Dogecoin Spot Flows Turn Negative as Market Braces for Key Week Coinpaper
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The crypto market is bracing for huge volatility amid Bitcoin (BTC) and Ethereum (ETH) options expiry on Friday. Traders expect price action to remain choppy as crypto options expiry coincides with today’s key Nonfarm payrolls jobs report and unemployment rate data. Escalating the US-Israeli conflict against Iran is increasing uncertainty in global markets and risking
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]]>Crypto market traders are bracing for heightened volatility and potential selloffs as Bitcoin (BTC) and Ethereum (ETH) options expiry coincide with Friday’s ‘Triple Witching’ event. What’s next for BTC price and the broader crypto market? Over $2.1 Billion in BTC and ETH Options Expires Today According to crypto derivatives exchange Deribit data, more than 24K
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]]>Bitcoin price failed to extend its recovery wave above the $70,500 zone. BTC is now consolidating and might decline again below $68,500.
- Bitcoin started a decent recovery wave above the $68,500 zone.
- The price is trading above $68,650 and the 100 hourly simple moving average.
- There is a key declining channel or a possible bullish flag forming with support at $68,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).
- The pair might dip again if it trades below the $68,400 and $68,000 levels.
Bitcoin Price Faces Key Resistance
Bitcoin price remained elevated and extended its increase above the $68,800 level. BTC climbed above the $69,500 and $70,000 resistance levels.
The bulls pushed the price above the 61.8% Fib retracement level of the downward move from the $74,062 swing high to the $65,645 low. However, the bears are still active near $71,200. The price failed to extend gains and started a bearish wave below $70,000.
Bitcoin is now trading above $68,800 and the 100 hourly simple moving average. There is also a key declining channel or a possible bullish flag forming with support at $68,400 on the hourly chart of the BTC/USD pair.
If the price remains stable above $68,400, it could attempt a fresh increase. Immediate resistance is near the $70,000 level. The first key resistance is near the $70,500 level. A close above the $70,500 resistance might send the price further higher. In the stated case, the price could rise and test the $71,200 resistance. Any more gains might send the price toward the $72,000 level or the 76.4% Fib retracement level of the downward move from the $74,062 swing high to the $65,646 low. The next barrier for the bulls could be $72,650.
More Downside In BTC?
If Bitcoin fails to rise above the $70,500 resistance zone, it could start another decline. Immediate support is near the $68,800 level. The first major support is near the $68,400 level.
The next support is now near the $68,000 zone. Any more losses might send the price toward the $67,250 support in the near term. The main support now sits at $66,500, below which BTC might struggle to recover in the near term.
Technical indicators:
Hourly MACD – The MACD is now gaining pace in the bearish zone.
Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now below the 50 level.
Major Support Levels – $68,400, followed by $68,000.
Major Resistance Levels – $70,500 and $71,200.
Cardano braces for impact as US tariff storm brews FXStreet
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The current losses plaguing the crypto market could get even worse amid potential macroeconomic changes. This comes as the BOJ board members continue to push for further hikes in its interest rates. BOJ Board Insists on Interest Hikes Amid Crypto Market Jitters Board Members of the bank have continued to push for further interest rate
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]]>Cardano’s Ecosystem Braces for Major Enhancements Amid Divergent Investor Sentiment AD HOC NEWS
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Cardano Ecosystem Braces for Significant February Developments AD HOC NEWS
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As investors are taking a cautious stance ahead of US President Donald Trump’s scheduled executive order today, Bitcoin has slipped to a two-month low. On Thursday, White announced the Trump executive order and a subsequent policy meeting scheduled for Friday. While specific details were not disclosed, speculations sparked uncertainty across risk assets, including cryptocurrencies. Bitcoin
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]]>Cardano Ecosystem Braces for Major February Developments AD HOC NEWS
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