Over the past few days, Bitcoin has found itself stalling in the low-$9,000s, seemingly trying to establish a level of support at around $9,200-$9,300. Right now, it seems to be working, with BTC rallying after the price heads into that range.
This consolidation, analysts suggest, is likely a precursor to even more gains in the coming weeks, which will force Bitcoin above $10,000 for the first time in months.
Key Bitcoin Buy Signal Flashes
On Sunday, prominent analyst Filb Filb — the trader who in October 2019 called Bitcoin’s surge to $10,000 and subsequent decline to the $6,000s — posted the below chart to his Telegram channel for crypto analysis.
He wrote that these charts paint a “pretty bullish outlook” because the “volume indicators are good,” not to mention the “moving averages are trending up.” He added that his monthly chart coupled with his proprietary indicator is printing a buy signal, “which in the past has meant a big upside move.”
He wrote in a previous analysis that he expects for the cryptocurrency to be trading well above $10,000 around the time of the halving:
“Overall, Bitcoin is exactly where [I] anticipated; slowly grinding up towards previous resistance… I’m very much of the opinion that Bitcoin will reach to at least $12,500 level before the halving.”
As to why $12,500 makes sense, he noted that that is the “top target” for a bullish inverse head and shoulders chart that is forming on a medium-term basis for Bitcoin.
Not Only Extremely Bullish Sign
While the aforementioned signal from Filb Filb’s indicator has yet to confirm, there is a confluence of other analyses that suggest Bitcoin is poised to see a strong rally into the coming months.
Fundstrat Global Advisors, a New York-based markets research firm, recently noted that Bitcoin’s latest surge higher has allowed it to cross above the 200-day moving average. Firm co-founder Tom Lee wrote that whenever the price of Bitcoin is about the 200-day moving average, the six-month forward win rate for the cryptocurrency “jumps to 80%,” “essentially [meaning BTC is] ‘re-entering’ a bull market.”
Bitcoin moved back above its 200-day moving average on 1/27… positive milestone and reinforcing 2020 shaping up to be great year for $BTC #bitcoin
– whenever BTC >200D, win-rate (6M forward) jumps to 80% and essentially "re-entering" bull market (>200D)#BTD #bestasset2020 pic.twitter.com/YbpQYHpLaj
— Thomas Lee (@fundstrat) January 29, 2020
On the fundamental side of things, cryptocurrency content creator The Moon just noted that Bitcoin’s hash rate “just hit” a new all-time high at over 123 exahashes per second.This, he claims, is a clear sign that BTC is “screaming for a huge bull run leading into the halving,” referencing the sentiment that Bitcoin will surge into and after the block reward reduction event, which will result in a 50% decrease in the asset’s inflation.
Related Reading: Crypto Exec Explains Why Altcoins May Take Years to Get Off the Ground
Featured Image from Shutterstock The post appeared first on NewsBTC. origin »
The bitcoin price rejected $9,500, a multi-year resistance it has been teasing with throughout the past two weeks. The last time it rejected at this level in a similar pattern, it dropped to the $6,000s.
Ever since Bitcoin investors got a taste of parabolic price action in early-2019, during which BTC surged from the low-$3,000s to $14,000 in a few weeks’ time, they have been craving more. Related Reading: Andrew Yang Just Mentioned Crypto, Again.
Since Bitcoin investors got a taste of parabolic price action in early-2019, during which BTC surged from the low-$3,000s to $14,000 in a few weeks’ time, they have been craving more. According to a Google Trends analysis, another parabolic rally is about to form again in the cryptocurrency market again.
The bitcoin price just strongly rejected the $8,600 level, breaking down from a tight range for the first time in four days. BTC dropped below $8,400 on major exchanges like BitMEX, leaving the dominant cryptocurrency vulnerable to a deeper pullback.
The Bitcoin price tends to move in a trend that deals maximum pain for both bulls and bears in the market — and this time is seemingly no different. Based on previous fractals, one popular cryptocurrency technical analyst said that the Bitcoin price is more likely to pull back to the low $5,000s to establish […]
The post Analyst: Bitcoin re-accumulation phase has begun, but it must drop to this key price first appeared first on CryptoSlate.
Over the past month, Bitcoin (BTC) has absolutely exploded higher. In fact, the cryptocurrency is up around 40% since the low of $6,400 put in during December of last year. While many analysts have said that this jaw-dropping rally constitutes a macro reversal that will thrust BTC back into a decisively bullish phase, an analysis... The post appeared first on NewsBTC.
Over the past two hours, Bitcoin (BTC) has started to break out of a consolidation pattern that has trapped the price of the cryptocurrency in the high-$8,000s for some two days. In fact, just minutes ago as of the time of writing this article, the leading crypto asset tapped $9,120, surging higher as the weekly... The post appeared first on NewsBTC.
After Bitcoin (BTC) rocketed from $3,000 to $14,000 in the span of six months, analysts have been sure that the cryptocurrency would never revisit the $3,000s again. Indeed, the logarithmic price curve that has contained the asset’s price action for the past decade predicts BTC will never again hit $3,000.
Earlier this year, in late-September, prominent Bitcoin analyst Filb Filb posted this chart below, showing that he expects for BTC to jump by dozens of percent to near $10,000, then collapse by 35% to the low-$6,000s to interact with the “miners bottom range.
Bitcoin has seen quick the surge over the past week. Per data from cryptocurrency markets site Coin360, the leading digital asset has gained 7. 1% in the past seven days, rallying from the low-$8,000s to the current price of $8,750.
Last week, Bitcoin price broke out of its 45-day long consolidation range in the low $7,000s and rocketed to over $8,000 where the first-ever cryptocurrency is holding tight above resistance turned support.
Over the holiday season, Bitcoin (BTC) has stalled in the low-$7,000s, finding itself stuck between heavy macro support in the mid-$6,000s and rather pertinent resistance in the high-$7,000s, which the cryptocurrency has been rejected by multiple times.
Over the past few weeks, Bitcoin (BTC) has been consolidating in the range around $7,000, seemingly stuck in between a rock and a hard place. Indeed, the cryptocurrency has many times bounced in the mid-$6,000s, where there is macro support, and has been rejected multiple times in the resistance band around the high-$7,000s.
Bitcoin (BTC) hasn’t done too hot over the past few months, plunging some 50% since the June top of $14,000. The selling has stopped over the past few weeks, with the price of the leading cryptocurrency flatlining in the low-$7,000s, leading some to suggest that another leg lower is possible.
Bitcoin (BTC) hasn’t done too hot over the past few months, plunging some 50% since the June top of $14,000. The selling has stopped over the past few weeks, with the price of the leading cryptocurrency flatlining in the low-$7,000s.
It is not a secret that altcoins, such as XRP, haven’t done too well in 2019. While Bitcoin (BTC) is up over 90%, starting the year in the $3,000s and now trading at $7,200, a number of leading cryptocurrencies have actually posted losses on the year.
Since plunging to $6,400 around December 18th and rocketing back to $7,000 the day later, Bitcoin has stalled, flatlining in the low-$7,000s as the market remains largely directionless. Related Reading: Why the Bitcoin’s Bearish MACD Cross May Not Plunge Price But on Saturday, BTC started to show that it had room to run, with the... The post appeared first on NewsBTC.
Bitcoin (BTC) hasn’t done too hot over the past few months, plunging some 50% since the June top of $14,000. The selling has stopped over the past few weeks, with the price of the leading cryptocurrency flatlining in the low-$7,000s.
Bitcoin (BTC) has had quite a quiet past few days, flatlining in the low-$7,000s in the wake of Christmas. Analysts say that despite this lull, the cryptocurrency is starting to show signs of wanting to break higher.
Earlier this month, Bitcoin (BTC) plunged as low as $6,400, marking a new multi-month low for the leading cryptocurrency. But as fast as the crypto dropped, it reversed, with BTC surging to $7,700 just last weekend on the back of bulls looking to buy in the $6,000s.
Despite seeing a consistent increase in developer activity and progress with its roadmap, Cardano (ADA) slipped to levels unseen since the Bitcoin price dropped to the $3,000s in December 2018. During the second week of December last year, the price of ADA was hovering at around $0.
Statistics show that the Bitcoin price may be on the verge of seeing a red week. No, by red I don’t mean Christmas, I mean a week in which the cryptocurrency falls, potentially to enter back in the range of the $6,000s.
In June, when Bitcoin was soaring above $10,000, nearly every trader and their mother expected the cryptocurrency to continue rocketing higher. Though, one analyst incessantly called for rationality to return to the crypto markets, claiming that this surge above $10,000 was a clear overextension of BTC’s long-term growth curve.
According to a recent analysis done by Byzantine General, the SuperTrend indicator for the one-week Bitcoin chart has flipped red, meaning bearish, after a multi-month bullish period seen earlier this year.
Over the past week, Bitcoin has found itself flatlining, establishing a tight range in the low-$7,000s as volume tapers off. This consolidation has forced the Bollinger Bands, a moving average-based technical analysis tool often used by traders looking for more information about trading ranges and volatility, for Bitcoin to reach extremely tight levels, implying that.
Over the past week, Bitcoin has found itself flatlining, establishing a tight range in the low-$7,000s as volume tapers off. This consolidation has forced the Bollinger Bands, a technical analysis tool often used by traders looking for more information about trading ranges and volatility, for Bitcoin to reach “squeeze” levels, implying that volatility is on […]
The post Analysts expect Bitcoin to falter as price fails to break past low-$7,000s appeared first on CryptoSlate.
After hitting $6,600, Bitcoin (BTC) saw a strong price bounce, returning to $7,800 just yesterday. This marked an increase of nearly 20% from the bottom, making some convinced that the bottom is in.
Bitcoin price could retrace back to the $6,000 region but is unlikely to drop to the $5,000s, according to a prominent cryptocurrency trader.
The post Analyst Who Called Bitcoin Price Plunge Cools Sub-$5000 Fears appeared first on CCN.com
The recent plunge in the crypto markets has pushed Bitcoin (BTC) to a “make or break” point — the 21-month simple moving average, which sits in the high-$6,000s at current. As analyst Byzantine General recently pointed out in a recent tweet, this level has been the point at which BTC has bounced in two previous.
After plunging to $6,800 on Friday, Bitcoin (BTC) has been subject to some reprieve; the cryptocurrency now trades at $7,300, up some 8-odd percent from the bottom. While this bounce is somewhat positive for bulls, especially considering the historical importance of the high-$6,000s, a key indicator suggests that there may be more pain to come.
Over the past day or two, Bitcoin (BTC) has started to settle in a price range, the low-$8,000s. As it stands, the crypto market seems somewhat directionless, stuck between resistances and supports above and below its current price.
While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.
On Friday, the Bitcoin (BTC) market took a turn for the worst. The leading cryptocurrency, as reported by this outlet, tanked from $9,250 to $8,700 in a number of hours, with bulls running out of steam.
As Bitcoin (BTC) has entered a launchpad-like state, finding itself in a lull as sentiment is beginning to trend positive again, institutions have started to accrue long positions of the cryptocurrency.
While there are some bearish technical signals for Bitcoin, the cryptocurrency has managed to hold the $9,000s against the odds. As of the time of writing this, BTC is changing hands for $9,250, up a mere 0.
Another week, another round of Crypto Tidbits. Bitcoin (BTC) saw a relatively mild week in terms of price action; the cryptocurrency market effectively ended the week where it started, and no decisive momentum was built to the upside or downside.
Bitcoin has spent another day in consolidation following a roller-coaster ride last month. This year has had similar ups and downs in terms of BTC price but fundamentally the network is going from strength to strength.
Ouch. Over the past few hours, Bitcoin has finally seen some volatility play out after a multi-week lull, plunging below $7,500 after holding in the low-$8,000s for days on end. Per previous reports from NewsBTC, this move largely caught traders off guard, with there being a massive long liquidation event of over $200 million on.
While mere days ago analysts were calling for Bitcoin (BTC) to correct higher to $9,000 and potentially even higher, this bullish scenario has not panned out. On the contrary, in fact. Since the weekend, the leading cryptocurrency has returned to $8,000 and has even started to flirt with the $7,000s once again.
Over the past few days, Bitcoin (BTC) has started to settle in a price range, the low-$8,000s. For now, the cryptocurrency seems directionless, stuck between resistances and supports above and below its current price.
Bitcoin bears have continued to flex their muscles into Monday morning. After closing the week at a massive loss, with BTC posting its worst performance since November 2018’s capitulation event, bulls failed to make their presence known.
The big move that everyone was waiting on finally came a few hours ago. Bitcoin (BTC) price was smashed to a three month low of $8,000 while crypto markets shed over $30 billion in the resultant altcoin exodus.
By CCN Markets: The bitcoin price suffered a massive setback on August 28th, crashing through support at $10,000 before testing the low $9,000s. We warned that this dump would eventually happen, and unfortunately for bulls, technical analysis reveals that the pain isn’t over yet – not even close.
The price of the top cryptocurrency Bitcoin has been sideways for a while since it dropped from the yearly high of $13,300. It has slumped to mid $9,000s a number of times which some considered an opportunity to buy again.
There is a bit of chaos in the cryptocurrency space following the dip Bitcoin has experienced from well over $11,000 to the mid $10,000s. Whatever may be the reason for the crash, Morgan Creek partner and Co-Founder Anthony Pompliano says even a crash of 50% will still leave Bitcoin ahead of the S&P 500.
A big move was expected for bitcoin price and it came yesterday with a swift plunge back into four figures. The move resulted in a $15 billion dump from crypto market capitalization as altcoins blindly bled out in the shadow of their big brother.
Another day, another milestone passed. Bitcoin’s inexorable rise from December 2018’s bottom to break $12000 has been astonishing in its speed. So what could lie ahead? Crypto-Spring Is Here, Courtesy of Bitcoin Barely six months ago we were engulfed in our darkest hour.
While it was only a little more than six months ago that Bitcoin price was trading in the low $3,000s, where it set its bear market bottom and multi-year low, already the crypto asset is trading at over three times the value it was such a short time ago.
Bitcoin Bulls Return as BTC Taps $8,000 Bulls are looking to take control of Bitcoin (BTC) after a week of boring price action. In the past 48 hours, BTC has tried to convincingly break past...
The post Bitcoin (BTC) Poised to Break Higher, High-$8,000s Back in Play appeared first on Ethereum World News.
Analyzing Bitcoin is a tricky game; there are many variables to take into account when trading cryptocurrencies, and the inherent volatility of this market makes forecasts hard. Though, there are a few analysts that have seemingly made good progress in the art of Bitcoin analysis.
After falling as low as $8,200 late last week, Bitcoin (BTC) has recently started to mount an extremely strong recovery, bouncing after the 11% correction seen after a 43% rally. Just minutes ago as of the time of writing this article, the leading cryptocurrency hit $8,950, falling just shy of the key $9,000 level as... The post appeared first on NewsBTC.
Few analysts have called Bitcoin (BTC) price action over the past few months and years as well as Filb Filb. The pseudonymous trader in 2018 called the cryptocurrency’s bottoming price around $3,000 and the subsequent surge.
Last week, Bitcoin (BTC) suddenly shot higher, surging from $7,300 to $10,500 in under 24 hours’ time in a monumental move. One minute, the cryptocurrency was down in the doldrums; the next, it was trading sky-high in a move that the optimists said would lead to a rally to $20,000 and beyond.
Bitcoin should experience a “terminal shakeout” similar to 2015 before a new bull market explodes higher, a veteran analyst has concluded. Shakeout Should Precede Parabolic Advance In a series of tweets on October 9, Cole Garner said that the protracted price slump Bitcoin saw in 2015 had not yet occurred in the current cycle.
Coinspeaker Bitcoin Price Loses $500 in Minutes to Plunge Under $10KMany commentators predicted a downside Bitcoin move and they seem to have been correct all along as BTC price lost 5% in an hour.