Bitcoin saw a notable rally today following a prolonged bout of sideways trading, which has so far led the cryptocurrency to rally up towards the $6,000 region. This movement has come about as the traditional markets trade sideways, leading analysts to note that BTC is quickly becoming decorrelated.
It now appears that the benchmark crypto is now attempting to flip a key resistance level into a support level, which could be a highly bullish sign that ultimately leads it to rally significantly higher in the days and weeks ahead.
One analyst is noting that this bullish resistance flip is coming about as multiple bull-favoring factors begin emerging, signaling that the crypto may have established a long-term bottom that will lead it to climb higher.
Bitcoin Rallies Towards $6,000 as it Decouples With Global Markets
At the time of writing, Bitcoin is trading up over 12% at its current price of $5,840, marking a significant climb from daily lows of $5,100 that were set yesterday when the cryptocurrency was caught within a firm bout of sideways trading.
Although the weakness in the traditional markets led many investors to anticipate BTC to see further downside, its rally today marks one of the first decorrelated upwards movements that it has seen over the past few weeks.
Currently, all of the major US benchmark indices are trading up slightly, with the Dow Jones and S&P 500 both climbing 2%.
If Bitcoin continues outperforming the traditional markets, the bullish safe haven narrative could be rekindled, potentially giving the crypto further room to rally.
Analyst: BTC Growing Increasingly Bullish as Buyers Attempt to Flip Key Level
Satoshi Flipper, a prominent cryptocurrency trader on Twitter, explained in a recent tweet that bulls are attempting to flip resistance into support at around $5,700. He also notes that there are multiple other bullish factors that are emerging, including it decoupling from the stock market.
“IMO we’re in the process of flipping this BTC key level. I told you we were decoupling, told you the bottom was in, told you that going long was the real money move yesterday, all in the face of daily resentment from imbeciles convinced we were heading to sub $3k levels,” he noted.
IMO we're in the process of flipping this $BTC key level
I told you we were decoupling, told you the bottom was in, told you that going long was the real money move yesterday, all in the face of daily resentment from imbeciles convinced we were heading to sub $3k levels. pic.twitter.com/PBGFj2iOiB
— Satoshi Flipper (@SatoshiFlipper) March 19, 2020
The days and weeks ahead should provide investors with insight into the long-term significant of today’s independent rally, as a sustained decoupling from the stock market could significantly bolster BTC.
Featured image from Shutterstock. origin »
Bitcoin saw some intense upwards momentum today that allowed it to rally into the $6,000 region, with this upswing coming about after an extended period of sideways trading around $5,000. This movement came independent of the U.
Ethereum and the entire crypto market has continued trading sideways today despite the decline seen in the U. S. stock market, with Bitcoin showing some signs of breaking its correlation with the traditional markets.
Bitcoin (BTC) has once again found itself caught within a bout of sideways trading over the past day, which has come close on the heels of the cryptocurrency’s recent breakout rally that propelled it above its resistance around $8,900.
Bitcoin’s price action over the past couple of weeks has made it incredibly unclear as to whether or not the uptrend it has seen throughout 2020 is more than just a fleeting attempt to rally. Now, BTC’s ongoing bout of sideways trading comes just a couple of months before what one analyst is describing as its “most significant event” – the halving.
Litecoin's past 24-hour change does not mirror its recent bullish rally. The silver counterpart to Bitcoin registered a slump of 9.08 percent and its price held support just above $70. According to CoThe post Litecoin may face sideways movement between $71.94 and $78.53 appeared first on AMBCrypto.
Bitcoin and the aggregated crypto markets are currently entering a bout of sideways trading that comes just days after the massive rally that sent BTC to highs of $9,500 occurred. The market structure that has developed as a result of the consistent gains seen by Bitcoin throughout 2020 highly favors bulls and has led many... The post appeared first on NewsBTC.
Bitcoin’s recent bout of sideways trading around the $8,600 region has resulted in a massive bear-favoring movement, with BTC now plummeting down towards the lower-$8,000 region. This movement has completely altered the sentiment amongst investors, with many analysts now claiming that the crypto will see significantly further losses as $9,200 begins to look increasingly like... The post appeared first on NewsBTC.
Bitcoin’s firm bout of sideways trading over the past few days has muddied the clarity that some analysts previously had about the strength of BTC’s recent uptrend, as some traders are now eyeing its recent highs of $9,200 as a mid-term top.
Following Bitcoin’s recent immense volatility, the cryptocurrency has found itself caught within an extended bout of sideways trading that has led BTC to hover around $8,100 for the past couple of days.
Bitcoin has continued trading sideways within the lower-$7,000, with this latest bout of consolidation coming about after a failed attempt by BTC’s bulls to spark a rally yesterday. Bull’s inability to sustain any significant upwards momentum points to underlying weakness amongst buyers and may signal that further losses are imminent.
Despite the lackluster price action seen by Bitcoin over the past several days, Ethereum (ETH) has been able to climb back above its previous resistance level at $130 and find some decent buying pressure at this price region, which has come about after an extended period of trading sideways just above its key support level... The post appeared first on NewsBTC.
Ether price needs to break above the long term descending trendline and stiff resistance at $150 in order to break the multi-week pattern of lower highs
The Dow, S&P 500, and Nasdaq tilted sideways on Friday. The stock market’s rally balked at reports that the US and China may not have agreed to roll back tariffs. Now, one columnist warns the markets are “one tweet away” from a trade war “hangover.
Bitcoin price might move in a sideways trend until the next halving. Then, it might finally explode to new all-time-highs, according to a Twitter user who applies the stock-to-flow ratio model. Bitcoin Price Pattern Points to New ATH After Halving Previously, we reported on bitcoin price forecasts that used the stock-to-flow (SF) ratio model, which was initially proposed by Twitter-based crypto and commodities analyst PlanB.
Ethereum, the second-largest cryptocurrency by market cap, has been struggling to see a significant uptick in its price ever since the death cross on 4 September. The altcoin’s price did register a good bullish price rally between 12 September and 19 September.
Bitcoin has continued trading sideways despite attempting to break up overnight, and its inability to garner any clear trend comes as multiple altcoins rally. It is important to note that BTC’s inability to break above $8,400 overnight may signal that this region is a growing level of resistance.
Bitcoin price has been pretty much trading sideways since it pushed past the psychological $10,000 barrier in June. Noted crypto bull and analyst Josh Rager called for a critical resistance level for BTC that month.
Bitcoin has been relatively quiet ever since it posted its 2019 high of $13,880 on June 26. From that point, the market has been on a steady pullback with a few short-lived rallies. Experienced traders would call the price action as “choppy,” where there are no big moves and the trend is mostly sideways.
Bitcoin Price Analysis (BTC/USD) Over the last 24hrs, BTC/USD pair has been trading on a sideways market. On an hourly chart, the horizontal channels that are acting as the pair’s price resistance level $10694.
Bitcoin has in the last couple of days climbed back above $10,500. This was followed by a rally above $11K during the weekend. But, strong resistance has prevented it from staying above $11K. On Sunday, Bitcoin breached the $11K position but the win was short-lived.
Cardano Price Analysis (ADA/USD) ADA/USD pair has taken a bullish rally in the last 24hrs. The pair’s price has surged up by 3. 3%, having moved from $0. 0645 to the current price rate of $0. 0667 over the previous 24hrs.
NEO Price Analysis (NEO/USD) During the last 24hrs, NEO/USD pair went down by 0.9%, having moved from $17.5100 to the current price rate of $17.3556. The bearish outlook was supported by the 21 day MA that was seen gravitating above the 7 day MA that signaled a bearish rally The markets sow a sideways price […]
The post NEO, Cardano and Monero Price Prediction And Analysis For July 12th: NEO, ADA, and XMR appeared first on NullTX.
Bitcoin’s surge over the $10,000 mark caused massive FOMO from retail, pushing the price as high as $13,500+ on some exchanges. This rally came after almost a year in the bear market during which the price of Bitcoin was either moving down, or sideways.
Within the last week, in particular, and over the last couple of months, bitcoin (BTC) has staged a rally from its USD $4,000 sideways range, which the price was locked into for months, from around November 2018 to April 2019.
Both cryptocurrencies are trading on a sideways trend. This shows that there is a lack of market momentum and confidence in the crypto. Both are undergoing a bearish outlook with all indicators supporting the downward price rally.
Bitcoin’s meteoric surge had everyone believe that it was the start of the bull rally; however, that rally seems to have exhausted the bulls as the price is stuck in a sideways movement. Short-Term Analysis The price of Bitcoin is stuck in a sideways movement without any massive dips or surges for over five days, […]
The post Bitcoin to face an imminent drop by $400; Bull momentum vanishes as weekly chart bleeds red appeared first on AMBCrypto.
Since Bitcoin dropped below the $8,000 mark, the digital asset has fallen far below to set a support position of around $7,500. The crypto leader has since bounced back above this to trade a little over $7,800.
BITCOIN (BTC-USD) In the last 24hrs Bitcoin has exhibited a bullish outlook which is as a result of a bullish regular divergence pattern that was signaled simultaneously. Despite a sideways trend that has been supported by the 7-day MA and the 21 day MA which are intertwining, an upward price rally is observed.
Ethereum [ETH], the second largest altcoin in the market, continued to post significant gains in the wake of Bitcoin’s rally. ETH’s 24-hour trading volume stood at $11. 87 billion and the market cap was $28.
Bitcoin has been on a parabolic bullish rally for quite a while, which was followed by sideways movement of the price. However, at press time, the pattern formed indicated an imminent correction.
EOS price rallied above the $6. 500 level before starting a downside correction. EOS is currently holding an important support and it could rally along with the ETH, XRP and BTC. Key Talking Points EOS price.
Price fluctuations in the cryptocurrency market have continued, with Bitcoin [BTC] leading the race in terms of being the biggest gainer. The world’s largest cryptocurrency breached the $6000 mark, while the rest of the market struggled to sustain a bull rally.
BTC/USD Sideways trend is observed in the last 24hrs. A bearish market rally was seen at the beginning of the day (A) when sellers overpowered buyers. But later on, due to the emergence of a reversal pattern, an uptrend followed where the price rose from $5668 to $5799 (A to B) then it pulled back […]
The post Bitcoin (BTC), Ethereum (ETH) and XRP Price Analysis and Forecast appeared first on ZyCrypto.
Google search interest for bitcoin jumped following its surge to $5,000. However, search interest and Twitter hashtags continue to slump month-after-month. Possible explanations for the lower interest include sideways price action, a hangover from the 2017 mania, or a greater nuance around other search terms.
By CCN: The bitcoin price could attempt a runup towards $6,800 in the near-term, according to one popular stock trading indicator. Bitcoin on the Verge of a Bump-And-Run Reversal? Dubbed a Bump-and-Run Reversal (BARR), the pattern includes three crucial phases before an asset undergoes a full-blown breakout session.
Supply zones: $0. 36, $0. 38, $0. 40 Demand zones: $0. 35, $0. 33, $0. 32 XRP/USD Long-term Trend: Bullish XRP/USD is bullish on the long-term outlook. The Crypto has been on the sideways movement before the scenario that took place on the April 2; the Bulls dramatically gathered momentum and shoot up the XRP price.
Cryptocurrency prime dealer SFOX released its monthly volatility report this week, and while it is not all plain sailing for the crypto market the indicator clearly affirms that this week’s massive Bitcoin price rally was built on a firm foundation.
Bitcoin Could Surge By 35% Hopium has seemingly started to return to the crypto market en-masse. Sure, Bitcoin (BTC) and other digital assets are trading sideways, but the sentiiment displayed by cryptocurrency investors is buoyant.
Following Sunday’s sudden rally and retracement, most leading crypto assets have produced sideways consolidation just below the support ranges established during the previous week. The major exceptions to the trend are XRP and ONT, both of which appear to have held above last week’s support zones.
Bitcoin Needs $6,000 For Extended Rally DonAlt, a notable crypto analyst and industry personality, recently took to Twitter to issue his thoughts on the current state of the Bitcoin (BTC) market. He noted that as.
Last week, we saw a violent move to the upside as bitcoin rallied 11% over the course of one day. Since peaking in the upper $3,600s, bitcoin has seen close to zero bullish follow-through, and the price has begun to drift downward over the course of the last week:Figure 1: BTC-USD, Hourly Candles, Downward DriftDownward-drifting markets like this can often be a sign that distribution is taking place.
The bitcoin price on Monday showed no significant movements after posting an impressive rally early Friday. That doesn’t mean the flagship cryptocurrency’s rally is over, however. As of the time of writing, the bitcoin-to-dollar exchange rate (BTC/USD) was trading at $3,598, up 0.
Following a few days of sideways trading crypto markets have bounced again today as $7 billion gets funneled back into digital currencies. Not all are benefiting from this rally though but the ones that are include Litecoin and Neo which are the only two adding double digit gains in the top forty at the time.
Deutsche Bank analyst Marion Laboure agrees that crypto assets face several challenges in the near-term. However, the likes of Bitcoin and Ethereum will eventually recover to their previous highs as both remain market favourites despite recent volatility, she added in a recent CNBC interview.
NodeOps, the decentralized infrastructure platform, has officially launched its Staking Hub — a feature designed to simplify participation in Proof-of-Stake (PoS) ecosystems and streamline reward generation for users.
Cables is redefining Web3 community building by rewarding real contributions over hype. Its Points Program incentivizes long-term participation to fuel sustainable ecosystem growth. Cables is launching a unified DEX combining liquid staking and perpetuals for real-world assets and FX trading.
Nestled in the Himalayas between India and China, the Kingdom of Bhutan is charting an unconventional economic course, harnessing its abundant hydropower resources to mine “green” cryptocurrencies.
Cardano (ADA) has shown major structural developments as it re-enters a multi-year trading range. The recent price action suggests acceptance back within this long-term structure, with indicators pointing toward a potential move to the lower support region. Cardano (ADA) has…
BONK is trading at a key high time frame support level while showing signs of a potential trend reversal. A double bottom formation is developing, and a breakout above dynamic resistance could confirm a shift in market structure, setting the…
Status (SNT) price jumpd 38% in the past 24 hours. Gains see the altcoin rank among best gainers today. SNT broke to near $0. 030 amid network growth, though potential for profit taking is high.
