Bitcoin’s price action seen throughout the past few days has quite boring for traders, with the benchmark digital asset forming a relatively tight trading range between $6,600 and $6,800.
This period of range-bound trading comes shortly after the crypto’s intense rebound from its recent lows within the $3,000 region, with the momentum incurred here being intense and far-reaching.
Although the selling pressure at $6,900 has so far been insurmountable, one top analyst and trader is now noting that BTC could “teleport” significantly higher if bulls are able to break this resistance.
Bitcoin Enters Firm Trading Range as Analysts Eye Reaction to Key Support
At the time of writing, Bitcoin is trading up marginally at its current price of $6,640, which is around where it has been trading at for over three days now.
This is also right around where bulls have been able to build some strong support, with $6,600 marking the lower boundary of the crypto’s current trading range, which has been ardently defended in recent times.
If buyers are able to post a continued defense of this level, the heavy selling pressure that exists between $6,800 and $7,000 may start degrading – opening the gates for notable upside.
Luke Martin, a prominent cryptocurrency analyst, explained in a recent tweet that in order for BTC to see any short-term bullishness, it is imperative that it closes one of its upcoming 4-hour candles above $6,800, with this potential close marking a similar one to that seen when the crypto broke the resistance at $5,600 last week.
“BTC has been stuck at the $6800 resistance level all week. Would like to see a 4hr close above that level to have any short-term bullishness. Can use the last breakout confirmation around 5600 as a nice example,” he noted.
$BTC has been stuck at the $6800 resistance level all week.
Would like to see a 4hr close above that level to have any short-term bullishness.
Can use the last breakout confirmation around 5600 as a nice example. pic.twitter.com/VhdW402TsJ
— Luke Martin (@VentureCoinist) March 27, 2020
Here’s How High BTC Could “Teleport” if Bulls Break Its Resistance
Cred, another highly respected trader and analyst, echoed Martin’s sentiment in a recent tweet, explaining that although Bitcoin’s daily market structure is bullish, there are still multiple bear-favoring factors.
Furthermore, he also notes that a clean break of the aforementioned weekly resistance could lead Bitcoin to “teleport” towards the upper-$7,000 region.
“BTC: Retesting weekly resistance. Daily market structure is bullish but i) weekly close was bearish; and ii) no daily close above resistance ($6900) yet. My bias is bearish until at least >$6900 (daily) but if resistance breaks a teleport is more likely than a pullback,” he explained.
$BTC
Retesting weekly resistance.
Daily market structure is bullish but i) weekly close was bearish; and ii) no daily close above resistance ($6900) yet.
My bias is bearish until at least >$6900 (daily) but if resistance breaks a teleport is more likely than a pullback. pic.twitter.com/SGUxo8g6Ux
— Cred (@CryptoCred) March 27, 2020
As Bitcoin approaches its next weekly close in a couple of days, how it trends in the near-term will be critical for determining its mid-term trend.
Featured image from Shutterstock. origin »
BlackRock, the largest asset management in the world, officially launched iShares Bitcoin Trust ETF (IBIT) for options trading in Nasdaq, while Bitcoin (BTC) hit an all-time high of $94,041. Since the Securities and Exchange Commission (SEC) approved Bitcoin ETF trading…
Bitcoin (BTC) continues its historic price trajectory, trading in the low $90,000 range at the time of writing. However, a trading firm suggests that Bitcoin dominance (BTC. D) falling below a crucial level could signal the start of the long-anticipated altcoin season.
Hong Kong's largest online brokerage Futu has launched retail Bitcoin trading on its platform. The move comes as the city aims to establish itself as a Bitcoin and crypto hub.
Bitcoin’s (BTC) price dropped to a one-month low following three consecutive trading days of outflows from its spot exchange-traded funds (ETFs). The leading digital asset surged to $67,000 before falling to around $64,500 during early Asian trading hours.
CME plans to launch spot Bitcoin trading, challenging Binance's dominance and highlighting Wall Street's crypto interest.
The post CME prepares to launch spot Bitcoin trading — FT appeared first on Crypto Briefing.
Learn how to earn Bitcoin (BTC) through mining, trading, freelancing, airdrops, and incentivized social media. Following the SEC’s approval of spot Bitcoin exchange-traded funds (ETFs) in the U.S. in January, the world’s largest cryptocurrency by market cap has increasingly become…
Following the 2024 Bitcoin halving, crypto trader @nobrainflip, who turned $8,000 into nearly $3 million by trading Bitcoin and altcoins, has shared 15 rules that guide his daily trading strategy.
Peter Brandt, a respected figure in the trading community, has recently shared his insights on the Bitcoin future price potential. Through a post on X, Brandt ignited discussions within the crypto community by commenting on Bitcoin’s recent attainment of a new all-time high (ATH).
Bitcoin spot trading volumes on centralized exchanges returned to peaks last seen when FTX crashed amid daily sustained demand for ETFs investing in crypto’s top currency.
Trading digital assets can be a risky choice because of the incredible volatility of the crypto markets where assets can rise or fall by as much as 20%-30% in a single day. While the last year or so has seen increased mainstream crypto adoption, the latest indication being the US approval of the Bitcoin ETF, … Continued
The post How to Use AI to Benefit from Trading Solana, SEI, MYRO and Bitcoin appeared first on BeInCrypto.
It has been a quiet week of caution for Bitcoin traders in terms of price action. This caution has trickled into trading volume in particular, as volumes on major crypto exchanges for both spot Bitcoin trading and Bitcoin derivatives have fallen far below their levels at the beginning of the year.
Quick Take The current trading position of Bitcoin paints a rather bearish picture as it lingers below multiple moving averages and cost basis. Hovering around the $26,000 mark, Bitcoin is trading below the short-term holder cost basis of $28,247.
Bitcoin price started a downside correction from $30,200. BTC is now trading near the previous breakout resistance at $29,400. Bitcoin is correcting gains and trading below the $29,800 level. The price is trading above $29,400 and the 100 hourly Simple moving average.
Data from IntoTheBlock reveals that over 75% of all Bitcoin holders are in the money at spot rates when the prices are at multi-week highs, trading at around $30,000 as of writing on June 22. Bitcoin has been on a firm uptrend over the past few trading days, propelled by supportive fundamentals.
Bitcoin (BTC) is trading at a premium of over 1% on Binance. US as the exchange’s USD trading volume has dropped to new lows after the U. S. SEC’s lawsuit, according to CryptoCompare data.
With Bitcoin’s uncontested popularity, traders and investors should know the basics of the largest crypto. This article will discuss whether learning to trade Bitcoin is difficult, explore its price history, and introduce a helpful tool – the Avorak AI Trading Bot – to make trading easier for beginners and experts alike.
Bitcoin [BTC] trading can be both lucrative and challenging. One of the keys to successfully trading this cryptocurrency asset is developing effective trading strategies that can help traders navigateThe post I asked ChatGPT Bitcoin’s 2023 price prediction, it mocked me with an advice appeared first on AMBCrypto.
Bitcoin price failed to settle above $23,500 and corrected lower. BTC is trading above $22,400, but it is now trading below the 100 hourly SMA. Bitcoin is slowly moving lower from the $23,500 resistance zone.
Since mid-December, bitcoin had failed to finish a trading day (universal coordinated time or UTC basis) over $17,000, and now analysts wonder if the largest cryptocurrency has formed a market bottom after a horrendous 2022.
The daily bitcoin trading volumes come out into billions of dollars every day, with hundreds of thousands of daily transactions being carried out. It is one of the reasons why bitcoin draws the most investors, given such high trading volume and good depth across all exchanges.
As Bitcoin passes $20,000, the market is expecting a strong October. The crypto is now trading between $19,712 and $20,479 at the time of writing. Since the crash of September 13 rattled the global financial system, this is the highest trading price BTC has reached.
Bitcoin surged by more than 5% today, but it’s now trading in the red. Its price action is likely correlated with the S&P500 trading at its lowest level since November...
Because they could not hold the support levels, bitcoin prices fell last week after trading in the $24k range for several weeks. The bitcoin price has now been trading at the $21k zone, where it has remained all weekend.
Bitcoin is still unable to break above or below its current range. Yesterday, BTC’s price was seeing a trading session in the green until a surge in negative news contributed to an increase in selling pressure.
Bitcoin isn’t the king of cryptocurrency for nothing. Most major cryptocurrencies have dipped incredibly low on Saturday, and that includes Bitcoin (BTC) but it doesn’t seem to budge. Bitcoin was trading at $39,510 late Friday, down 4%, based on charts by Coingecko, which signals dangerous waters in trading.
Avenue Securities now allows its over 500,000 Brazilian customers to buy, sell, and hold bitcoin in an integration with a third-party trading platform.
Bitcoin is poised for further upside as the first two futures-based Bitcoin ETFs prepare to start trading on the New York Stock Exchange. On Tuesday the ProShares ETF goes live with the Valkyrie ETF due to begin trading later this week.
The dramatic growth of Bitcoin and the wider crypto-market has pushed the asset class to the forefront of the investment space. This has been the case, despite growing regulatory concerns, numerous FUThe post Is there a bright side to 'Dark Pools' in Bitcoin trading appeared first on AMBCrypto.
Bitcoin and Gold.
At press time, both of these asset classes were trading in the red. Bitcoin, the world's largest cryptocurrency by market cap, was trading under the $42k-mark whereas the yellow mThe post Bitcoin could soon be 'off to the races' and hit $90,000 if... appeared first on AMBCrypto.
Interactive Brokers (IBKR), one of the biggest and oldest stock trading terminal, has launched spot bitcoin trading in addition to eth, litecoin and bitcoin cash. The service is currently limited...
Bitcoin has risen to just under $40,000 for the first time in six weeks with it currently trading at about $38,500 as it leads a crypto recovery with it unclear...
Though Bitcoin was initially conceived in 2009, Bitcoin first started trading in July 2010 for around $0. 0008 to $0. 08 per coin. Since then its growth has been phenomenal. It has also maintained its position as the largest cryptocurrency by market cap since it first began trading.
On-chain analytics firm, Nansen recently announced a partnership with Viction, a people-focused Layer-1 blockchain, to enhance analytics capabilities within the Viction ecosystem. The collaboration seeks to provide investors and developers with tools to maximize the benefits of building on the Viction platform.
The best meme coins are cryptocurrencies that began as jokes but now gained massive popularity, community, and some real-world value. Today, many new coins hitting the crypto world, and finding
The post 10 Best Meme Coins To Buy Now That Will Explode In 2025 appeared first on CryptoNinjas.
Lawmakers in Maryland, Iowa, and Kentucky have introduced legislation proposing the creation of Bitcoin (BTC) strategic reserves in their respective states. The latest bills bring the number of US states considering Bitcoin reserves to 17.
Blockchain technology is revolutionizing industries such as financial markets, global trade, insurance, and gaming, with the potential to bring hundreds of trillions of dollars worth of assets onchain.
The VIRTUAL price rose to highs of $2. 45 after Upbit, Korea’s largest exchange, announced trading support. Upbit planned to add VIRTUAL pairs against Korean Won, BTC and USDT. Virtuals Protocol is also among tokens in Injective’s AI index AIX.
Securitize and Apollo have teamed up to launch a diversified credit fund. The Apollo Diversified Credit Securitize Fund, ACRED, goes live on Aptos, Avalanche, Ethereum, and Solana blockchains. Tokenization platform Securitize has partnered with $730 billion alternative asset manager Apollo to bring a new tokenized credit fund on-chain.
The Bitcoin landscape is undergoing dramatic changes. Lately, a big number of “new” whales – wallets holding 1,000 or more BTC – has caught the attention of investors and analysts. Related Reading: Crypto IPO Boom On The Horizon, Says NYSE Listings Chief These new players, defined as entities accumulating Bitcoin over the past 155 days, […]