Yesterday was a wild day for Bitcoin, with the cryptocurrency surging well over 5% to highs of just below $8,000 before it met some insurmountable resistance that slowed this rally. It is important to note that BTC has been able to maintain all of its recent gains in the time since this rally first occurred.
One highly respected analyst is now noting that Bitcoin could currently be at a key pivoting point, with is reaction to its current price levels setting the tone for which direction it will trend throughout 2020 – but will its next movement favor buyers or sellers?
Bitcoin Reaches a Key Pivoting Point After Yesterday’s Rally
At the time of writing, Bitcoin is trading up over 5% at its current price of $7,970, which marks a massive climb from its daily lows of $7,500 that were set yesterday morning. BTC is currently trading at right around where it was rejected at yesterday, which signals that a break above the resistance at $8,000 may be imminent.
If Bitcoin does manage to decisively push above $8,000 in the near-term and hold above this level over an extended period of time, bulls may be able to generate significantly further support that could help catalyze another leg up.
Another rejection at or around this level, however, could point towards an underlying weakness amongst BTC’s buyers and lead to a strong and swift rejection.
Scott Melker, a popular cryptocurrency analyst on Twitter who goes by the name “The Wolf of All Streets” shared his thought on Bitcoin in a recent tweet, noting that its response to this region could set the tone for where it trends in the foreseeable future.
“What $BTC does from here will largely determine its course for the foreseeable future,” he explained.
What $BTC does from here will largely determine its course for the foreseeable future.
— The Wolf Of All Streets (@scottmelker) January 7, 2020
Bulls Are Looking Strong as Macro TA Begins Shaping Up
It is clear on shorter time frames that Bitcoin is currently caught in a firm uptrend, and it appears that the recent rally from lows of $6,400 have made the crypto look strong over a larger time frame as well.
“$BTC Weekly – Stochastic RSI Div. Check the thread above, check the chart now. Beautiful oversold WEEKLY div, price is currently back above the EQ of the channel. Hard to be bearish on the weekly chart,” Melker further explained in another tweet.
$BTC Weekly – Stochastic RSI Div
Check the thread above, check the chart now. Beautiful oversold WEEKLY div, price is currently back above the EQ of the channel. Hard to be bearish on the weekly chart. pic.twitter.com/cWiLucOQzL
— The Wolf Of All Streets (@scottmelker) January 7, 2020
In the near-term, Bitcoin’s response to $8,000 remains a critical event that will offer insight into its future trend’s direction.
Featured image from Shutterstock. The post appeared first on NewsBTC. origin »
USDT’s monthly market cap turned positive after contracting by -2% while USDC surged by 20%
Growing liquidity impulse usually sparks a rally
Stablecoin market cap growth, alongside BitcoinThe post Here's how stablecoins, ETFs can fuel another Bitcoin rally appeared first on AMBCrypto.
The crypto market roared back to life Wednesday, with Bitcoin surging above $101,000 once again. A mix of regulatory wins and broader market optimism fueled a rally that saw significant gains across digital assets, led by Ripple's XRP.
The Bitcoin ecosystem has trailed Solana in memecoin traction.
Can Bitcoin Dogs [ODOG] benefit from the ongoing meme mania?
Since the U.S. elections, memecoin traction and market size doThe post Are Bitcoin memecoins next to rally in 2025? Why ODOG could rally next appeared first on AMBCrypto.
Anticipation toward the next major rally for Bitcoin continues to increase within the cryptocurrency community following the start of this bull cycle. However, the wait could be over as a crypto expert has predicted a potential rally for BTC in the final quarter of this year.
Bitcoin has performed well in the past few days after experiencing a strong downturn in the first two weeks of September. This rally kickstarted in the middle of this week after the Fed decided to slash the benchmark interest rate by 50 basis points (bps), a move that proved positive for cryptocurrencies.
Bitcoin's price has experienced a notable rally, climbing more than 23% over the past two weeks to reach a two-month high of $68,583 on July 22, before falling back to $65,500 on Wednesday.
Bitcoin saw a sharp rally in early May.
The drop below the SSR oscillator bands was seen then- but will we see an extended rally hereon?
Bitcoin [BTC] was trading at $67k at press time and tThe post Bitcoin repeats THIS historical pattern: Is a bull rally coming? appeared first on AMBCrypto.
Massive retracement before the BTC halving event is “not unusual.”
An extended rally always ensues the halving event, lasting 6-18 months.
Bitcoin [BTC] rebounded following a dovish US FThe post Bitcoin: Should you expect an '18-month' post-halving rally this year? appeared first on AMBCrypto.
The cryptocurrency market has entered a mini-winter period as the recent rally fades and as investors reflect on last week’s approval of a Bitcoin ETF. Bitcoin remained under pressure at $43,000 while the total market cap of all digital coins has eased to $1.
The Bitcoin price rally is losing strength as the cryptocurrency returns to its support levels following weeks of bullish momentum. In the short term, the landscape seems sloped to the downside, but an analyst presented the main reasons why the rally has just begun.
BTC was up by more than 20% over the last 30 days.
Most metrics looked bullish, but market indicators like RSI supported the bears.
Bitcoin [BTC] has enjoyed a comfortable rally over the lasThe post Can Bitcoin maintain its bull rally in November? appeared first on AMBCrypto.
Bitcoin’s rally past the $34,000 mark has also triggered a similar rally in the DeFi sector. Almost all coins have witnessed a notable price increase and growing activity since Bitcoin’s rally, with Solana experiencing a significant resurgence.
On-chain analysis examines the BCH Miners $200 million sell-off could impact the Bitcoin Cash price rally in the coming days.
The post Bitcoin Cash (BCH) Miners Cut Reserves to 5-Year Low – Can the Bulls Sustain the Rally? appeared first on BeInCrypto.
TLDR Bitcoin’s upcoming pre-halving event has set the tone for a rally. The International Monetary Fund (IMF) warns of possible inflation in 2024, which can affect Bitcoin’s rally. Crypto whales seeking ways to diversify their portfolios are looking to NuggetRush for considerable returns.
On-chain data shows the Bitcoin sharks and whales added to their holdings right before the latest rally in the asset’s price occurred. Bitcoin Investors Holding Between 10 to 10,000 BTC Bought Ahead Of Rally According to data from the on-chain analytics firm Santiment, the large BTC holders scooped up a significant amount of the asset […]
A profit-taking wave has triggered yet another Bitcoin (BTC) retracement below $30,000.
How high can it rebound during the next price rally?
The post Why Bitcoin (BTC) Price Could Hit $33,000 During the Next Rally appeared first on BeInCrypto.
Bitcoin's bullish rally resulted in a 13.27% jump in value week-on-week.
BTC's spot market activity was being powered by the U.S. market, with Coinbase taking the lead.
Fueled by institutionThe post Bitcoin: What's behind the ongoing rally? appeared first on AMBCrypto.
Here’s how the current Bitcoin rally stacks up against the previous ones in terms of the drawdowns it has experienced so far. The Current Bitcoin Rally Has Seen A Peak Drawdown Of -18. 6% So Far In a recent tweet, the on-chain analytics firm Glassnode compared the latest Bitcoin rally with the ones seen throughout the entire history of the cryptocurrency.
Key takeaways MicroStrategy has recorded a profit for the first time in nine quarters, thanks to Bitcoin’s rally since the start of the year. AltSignals has completed 62% of its presale and looks to raise over $300k in the coming weeks.
The 2023 Bitcoin rally, which has seen the cryptocurrency's value surge past $30,000, is expected to continue, according to Bank of America strategists Alkesh Shah and Andrew Moss
Bitcoin has recovered above $23,000 off the back of a rally that had started during the last leg of the weekend. This recovery has brought more money into the market, which has helped push the price even further.
Bitcoin has recovered back to $42,000 since the dump after recording a bearish trend. Since then, sentiment, as well as momentum, has since turned towards the positive, leading the digital asset back on the path to a bull rally.
Bitcoin's flash crash and the larger market's consolidation have presented an interesting opportunity for certain altcoins to rally. While altcoins independently rallying isn’t an unusual phenomenonThe post Might 'weakening' Bitcoin, Ethereum allow Quant to rally appeared first on AMBCrypto.
Bitcoin has been slaughtering bears for the past couple of months. Since the fall of last year, the cryptocurrency has seen a face-melting rally to hit a new lifetime high of $64,800 earlier this month.
Bitcoin's price correction in the ongoing rally was rather short-lived and the asset is back trading at the $32400 level based on data from CoinMarketCap. Though traders endured losses in the dip, andThe post Will range-bound Bitcoin fuel an altcoin rally? appeared first on AMBCrypto.
Bitcoin’s rally to $41000 and price discovery beyond it has been mostly straightforward. Most predictions made before the end of 2020 are looking conservative when compared to the price chart. FurthThe post Everything you need to know about the current state of the Bitcoin rally appeared first on AMBCrypto.
Bitcoin’s rally has been heating up as of late, with bulls taking full control of its price action as they sent its price rocketing past its previous all-time highs overnight This rally didn’t last for too long, as an influx of selling pressure around $36,000 slowed its ascent and caused it to reel towards $34,000 […]
Bitcoin has undergone a strong rally over recent months, gaining in tandem with legacy markets. While many think that the cryptocurrency’s rally is just a byproduct of a correlation with the S&P 500, there are some that think the asset has immense intrinsic value in the current macro environment.
Bitcoin fell towards $11,500 on Wednesday, a move that followed its brief rally above $12,000 earlier this week. The correction appeared as a testament to profit-taking behavior. Traders decided to liquidate their long positions following a supersonic intraday rally, thus securing their short-term gains.
Bitcoin saw a sharp and unexpected rally past $10,000 yesterday that caught sellers off guard This movement allowed the benchmark crypto to rally to highs of $10,400 before it lost its momentum and declined back to the lower five-figure price region The cryptocurrency now appears to be trading at a pivotal point, and analysts are noting that it could still see further downside in the days and weeks ahead There is one level that, if […]
Bitcoin isn’t even past $10,000 — let alone the latest all-time high of $20,000 — but analysts are already craving the crypto market’s next parabolic bull rally. While this rally has yet to arrive, a prominent cryptocurrency chartist has indicated that it’s close.
Bitcoin's recent price rally and industry optimism contrast with the downbeat tone in the U.S. stock market. Even Visa's CEO says digital currencies could be "additive to the payments ecosystem."
Bitcoin eyes a new price rally as investors assess the provisional reopening steps taken by the U. S. states. Analysts believe a restrained second wave of Covid-19 infections could increase risk sentiment.
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.
Blockchain technology is revolutionizing industries such as financial markets, global trade, insurance, and gaming, with the potential to bring hundreds of trillions of dollars worth of assets onchain.
The VIRTUAL price rose to highs of $2. 45 after Upbit, Korea’s largest exchange, announced trading support. Upbit planned to add VIRTUAL pairs against Korean Won, BTC and USDT. Virtuals Protocol is also among tokens in Injective’s AI index AIX.
Securitize and Apollo have teamed up to launch a diversified credit fund. The Apollo Diversified Credit Securitize Fund, ACRED, goes live on Aptos, Avalanche, Ethereum, and Solana blockchains. Tokenization platform Securitize has partnered with $730 billion alternative asset manager Apollo to bring a new tokenized credit fund on-chain.