Bitcoin price has crashed 17% since April 4 and is currently bouncing off the 200 three-day Simple Moving Average (SMA) at $39,506. This downswing was a major bearish event as BTC dropped below the bullish crossover between the 50-day and 100-day SMAs.
Crypto.com price is offering significant sell signals. Traders should proceed with caution.
- Crypto.com price may have printed a 5th wave impulse.
- CRO price has a substantial RSI divergence.
- Invalidation for the bearish thesis will be a close above $0.492
Bitcoin Price: Blockchain data suggests that the leading cryptocurrency may be in a sustained bear market as over 4.7 million Bitcoins are now held at an unrealized loss. Several bearish signals indicate that the bellwether cryptocurrency could continue to decline.
Solana (SOL) price saw its bullish reversal stop short on Sunday and is now nearing the monthly S2 support level again at $89.28. Although ASIA PAC equity and European indices are firmly in the green, the sentiment has not spilled over to US futures and cryptocurrencies yet. Expect a bounce off the monthly S2 support level and look for a first test at $100 to the upside before continuation this week towards $130.70.
Crypto.com said it stopped all deposits and withdrawals while it investigates “unauthorized activity” on some accounts.
The world’s second-biggest gold miner is confident prices will hold firm this year, if not rise, as investors use the metal rather than cryptocurrencies to hedge against inflation and jewelry demand picks up.