View Bitcoin fell 2.87 percent on Tuesday, ending the longest stretch of daily gains since July 2018.
On the way higher, BTC may face resistance at the key Fibonacci retracement level of $9,642.
Bitcoin's price closed on a negative note on Tuesday, snapping the longest daily winning streak in 11 months.
That was the longest stretch of daily price gains since July 2018.
The price had advanced for seven successive days - from July 13 to July 19 - to hit highs above $7,500, as per data source CoinMarketCap.
BTC's previous three-day candle closed above the high of $9,006 hit on May 30, establishing another bullish higher high.
It is worth noting that the cryptocurrency has charted a series of higher lows and higher highs since early February.
The outlook would turn bearish if the price drops below recent lows below $7,600, violating the bullish higher lows pattern.
The RSI has produced lower highs on the 4-hour chart over the last five days, contradicting the higher highs on price.
A break below the overnight low of $9,005 would confirm bearish lower highs and lower lows pattern and allow a deeper drop to $8,600 - support of the trendline connecting June 10 and June 11 lows.
Bitcoin's Price Snaps Longest Daily Win Streak Since 2018
pubblicato su Jun 19, 2019
by Coindesk | pubblicato su Coinage
Coinage
Menzionato in questo articolo
Notizie recenti
Vedi tutti
Blockchain Bites: Bitcoin's Run, Uniswap's Hemorrhaging Value, Anchorage's Banking Bid
Bitcoin is nearing all-time highs in price and market cap last set three years ago.
Japan's megabanks to lead experiment with digital yen
We have, in order, Cheese Bank with a $3.3 million theft, Akropolis with its $2 million loss, Value DeFi with a whopping $6 million exploit and finally Origin Protocol's loss of $7 million.
Number of new Bitcoin addresses spikes amid growing FOMO
Japan's three largest banks, as part of a group of 30 private sector actors, are set to collaborate on an experiment with a digital yen.
Not just Wall Street: Quant trader explains why Bitcoin price is going up
Sam Trabucco, a quantitative trader at Alameda Research, believes four general factors are pushing up the price of Bitcoin.