Bitcoin’s decline to lows of $5,800 overnight was met with significant buying pressure that subsequently allowed the cryptocurrency to climb higher, with BTC bulls now attempting to reclaim the crypto’s previous position within the upper-$6,000 region.
This early morning rebound came about after a short bout of intense selling pressure, and buyer’s ability to absorb this and defend against further downside is certainly a bullish sign.
Despite this, one trader is now noting that he believes Bitcoin is firmly in bear’s control as long as it trades below one key level that has yet to be surmounted.
Bitcoin Garners Tempered Momentum as Analysts Watch Key Technical Formations
At the time of writing, Bitcoin is trading up just under 4% at its current price of $6,350, which marks a notable climb from daily lows of $5,800 that were set at the bottom of the overnight selloff.
Bulls did post an ardent defense of this level, however, which is what catalyzed the momentum that has led the crypto up to its current price levels.
In the near-term, whether or not Bitcoin is able to climb higher or not may depend on if it is able to close its monthly candle above $6,425, a level that one analyst thinks is of the utmost importance.
“BTC monthly close above 6425 would be solid bullish SFP to make April-May brighter. For now, it needs to unfold this symmetrical triangle, contracting consolidation. Safest non-scalp swing trades on breakout (or breakdown) retest.”
Image Courtesy of CryptoBirb
BTC Faces Heightened Bearishness Below Mid-$6,000 Region
Even if BTC is able to close its monthly candle above $6,425, it still faces some intense resistance between roughly $6,450 and $6,550.
George, a popular cryptocurrency trader on Twitter, spoke about the resistance that exists around this level in a recent tweet, explaining to his nearly 20k followers that he believes Bitcoin is in firm bear territory until it is able to firmly break above this region.
“BTC: As long as we stay below green and close the daily below Sun[day] high we should be good for continued downside imo,” he noted while referencing the below chart.
$BTC
As long as we stay below green and close the daily below Sun high we should be good for continued downside imo… pic.twitter.com/DFIemLyQk7
— George (@George1Trader) March 30, 2020
Because there is just over 24-hours left until Bitcoin’s monthly close, how it trends in this relatively short time frame will be critical for determining which direction the aggregated market will head throughout April.
Featured image from Shutterstock. origin »
So far, Bitcoin has seen a mixture of bulls and bears just in the past day alone. Although bulls appear to be taking the lead given its current market performance, will this be sustainable? Before the US Federal Reserve announcement of the rate cuts, Bitcoin experienced a slight dip in its trading price.
After a 10-day dip, Bitcoin has surged past $70,000. The renewed vigor in BTC's price action signals a resurgence of momentum as the market continues to climb. Can the bulls sustain this momentum and propel Bitcoin into a new phase of price discovery?
In a shocking twist, Bitcoin (BTC), the undisputed king of cryptocurrencies, has plunged to levels not seen since the early days of 2023. The battle-hardened Bitcoin bulls have suffered another crushing defeat, leaving investors on edge, anxiously pondering whether the dreaded sub $20,000 abyss will haunt them again.
Bitcoin’s breakout to $29k comes after bulls established $26,190 as a key support zone. If bulls break to YTD highs, the next direct resistance per the Fibonacci model could be at the -50. 0% retracement of $34,280.
Disclaimer: The findings of the following analysis are the sole opinions of the writer and should not be considered investment advice.
The downtrend from November was still in play for Bitcoin [BTThe post As Bitcoin reclaims $20k, can BTC traders drive bulls to aim for the sky appeared first on AMBCrypto.
Bitcoin retested the key $28,500 support zone against the US Dollar. BTC is rising and the bulls might aim a clear move above the $30,600 resistance. Bitcoin is trading in a major range below the $30,600 resistance zone.
Bitcoin started a sharp recovery wave from $39,700 against the US Dollar. BTC is rising and the next major stop for the bulls might be $43,500. Bitcoin spiked towards the $39,600 level, where the bulls took a stand.
Battlestations are out with bulls in retreat after their first attempt to storm the bear barricades at $70,000, the biggest resistance line yet since bitcoin took $7,000 in 2017. Back...
Bitcoin bulls are back in charge, so to speak. The headline alone makes quite a statement, and there are no doubt several readers questioning how one might draw such conclusion after only a small move and lack of new highs.
The Bitcoin bull rerun is loud and unmatched. Bitcoin bulls seem to be on a journey to make up for all the losses sustained since May, by correcting upwards fundamentally and technically. In a previous report, we outlined the possibility of Bitcoin hitting $157,000 in the long term, according to the Bitcoin Hash Ribbon indicator. […]
Bitcoin, the world's largest cryptocurrency has been bleeding for quite a while now as bears overtook the bull. As things stand, it was trading just above the $33k mark with a correction of about 2% iThe post Bitcoin: What does this mean for the 'trapped bulls'? appeared first on AMBCrypto.
While Bitcoin has managed to correct weekly losses, leaving only around 1% in the red zone, the road ahead is still blurry for the $700 billion market. At a press time price of $37,746, Bitcoin bulls reflect a shaky market, as bulls’ ability to break $40,000 is prolonged.
Bitcoin has just hit a new record high of $64,863 for the first time, opening doors for the week to get even more bullish for the benchmark cryptocurrency. Bitcoin Attaining New Highs Bitcoin’s value rose 8% yesterday after bulls succeeded in breaking resistance at $61,000.
Bitcoin is currently in the process of consolidating as bulls and bears battle for control of its near-term outlook Where the cryptocurrency trends in the mid-term will likely depend on whether or not bulls can once again push it above $19,000, as this has been a pivotal level for BTC A sustained bout of trading below here could open the gates for serious losses, but many factors are all working heavily in the cryptocurrency’s favor. […]
Bitcoin is in limbo as of this article’s writing, stuck above the $10,000 psychological support and below the $10,500 resistance. Both bulls and bears have valid arguments at current. The bulls think that BTC continuously holding $10,000 lends to a high chance of appreciating.
Bitcoin is approaching the end of the week on a relatively weaker note. As BeInCrypto reported yesterday, there was a decent chance for the bulls to kick start a new rally by pushing the price above $9,460 without any further delay.
Bitcoin as an asset class has had a good history, according to some Bitcoin bulls on a recent Twitter post. However, others suggest that the post skewed figures unfairly in Bitcoin’s favor.
The short-term for Bitcoin is looking quite bearish as bulls have lost the $9,000 level and the daily ascending channel. Bitcoin is currently trading at $8,764 as bulls keep losing strength. Not everything is lost for them but it’s clear the short-term is shifting in favor of the bears. The daily chart can still be […]
Bitcoin bulls have been fighting to break $10,000 for months now. Bitcoin has been rejected several times from this doomed level, however, the last time that happened, just 2 weeks ago, bears had a lot of continuation but the bulls managed to buy the dip and push Bitcoin back above $9,000 and tried to break […]
Following Bitcoin’s recent rejection at $7,300, the benchmark cryptocurrency has once again established another bout of sideways trading within the upper-$6,000 region, with bulls and bears reaching an impasse as its near-term trend grows increasingly unclear.
Bitcoin bulls were cheerful this Tuesday as a top analyst’s call to purchase gold amidst the Coronavirus-induced market turmoil created similar opportunities for the cryptocurrency. Jeffrey Currie, a commodity researcher at Goldman Sachs, said in a note that the yellow metal has reached an “inflection point” after the Federal Reserve announced that it would buy...
Following a bout of unprecedented volatility seen earlier this week, Bitcoin has found itself caught in limbo, with its bulls and bears reaching an impasse as the crypto hovers within the lower-$5,000 region.
It’s been a fairly exciting week for Bitcoin bulls, with rally upon rally feeding into the bullish sentiment. Although the weekly is not closed as of typing, Bitcoin saw its value jump 14% this week to $9169,5(Bitfinex).
Bitcoin (BTC) bulls don’t seem to be letting up the pressure. Over the past few hours, the price of the leading cryptocurrency has rocketed higher again, just tapping $8,800 minutes ago as of the time of writing this article.
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.
Bitcoin’s position within the lower-$7,000 region has been ardently defended by the cryptocurrency’s bulls over the past several hours and days, with the crypto’s overnight drop into the upper-$6,000 region being met with significant buying pressure that allowed BTC to post a sharp bounce to highs of $7,400.
Bitcoin bulls are constantly exhausting the US dollar reserve pool for opening leveraged Long positions, revealed Jesse Powell of Kraken – a US-based cryptocurrency exchange. The chief executive officer told Youtuber Ivan on Tech in an interview that the number of traders who believe that the bitcoin price would go higher is more than those.
On Wednesday morning, Bitcoin bears finally managed to get the upper hand over bulls. For those who missed the memo, the leading cryptocurrency’s price fell by 8% or so within a few hours’ time, falling from above $8,100 to as low as $7,400 in a dramatic blow to bulls.
After plummeting below $8,000 overnight, Bitcoin’s bulls were able to propel the crypto slightly higher, showing signs that bulls are not ready to let the cryptocurrency drop lower in the near-term, which could mean that bulls will garner greater strength in the near-term that could help propel BTC higher.
After facing a sudden influx of selling pressure yesterday, Bitcoin’s bulls have been able to defend its position within the mid-$10,000 region and are now pushing BTC up towards its next key resistance level around $10,400.
After breaking below $10,000 yesterday, Bitcoin has faced a significant influx of selling pressure that has sent its price reeling down towards the lower-$9,000 region. This sell-off has drastically altered the overall market sentiment and came shortly after BTC made a failed attempt to surge towards $11,000.
There are numerous ways to make cryptocurrency in the cryptocurrency sector. These include trading, purchasing and holding currencies, and generating interest through cryptocurrency mining or other staking techniques.
Earlier this week, BCH attempted to resume bearish after losing grip above $350, although it later found support and bounced back strong. This led to a significant breakout, and its landscape is now changing.
В эпоху, когда скорость и точность имеют решающее значение, традиционные методы отслеживания графиков и ожидания идеального момента для входа уходят в прошлое. Рынки реагируют за доли секунды, а ИИ-трейдинг-боты уже успевают анализировать огромные объёмы данных, принимать решения и исполнять сделки за миллисекунды.
DePIN io. net has introduced Co-Staking, a new feature that allows network users to share block rewards by staking their $IO tokens. The Co-Staking Marketplace connects token holders with suppliers, enabling broader participation in validation without the need to operate hardware.
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.
