What stopped Bitcoin in its tracks?

Rajan Dhall, MSTA FX Daily

BTC USD techncial analysis chart August 8 2019

Above is the 4-hour BTC/USD chart that shows there was a key trendline set in place from the high seen on the 26th June to the next lower high made in 10th July. Today the BTC/USD price broke through the barrier but quickly rejected and broke back through backed by large volume.

The RSI indicator has also broken a bearish trendline to break lower. This comes after being in the overbought (positive) zone for some time. Does this mean the upside momentum is done? Not really, maybe it just means the price may have moved too far too quickly and some profit-taking is kicking in.

The on-balance volume (OBV) indicator is showing steadily increasing volume as the upward trend developed. At the top of the trend on the two bar reversal candles the volume peaked. This is also a bearish signal so in the base case view we can expect a pullback before the bulls test BTC/USD higher or the bears drag the price lower. The on-balance volume indicator measures the volume against up candles and down candles. If there is more volume as the price is rising the indicator will move higher and vice versa if prices are moving lover.

Author

Rajan Dhall, MSTA

FX Daily

Rajan Dhall is an experienced market analyst, who has been trading professionally since 2007 managing various funds producing exceptional returns.

Sonic Labs’ vertical integration fuels recovery in S token

Sonic, previously Fantom (FTM), is extending its recovery trade at $0.048 at the time of writing, after rebounding by over 12% the previous day. The recovery thesis’ strengths lie in the optimism surrounding Sonic Labs’ Wednesday announcement to shift to a vertically integrated model, aimed at boosting S token utility.

Midnight Price Forecast: NIGHT warms up as Hoskinson reveals March mainnet release

Midnight edges higher by 2% at press time on Thursday, driven by its founder announcing the mainnet release by late March at the Consensus 2026 event. The technical outlook for Midnight highlights a potential bottom formation that could ignite the next bullish trend.

Cardano Price Forecast: ADA eyes short-term rebound as derivatives sentiment improves

Cardano (ADA) is trading at $0.257 at the time of writing on Thursday, after slipping more than 4% so far this week. Derivatives sentiment improves as ADA’s funding rates turn positive alongside rising long bets among traders.

Top Crypto Gainers: Pippin rally logs over 75% gains, Aster and Kaia push higher

Altcoins, such as Pippin (PIPPIN), Aster (ASTER) and Kaia (KAIA) continue to trade in the green, defying the broader market pullback as Bitcoin (BTC) dropped to below $68,000. PIPPIN continues to rally and ASTER and KAIA show short-term recovery with possibilities of a breakout rally.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: The worst may be behind us

Bitcoin (BTC) price recovers slightly, trading at $65,000 at the time of writing on Friday, after reaching a low of $60,000 during the early Asian trading session. The Crypto King remained under pressure so far this week, posting three consecutive weeks of losses exceeding 30%.