Expect a massive Bitcoin movement as the crypto floats between two crucial levels

Expect a massive Bitcoin movement as the crypto floats between two crucial levels
фото показано с : cryptoslate.com

2020-2-23 21:50

Bitcoin is now firmly caught within a consolidation phase, with the cryptocurrency hovering around the support it established at $9,600 in the time following its recent capitulatory drop from $10,200.

It now appears that bulls and bears are at an impasse, with the cryptocurrency’s ongoing bout of sideways trading coming as the crypto finds itself caught between two critical levels.

A resolution to this sideways trading is likely imminent, however, as one prominent analyst is noting that the crypto is on the cusp of making a massive movement.

Bitcoin’s stability may be short-lived: expect a massive movement 

At the time of writing, Bitcoin is trading down just under two percent at its current price of $9,630, which marks only a slight decline from daily highs of just over $9,700.

In the time following the massive drop seen this past Wednesday, the benchmark cryptocurrency has struggled to recapture its previous position within the five-figure price region, and it now appears that the resistance between $9,700 and $10,000 is quite strong.

The recent downtrend has also led Bitcoin to find itself caught within a descending channel, with a lower and upper boundary at $9,350 and $9,800 respectively.

Josh Rager, a prominent cryptocurrency analyst and trader, shared his thoughts on this channel in a recent tweet, noting that these two levels should be closely watched in the near-term.

“BTC: Key levels to watch for now – $9800 and $9350. Everything else in between is noise.”

Image Courtesy of Josh Rager

Which of these levels is broken first could offer investors significant insight into which sort of mid-term trend that cryptocurrency will find itself caught within.

BTC is about to make a big movement because of this technical formation

Another near-term factor that should be considered is the fact that Bitcoin is currently caught within a triangle formation that is close to resolving.

Satoshi Flipper – another well-respected crypto analyst – spoke about this triangle in a recent tweet, telling his followers that he anticipates a “strong move” in the near-term.

“This triangle (4 hr) is close to resolving. Expecting a strong move.”

Image Courtesy of Satoshi Flipper

The ultimate resolution of this triangle could be the sole factor that determines which of the aforementioned range boundaries are broken through first, which could set the tone for which direction BTC will trend throughout the coming months.

The post Expect a massive Bitcoin movement as the crypto floats between two crucial levels appeared first on CryptoSlate.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 98328.79 (+0.02%)
Объем 24H $42.668b
Изменеия 24h: -0.47 %, 7d: 8.74 %
Cегодня L: $97633.19 - H: $98572.23
Капитализация $1945.591b Rank 1
Цена в час новости $ 9853.88 (897.87%)

bitcoin established time around support hovering 200

Источник: cryptoslate.com

bitcoin established → Результатов: 126


Фото:

Bitcoin Price Analysis: Bitcoin Tests Boundary Support as Demand Weakens

Following last Friday’s drop, bitcoin has found itself coiled, once again, at the bottom of the range it established back in December. With the current market unable to close a new high, the market finds itself in a precarious position:Figure 1: BTC-USD, Daily Candles, Range Support TestThe blue support level shown above illustrates the boundary of the multi-week range bitcoin has been bound by.

2019-1-18 02:02


Фото:

US academics say their shardy blockchain will be 10X faster than Visa

US academics are working together to create a new and improved cryptocurrency in a bid to rival Bitcoin. According to Bloomberg, professors from seven US colleges (including MIT, University of California, Standford University, and Berkely) are looking to create a digital currency capable of processing thousands of transactions a second without sacrificing the basic principle of decentralization.

2019-1-17 17:24


Bitcoin and Crypto Markets Drop Slightly Following Recent Price Surge

Following yesterday’s market surge, the crypto markets have dropped slightly but Bitcoin is still trading well above its recently established support level at $3,550. Currently, most major cryptocurrencies are trading down 1% or more Analysts now expect the markets to trade within a relatively tight range for the near future, which could be proceeded by.

2019-1-16 00:00


Фото:

South Africa Prepares to Tackle Cryptocurrency Challenges with Working Group

The South African government established a group of specialists to investigate digital currency and blockchain technology to devise a regulatory framework for the emerging industry Finding the Appropriate Regulatory Framework Following many of the governments around the world, South Africa has recently gathered a working group to research digital currencies and crypto assets to establish suitable guidelines reported Business Live,.

2019-1-5 02:00


Фото:

Bitcoin Price Analysis: Range-Bound Market Coiled for Next Move

For the better part of a month and a half, bitcoin has been fairly range-bound and unable to establish new lows or new highs. There are some bullish and bearish setups on the horizon for bitcoin, so let’s check out both sides of the argument because currently the market is sitting in the middle of Indecisionville — the most immediate sign of which is this glaringly obvious head-and-shoulders bottom reversal pattern:Figure 1: BTC-USD, Daily Candles, Head-and-Shoulders BottomThis current pattern is nothing more than a setup at the moment, but it represents one potential outcome of this sustained consolidation.

2019-1-4 02:22


Фото:

The Daily: Mimblewimble Coins Prepare to Launch, New Remittance Platform Announced

With the New Year around the corner, startups as well as established players in the cryptocurrency industry have announced plans for new products and services. In The Daily today we cover the upcoming premieres of two Mimblewimble-based coins, the planned launch of a low-fee, crypto-based remittance service in Asia, and the intentions of two leading […] The post The Daily: Mimblewimble Coins Prepare to Launch, New Remittance Platform Announced appeared first on Bitcoin News.

2018-12-26 17:35


Фото:

Japanese Financial Regulator Classify Cryptocurrencies as “Crypto-Assets” to Ward off Consumer Misunderstanding

Japan’s financial regulator has established a classification for cryptocurrencies that are traded online like money, this according to a report from The Japan News on December 15, 2018.   Avoiding Confusion According to the article, the nation’s Financial Services Agency (FSA) has decided to position bitcoin and other cryptocurrencies under the category of “crypto-assets.

2018-12-18 03:00


SherCoin Blockchain Project Poised to Foster Mass Blockchain Adoption with its Utility Token

Revolutionary DLT platform, SherCoin has established a robust platform with highly functional utility token, all designed to aid mass blockchain adoption. Since the bullish rally of bitcoin and other digital assets brought blockchain technology into the consciousness of everyone in 2017, to date, the blockchain industry has achieved significant success.

2018-12-2 21:58


Фото:

Bitcoin Price Analysis: Wait and See Where Recent Signs of Strength Lead

This week realized a big gain as bitcoin enjoyed a 25% rally from its local bottom before topping out around $4,400. Support currently appears to be established in the mid-$3,000s as the market remains indecisive over its next move:Figure 1: BTC-USD, Daily Candles, Current Support LevelFigure 1 shows the relevance of the current support level as it represents a previous support level that was never properly retested during last year’s parabolic bull market.

2018-11-30 01:45


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Traders dump Cardano and IOTA as they move to Vantard

Cardano and IOTA, two of the best-known players in the crypto industry, have underperformed the market over time as they evolved into ghost chains. A ghost chain is a blockchain whose coin is popular, but one that lacks a supportive ecosystem.

Crypto fear and greed index dive as focus shifts to Vantard

The crypto fear and greed index continued falling, reaching its neutral zone of 56, as most coins retreated.   Bitcoin moved to $68,000, much lower than this month’s high of $73,500. Similarly, Ethereum token fell to $2,400, while the total market cap of all cryptocurrencies dropped to $2.

Why experts are backing cryptos like Vantard, MEW, and Popcat

Cryptocurrency prices are doing well this year, with most of them outperforming traditional assets like the S&P 500, Nasdaq 100, and the Dow Jones. These indices have all jumped by over 15%, while Bitcoin has risen by almost 60%, and is hovering near its all-time high.

Growing number of Solana and Cardano investors are investing heavily in this utility token under $0.08

A growing number of smart money crypto investors are shifting their focus from Solana (SOL) and Cardano (ADA) to an emerging utility token priced under $0.08. The Rexas Finance token offers a unique value proposition with strong use cases in decentralized finance (DeFi) and real-world asset tokenization, making it an attractive alternative to more volatile […] The post Growing number of Solana and Cardano investors are investing heavily in this utility token under $0.08 appeared first on CoinJournal.