Welcome to my Crypto Blog. Let's make some money and witness history together

Bitcoin Retreats After Failing to Hold Above 17K

Last week, Bitcoin rallied from around 12.5K to over 17K over the weekend. However, after a double top around 17K, price has been retreating sharply.


  • In the 4H chart, price is falling back below the 200- 100- and 50-period simple moving averages.
  • Price is also breaking below a rising support. 
  • Furthermore, the RSI has fallen below 40, which indicates loss of bullish momentum.
  • This dip can extend to 13470, where we should monitor for support. 
  • If a subsequent rally fails to break above 16K, we should strap up for further correction.
  • Bitcoin is essentially in a consolidation mode, and should be considered Neutral-Bullish.
  • Price action might be bearish in the short-term, within the context of a consolidation or bearish correction.
  • But I would still consider Bitcoin bullish as long as it holds above 10K, which will be a key psychological pivot. 

Verge/Bitcoin (XVG/BTC) Pulls Back After Bullish Breakout

Litecoin (LTC/USD) Uncoils with a Bullish Breakout to $300