Categories: Bitcoin Business

Bitcoin (BTC) price analysis: A fall below $3655 possibly sends BTC to $3100 range and lower

Click here to view original web page at

The majority of crypto currencies – and with them Bitcoin – have had to endure violent price drops in recent weeks. Can one slowly speak of the hoped-for bottoming out? Bitcoin is hovering around $3770 and is down 4.37% on the day.

The short-term floor presented at 3,655 US dollars held up well. The counter-movement that started here reached the downward trend of May 2018 and the 78.6 percent Fibonacci retracement and briefly outperformed it.

For now, there was nothing more to be gained. The high for the period to date has been 4,448 US dollars. As long as the Bitcoin exchange rate does not find a way over the 4,872 US dollar, the bearish scenario will not be shaken.

The moving averages still provide an intact sell signal. The cloud of the Ichimoku-Kinko-Hyo-Indicator continues to build up and is a proud 20 percent away from the current price development.

Bullish variant:

The annual low of the Bitcoin price is not beaten. In the best case, a stabilisation at the current price level can take place on the downward trend from May 2018. This has a supportive effect. The next point of contact is then at the high of 4,448 US dollars. Above this, the path is clear up to 4,701 US dollars. With this movement, the moving averages should be about to negate the sell-signal. In addition, the 61.8 percent Fibonacci retracement is reached. The following targets are set for 4,872 US dollars:

5,428 US dollar

5,877 US dollars

Bearish variant:

The downtrend from May 2018 is confirmed as resistance and left to the downside. The low for the year of 3,655 US dollars is tested again and beaten. The overriding downward target of 3,303 US dollars is set to begin. The sell-signal via moving averages and Ichimoku-Kinko-Hyo-indicator continues to hold. A sustained breakthrough below 3,132 US dollars activates the targets:

2,629 US dollar

1,920 US dollars

1,601 US dollars

1,224 US dollars

Technology front is humming

This year and the next one are going to be Lightning Network marked. Lightning payments are increasingly accepted for real goods and services.

One of the very earliest adopters of the Lightning Network was a prepaid top-up service Bitrefill, in March of this year. CEO Sergej Kotliar has been keeping a close eye on Lightning Network usage since, telling Bitcoin Magazine:

“We’ve processed 2,170 regular Lightning orders at this point, receiving a total of 6.3 bitcoin. The share of Lightning payments is steadily growing and [is] currently at about 2.5 percent of our bitcoin orders. We’re generally waiting on two things for this to take off bigly: more wallets and exchange integration.”


Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Published by

Recent Posts

Authorities Bust Illegal Crypto-Mining Lab In Nuclear Power Plant

Ukrainian news media is reporting that last month an illegal cryptocurrency mining operation was discovered and confiscated on the site… Read More

6 hours ago

Why Mark Carney Thinks The Dollar Can No Longer Be The World’s Reserve Currency

While Jerome Powell's highly anticipated Jackson Hole speech was, in the words of Brean Capital's Russ Certo "underwhelming and anti-climatic",… Read More

6 hours ago

Bitcoin Transactions Lead to International Drug Trafficking Ring’s Arrests

Criminals often express their favoritism toward cryptocurrencies. The perceived privacy and anonymity associated with this payment method makes for an… Read More

6 hours ago

Initiative to Curtail Negative Interest Rates Gains Traction in Germany

Negative interest rates, a common occurrence in Europe these days, are unpleasant for both banks and clients. And financial institutions… Read More

6 hours ago

Analyst Says Bitcoin Is About to Seriously Impress Us

As of late, bitcoin – the granddaddy of all crypto – is once again experiencing small bursts of bearish behavior.… Read More

6 hours ago

Gloomy Stock Market Faces New China Taunt: We’ll Get ‘Last Laugh’

A gloomy stock market must wrestle with China's latest taunt, in which it warned it would "fight to the end"… Read More

6 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More