Bitcoin has been flashing signs of bourgeoning technical strength in the time following its recent dip to lows of $8,100.
From this point, the cryptocurrency has been able to incur a steady climb higher that has since allowed it to once again surmount the $9,000 region.
BTC is now fast approaching a key trend-defining moving average that could play a huge role in determining which direction the cryptocurrency trends in the months ahead.
One analyst believes that a firm break above this level could be all that is needed for BTC to rally up to fresh post-2017 highs of $14,000. If this climb occurs, it could mark the start of the cryptocurrency’s next parabolic uptrend.
Bitcoin Incurs Notable Momentum as It Approaches Upper Boundary of Channel
At the time of writing, Bitcoin is trading up just under 2% at its current price of $9,060, marking a notable climb from daily lows of just under $8,800 that were set yesterday.
The cryptocurrency’s recent price action has largely marked an extended bout of consolidation as it hovers around $9,000. Today’s push above this level does seem to mark a bullish resolution to this sideways trading, but it is imperative the it continues climbing higher in order for this to be confirmed.
Some investors had previously speculated that BTC would see a post-halving selloff due to the hype surrounding this event fading.
It doesn’t appear that this is the case, however, and the widely discussed “halving dip” may have been the movement seen a few days ago when the cryptocurrency declined from $10,000 to lows of $9,100.
One possibility that analysts are watching in the near-term is that the crypto is trading within a large descending channel and that this latest decline from $10,000 marked a rejection at the channel’s upper boundary.
“BTC – Wouldn’t it be a hoot if this was just one giant channel with Bitcoin doing a fake-out before moving back down to the midline,” one analyst questioned while pointing to the below chart.
Image Courtesy of Josh Rager
BTC Could Be Poised to Push Towards $14,000
Assuming that this channel doesn’t spark a mid-term downtrend, it is possible that Bitcoin will soon rally up to fresh post-2017 highs.
This movement could be triggered by a movement over the cryptocurrency’s 50-day moving average, which is sitting just above its current price level.
Another respected analyst spoke about this level in a recent tweet, explaining that a move above this level would also help BTC break above a descending trendline that has been respected throughout the time following BTC’s rejection at $13,800 seen last summer.
“let BTC reclaim MA50 and 14k+ is next imo,” he explained while pointing to the below chart.
Image Courtesy of CryptoBirb
Featured image from Unplash. origin »
Key Highlights • BTC/USD market still trades in a rallying moving mode from a significant fall.• The bulls appear not recovering quickly from the last drop.• An $8,000 mark will serve as a tough area that the bears may not easily break down in the present trading situation of the crypto-economy. Bitcoin (BTC) Price Analysis […]
Ethereum is up around 2% and it broke the key $210 resistance against the US Dollar. ETH price is showing positive signs and it could rise further, similar to bitcoin. Ethereum is slowly moving into a bullish zone above the $210 pivot level.
Bitcoin saw some notable overnight volatility that caused it to post an upswing followed by a swift rejection, before once again climbing higher The benchmark cryptocurrency is now moving to test its next key resistance that sits at roughly $9,500 Analysts are now noting that a clean break throughout a heavy overhead supply region just above BTC’s current price could be just what it needs to make a move up to $14,000 Bitcoin’s intense uptrend […]
After the bulls managed to break above the key resistance around $8,800 earlier this week, the BTC price has been consistently moving upward. The price is now hovering at $9,300 as bulls aim for the $9,400 resistance.
Bitcoin has been able to once again push into the upper-$7,000 region after facing multiple rejections here throughout the past few days The cryptocurrency is pushing up against its 200-day moving average – a key trend-determining level A break above this 200-day MA could spark a major upside movement, with some analysts thinking this is imminent After facing multiple harsh rejections within the upper-$7,000 region throughout the past couple of days, Bitcoin has been able […]
Key Highlights BSV/USD trade operations are yet in a range moving outlook. BSV/USD market, may in the long, continue its range moves around a $240 value. BSV/USD market operations will continue to trade in a range-bound outlook until the next sessions.
Although the past few weeks have been marked by crypto assets jumping 5% then crashing 5% again and again, Bitcoin and the rest of the cryptocurrency market is actually consolidating. The chart below shared by a crypto trader proves this point: it shows that Bitcoin has been trading tightly between the key 50-day and 200-day simple moving averages for the past two weeks.
Key Bitcoin takeaways: Bitcoin opened this week in positive territory, unfazed by the growing Coronavirus pandemic that crashed its prices by over 50 percent in March. The cryptocurrency remains trapped under the $7,500-resistance but is holding above a crucial medium-term technical support.
Ripple price is currently moving higher and trading above the $0. 1400 resistance area. XRP to USD is likely to continue higher towards the 0. 1640 and $0. 1700 resistance levels. Key Takeaways: XRP/USD Ripple price is slowly recovering from the $0.
Key Highlights BNB/USD market valuation has been on a retracement moving mode. The BNB/USD pair is likely to retard any fake downside pressures around the $20 point. The SMA trading tools have indicated a $20 price zone as a crucial trading line.
Key Highlights XRP's price valuation trades in a rally moving mode from a low line at $0. 22 mark. The XRP/USD market bulls are not strong in exerting much-needed forces. There may be an occurrence of a series of range price movements soon around the $0.
Key Highlights XLM/USD price worth has been relatively declining in sequential order. The XLM/USD pair has hit a low value of $0. 06000. Caution needs to be exercised if the crypto-market eventually runs in a consolidation moving mode afterward around its major demand zone.
Key Highlights BTC/USD pair currently trades in a range moving outlook around $10,000 and $9,600 market levels. A breakdown of the lower range point at $9,600 will let the pair find support between $9,200 and $8,800 price levels.
Key Highlights BNB/USD market now falls under a weak retracement moving mote. The crypto is potentially mustering up energy around a $20 price point. An indecisive trading condition may soon ensue in no time in the BNB/USD market.
Key Highlights XRP/USD market now trades in a correctional moving mote around $0. 32 value. Trading around $0. 34 and $0. 32 price values may generate into seeing line of further range market movements.
Key Highlights BCH/USD market now trades in a range moving formation primarily around $440 market line. Technically, the $440 and $400 price territories may now act as the main trading zones. Traders need to look out for a price action before placing an order in the present market situation.
Since the start of the year, Ethereum has been moving steadily upwards, sometimes violently, to form a steep vertical channel. And yesterday’s sharp gains saw a breach of the key $200 level. As such, analysts expect this to be a massive turning point for the number two cryptocurrency, which up until the start of the... The post appeared first on NewsBTC.
XRP has been rallying throughout the last week, pushing through downtrend resistance and is potentially ready to reclaim former highs. The first step in an attempt at breaking above recent bear market rally highs is recapturing the 200-day moving average – a feat that XRP just achieved after the latest pump above.
If you told investors in mid-January that Bitcoin would soon surmount $9,000, they might’ve thought you were crazy. At the time, the cryptocurrency had just been rejected multiple times from key resistances in the high-$8,000s — namely the ever-so-important 200-day moving average (seen as a “make or break” level) and the horizontal right around $9,000... The post appeared first on NewsBTC.
Ethereum price started a downside correction from the key $180 resistance area against the US Dollar. ETH is currently below $175, but it is holding the 100 hourly simple moving average. Ethereum failed to climb above $180 once again and recently declined below $175 against the US Dollar.
Bitcoin was failed to break above 200 day Moving average during its last rally from 6800$ to 9200$. But Finally Bulls managed to break above this key level. Bitcoin broke above 200MA when price breached through 9000$ during morning trading hours.
Ethereum is slowly moving higher and trading above the $161. 80 support vs the US Dollar. ETH to USD is likely to surge again if it clears the $170. 20 and $172. 30 resistance levels. Key Takeaways: ETH/USD Ethereum price is showing a few positive signs above $161.
Last week’s explosion in growth across Bitcoin and the altcoin market caused the total cryptocurrency market cap to all break above the 200-day moving average – an important level that smart money often trades based on.
A long-term bitcoin price resistance has flipped to become support for what appears to be a potential bullish action. The 50-weekly moving average (50-SMA), which measures the average of bitcoin prices over a 50-week period, looks to assume the role of a strong pullback level.
Ethereum is slowly moving down and it recently broke the $125 support against the US Dollar. The price is now facing a couple of key hurdles near the $126 and $128 levels. Yesterday’s key bearish trend line is active with resistance near $127 on the hourly chart of ETH/USD (data feed via Kraken).
With Bitcoin collapsing by 5% in the past days, moving from $7,150 to $6,750 as of the time of writing this, traders have once again flipped decidedly bearish on cryptocurrencies. Related Reading: Could Post Crypto Bubble Bitcoin Follow Dot Com Crash NASDAQ Chart? They fear that this latest move under the key support of $7,000.
As prices slowly recover following a rough November, metrics for bitcoin and Ethereum illustrate positive industry sentiment moving forward. These metrics include measures related to active addresses, fees, movement, mining, and more, as outlined in Coin Metrics’ State of the Network: Issue 28.
China is moving towards a blockchain-based future, a technology it sees as the key to global dominance. President Xi Jinping's endorsement of the technology has only accelerated the plans of many platThe post OKCoin operator to invest $140M in China for blockchain adoption appeared first on AMBCrypto.
As the Bitcoin price surpassed $7,500 on Nov. 27th, a key long term trend indicator showed that it is still a good period to accumulate BTC. Since the Ecoinometrics team released its latest “Daily Bitcoin Mayer Multiple Report” citing the Mayer multiple, a ratio of the Bitcoin price to 200-day moving average, the Bitcoin price […]
The post Key indicator shows its good time to accumulate as Bitcoin price touches $7800 appeared first on CryptoSlate.
The recent plunge in the crypto markets has pushed Bitcoin (BTC) to a “make or break” point — the 21-month simple moving average, which sits in the high-$6,000s at current. As analyst Byzantine General recently pointed out in a recent tweet, this level has been the point at which BTC has bounced in two previous.
Over the past day or two, Bitcoin (BTC) has started to settle in a price range, the low-$8,000s. As it stands, the crypto market seems somewhat directionless, stuck between resistances and supports above and below its current price.
The trial of an American lawyer accused of laundering money for the notorious OneCoin pyramid scheme, began in New York yesterday. The lawyer is the first of three key players in the scam to face trial.
There are positive signs emerging for bitcoin above the $9,200 support against the US Dollar. The price is slowly moving higher and it could retest the $9,770 resistance area in the near term. There was a break above a key contracting triangle with resistance near $9,240 on the 4-hours chart of the BTC/USD pair (data.
Ouch. Over the past few hours, Bitcoin has finally seen some volatility play out after a multi-week lull, plunging below $7,500 after holding in the low-$8,000s for days on end. Per previous reports from NewsBTC, this move largely caught traders off guard, with there being a massive long liquidation event of over $200 million on.
Ethereum price is declining again after it failed to break $178 and $180 against the US Dollar. Bitcoin price is also moving down and it is likely to break the $8,000 support area. There is a key bearish trend line forming with resistance near $172 on the hourly chart of ETH/USD (data feed via Kraken).
The total crypto market cap is currently correcting higher, but facing hurdles near $215. 0B. Bitcoin price jumped more than 5% and it is trading above the $8,200 resistance area. EOS price is slowly moving higher towards the key $3.
An impending bear cross of the 128 and 111-day moving average could see Bitcoin price drop below the $7,777 and $7,700 support to new lows below $7,300
Over the past few days, Bitcoin (BTC) has started to settle in a price range, the low-$8,000s. For now, the cryptocurrency seems directionless, stuck between resistances and supports above and below its current price.
The total crypto market cap is slowly moving higher towards the key $220. 0B resistance area. Bitcoin price might soon make another attempt to surpass the key $8,500 resistance area. BCH price is holding the $220 support, but it is facing hurdles near the $235 resistance.
In the past seven days, the bitcoin price (BTC) plunged from $10,100 to $7,736 in a steep overnight pullback that liquidated close to $800 million worth of long contracts on cryptocurrency margin trading platforms.
Bitcoin price is consolidating above the $95,000 support zone. BTC must settle above the $100,000 level to start a fresh increase in the near term. Bitcoin started a fresh increase from the $94,200 zone.
Bitcoin price started a fresh upward move above $100,000. BTC is facing resistance at $103,000 and might aim for an upside break. Bitcoin started a decent upward move above the $100,000 zone. The price is trading below $103,200 and the 100 hourly Simple moving average.
Bitcoin price settled above the $100,500 resistance zone. BTC is consolidating gains and might aim for a fresh increase above the $105,000 zone. Bitcoin started a downside correction from the $106,800 zone.
