Bitcoin has been able to maintain the bulk of the gains that came about during yesterday’s intense upswing
Buyers are still struggling to firmly surmount the key $10,000 region, however, as it appears that bears have established heavy resistance here
The cryptocurrency could still be on the cusp of entering a macro bull-cycle, and one analyst is noting that the key level that needs to be shattered exists just above BTC’s current price
Bitcoin has seen some noteworthy price action throughout the past several days and weeks. The crypto’s rally seems to have reached a boiling point yesterday, when it rapidly rose from the lower-$9,000 region to highs of over $10,000.
Buyers have since been able to maintain the cryptocurrency’s position within the upper-$9,000 region, although it does appear that $10,000 is becoming a heavy resistance level.
It is important to note that one analyst believes that Bitcoin is just a hair away from breaking above a key trendline that could ultimately cause it to see some massive gains.
He notes that a clean break above this level could be all that is needed for BTC to enter its next macro bull trend.
Bitcoin Hovers Beneath $10,000 as Bulls Defend Against a Rejection
In the past, Bitcoin’s massive single-day movements are often met with strong rejections that lead the crypto to surrender a bulk of its gains.
Yesterday was different through, as BTC is still trading just a hair below its daily highs as bull vie to push it even higher.
At the time of writing, Bitcoin is trading up over 5% at its current price of $9,860. This marks only a slight decline from daily highs of just slightly over $10,000 that were set yesterday evening.
One analyst explained in a recent tweet that the benchmark crypto is about to test its “R2 resistance” that was formed in the time following the crypto’s decline from its 2017 highs.
“BTC 1W log scale. Is this real life? Bitcoin price is approaching the important multi year resistance R2. Once we break it and consolidate above a new bull cycle will start!”
Image Courtesy of Silver Bullet
In the past, breaks above this level spark massive uptrends – as seen in the above chart.
How High May BTC Surge in the Days Ahead?
As reported by Bitcoinist yesterday, one analyst recently explained that Bitcoin must surmount the resistance that exists between $9,700 and $10,500, as an ability to do so could lead it straight up to $14,000.
“The last barrier between us and my 14k target is this 9.7k-10.5k region. If we break it now, 14k+ will likely come soon after. If we reject it, we will get one last dip before breaking it. Either way, 14k+ is coming imo,” he said.
Image Courtesy of Credible Crypto
Featured image from Unplash. origin »
Bitcoin (BTC) remains trapped in a tight range between $90,000 and $110,000, struggling to break past key resistance levels as investors wait for fresh inflation data. The upcoming US Consumer Price Index (CPI) release could determine whether Bitcoin finds renewed momentum or remains stuck in its current consolidation phase.
Bitcoin price rose to a key resistance level as investors embraced a risk-on sentiment after the dovish interest rate decision. Bullish catalysts for Bitcoin Bitcoin (BTC) jumped to the important point at $64,000 for the first time since Aug. 9.…
Bitcoin bulls showed up in response to rate hikes as the market receives a confidence boost.
Evaluating the risk of long liquidations as volatility makes a comeback.
Bitcoin [BTC] responded The post What Q4 holds for Bitcoin - Assessing key levels appeared first on AMBCrypto.
Global liquidity in stablecoins could push crypto prices higher.
Key indicators say Bitcoin is poised for break out.
September is often a bearish month for Bitcoin and other asset classes.
Bitcoin has recently shown signs of recovery, reclaiming the $61,000 level after a brief but sharp decline earlier this week. This bounce back in price has sparked renewed interest among the crypto community, with many closely watching for the next key moves in the market.
Bitcoin’s aSOPR was at 1.03 at press time.
As it approaches 1.08, the coin is at risk of a price decline.
Bitcoin’s [BTC] price might be due for a correction as the value of a key on-chaThe post Bitcoin at risk as key on-chain metric signals correction - What now? appeared first on AMBCrypto.
M2 Money Supply's positive trend suggests greater liquidity could boost Bitcoin
Despite this optimistic signal, other metrics point to bearish pressures on the cryptocurrency
After major cThe post Bitcoin's long-term projections - Why you should look out for this key indicator! appeared first on AMBCrypto.
BTC’s key on-chain metric hinted at price volatility.
However, technical indicators on a price chart refuted that claim.
Bitcoin’s [BTC] spent outputs for investors that have held their The post Bitcoin 'volatility to emerge soon:' Should you believe this key indicator? appeared first on AMBCrypto.
Bitcoin has started 2024 off strong, reaching a key milestone for the first time in nine months. Investors and bullish traders of Bitcoin got a pleasant New Year’s surprise when the crypto climbed to a price of over $45,000 on the morning of January 2nd – a key resistance level which the cryptocurrency hasn’t hit […]
In a recent video, prominent crypto analyst and trader Crypto Rover provided his perspective on why he expects another major price swing for Bitcoin in the near future. He also revealed the key support level he is watching closely that could make or break the next Bitcoin move.
Over the last 24 hours, Bitcoin (BTC), the largest cryptocurrency in the market by capitalization, has again failed to consolidate above the $27,000 level. This key resistance was lost at the beginning of the downtrend on May 8th and has not been breached.
Bitcoin extended losses and traded below $20,000 against the US Dollar. BTC could revisit the key $19,500 support zone, where the bears might be tested. Bitcoin is following a bearish path below the $20,500 pivot level.
Bitcoin broke the key $40,000 resistance zone against the US Dollar. BTC is up over 12% and might continue to rise above the $43,000 level. Bitcoin surged above a few key hurdles near the $40,000 resistance zone.
At the beginning of the month, Bitcoin dropped to a three-month low of $46,500 in a market-wide flash crash that wiped over 18% of its value in a matter of hours.
The post This key metric correlates with Bitcoin’s largest price drops appeared first on CryptoSlate.
Bitcoin is a volatile asset. We know that, but people who fear losing their investments always scream murder at the slightest fluctuation. While those exist, there are also those who keep calm and staThe post Bitcoin has never been better, yes, but here's why perspective is key appeared first on AMBCrypto.
Key Bitcoin Price Outlook The bitcoin price briefly surged above $61,000 on Tuesday. The climb surfaced as a part of an upside weekly session, as traders’ appetite for safe-havens surged ahead of key US inflation data.
Bitcoin's price has been below the $61,062-level since mid-March. In fact, the cryptocurrency's price has remained largely rangebound between $51,695 and $60,000 since then. In other words, it has beeThe post Bitcoin to hit $64,000? This metric could be the key appeared first on AMBCrypto.
2 weeks have passed since the ominous, yet timely Bitcoin price corrections towards the end of February. In fact, both market sentiments and on-chain metrics have responded with significant changes ovThe post Bitcoin: This three-fold bullish set-up will be key going forward appeared first on AMBCrypto.
Bitcoin has been showing some serious signs of strength throughout the past few days and weeks Bulls have been in full control of the cryptocurrency’s price action, but are starting to lose their edge over bears as the crypto drifts lower Where it trends in the mid-term will depend largely on whether or not buyers can defend against a break below $18,600 One trader is pointing to this as the first key support level it […]
Bitcoin is down more than 5% and it broke the key $9,300 support zone against the US Dollar. BTC traded as low as $9,089 and it is currently correcting higher towards hurdles. Bitcoin declined sharply after it was rejected one more time near the $10,000 level.
After a strong rally from $3,700 to $10,100 over the span of six weeks, the Bitcoin bull has proverbially been asleep over the past few weeks.
The post This financial analyst expects a “very bullish” Bitcoin price in June for 4 key reasons appeared first on CryptoSlate.
Bitcoin remains below key resistances, but this hasn’t stopped investors from becoming extremely bullish on the asset. Key on-chain data indicates that the propensity that Bitcoin investors have to hold their coins is almost at all-time highs.
Bitcoin started a strong decline after it broke the key $9,500 support against the US Dollar. BTC price is currently correcting higher from the $8,794 low, but upsides are likely to remain capped. Bitcoin is down more than 5% and it broke many key supports near $9,500 and $9,150. The price is now trading well...
Key metrics show that bulls may be betting heavily on Bitcoin as the coin reclaims ground from its late-February tumble in tandem with the global economy. Investors seem to be accumulating with real conviction.
Bitcoin price started a downside correction from well above the $9,550 area against the US Dollar. BTC broke the key $9,220 support and it is now trading in a short term bearish zone. Bitcoin declined recently below the $9,300 and $9,200 levels against the US Dollar.
The aftermath of Bitcoin’s recent rally up to highs of $7,500 – and subsequent rejection – has been grave for bulls, as BTC has been caught within a strong downtrend that is leading the cryptocurrency down to its key support region that exists around $7,000.
Bitcoin’s price has been able to stabilize after incurring a significant influx of selling pressure yesterday that sent it plummeting below its previous range lows at $9,000, and it appears that bulls have formed $8,800 as a level of support that could bolster BTC’s price in the near-term.
One of the panels at the recent 2019 MIT Bitcoin Expo was focused on the future adoption of Bitcoin and the Lightning Network. This panel featured Zap wallet creator Jack Mallers, Buidl Bootcamp Instructor Justin Moon, and Lightning Power Users Founder Pierre Rochard.
Since NewsBTC’s last updates on the QuadrigaCX situation, little knowledge has been garnered about the current whereabouts or legitimacy of the exchange’s supposed Bitcoin, Ethereum, Litecoin, and other digital asset holdings.
Yesterday, the price of Bitcoin dropped below the $6,500 mark as it fell below a key price point. According to this crypto expert, this is a sign that there is a looming drop round the corner for the crypto…
Despite only a small drop, the price of Bitcoin fell below a crucial price point which is known as a ‘horizontal support’ which could very well be a sign that a significant drop is going to happen.
Key Points Bitcoin price found support near $6,400 and bounced back against the US Dollar. Yesterday’s highlighted key bearish trend line is acting as a hurdle near $6,580-6,600 on the hourly chart of the BTC/USD pair (data feed from Kraken).
Key Points Bitcoin cash price declined further and tested the $500 support against the US Dollar. There is a crucial bearish trend line in place with resistance at $530 on the hourly chart of the BCH/USD pair (data feed from Kraken).
Bitcoin Price Key Highlights Bitcoin is now at the very end of its long-term triangle consolidation pattern, so a breakout could happen anytime soon. Price is currently testing the resistance around $6,600 and a long green candle closing above this could be enough to signal further gains.
It is no secret how dozens, if not hundreds of projects have simply taken Bitcoin’s initial source code and added their own flavor to it. That also means developers of those coins need to keep tabs on vulnerabilities and upgrades affecting Bitcoin.
One of the impacts of the rapid, global
advancement of digital asset markets has been seasons of volatility and
turbulence. This creates a challenging environment for even the most astute
investors in terms of managing cryptocurrency portfolios and investment
strategies.
Key Points Bitcoin price broke the $6,540 and $6,520 support levels to move into a bearish zone against the US Dollar. Yesterday’s highlighted important contracting triangle was breached with support at $6,520 on the hourly chart of the BTC/USD pair (data feed from Kraken).
TEMCO, Korean startup preparing supply chain based on bitcoin (RSK), said it has successfully secured institutional investment from “Korea Investment Partners” (KIP), the foremost leading venture capital of Korea.
Bitcoin Price Key Highlights Bitcoin price is back down to the bottom of its short-term ascending channel. This coincides with the support of a long-term triangle consolidation pattern, so there may be plenty of buy orders here.
Bitcoin mining is now a highly competitive industry that’s not just expensive but technology-intensive as well. Individuals interested in joining the growing mining industry must invest in a specialized computer system, steady internet, reliable energy supply, and a good amount of skill to manage the process.
Bitcoin (BTC) is under significant pressure after experiencing a substantial 14% retrace from $65,103 to $55,602. This downturn is occurring amidst a climate of fear and uncertainty impacting both the cryptocurrency and US stock markets.
Data shows the Bitcoin diamond hands have continued to sit tight recently as almost a third of the supply hasn’t been moved in five years. Bitcoin Has A Notable Part Of Its Supply Dormant Since Over Five Years In a new post on X, the market intelligence platform IntoTheBlock has discussed about how the most […]
Data shows the Bitcoin Open Interest on exchanges has been heading up while the Funding Rate has turned negative recently. Bitcoin Open Interest Trend Suggests Speculators Are Back As pointed out by CryptoQuant community manager Maartunn in a new post on X, things appear to be heating up on the derivatives side of the market.
On-chain data shows the Bitcoin mining difficulty has seen an increase in the latest adjustment, a consequence of the hashrate’s recovery. Bitcoin Mining Difficulty Has Seen A Positive 3% Adjustment Recently The “mining difficulty” refers to a feature built into the Bitcoin blockchain that controls how hard the miners would find it to mine on […]
Data shows that Bitcoin investors have again assumed a sentiment of greed after BTC’s surge of $64,000. Here’s what this could mean. Bitcoin Fear & Greed Index Is Now Pointing At ‘Greed’ The “Fear & Greed Index” is an indicator created by Alternative that tells us about the sentiment currently present among the investors of […]
An analyst has revealed the Bitcoin price zones that could act as major support and resistance centers for the cryptocurrency. A Large Number Of Investors Bought Bitcoin Inside These Zones In a new post on X, CryptoQuant author IT Tech has discussed the Bitcoin price levels that could act as support and resistance for BTC.