Bitcoin price analysis: BTC/USD near-term recovery vulnerable


  • Bitcoin on Monday is trading up 2.60% in the second half of the session.
  • BTC/USD price action managed to stabilise, after bottoming down at $7500 recently.

 

The Bitcoin price late in the session on Monday is trading up some 2.60%, as the price managed to stabilize within the $7500 within recent sessions. It came following such a beating that was received last week, as the bears had firm control.

BTC/USD dropped it most seen in one week since November 2018, as the price lost much ground, having fallen to the lowest levels since June.

Price action via the 60-minute appears subject to a pullback. The last hourly candlestick has produced a bearish evening star formation, which could be followed up by some additional selling, as the bulls lose momentum, next 60-minute and psychological support appears to be back down at $8000. 

BTC/USD 60-minute chart

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin Price Analysis: BTC/USD closes in on critical $10,000

Bitcoin (BTC/USD) posted small losses on Saturday and closed the day above the critical Fibonacci level to gain traction during the Asian trading hours. As of writing, BTC was trading at $9,940, adding 2.75% on the day.

More Bitcoin News

Ripple Price Weekly Forecast: XRP/USD road to $0.35 mapped

As the week grinds toa halt, cryptocurrencies are rolling in a positive direction. The positive resonation comes after a couple of days that saw bulls paralyzed in the cryptocurrency market.

More Ripple News

Ethereum Price Analysis: ETH/USD adds more than 4%, trades above $270

Boosted by the positive mood surrounding the major cryptocurrencies, Ethereum easily erased the losses it suffered on Saturday and preserved its bullish momentum to climb above $270.

More Ethereum News

XMR/USD bulls retain momentum and keep the price above $80

XMR/USD bulls managed to retain control in the early hours of Saturday as the price went up from $80.40 to $81. XMR/USD is currently trending in a downward channel formation after it had ...

More Monero News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC bulls plot the revenge

Bitcoin's market capitalization settled at $176 billion, which is 62.8% of the total digital assets market.

Read the weekly forecast

BTC

ETH

XRP