Bitcoin Enters “Uncharted Territory” as Macro Outlook Grows Bullish

Bitcoin Enters “Uncharted Territory” as Macro Outlook Grows Bullish
ôîòî ïîêàçàíî ñ : bitcoinist.com

2020-11-14 21:00

Bitcoin is holding steady above $16,000, even gaining some slight momentum above this level as buyers remain in full control This price action has been undoubtedly bullish for the cryptocurrency, with a daily close above this level confirming that this latest push higher is more than a fleeting pump Now that buyers have flipped this into support, it could be time for the crypto to see even further gains in the near-term One analyst explained that he believes Bitcoin is now entering what he describes as “uncharted territory” He notes that this type of technical strength at prices this high is unprecedented

Bitcoin has been flashing signs of immense technical and fundamental strength as of late, with the cryptocurrency continuing to push higher as bears struggle to gain any momentum.

The strength of its recent uptrend has been unwavering. Bears have attempted to reverse the trend back into their favor on multiple occasions, but strong rebounds have followed each of these dips.

The fact that buyers are aggressively buying each dip is a positive sign, and there’s a strong possibility that it will see further momentum in the near-term.

One trader explained that this is “uncharted territory” for the benchmark crypto, noting that there’s “tons of upside still ahead” for Bitcoin.

Bitcoin Stable Above $16,000 as Buyers Maintain Control 

At the time of writing, Bitcoin is trading down marginally at its current price of $16,200. This is where it has been trading throughout the past day, with buyers in clear control of its price action.

Because it closed its daily candle above $16,000 and shows no signs of breaking below it anytime soon, it appears that this is now support.

As such, it may be able to target $17,000 next. Each day it is getting one step closer to reaching its all-time highs.

Analyst: Further Upside Imminent as BTC Enters “Uncharted Territory”

While sharing his thoughts about Bitcoin’s macro outlook, one analyst explained that the crypto is currently in “uncharted territory.”

He does expect it to see significantly further upside in the mid-term.

“That’s not even hopium, BTC on monthly is already in an uncharted territory with tons on upside still ahead of it. If this keeps up, I might even get to reunite with the family members I shilled crypto to in Dec ’17.”

Image Courtesy of Cryptorangutang. Source: BTCUSD on TradingView.

The coming couple of days should shine a light on the macro significance of this latest push higher, as Bitcoin’s weekly candle close is just over 2 days away.

Featured image from Unsplash. Charts from TradingView.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Level Up Coin (LUC) íà Currencies.ru

$ 0 (+0.68%)
Îáúåì 24H $0
Èçìåíåèÿ 24h: 1.94 %, 7d: 12.29 %
Cåãîäíÿ L: $0 - H: $0
Êàïèòàëèçàöèÿ $0 Rank 99999
Öåíà â ÷àñ íîâîñòè $ 7.53E-5 (-100%)

above even level bitcoin buyers bullish flipped

Èñòî÷íèê: bitcoinist.com

above even → Ðåçóëüòàòîâ: 126


Bitcoin Struggles to Hold Above $10,000 as Risk of Serious Downside Grows

Bitcoin plunged overnight to lows of $9,900 once again, with bulls struggling to defend against it seeing further downside Analysts are widely noting that the cryptocurrency is now at risk of seeing even further downside in the near-term as it struggles to maintain above its crucial support One trader is noting that a continued bout of trading below $10,000 could strike a blow to the crypto’s technical structure He reckons that this will lead BTC […]

2020-9-7 21:00


Ôîòî:

Bitcoin Price Experiences Another Disastrous Fall, Risks Plunging Below $10k If This Happens

Bitcoin crashed with more than $1000 hitting a low point of $10,282 before rebounding above $10,436 to record the lowest price level seen in weeks. The crash comes after BTC’s breach of the $11500 resistance to rising above $11982, but $12k remains unachieved, even with many analysts forecasting that Bitcoin price would go as high […]

2020-9-4 11:58


Bitcoin & Gold Make An Inverted V on Fed’s Inflation Sacrifice; Stocks Roared Even Higher

The Federal Reserve will allow inflation to run above 10%, said Fed Chairman Jerome Powell during the much-awaited virtual speech from the central bank’s annual Jackson Hole, Wyoming symposium. Bitcoin’s price responded to the news quite visibly, forming an inverted V, as the digital asset jumped from $11,290 to just above $11,600.

2020-8-27 19:48


Here’s How Low Bitcoin May Drop Before It Can Rally Even Higher

To the surprise of some investors, Bitcoin has been able to find some relative stability above $9,500 The cryptocurrency has now been trading above this level for over a day, and bears have not been able to catalyze any type of sharp selloff It now appears that BTC may need to see a pullback before it can push any higher, as buyers seem to be losing their momentum One analyst is closely watching one crucial […]

2020-7-25 21:00


Ôîòî:

Bitcoin’s Move Past $9,000 Leaves Wake of Destruction; Liquidates $20m in Shorts

Bitcoin saw a sharp rise overnight that allowed it to firmly surmount the $9,000 region This upwards movement liquidated nearly $20 million in short positions, with buyers now attempting liquidate even more shorts in an attempt to fuel an uptrend The crypto has been rejected within the $9,200 region, however, which could halt its short-term uptrend Analysts are now also noting that heavy resistance just above Bitcoin’s current price level could be enough to fuel […]

2020-5-28 23:00


Ôîòî:

The Bitcoin Dominance Rate Lessens, Alt-Season Hopes Fade

While the Bitcoin dominance rate (BTCD) has moved above an important resistance level, the altcoin dominance (ALTD) was rejected by its previous support area and has been decreasing since. While several altcoins have previously initiated strong upward moves, the majority of them have been correcting, decreasing towards and even below their pre-breakout levels.

2020-5-19 19:15


Ôîòî:

With few blocks away from Halving, here’s how Bitcoin has been performing so far today

Today has been extremely volatile for Bitcoin breaking above $9,000 just to crash in the next few hours. We are seeing a 1% price move on 1-minute candlesticks all the time. However, even after such high volatility Bitcoin is still trading around $8,500, the midpoint between $9,200 and $8,000 basically. Looking at the 1-hour chart, […]

2020-5-12 22:00


Analyst: this statistical model says there’s a 75% chance Bitcoin rallies even higher next week

Yes, the price of Bitcoin may have stalled over the past three days, stagnating around $7,500, but the cryptocurrency is still decisively bullish from a macro perspective, analysts say. In fact, should BTC close the weekly candle above $7,100 in approximately seven hours as of this article’s writing, this will be the sixth — yes, […] The post Analyst: this statistical model says there’s a 75% chance Bitcoin rallies even higher next week appeared first on CryptoSlate.

2020-4-28 17:00


Ôîòî:

“Simple Geometry” Shows Bitcoin is Bound to Drop Despite Healthy Consolidation

Bitcoin has stabilized above $7,500 following yesterday’s upswing Analysts are now noting that a confluence of factors suggest BTC will decline slightly before finding enough support to catalyze continuance of this uptrend This comes after a period that some traders have described as “healthy consolidation” Bitcoin has been able to maintain all of its recent gains overnight, as the benchmark cryptocurrency has begun stabilizing above the $7,500 region even in spite of the strength of […]

2020-4-26 21:00


äàëüøå åùå 77 íîâîñòåé →

Ïàðòíåðû Currencies.ru

Àíàëîã Notcoin - Blum - Èãðàé è çàðàáàòûâàé Ìîíåòû



Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru