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Showing posts with the label downtrend

Chainlink Bears Show Strength, But $16 Support Could Flip The Downtrend

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Bitcoin transaction volume spikes, breaks downtrend as people buy the dip

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Bitcoin (BTC) investors are back using the blockchain as Bitcoin’s transaction volume surged, breaking a four-month downtrend . Meanwhile, the crypto exchange‘s flow and social context indicators suggest people are buying the recent price dip. Previously, a transaction volume uptrend sent Bitcoin’s price from $26,500 to the $73,800 all-time high. BTC then consolidated in a four-month price range. As this developed, the transaction volume indicator entered a downtrend , which the cryptocurrency just broke from July 3 to 5. Finbold gathered this data from Santiment on July 6, as shown in the following chart. Notably, the network moved over 750,000 BTC on July 4, while exchange outflows peaked at a month’s high. Picks for you Bitcoin price prediction: BTC 'must close' above this level to resume bull ru...
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