Bitcoin has continued ranging sideways within the upper-$9,000 region following a series of rejections at $10,000
The ongoing bout of sideways trading may mark buyers’ attempt to generate increased trading activity from bulls
Analysts are noting that Bitcoin is nearing the apex of a large ascending triangle
The resolution of this pattern could be the impetus for BTC to print a $1,000 candle
Bitcoin has struggled to garner much momentum in recent times, with its price action being largely suppressed by the immense selling pressure found within the lower-$10,000 region.
The five-figure price region has been a resistance level for the cryptocurrency ever since its decline from 2017 highs of nearly $20,000.
Each visit to this region has been short-lived, and is typically followed by capitulatory declines.
Analysts are now noting that Bitcoin’s consolidation may not last long, as it could be on the cusp of printing a $1,000 candle as it nears the apex of a large technical formation.
Bitcoin Consolidates as Analysts Watch Key Technical Formation
At the time of writing, Bitcoin is trading up just under 1% at its current price of $9,770. This marks a notable climb from recent lows of under $9,400 that were set after BTC’s latest rejection at $10,000.
The price action seen throughout the past couple of weeks can largely be characterized as consolidation, as it has struggled to garner any sustainable momentum in either direction.
It now appears that this lackluster trader period has led to the formation of a massive ascending triangle that could lead Bitcoin to see immense volatility in the days and weeks ahead.
One options trader recently spoke about this typically bullish pattern, explaining that he believes a confirmed breakout could swiftly lead the benchmark crypto to over $10,400.
“BTC: Watching for a breakout. LTF showing an ascending triangle within an ascending triangle. First target is 10433~ if so. Will watch swing level at 10085.5 for a quick S/R flip, wouldn’t want to see a strong rejection there, but rather a short one before it flips support,” he explained.
Image Courtesy of Chase_NL
BTC Could Soon Print a $1,000 Candle if It Breaks This One Key Level
Assuming that this ascending triangle formation plays out and leads Bitcoin higher, it is possible that the cryptocurrency could soon post a massive green candle.
Another trader mused this possibility in a tweet, explaining that the key resistance he is currently watching sits at roughly $9,850.
He notes that a decisive break and hold above this level could lead it to see some massive near-term upside.
“Green is all that’s holding us from printing a $1000 green candle imo,” he explained while referencing the chart seen below.
Image Courtesy of George
How it responds to the triangle pattern it is caught within could be the sole factor that determines whether it is able to post a massive continuance of its mid-term uptrend.
Featured image from Shutterstock. origin »
On November 3rd, U. S. Federal Reserve Chairman Jerome Powell finally hinted at the beginning of tapering resulting in Bitcoin and other cryptocurrencies taking a loss. The market has been moving sideways since then, cooling off after a rally that took BTC from $40,000 into price discovery above $65,000.
On November 3rd, U. S. Federal Reserve Chairman Jerome Powell finally hinted at the beginning of tapering resulting in Bitcoin and other cryptocurrencies taking a loss. The market has been moving sideways since then, cooling off after a rally that took BTC from $40,000 into price discovery above $65,000.
With the new month, market bulls seem to be making a comeback. Early this week, Bitcoin recorded a 15% move, seeing it climb and establish $35K as support. However, after a long time moving sideways, there was a sell wall at $38K that has since seen the digital asset stall just below this level. Despite this, […]
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Bitcoin has once again found itself stuck within a boring period of sideways trading as it finds stability around $7,500. This sideways trading has come about concurrently with BTC hovering just above its 89-day EMA level, which may provide valuable insight into which direction it will trend in the mid-term.
Bitcoin (BTC) has been firmly caught within the throes of immense volatility over the past several days and weeks, with its recent bout of sideways trading ultimately resulting in a massive movement that caused a maximum pain scenario for traders.
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.
Bitcoin buyers are fighting to remain inside a sideways channel as bears attempt to take back control of the asset. Have we seen the top of the bull market already or will bulls deliver another knockout performance soon? Let’s take a look at the bitcoin price analysis.
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.
Bitcoin and the entire crypto markets have faced increased selling pressure today after experiencing a short bout of sideways trading as BTC struggled to decisively move into the $8,000 region. Although today’s drop has slightly shifted the overall market sentiment for the worse, analysts are now noting that Bitcoin may be nearing a price at.
BTC/USD From yesterday's open at $8020 the price of Bitcoin has been moving sideways, hovering around the level but was mostly holding above $7893 until now when the price started moving below it with it currently being traded at $7802.
Bitcoin price failed to gain momentum above $8,150 and $8,200 against the US Dollar. The price is slowly moving lower in a range and it could test the $7,700 or $7,660 support. This week’s followed key bullish trend line was breached with support near $7,980 on the hourly chart of the BTC/USD pair (data feed.
Bitcoin’s [BTC] recent comeback has reignited the rise of the altcoin market. With a record growth of 105% in five months, Ethereum [ETH] maintained its position as the best performing altcoin for value recovery.
By CCN: The cryptocurrency market has been awash in bearish sentiment on Monday, with Bitcoin failing to maintain the $8,000 mark and most of the other top 20 coins moving in a sideways or downward trend.
Mid May Update: Technicals 4H RVNBTC RVN is in a trendless ranging (minor trend) hovering around a confluence point of Fib50 and MA50 on the 4 hour chart. One of our interpretations is that RVN just did a wave 2 of Elliot cycles and we are waiting for some pressure relief by bitcoin in the […]
The post Ravencoin (RVN) Price Prediction 2019 – 1k+ Sats Still In Prospect If Bitcoin Goes Sideways (May 19th Update) appeared first on CaptainAltcoin.
The recent bull run in Bitcoin’s [BTC] market resulted in a recovery spree for the altcoin universe. While several altcoins made headlines for incurring massive spikes in value, Tron [TRX], the ‘investor friendly’ altcoin, exhibited sideways trajectory through the year.
Ripple (XRP) investors have been discouraged as of late after watching Bitcoin and many other cryptocurrencies surge while XRP remained caught in a bout of sideways trading in the lower-$0. 30 region.
The crypto-ecosystem regained its momentum following Bitcoin’s [BTC] stellar performance in bringing the market back form the dead. After weeks of sideways movement, XRP has finally come to the bull party, recording a growth of almost 6% over an hour.
Despite a bout of sideways trading in the crypto markets, Bitcoin has continued to extend its upwards momentum that was first established in early-April, and has now moved above the key $6,000 level that many analysts view as a critical price level for BTC to hold above.
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.
By CCN: The bulls are back. After a prolonged period in a sideways range, the bitcoin price has finally established a powerful uptrend. As BTC breaks the $6,000 level, enthusiasm is returning in waves to the cryptocurrency industry.
Price fluctuations in the cryptocurrency industry have been ongoing for some time now, with some cryptocurrencies enjoy a slight bullish run while others still in the bear’s claws. Bitcoin [BTC], the world’s largest cryptocurrency, saw a significant rise in value over the previous week, almost touching the $6000 mark.
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.
Summary:Following unconfirmed claims by the NYC Attorney General regarding Bitfinex and Tether’s insolvency, the bitcoin market had a knee jerk reaction that caused us to retest macro support.
Crypto markets lethargic on Monday morning; Bitcoin holding steady, Ontology dumping, IOTA mooning. Market Wrap Crypto markets are still pretty lethargic this Monday morning. Following a weekend of inactivity things still have yet to wake up for most crypto assets.
The crypto market isn’t doing so well at the moment. Bitcoin (BTC) continues to trade sideways, putting downside pressure on the altcoins market. In spite of these conditions, most major altcoins have retained their positions on market cap rankings, apart from Digibyte (DGB) and a few others.
By CCN. com: In the past 24 hours, the bitcoin price fell 2. 16 percent against the U. S. dollar from over $5,600 to $5,422 as the crypto market slightly retraced. The valuation of the crypto market fell from $181 billion to $176 billion, by more than $5 billion on a single day.
Despite being caught in a bout of sideways trading yesterday, Bitcoin has been able to maintain its upwards momentum and has now surged above the $5,600 level. This upwards momentum has so far been relatively isolated to BTC, as most other cryptocurrencies have not yet surged.
Summary:Bitcoin clearly broke upward out of reaccumulation trading that had spent three weeks consolidating sideways. The market has begun to drift into a zone of supply between the $5,700 and $6,000 levels.
Bitcoin [BTC] broke out of its sideways trend that saw coins fall after a brilliant start to April. This “break-out” is especially significant since it came days after the coin was trading sluggishly, pulling the market cap below $175 billion.
After days of sideways movement, the collective market stepped up, surging over $180 billion yet again as Bitcoin [BTC] pushed above the $5,350 resistance. Several coins were ushered into the green, with a standout rise exhibited at the end of the top-10 list by Cardano [ADA].
BTC/USD From Friday’s open when the price of Bitcoin was $5320, we have seen sideways movement for the price action as the price fell down to $5240 on the same day after which an increase to $5365 was made, only to another downfall to $5261. The price is currently sitting at $5342 and is in […]
Since January, in less than four months, the valuation of the crypto market is up around $52 billion from $125 billion with the bitcoin price comfortably hovering above the $5,300 mark. Historically, alternative cryptocurrencies, or altcoins, have performed particularly well when bitcoin demonstrates a sideways price movement or remains stable in a tight price range.
Despite the cryptocurrency market’s sideways trading, the collective community has continued to predict an optimistic future for Bitcoin [BTC]. In fact, some have opined that this future could result in a trillion dollar bull run.
Although the crypto markets are currently caught in a bout of sideways trading, many analysts and investors are closely watching some newly formed technical levels for insight into where Bitcoin (BTC) is heading next.
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.
Despite losing the majority of its upwards momentum over the past week, Bitcoin has been able to continue climbing higher and is now approaching the $5,300 level. BTC’s ability to continue climbing higher despite the lack of major buying volume has been technically positive, but traders are still laying out potential bear scenarios that could.
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.
BNB has managed to breach resistance levels of USD 20 to attain a new high of USD 21. BCH has been range bound for the last 24 hours seemingly portraying a market that may be headed south. EOS has also been on a sideways market with indications that it may dip further.
Coinspeaker Bitcoin Price Analysis: BTC/USD Continues Sideways, Expecting Breakout at $5,299The bullish breakout of Bitcoin price at $5,299 level will expose the coin to $5,574 resistance level which may be its target in case the bulls increase its pressure.
The cryptocurrency market’s return to the sideways movement pattern has discouraged many new investors and institutions from trying their hand at the field of digital assets. Popular cryptocurrencies like Bitcoin [BTC], Ethereum [ETH], and Tron [TRX] were all subjected to this price clamp, as evidenced by the stagnation of their market volume and market cap.
Bitcoin price is consolidating above the $95,000 support zone. BTC must settle above the $100,000 level to start a fresh increase in the near term. Bitcoin started a fresh increase from the $94,200 zone.
Bitcoin price started a fresh upward move above $100,000. BTC is facing resistance at $103,000 and might aim for an upside break. Bitcoin started a decent upward move above the $100,000 zone. The price is trading below $103,200 and the 100 hourly Simple moving average.
Bitcoin price settled above the $100,500 resistance zone. BTC is consolidating gains and might aim for a fresh increase above the $105,000 zone. Bitcoin started a downside correction from the $106,800 zone.
