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Bitcoin’s $800 Price Recovery Runs Into Key Resistance

View Bitcoin’s bounce from Monday’s three-month low of $7,715 is struggling to beat the 200-day moving average resistance, currently at $8,440. The recovery rally lacks volume support and could be short lived. A rising wedge breakdown seen on the hourly chart favors a drop to levels below $8,000. A close above Monday’s high of $8,368 […]

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Bitcoin (BTC) Hashrate Recovers Day After Crash

The drop in hashrate had nothing to do with the falling price of BTC, and was probably due to a facility going offline temporarily. The Bitcoin (BTC) hashrate recovered after a one-day crash of nearly 30%, assuaging fears that the network is in trouble. BTC mining now happens at 94 EH/s, near the absolute peak just above 100 […]

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Bitcoin Price Dips to $9.6K as Bear Cross Looms

View BTC quickly fell to $9,600 this morning, bolstering the bearish setup on the 4-hour and daily charts. A deeper drop to key support at $9,454 may now be in the offing. A UTC close below $9,450 would confirm a downside break of a three-month-long contracting triangle and expose the 200-day moving average (MA) support […]