Analysts On Why Bitcoin Has Enough Momentum To Score $56,000 Forthwith

Analysts On Why Bitcoin Has Enough Momentum To Score $56,000 Forthwith
фото показано с : zycrypto.com

2021-8-21 23:28

Bitcoin traded above $48,800 on August 20 for the first time since May 17, holding the trading range between $46,000-$48,000 tight for the past three days. The top coin has soared 3.93% in the last 24 hours, to trade at $48,429 at the time of writing.

BTCUSD Chart by TradingView

Several crypto analysts speculate that the trend is consistent with bitcoin’s attempt to break resistance above the current range before heading to its next resistance at $50,000. However, slow impulse from bulls inside the market has made it hard for BTC to break out and stay stuck in this trading range.

According to crypto analyst and trader Michael van De Poppe, Bitcoin’s current resistance is at $48,000, and a breakout above this price would propel it higher, with a renewed upward push from the bulls.

“If we clearly breakthrough there, that is probably going to trigger a big short squeeze, as everybody’s looking for a short squeeze in this area.”

If bitcoin managed to breach and stay above $49,000, the squeeze could go all the way up to $55,000-56,000, which would act as the next resistance key resistance for the top crypto asset.

Bitcoin has Enough Momentum to Breach $50,000

According to technical analyst Rekt Capital, despite the bulls’ failure to help BTC breach and hold prices above $49,000, BTC still has more than enough fuel to continue its emerging upward trend.

“Though BTC has failed to retest the top of the previous ascending triangle breakout structure, it is still respecting this structure, finding support at the Higher Low trendline. As long as this trendline holds, the technical uptrend remains intact.”

On-chain analysis and rating provider Weiss Crypto observed that bitcoin miners’ activities point to the high possibility of an upcoming price rally.

“#Bitcoin miners’ profit has gone up 57% since June. And yet they have been mostly accumulating and not selling in the past weeks. This says a lot about their conviction in higher prices to come.”

If $45,000 as Support Fail

If Bitcoin fails to stay above $47,000, the coin could drop slightly to $44,600 as the next support level, but if the support failed too, bitcoin could topple further to $43,400, according to Michael Van de Poppe.

“#Bitcoin barely holding support here. If this is lost, then I’m assuming $44.6K and potentially $43.4 are the next levels for a test.”

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Chronobank (TIME) на Currencies.ru

$ 18.12 (+4.38%)
Объем 24H $1.054m
Изменеия 24h: 21.17 %, 7d: 15.92 %
Cегодня L: $15.89 - H: $19.14
Капитализация $12.867m Rank 938
Цена в час новости $ 19.51 (-7.12%)

time bitcoin 000- coin days tight three

Источник: zycrypto.com

time bitcoin → Результатов: 126


Crypto Analyst: Below $2k Bottom, Exciting Time For Bitcoin Long-Term Investors Looking To Enter

Crypto Analyst: Below $2k Bottom, Exciting Time For Bitcoin Long-Term Investors Looking To Enter The leading cryptocurrency Bitcoin is currently at $3,626 while registering greens of 0.21 percent, at the time of writing, as per the data provided by Coinmarketcap while managing the daily trading volume of nearly $6 billion. In the past 7-days, the […]

2019-2-15 20:06


Фото:

TIME Magazine: Bitcoin Development Should Be World Priority

TIME Magazine has produced a surprisingly complimentary appraisal of Bitcoin, saying the cryptocurrency “matters for freedom” and is a “way out” of authoritarianism. TIME: Can’t Trust Your Ruler? Go Bitcoin As 2018 draws to a close, TIME appeared to cap a year of mixed reviews of Bitcoin with an acknowledgment of at least some of its fundamental use cases.

2018-12-28 20:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Price Takes a Sharp Dip: Is This Just a Correction?

Bitcoin price is correcting gains from the $73,500 zone. BTC is back below the $70,000 level and showing a few bearish signs. Bitcoin started a fresh decline from the $73,500 zone. The price is trading below $71,500 and the 100 hourly Simple moving average.

Bitcoin Price Nears All-Time High: Can It Push Past the Mark?

Bitcoin price is rallying above the $72,000 zone. BTC is up over 5% and it could soon aim for a new all-time high above $73,500. Bitcoin started a fresh increase above the $70,000 zone. The price is trading above $70,500 and the 100 hourly Simple moving average.

Bitcoin Price Rallies Above $70K: Is a New High Within Reach?

Bitcoin price is rallying above the $70,000 zone. BTC is up over 5% and it could soon aim for a move above the $72,000 resistance zone. Bitcoin started a fresh increase above the $68,000 zone. The price is trading above $70,000 and the 100 hourly Simple moving average.

Bitcoin Price Targets Gradual Rise: Will the Uptrend Hold?

Bitcoin price is attempting a fresh increase above the $67,000 zone. BTC could gain pace if it clears the $68,750 resistance zone. Bitcoin started a fresh increase from the $65,500 zone. The price is trading above $67,200 and the 100 hourly Simple moving average.

Bitcoin Price Eyes Further Gains: Can It Keep Climbing?

Bitcoin price is attempting a fresh increase above the $37,000 zone. BTC could gain pace if it clears the $68,800 resistance zone. Bitcoin started a fresh increase from the $65,200 zone. The price is trading above $67,500 and the 100 hourly Simple moving average.

Bitcoin Price Could Reignite Uptrend: Is a New Surge Coming?

Bitcoin price tested the $65,200 zone before the bulls appeared. BTC is now rising and aiming for more upsides above the $67,500 resistance. Bitcoin extended losses and tested the $65,200 zone. The price is trading below $67,500 and the 100 hourly Simple moving average.