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A closely followed crypto analyst says one key metric indicates Bitcoin (BTC) may have a hard time breaking out anytime soon. In a new thread, crypto trader Justin Bennett tells his 115,800 followers on the social media platform X that the Tether dominance chart (USDT.D) is flashing bearish for Bitcoin. Many traders closely watch the USDT.D chart as it shows how much of the crypto market cap is comprised of the stablecoin USDT. A bullish USDT.D chart is generally considered bearish for Bitcoin and other cryptocurrencies as it indicates traders are unloading their crypto holdings in favor of the stablecoin. Says Bennett, “Here’s the challenge for BTC bulls: Tether dominance has held above its previous range highs since February 5th, and it’s now testing this area as new support. If USDT.D drops back within the range on the high timeframes, then we have a bullish crypto market. If it can’t, expect sideways to lower for BTC, ETH, etc. It...

A crypto strategist is warning meme tokens Pepe (PEPE) and dogwifhat (WIF) are now in prime spots to witness deep corrective moves. Pseudonymous trader Credible Crypto tells his 425,900 followers on the social media platform X that he’s leaning bearish on PEPE. According to the analyst, the current PEPE rally will lose steam, setting the stage for a collapse below $0.00000570. “HTF (high time frame) distribution takes time. After bouncing off of our range lows, we are now back at the range highs and once again struggling to clear them – likely leading to another deviation and failure. The next leg down on BTC should give us an outsized move down on PEPE as well. I’m short.”  Source: Credible Crypto/X At time of writing, PEPE is trading for $0.000011, up over 13% in the past day but still close to Credible Crypto’s range high zone. Turning to fellow memecoin WIF, the trader says the altcoin is flashing a bearish setup at its rang...

VeChain is currently trading around the $0.023 mark on Monday and is up more than 2% in the day’s trade. VET performed well this month, as its price has been up close to 15% in the last 30 days. Its price has sustainably scaled up in the charts with only a few dips since September. The steady rise is making investors consider taking an entry position in cryptocurrency. Now that VET remains in the green, will the positive momentum carry forward for the rest of the month? This article will highlight how high or low VeChain could trade in mid-October 2024. Also Read: Malaysia’s Local Currency Ringgit Outperforms the US Dollar VeChain: VET Price Prediction For Mid-October 2024 Source: thecoinrepublic.com Leading on-chain metrics and price prediction firm CoinCodex has painted a bearish picture for VeChain. According to the price estimates, VET could begin to dip in the charts and cause losses to investors who take an entry position this week. The forecast estimates that the supply cha...

According to trading experts and analysts, Bitcoin (BTC) is not out of the woods yet despite the recent upside correction. Meanwhile, technical and fundamental analyses can provide insights as volatility hits and investors speculate on the cryptocurrency’s next move. One of these analysts is Credible Crypto , known for thoughtful and usually precise analyses of Bitcoin and cryptocurrencies. In a recent video, the trader explained he was waiting for a clearer signal before publishing an Analysis . Previously, Credible Crypto celebrated BTC reaching his “downside target” and being ready for a “full bull gear,” as Finbold reported. However, Bitcoin’s price chart has changed since his last Analysis , and BTC is not yet out of the woods. Picks for you Bitcoin price chart is still bearish, warns analyst ...

A "horrendous bearish engulfing" risks defining the weekly close, but all may not be lost, Bitcoin price analysts insist. Bitcoin (BTC) sought to snatch back lost ground on April 23 as ten-day lows remained in place. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView $26,600 becomes popular BTC price target Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it rose to circle $27,700 at the time of writing. Up around 2.5% from the lows set the day prior, the pair remained on traders’ radar as a potential short opportunity into the weekly close. “$26,600 is my target in my short position right now, and being the weekend it may take a bit longer to get there,” Crypto Tony confirmed to Twitter followers on the day. “It is the most logical target and we also have bids popped up down there too now, so i am expecting a reaction once tested.” BTC/USD annotated chart. Source: Crypto T/Twitter That target would mark a new bottom for Bitcoin, which lost 1...