Intelligence’s senior commodity strategist, Mike McGlone, also stressed Bitcoin’s potential to mousetrap gold’s market in the coming sessions. Excerpts:

“In a world going digital, it’s logical to expect more funds to flow toward Bitcoin and away from precious metals. Outflows from gold exchange-traded funds and inflows for products tracking the benchmark crypto support a potential paradigm shift. Volatility metrics also solidify Bitcoin’s price foundation and potential for a 100x resistance threshold vs. gold.”

As bond yields surge higher, anticipations of massive stimulus package rise, and the Federal Reserve continues to stay on its dovish course, investors would most likely prefer to inflate the risk-on market bubble. That could stress gold further to the downside.

“We remain positive on equities,” Bastien Drut, senior strategist at CPR Asset Management, told FT “because although bond yields have room to rise further, the rise in yields and the rise in equities are coming from the same place, which is economic growth.”

Bitcoin, buoyed by its integration into Wall Street firms as a backup to cash, could see further adoption from gold and the US dollar dumpers. Nonetheless, the cryptocurrency has climbed too far too quickly, which amounts to a certain degree of a downside correction.

— Michael A. Gayed, CFA (@leadlagreport) February 16, 2021

The cryptocurrency was trading at $51,011 at the press time.

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While mere days ago analysts were calling for Bitcoin (BTC) to correct higher to $9,000 and potentially even higher, this bullish scenario has not panned out. On the contrary, in fact. Since the weekend, the leading cryptocurrency has returned to $8,000 and has even started to flirt with the $7,000s once again.This renewed selling pressure has reignited the fears that things are about to get ugly for this market once again (as if the 45% correction from $14,000 wasnt bad enough).Bitcoin Death Cross Looms Analyst Chonis recentlynotedthat Bitcoins 50-day and 200-day moving averages are currently preparing to see a death cross in the coming ten days.For those not versed in technical analysis, a death cross is when a short-term moving average, often the 50-day as it is indicative of short-term trends, crosses below a long-term moving average, often the 200-day. AsInvestopedia accurately defines the term,The death cross is a technical chart pattern indicating the potential for a major selloff.As discussed, the 50- and 200-hour MAs have produced a golden cross, bolstering the bullish setup, as indicated by the inverse head-and-shoulders breakout.The chart is also showing a bull flag breakout a continuation pattern which accelerates the preceding rally.The flag breakout has opened the doors for $8,700 (target as per the measured move method).The bullish case is supported by an above-50 reading on the relative strength index (RSI).3-day chart Bitcoins repeated defense of $7,850 the 38.2 percent Fibonacci retracement of the rally from December 2018 low to June 2019 high indicates seller exhaustion.A similar message is being sent by the MACD histograms higher lows below the zero line.Daily chart Bitcoin is closing on the 21-day exponential moving average (EMA), which proved a tough nut to crack on Sunday and Monday. The level previously capped upside on Oct. 9 and Oct. 10. Further, the cryptocurrencys inability to hold above that average on Oct. 11 was followed by a drop to $7,800.This time roun, the stiff resistance, currently at $8,318, looks likely be breached, with the hourly chart reporting a bullish setup amid signs of seller exhaustion on the three-day chart.All-in-all, BTC looks set to challenge the bearish lower high of $8,820. A UTC close above that level is needed to confirm a bearish-to-bullish trend change, as discussed yesterday.Disclosure:The author holds no cryptocurrency assetsat the time of writing.sourde:coindeskContinue ReadingBitcoin IRA will soon allow customers to lend their retirement assets for interest.The firm, which provides digital asset individual retirement accounts (IRAs) is partnering with digital currencytraderand lender Genesis Trading to offer interest on cryptocurrency and cash holdings that customers want to lend out, including bitcoin, ether, XRP, litecoin, and zcash.The program will be launched in November with a limited number of participants on a first-come, first-served basis, and annual interest rates will vary based on lending coin and term length.Bitcoin IRA declined to define a limit, but chief operating officer Chris Kline told CoinDesk that the firm aims to have the product available to anyone over the next six to seven months.Kline said:Were breaking new ground here, and we want to make sure clients understand everything and that it works well.The product is part of the companys goal to eliminate annual custodial and monthly wallet fees for customers, he added. Yet, the firm wouldnt reveal estimates on what interest rates would be.Well be able to offer more details on interest yields when we have an actual result, Kline said.Youll see some groups offer up to 8 to 12 percent interest. They often have asterisks next to those numbers those rates are more in the 2 to 3 to 4 percent range. Youll see someone deploy a 12 percent rate on bitcoin for three days.Bitcoin IRA chose Genesis because of the lending firms track record for being able to take on new clients.Currently, Bitcoin IRA has processed more than $350 million in investments for more than 4,000 clients. Genesis has so far lent out a cumulative $2.3 billion in cryptocurrency and cash.The product expansion is a deepening of Genesis relationship with Bitcoin IRA, which was already using Genesis over-the-counter trading desk.They are the largest digital IRA provider that we are aware of, and I think that we always want to be working with the leaders in the space, Martin Garcia, co-head of sales and trading at Genesis, told CoinDesk.Moving forward, despite legal battle Bitcoin IRAs partnership with Genesis comes despite the fact that the pension plan provider is embroiled in a lawsuit with Kingdom Trust, a Kentucky-based trust custodian that supported its product in 2016.Kingdom claims that Bitcoin IRA has been using deceptive practices to get customers to switch from Kingdom Trust to BitGo, a qualified custodian with which Bitcoin IRA partnered in June.Jason Anderson, president of Kingdom Trust, told CoinDesk:Clients have been surprised to find that their account is being transferred to a new custodian. In a lot of cases clients have chosen to reverse that decision.On Friday, a Kentucky federal judge dismissed Kingdoms claims with prejudice, and Bitcoin IRA has filed a motion that the claims should proceed in South Dakota, where it filed its countersuit.Despite the suit, Bitcoin IRA hasnt stopped releasing products. In early September, the firm announced facial recognition for authentication of transactions. Later last month, it announced crypto swaps from bitcoin into ether without delays in settlement.By next year, the firm aims to make its accounts open to a wider customer base by removing its $3,000 account minimum and replacing it with an automatic minimum monthly savings increment. While the firm doesnt have a set estimate yet, Kline said that $50 a month might be a realistic estimate.Kline said:Its our biggest rollout. It will be designed so that everyone has access to retirement savings for cryptocurrencies.sourde:coindeskContinue ReadingIf you passed away tomorrow, would your loved ones be able to access your bitcoin holdings?Thats a concern addressed by a new service from crypto custody provider Casa that helps holders of the cryptocurrency ensure their assets are passed on after their death.CalledCasa Covenant, the service combinesmultisignatureauthorization with a security protocol to assign bitcoin holdings for later inheritance.With the launch, Casa aims to tackle the quandary for bitcoin users who may pass away while holding bitcoin. Casa said their choicesare currently: do nothing and potentially leave the bitcoin inaccessible forever; share account details with a trusted individual, but risk theft; or use a third-party custodian who may not have a process for inheritance and may also pose a security risk.Casas first-of-a-kind service provides a fourth option, according to ablog poston Monday. Itallows users to securely pass on their bitcoin to designated heirs after death, while minimizing the risk that the funds can be stolen in the time before.Users will need aKeymaster account with the firm and are recommended to work with anestate lawyer to ensure the correct process is carried out after they pass. The lawyer would protect a single client key in your multisig setup in the form of a hardware wallet, Casa said.The company will work with the lawyer to educate them on the management of private keys and provide tools to assist that process. It will also help with setting up the Covenant account and with technical aspects of the service, according to the post.On the tech side, the serviceadds an optional sixth multisig key to users 3-of-5 Key Shield, resulting in a 3-of-6 setup that is, it would require a transaction to be signed by three of the six key holders to be valid.The extra key will be activated during the process of setting up the Covenant service and would be held by the clients estate lawyer, said Casa. If the client should pass away, the estate lawyer key, the Casa recovery key and thesafety deposit box key would be used to recover the funds.sourde:coindeskContinue Reading

Bitcoin’s fall below $9,000 has the crypto currency staring at a feared death cross. This is the case if the final 50-day moving average is below its 200-day counterpart. As the name suggests, this is a downward ,'ezslot_2']));The term is used to describe a crossover of the 50-day moving average and the longer-term 200-day moving average. More specifically, it’s used to illustrate when the 50-day moving average moves below the 200-day moving average — technicians often look at this pattern as a bearish sign of what’s to 'ezslot_4']));This would be the first death cross since 2015 for Bitcoin. After the death cross, bitcoin rallied close to $500 by early November that year from around $230.Certainly there are some opposing technical signals that suggest that this may not be such a paralyzing event. The moving 200-day average continues to rise and served as intraday support on Friday. Bitcoin also has higher lows, with the trough being higher in April than in February.Some strategists are saying that the death cross could yield a big sell-off in BTC. However, such fears are likely overstated, as the crossover tends to work as a contrarian indicator – that is, they tend to occur at the end of a big bear move, with prices rallying soon 1']));In fact, it could end up being a bear trap, at least in the short term as the death cross failed to yield a big sell-off in two out of the last three events, and the odds are high that it would end up being a bear trap for the third time.Captain Altcoin is made up of investors and digital currency enthusiasts.We have seen a strong need for better media coverage in the industry as the rise and popularity of digital currency is at an all-time high.We strive to share the most reliable, interesting, and accurate information to our readers.

[currencyprice currency1=btc currency2=usd,eur,ltc,eth feature=all]Latest MediaQUE DEVIENT LE BITCOIN ?October 28, 2019[2] Brian Armstrong: Before Becoming the Rockstar CEO of Coinbase and the Cryptocurrency CommunityOctober 28, 2019Cryptocurrency Conferences And The Future of Bitcoin (CIS 2019)October 28, 2019Dont give up your precious Bitcoin for altcoin interest on Coinbase! BTC is like rare art, TrezorOctober 28, 2019Bitcoin Lo que necesitas SABER antes de INVERTIR en BitcoinOctober 27, 2019COINBASE CEO SAYS U.S. RESPONSE TO LIBRA IS RIDICULOUSOctober 27, 2019This week in Bitcoin- 10-25-2019- Blockstream, Liquid, sidechains, satellites, hyperbitcoinizationOctober 27, 2019The 1 Bitcoin Show- Yom Kippur soon! Coinbase, Bloxlive, Lightning network, MWC, Q&A!October 27, 2019Bitcoin BREAKOUT after death cross Will BTC see new highs in 2020?October 26, 2019RIPPLE AND COINBASE INVEST IN LARGEST MEXICAN CRYPTO EXCHANGEOctober 26, 3Ripple48BitConnect48Dash45Ethereum44

Flash Alert: Monday 28th October Chinas President Xi endorses blockchain technologiesThe death cross identified in the previous update did eventually come knocking on the door. But just before the floodgates could really open up, Chinas President Xi Jinping stepped in, calling for his country to seize the opportunity to advance development of blockchain technologies. President Xi also said China has a strong foundation and should look to take a leading position in the sector. Xis comments came as a complete surprise to the market, especially following a ban on cryptocurrency exchanges in 2017. The irony here is despite the ban on exchanges, the biggest cryptocurrency mining operations actually reside in China. And coincidentally, the announcement happened to occur around the same time Bitcoins death cross had appeared. Short squeeze triggers Bitcoin buying frenzyAs you may imagine, investor sentiment towards Bitcoin and other cryptocurrencies buoyed following President Xi Jinpings comments. Bitcoin skyrocketed nearly 41% over the weekend from a low of $7,361 on Friday to a high of $10,370 on Saturday, mostly because stop losses on short positions began to get triggered. As you may already know, when a market becomes bearish on an asset there may an inclination for more participants to take short positions on the asset they are bearish on in order to profit on the expectation that the price will fall. And sentiment towards Bitcoin these days was increasingly becoming bearish, with noticeably more people on social media calling for the price to fall below $2,000. When stop losses are placed too close to the market price, and the price of the asset that is being shorted starts to rise, stop losses may start to become triggered. When short positions are closed, automatic buying occurs to close the short position, resulting in what is known as a short squeeze. Bitcoin price is supported; bullish thesis revivedWhen a short squeeze has no strong foundation or substance, the price increase does not tend to hold. The price typically falls back to the level it was prior to the pump and drifts even lower. And this process tends to happen rather quickly.But that was not the case for Bitcoin. Not only did the price of Bitcoin shoot past the 200-day moving average but with the exception of Saturday, Bitcoin has managed to consecutively make a series of higher highs and lower lows. Why?We believe it is not just about China. Of course the Chinese Premiers comments suggest the worlds second largest economy is beginning to open up to the sector, which is a very positive achievement for the sector. But in the greater scheme of things it also provides the United States with an incentive to not fall behind. This could result in top U.S. government officials becoming more accommodative towards blockchain technologies. Who knows, perhaps Congress will be more lenient on Facebooks Libra project next time around? Whatever it is, President Xis comments is likely to have sparked something that will expedite the adoption of blockchain technologies and cryptocurrencies at government level. And this is the reason why the price of Bitcoin has been supported and why we are turning bullish on Bitcoin. So where do we stand? Well, we are convinced more then ever the price of Bitcoin is not governed by a free market forces. Although after all that is no different than a large group of hedge funds or institutional investors owning stock in a publicly-listed company and exercising some degree of control over its price. Regardless, it doesnt stop us from loving what Bitcoin stands for. And besides, Bitcoin as a technology is evolving and we (and many others) also enjoy the process of hodling and trading it. We are sure you do too if you are reading this update. Based on the latest events, we are becoming bullishon Bitcoin. We have provided the conditions that would need to be present for us to start becoming bullish on Bitcoin in a recent update, which you may read here.At the time we were convinced that Bitcoin hadnt found a bottom and we had described the price level where Bitcoin should rise to in order for us to start becoming bullish. The conditions we described in that update have technically been met. The only thing we would do before getting too carried away is to see whether the 200-day simple moving average holds up as support.Given the magnitude of recent gains, we would not be surprised to see the price of Bitcoin partially retrace. The 200-day moving average for BTCUSDT currently resides at $8,962, so we would be looking for support to hold up around $9,000 level. If the price falls below the 200-day moving average then of course the scene may start to become very bearish again so thats the golden rule to watch out for right now.We note there is a still a death cross formation; the 50-day moving average is still below the 200-day moving average, so the price of Bitcoin could still turn bearish again. The research we documented in our log price analysis had given us some interesting observations, which seem to support the view that Bitcoin is in a bull market mega cycle. And the same report indicated the price of Bitcoin had a high probability of finding a bottom at either $8,000 or $6,000 or around $5,000 (at the very lowest) based on similar historical price trajectories. But in the greater scheme of things, $7,300 is not miles away and anyone following our updates for a while would know our original price target for Bitcoin was $7,500 for a long time! But to be fair, nobody had expected President Xi Jinping to announce bullish industry comments on Friday so who knows Perhaps the lesson here is to never try to time a bottom to perfection (a range is perhaps good enough). But where would the fun be if we didnt try. We reiterate that we do not have a crystal ball and past performance is not indicative of future performance.In the meantime, if you enjoy reading our analysis and want to stay up to date with our latest posts then join our brand newReddit Communityand start following us onTwitter.The next Flash Alert will be published onThursday 31st October @ 12:00 noon British Summer Time (11:00 am UTC). Anyone interested in reading ourprevious Flash Alertsmay do sohereas they remain valid and provide a good trail for anyone wanting to catch up with recent price action.Develop your understanding of trading with our free educational guide that walks you through the five rules you need to master before trading crypto. Bitcoin Price Analysis Bitcoin Price Analysis: BTC approaches Death Cross5 min read Bitcoin Price Analysis Bitcoin Price Analysis: Has Bitcoin found a bottom yet?4 min read Bitcoin Price Analysis Bitcoin Price Analysis: Red flags everywhere we look!

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Over the past few months, analysts have been questioning if Bitcoin (BTC) really is in a bull market. Just two weeks ago, the leading cryptocurrency was down nearly 50% from its year-to-date peak of $14,000 something that many took as a signal that Bitcoin was back in a bear market phase.But, a key technical indicator has shown that the crypto market remains in a bullish phase. The thing is, another drop in the BTC price, even to $8,000, could make that indicator flip bearish for the first time since March 2018 just shy of the $20,000 top of the last bull run.Related Reading: Bitcoin Still in Long-Term Bull Market, Indicator Suggests If youve followed cryptocurrency trading at all, youve likely seen the terms golden cross and death/bear cross incessantly mentioned on Twitter and. For some reference, golden and death crosses in technical analysis refer to when moving averages (MAs) cross each other to signal a trend; golden crosses see short-term MAs crossing above long-term MAs, and death crosses the other way around.According to a recent analysis by Byzantine General, a popular trader on Twitter, a bear cross of the 50-day exponential moving average and the 200-day exponential moving average was just averted. This implies that Bitcoin remains in a long-term bull trend, as golden and death crosses of these two moving averages have long been indicative of macro trends.The 50 & 200 EMAs on the 1D timeframe are a good indication of bull & bear market. Theyre much more clear than the regular DMAs.We still havent had a bear cross. Interesting. Byzantine General (@ByzGeneral) This isnt the only indicator implying such. Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a golden cross, which he claims is far more significant for the Bitcoin market that other technical crosses.Related Reading: To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoinit bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.Related Reading: Featured Image from Shutterstock

While mere days ago analysts were calling for Bitcoin (BTC) to correct higher to $9,000 and potentially even higher, this bullish scenario has not panned out. On the contrary, in fact. Since the weekend, the leading cryptocurrency has returned to $8,000 and has even started to flirt with the $7,000s once again.Related Reading: This renewed selling pressure has reignited the fears that things are about to get ugly for this market once again (as if the 45% correction from $14,000 wasnt bad enough).Bitcoin Death Cross Looms Analyst Chonis recently that Bitcoins 50-day and 200-day moving averages are currently preparing to see a death cross in the coming ten days.For those not versed in technical analysis, a death cross is when a short-term moving average, often the 50-day as it is indicative of short-term trends, crosses below a long-term moving average, often the 200-day. As The death cross is a technical chart pattern indicating the potential for a major selloff. Death Cross setting up on or about 10days ish from now check out what happened in 2018 when the MA50 crossed down into the MA200 on the daily chart Big ChonisFlux Trading Group (@BigChonis) Should this technical pattern come to fruition on Bitcoins chart, it will show that bears have control of this market. As Chonis pointed out, the last death cross, which was observed in 2018, marked the commencement of a long-term price correction.Related Reading: Not the End of the World While the previous death cross seen in 2018 sent Bitcoin investors capitulating, it is important to note that this technical formation is not a definite sign of doom, so to speak. Look to the chart below as a case in point.What Im showing you above is mid-2015 to early-2016, the period after Bitcoin had bottomed and had begun to enter into a fresh long-term bull trend. As you can see, the white line, the 50-day moving average, crossed bearishly in September 2015 as Bitcoin consolidated after a price drop. Whats interesting in this case is that BTC didnt fall further, instead, it actually started to creep higher. The same could take place here, albeit the odds of this scenario playing out are not 100%.Whats more, there are still a number of signs showing that Bitcoin is at the start of a , not in a redux of last years brutal so-called Crypto Winter.Analyst recently pointed out that Ichimoku Clouds (for Bitcoins one-month chart) first lead line has crossed above its second, flipping green for the first time in months. He wrote in a response to the inquiry about the indicator that this could be the start of something beautiful, referencing the idea that the Ichimoku Cloud is currently predicting that BTC is likely to see months, maybe years of positive price action.Thats far from the end of it. In August, the back in early-August. Whats notable about this is the last time this technical event played out was early-2016, February 2016. What followed this last golden cross was the rally from $500 to $20,000 a jaw-dropping 4,000% move in under 24 months, of course. Should history repeat from here, Bitcoin could reach $400,000 by mid-2021.Related Reading: Featured Image from Shutterstock

Bitcoin price (BTC) is down around 1% on Monday, following a strong close to the week on Sunday with a move from lows of $7,875 to highs of over $8,300. The altcoins also bounced around 2% yesterday and have also failed to follow through today.Despite the strong close to the week, Bitcoin closed the week down around half a percent and the altcoins a similar amount. With an encouraging bounce in the twelfth hour, we examine what this may mean going into the week and if the updraft in the price action is likely to continue.Cryptocurrency market daily view. Source: Coin360Weekly Bitcoin price chart BTC USD weekly chart. Source: TradingViewBitcoin continues to trade below the 20-week moving average (WMA), while supported by the 100-WMA and the previous weekly support. The 100-WMA will rapidly begin its decline next week and Bitcoin shows limited interest in retesting key prior support of $9,500 at this point.The weekly Moving Average Confluence Divergence (MACD) continues to trend down, as does the Relative Strength Index (RSI). The MACD histogram is showing signs of a higher low and the RSI is testing the downtrend. This implies that Bitcoin, although in a downtrend, could be in for an attempt to change that somewhat going into the final ten days of October.BTC USD weekly chart. Source: TradingViewA close above $8,305 would mean avoiding a fourth consecutive monthly red candle, which has never occurred previously in a bull market and would be a relief for the bulls.Daily Bitcoin price chart BTC USD daily chart. Source: TradingViewThe daily Bitcoin chart shows that the digital asset has an impending death cross of the 200-week and 50-week moving averages. As the name would suggest, this implies that Bitcoin will be likely to suffer more downside, although death and golden crosses are more useful on the weekly chart. The death cross is occurring at the descending multi-month resistance adding weight to the idea that Bitcoin is up against bearish momentum.Historically, the daily death crosses have been met with a rally into the cross, contrary to the market sentiment at the time; but typically following the rally there has been a continuation of the downtrend.The On Balance Volume indicator (OBV) adds or subtracts current volume to the previous OBV depending upon the price increasing or decreasing. Currently, the indicator shows that there are some encouraging signs, in that the recent downtrend has subsided somewhat. This could add weight to the idea that there could be some sort of rally this week off the back of Sundays close.Combined Bitcoin Order book. Source: data.bitcoinity.orgLooking at the order books, it is clear on face value that buying interest outweighs selling interest within 10 percent of the price range. Traders also might have witnessed a shrinking of around 25% off the books on the sell-side on a number of larger exchanges between the start and end of last week.Although this merely tells part of the story, it does imply that there is a chance the bulls may take back control of the market in the short-term.If the bears are to take hold of the market after the death cross, the next area of buying interest is likely to be the low $6,000s, which saw a significant market reaction earlier in the year and acted as confirmation that continuation was necessary.Should a breakdown to these levels occur, the descending resistance would suggest that prices would likely be capped in a lower range for the remainder of the year unless there was a similar reaction to May 2019, coupled with follow-through to retest $9.5K, which at this stage looks unlikely.BTC USD daily chart. Source: TradingView4-hour chart The 4-hour chart illustrates the strength of the bounce on Sunday. Its clear to see that Bitcoin has put in a second higher low following a second higher high. This is supported by buying pressure as seen in the OBV, which is a bullish indicator on low timeframes.Despite there being an obvious trading range of $7,700 to $8,400, there is also an argument that the higher highs held back by the 200-day moving average (DMA). A broadening wedge would support the idea of a test of $8,800 sometime this week.BTC USD 4-hour chart. Source: TradingViewCME gap The CME did open Sunday with a gap to the upside. Typically these gaps have been filled relatively quickly in the past. At the moment, Bitcoin price is retracing and it is quite possible that traders are looking to push prices down to the low $8,000s. This will potentially be seen as a buying opportunity for the reasons mentioned above.BTC USD 4-hour chart. Source: TradingViewPeriod of uncertainty continues Overall, the market continues to be in a period of uncertainty, with the general view being that it is a period of continued consolidation. There is certainly a case for Bitcoin to try for higher prices this week but ultimately the trend continues to be consolidation within a downtrend.The bulls must break the descending resistance that has held back the price for months to make the first step towards breaking out of the downtrend. At this moment with the looming death cross, it is seemingly unlikely and thus price action favors the bears.The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Bitcoin [BTC] has been strongly holding above the $10,000 levels. The traders are at crossroads on whether the breakout would be bullish or bearish. Anthony Grisanti, founder of GRZ energy and CME futures trader rung bearish alarms, he said in an ,I actually think it heads lower from here It couldnt hold the 50-Day or the 50-Day Moving Avergae. Now, were on the verge of a death cross where the 21-Day is going to cross underneath the 50-Day moving average.$10,000 has become an important psychological support level and the low volume could lead to a massive move on either side.The support levels according to his analysis were $9500, $9200, with $8500 being the ultimate support. Nevertheless, while the technicals for a futures trader are bearish, the fundamentals on Bitcoin [BTC] is still strong. The impending global economic crisis along with the unrest in Hong Kong, Argentina, and around the world continue acting as a positive impetus to Bitcoin.Ethereum and Altcoin Bearish, Still? On the altcoin front, even the fundamentals were weakened recently as their economic value and utility have been challenged. Ethereum [ETH] and Litecoin [LTC] are still trading about 100% higher from their lows in December 2018. However, the technicals are beginning to sound bigger alarms for altcoins at the moment.Ameba , a crypto-trader tweeted called the near approaching death cross on the USD scale. He ,ETHUSD about to give us an EMA50 and 200 death cross on the daily unless some serious pump happens between today and tomorrow. This would line up quite nicely with the 4hr H&S being printed.Moreover, Ameba also cautioned about the head and shoulders pattern that is forming on the 4-Hour chart. As , Peter Brandt hadalso suggested that the pattern could be playing. However, confirmation on the bearish patterns is still pending.Bitcoin [BTC] and altcoins have decoupled their price movements lately. This is starting to reflect on the Technicals as well. Sawcruhteez, crypto-trader who reciprocated with the death cross analysis ,Longing $BTC and hedging with $alt shorts makes all the sense in the world over the upcoming weeks / months.However, developments around altcoins and positive regulatory decisions could soon change the outlook. Moreover, crypto whales have been known to feed on popular market sentiments. Hence, the swing traders will keep a close watch to the future movements.Bull or Bear: What is your position on Bitcoin and altcoins in the short term? Please share your views with us. The post Analysts Sound Death Cross Alarms on Bitcoin and Ethereum Here are the Levels to watch appeared first on Coingape.

The latest bullish rally initiated by that the cryptocurrency is gradually overshadowing the bear, and it is possible BTC revisits this years peak.Bitcoin now have its resistance around $10,000 level, and $9,000 being the psychological support as the cryptocurrency continues to hang over $9,300 level.Bitcoin saw a break above the 23.6% Fib retracement level of $9,194 low and $9,523 high, and it continues to test 9,500 and $9,600 resistance levels.However, a long-term indicator of Bitcoins price shows that the cryptocurrency has just made a death cross similar to that witnessed in March 2018 when Bitcoin saw significant price drop from its peak.Bitcoins 50-day MA cross below the 200-day MA affirmed the , nevertheless, indicators have it that Bitcoin, for some reasons, isnt in the dangerous zone.Probably due to the positive drive of Bitcoin in the market, people failed to accept the authenticity of the death cross. Normally, the rise of the 200 day MA line above the 50 day MA signals a big bad bear market, but experts determine the technical importance of cross based on the trend that initiated the cross, an analyst by name on Trading View has said.Also, other underlying indicators such as weekly momentum on the is very significant in determining the trait of the cross.CONS:According to the analyst MagicPoopCannon, Bitcoin has just registered a death cross after staying on the downside in the last four months, recording lower highs and lower lows since. Although we now have a transition back towards the upside, Bitcoins momentum is bearish on the MACD.PROS:The latest rally displayed by the leading coin shows that BTC has rallied back above 50 and 200 MA death cross, and could be in a massive bull flag. The Gaussian Channel is green and rising, and BTC has held above the 61.8% retrace (blue line) according to the expression made in the image below.Image Credit: The analysts furthered that even though the MACD is yet to register a bullish crossover, it is turning towards the upside and we can expect BTC to make a breakout of the bull flag.A print on the charts higher high by BTC will solidly affirm a strong indicator on the upside trend. However, if BTC fall below the 50 and 200 MA again, and the 61.8% retrace, we would be risking a major nosedive.Hence, the death cross come along with a mixed technical signal, the analyst concluded.TagsBitcoinBitcoin (BTC)Bitcoin PriceBitcoin Price AnalysisBTCBTC Price Disclaimer: Our writers invest in cryptocurrencies and it is possible the author of this article has investment in any of the digital currencies discussed. Some times author's presented information may be laced with opinions. Treat articles as mere information and not as financial advice.Dont miss any of our crypto news, Join our Telegram | Facebook | Twitter. You may also like Samsung Blockchain Keystore Now Supports TRON, after Including Bitcoin, Ethereum and KlaytnRipples Josh Lin: Dont Invest in XRP Alone, But in Basket of 5 CryptocurrenciesChina Says It is Launching Cryptocurrency DCEP to Fight SWIFT and CHIPSAbout the author View All PostsKhalid Lawal Lawal Khalid is an avid entrepreneur and a peace advocator. He takes time developing expertise in journalism, and he has significant contributions at Arianna Huffington's Thrive Global, Oracle Times, Coin Gape and a host of other notable news publications.Owing to his long time interest in innovative technology, Lawal cut into the blockchain world, and he has been unearthing meaningful investigation as well as noteworthy blockchain researches. Khalid sits at the helm of NewsLogical.com as a full time journalist and a senior market analyst. Email: lawal.khalid@newslogical.comAdd Comment Click here to post a commentS&P 500 Hits New Highs. Is Bitcoin About to Skyrocket?Mt.Gox Postpones Payment Rehabilitation Once again to March 2020Share This!

Bitcoin (BTC) was coming down from a fresh uptick on July 19 amid rumors United States authorities were preparing to investigate derivatives giant BitMEX.Market visualization. Source: Coin360Politics and investigations weigh on Bitcoin Data from Coin360 showed BTC/USD targeting $10,000 support at press time Friday, having risen as high as $10,750 in the past 24 hours.On Thursday, as the U.S. Congress met to debate the impact of Facebooks Libra digital currency, the focus shifted briefly to differentiating Bitcoin from Libra on a technical level.This appeared to boost sentiment, with BTC/USD jumping higher after hitting lows of $9,330. Volatility nonetheless remains high, with the pair regularly moving by hundreds of dollars in minutes.Bitcoin 7-day price chart. Courtesy of Coin360Now, reports that U.S. authorities will probe BitMEX over flouting a ban on residents using its platform appeared to pile fresh pressure on Bitcoin, deflating previous gains.For investor and trader Josh Rager, the current conditions are a cause for concern. Previous support levels for Bitcoin monthly at $10,759 and daily $10,850 have now become resistance as the price falls.This is the first level that BTC needs to reclaim for bullish continuation, he summarized.Bitcoin prices technical death cross Going forward, analysts urged caution. Despite recent weeks forming a rare bearish landscape after months of upwards momentum, complacency is unwarranted, popular trader Filb Filb told Cointelegraph. While there was a very nice move overnight, there is a huge amount of work to do before we can say bitcoin is bullish, he said. Filb Filb noted in particular a technical event, which should spell downward pressure, specifically a crossing over of the 50-day and 200-day moving average.We are still putting in lower highs and lower lows and face a large amount of resistance above, particularly having not yet regained the monthly open and having death crosses above on the 4-hour 50/200 MAs, he added.For altcoins, Bitcoins earlier move higher was still playing out across markets, with most tokens seeing modest gains over the past 24 hours. Ether (ETH), the largest altcoin by market cap, moved upwards by 1.4% to trade at $219, having previously slid down to $200 support. Ether 7-day price chart. Courtesy of Coin360Others fared better, with Litecoin (LTC), Tron (TRX) and Neo (NEO) all managing around 7% improvements on the day.Keep track of top crypto markets in real time here