Bitcoin Crashed, Latest Bitcoin News Live Coverage

Bitcoin- All Markets of Big Coins are Crash now.
Bitcoin’s critical rejection on a weekly time frame indicates sub-$7,000 soon

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So far, 2020 has been a tumultuous year for Bitcoin with the price heading close to $15,000. Since this point, the price has been on a rocky journey, visiting the $3,000 level, hitting $10,000, and dipping as low as $8,100 recently. Considering the month of April has the highest average volatility, and with halving around the corner, things will be much more volatile.

Bitcoin’s Daily
On a daily time frame, Bitcoin seems to have developed a parallel channel pattern with a positive slope. These patterns represent a bearish outcome for Bitcoin post halving, at least for the short term. At press time, the May 10, drop took the price down to $8,100, which is close to the lower line of the parallel channel. To complete the pattern, the next candle or perhaps, today’s candle could dip below the current support [$8,707] and touch the bottom line, which is positioned at $7,811.

The breakout might take place in the next few days, however, identifying the extent of the breakout would better position traders to take profits and not overextend. The technicals indicate that the price would head to $5,869, but it seems too soon to predict that. However, the potential levels that bitcoin could find support include $7,811, the point at which the price will touch the bottom line of the channel.

Following this, the level ranging from $7,356 to $6,785 seems plausible. This is the range where Bitcoin spent almost two months in 2019 and a small part of early 2020. Hence, this range is strong support, meaning, Bitcoin will probably end its bearish breakout from the pattern at this level.

In an extremely bearish scenario, the price might head as low as $5,869. This could be possible if halving will take out a lot of miners causing the hash rate to drop and create a cycle, in which, the price gets affected and drops.

The weekly chart for Bitcoin showed an interesting rejection at a sloping resistance that extends as far back as 2017. This goes to show that the price wasn’t primed for a rally like 2017-style. However, for now, the rejection opens up possibilities of lower treading price for the next 2-3 months, perhaps, 4 months, depending on how fast the price heads lower.

As seen above, the only thing preventing the price heading lower is the 21 WMA which is supporting the price. On a bearish case, if the 21 WMA gives away, the support that will hold the rampaging bears stands at $6,801, a level discussed in the daily time frame. The “ping arrow” shows the price trend of BTC in the next few months should it continue to head lower.

Conclusion
The following levels are critical in determining where BTC will head – $8,707, $7,811, $7,356, $6,785, and $5,869. An extremely bearish scenario on the weekly time frame showed that the price would head to $6,801. It should also be noted that there is a chance for the price to bounce at the 21 WMA and head higher, retest the sloping resistance.

Sudden Bitcoin Crash Sparks Serious Coinbase Warning.........

Bitcoin, after rallying to over $10,000 per bitcoin in the last few days, has suddenly crashed back.

The bitcoin price lost more than 10% in a matter of minutes yesterday evening, dropping to lows of $8,100 on the Luxembourg-based Bitstamp exchange before rebounding to settle around $8,600.

However, an outage on major U.S. bitcoin and crypto exchange Coinbase just after bitcoin's price plummet left many users unable to trade—the second time in less than a month Coinbase has buckled under stress.
"How many times do we have to say take your bitcoin off of Coinbase if you want to have access to it," Rachel Siegel, a bitcoin and cryptocurrency content creator, warned via Twitter, adding, "this is not the first time Coinbase has gone down and it surely will not be the last."

"Coinbase acting like the NYSE circuit breaking," joked Jason Williams, cofounder and partner at bitcoin and crypto hedge fund Morgan Creek Digital, suggesting that Coinbase outages could dampen spikes and dips in the bitcoin price.
Coinbase acknowledged the outage and said it was "investigating this issue" before declaring the incident resolved three hours later. Coinbase has been contacted for further comment.

Intermittent Coinbase outages are becoming a predictable problem for users of the popular San Francisco-based bitcoin and crypto exchange.

At the end of last month, just as bitcoin rallied some 15% to around $9,000, Coinbase experienced a similar outage—despite data provider Skew finding Coinbase volume was not excessively high relative to other peaks in trading volume during the past two weeks.







This week in crypto: Bitcoin prepares for halving, Libra appoints CEO
All eyes are on Bitcoin ahead of Tuesday’s halving, which has historically been associated with a price rise.