Chain News Today TheBitTimes.com

Bitcoin’s (BTC) recent rally and new all-time high beyond $126,000 are starting to show signs of overheating on Thursday, October 9, as the daily technical picture flashes historically fairly reliable indicators of a coming correction.  Namely, the Tom DeMark (TD) Sequential, which identifies potential reversals by counting consecutive price bars, rose to 9 on the cryptocurrency’s 24-hour chart.  This parameter, as on-chain crypto analyst Ali Martinez notes, has been quite accurate this year, as the same value presaged a 7% pullback in July and a 13% drop in August. What’s more, Martinez’s Analysis further suggests that the relative strength index (RSI) of 74.21 is likewise implying that “digital gold” is in the overbought zone. At the same time, the +100 reading on the Chande Momentum Oscillator (CMO), a market momentum measurement that oscillates between -100 and +100 and often peaks just before market reversals, adds further support to the argument. ...

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer ...

Bitcoin’s (BTC) ongoing correction below $100,000 could extend to $40,000 based on technical indicators, as highlighted by a trading expert. According to Alan Santana, Bitcoin has exhibited a ‘lower high’ formation that could foreshadow a continuation to a ‘lower low’ in the asset’s price trajectory, as per his Analysis shared in a TradingView post on January 8. Bitcoin price analysis chart. Source: TradingView The downward trend has been developing over the past month, with a strong bearish day on January 7 marking the highest volume since December 5. This drop confirmed the formation of a lower high, raising concerns about a potential crash. Picks for you XRP price prediction for Trump’s Inauguration Day 44 mins ago ...

On Tuesday, November 26, Bitcoin (BTC) yet again demonstrated a timeless truth to the saying that ‘pride comes before the fall.’ Indeed, after making a remarkable climb from about $68,000 on November 5 to November 22 highs above $99,000, BTC has entered a period of volatility and decline. Following a brush with a collapse over the weekend, the world’s premier cryptocurrency almost reclaimed $99,000 on Monday but again plunged one day later to its press time price of $92,146, down 5.6% in the last 24 hours. Picks for you Is the memecoin season ending? Binance founder CZ urges utility focus 57 mins ago Here’s why gold may not make a new high, as expected 1 hour ago ...