Bitcoin price records new ATH above $48k after a historic $8800 daily candle

Bitcoin price records new ATH above $48k after a historic $8800 daily candle
фото показано с : coinjournal.net

2021-2-9 15:20

Bitcoin’s (BTC) “Elon Musk” candle was a $8,822 spike that initially took BTC price to a new all-time high above $46,000

Bitcoin had a historic day on 8 February, skyrocketing over $8,800 in 24 hours after Tesla disclosed an investment of $1.5 billion in BTC.

On top of that, the electric car maker also announced that it would soon accept cryptocurrency payments for its cars. The news saw Bitcoin’s price go parabolic, registering its largest-ever green candle in its history.

As shown on the chart below, BTC/USD jumped $8,822, surging from lows of $38,050 to highs of $46,772.

BTC/USD daily chart. Source: TradingView

While Tesla now joins MicroStrategy as the largest institutional investors with a combined investment of over $4.5 billion, analysts suggest this is only the beginning.

According to BKCM founder Brian Kelly, other companies could soon join the two in adding Bitcoin to their balance sheets. In an interview with Mellissa Lee on CNBC’s Fast Money, he suggested that Tesla could just have opened the floodgates for other publicly-traded companies to join in on the Bitcoin bandwagon.

“This isn’t going to be the only one. This is just really the tip of the spear“, he said.

Bitcoin’s price upside justified

Demand for Bitcoin has been growing, primarily among big-money investors. This trend has seen analysts forecast continued growth for BTC price even as more companies look to come on board.

According to on-chain analytics platform Santiment, Bitcoin’s upside to current price levels is, therefore “justified,” given the rise in unique addresses. In a tweet posted after BTC/USD reached one of the multiple ATHs, the platform noted:

“Bitcoin has continued to skyrocket today, now reaching an #ATH of $47,500. This climb has been justified, according to the consistent rise we can see in the 200-day moving average for active addresses (unique addresses interacting on $BTC’s network).”

Bulls seem to want more, though, suggesting the rollercoaster could continue. As of writing, BTC/USD has a new record to beat at $48,216. Bulls could further eye the $50,000 mark.

BTC price outlook

Bitcoin’s move to a new all-time high price of $48,216 suggests another leg up could see bulls reach the now coveted $50k mark.

A look at the charts suggests a bullish outlook to support the move, with technical indicators on the daily and weekly time frames bullish. The RSI and MACD on these time frames feature bullish divergences.

BTC/USD 4 hour chart. Source: TradingView

The short term picture is also largely bullish as the price remains above an ascending support line. While it is trending overbought, it’s not overextended yet and bulls are likely to quickly buy any dips in the short term.

But as Santiment data shows, BTC sent to exchanges has hit a 19-day high to signal the likelihood of a sell-off.  That has shown with prices dipping below $48k in the last hour. If selling pressure pushes BTC/USD below $46,000, the previous ATH at $42,000 and the 20-day EMA ($41,948) could act as a robust support zone.

BTC exchange inflow has increased significantly. Source: Santiment

The post Bitcoin price records new ATH above $48k after a historic $8800 daily candle appeared first on Coin Journal.

origin »

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 467.1 (+0.48%)
Объем 24H $0
Изменеия 24h: 0.85 %, 7d: 17.53 %
Cегодня L: $453.49 - H: $467.1
Капитализация $0 Rank 3676
Доступно / Всего 0 LINKETHPA

candle bitcoin price historic 8800 btc daily

Источник: coinjournal.net

candle bitcoin → Результатов: 126


Фото:

Elon Musk Adds “Bitcoin” to Twitter Bio as BTC Posts Monster-Sized Breakout

Elon Musk has long teased his interest in Bitcoin, but his advocacy for the cryptocurrency was solidified today when he added #Bitcoin to his Twitter bio This change coincided with a massive green candle seen by BTC that sent it rocketing up to highs of nearly $39,000 this morning It remains unclear as to whether or not Elon purchased Bitcoin, but it has been speculated that he is the sole reason for the massive pump […]

2021-1-30 21:00


Фото:

Bitcoin is About to Post the Highest Monthly Candle Close Ever as Bulls Roar

Bitcoin is currently caught within the throes of an intense uptrend, with bears being unable to slow its ascent The strength of this uptrend has been quite intense, and seems to indicate that significantly further upside could be imminent The lower and mid-$19,000 region does hold some intense resistance for the cryptocurrency, and another rejection here could strike a heavy blow to bulls That said, the macro strength seen by BTC indicates that a move […]

2020-12-1 02:00


Фото:

Here are the Crucial Levels Bitcoin Must Break to See an Explosive Move Higher

Bitcoin has seen a strong move higher throughout the past day, with bulls aiming at reversing the recent market-wide selloff as the cryptocurrency begins pushing higher. Where it trends next will likely depend largely on whether or not bulls can maintain the ongoing uptrend as the weekly candle close fast approaches. Where this candle closes […]

2020-11-29 21:15


Фото:

Indicator Shows Bitcoin is “Overbought” as Average Investor Profit Hits 115%

Bitcoin may be forming a mid-term top around its recent highs, with the multiple rejections posted at $13,800 not bearing too well for its short-term outlook The cryptocurrency remains caught within a potent uptrend, but this level is proving to be incredibly difficult for bulls to break If they continue failing to find any stability around this level despite the bullish monthly candle close, it could point to weakness amongst buyers One analytics firm is […]

2020-11-3 02:00


Sell Setup Combo On Bitcoin Coincides With Ominous Astrological Event

Bitcoin price has fallen more than $400 from yesterday’s peak. The drop happened abruptly as the daily candle closed and turned to October 13th’s trading session. The collapse also coincides with two sell setups triggering, and the start of an ominous astrological event that historically has created turmoil for both people in general, and also […]

2020-10-13 20:00


Bitcoin Likely to Reach $12,000 Following Robust Weekly Close, Claims Trader

Bitcoin’s price has been sliding lower throughout the past few hours due to its stalling momentum This decline is occurring directly following an incredibly bullish weekly candle close posted by the cryptocurrency Analysts believe that this close will provide it with some serious strength going forward, potentially putting a firm end to its recent downtrend It is important to note that there is a CME gap that exists around $11,100, which may act as a […]

2020-10-13 21:00


Фото:

Bitcoin’s Push to $11,000 Comes Following Intense Accumulation from Whales

Bitcoin is currently in the process of pushing towards $11,000, although it is facing some slight selling pressure at this level The cryptocurrency now appears to be positioned to rally higher in the near-term, as it was able to post an incredibly bullish weekly candle close yesterday Within one minute of this candle closing, BTC’s price rocketed by hundreds of dollars One interesting trend that appears to be backing this move is a pattern of […]

2020-9-29 02:00


Фото:

Here’s the Key Level Bitcoin Needs to Close Above to Kick Off an Uptrend

Bitcoin’s price action has been choppy over the past couple of weeks, with bulls and bears reaching an impasse as it consolidates between $10,200 and $11,200 These two levels have proven to be strong support and resistance, and which one is broken first could offer some significant insights into its near-term outlook As for where it may trend in the near-term, one trader is noting that it all depends on its upcoming weekly candle close […]

2020-9-27 02:00


Фото:

Ethereum Approaches Key Resistance; Break Above Could Spark Move to $650

Ethereum has seen a strong rebound from its recent lows today, with its ongoing upswing coming about in tandem with the immense technical strength seen by Bitcoin. The aggregated cryptocurrency market is trending higher today, which is partially being driven by Bitcoin’s strong weekly candle close and the ongoing upswing seen in the stock market. […]

2020-9-15 00:00


дальше еще 77 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

PI price outlook: what’s next post Q1 2025 mainnet launch?

Pi Network (PI) has traded sideways over the past seven days as bears ruled the crypto space. However, this consolidation might welcome a significant rebound amid the mainnet launch countdown. Pi Network braces for Q1 2025 mainnet launch Pi Network price remains on investors’ radar as the platform braces for the much-awaited mainnet release. Despite […]

Bitget fuels BGB price rally with 40% token burn plan

Bitget’s native token continues to dominate trends with remarkable developments and price actions amid broad market indecisiveness. BGB soared over 20% on Friday, extending its recent gains, which have left it up over 110% within the past seven days.