Bitcoin has been on a remarkable rally over the past few weeks. The asset has mounted past resistance level after resistance level, recently crossing $9,000.
Market cynics have said that BTC’s recent inability to surmount the key $9,500 resistance is indicative of a top. Though analysts are starting to agree that there’s a growing converge of positive signs for Bitcoin.
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Bitcoin Flashes Flurry of Positive Signs on Weekly Chart
The strong recovery in the price of BTC since March’s $3,700 lows has allowed it to print a number of bullish signs. One top trader identified some of these signs on a weekly time frame, and they are as follows:
The Moving Average Convergence Divergence (MACD) has seen a bullish cross. As reported by NewsBTC, in 2017 the indicator flipped green at $2,000 to mark the start of a 1,000% rally to $20,000. And at the start of 2019, Bitcoin rallied 300% when the indicator trended green in January.
The Parabolic Stop-And-Run indicator has printed a “buy.” As reported by NewsBTC, every time this signal was seen in the past five years, the cryptocurrency has seen “significant” upside, as put by Nunya Bizniz.
Bitcoin has recently crossed above three key averages: the 50-week, 100-week, and 200-week simple moving averages. The latter level is a crucial historical support, making the reclamation that much more bullish.
Chart from @CryptoHamsterIO (Twitter)
Also on a weekly time scale, Coindesk market analyst Zack Voell noted that Bitcoin on Sunday night closed its seventh consecutive week of gains, something not seen since April 2019, when the last bear market ended.
Chart from Zack Voell
This would suggest that should history repeat itself, the cryptocurrency is on the verge of yet another bull run. With Bitcoin being a market based on reflexivity (meaning momentum), this makes sense.
Add Bullish Fundamentals to the Mix
Alongside these positive technical trends are fundamental events that could catalyze Bitcoin growth.
The Federal Reserve just committed to even more money printing in the weeks ahead.
In a statement last Wednesday, Jerome Powell, Chairman of the Federal Reserve, warned that the U.S. economy is currently in its worst rut in history due to the outbreak of COVID-19:
“We are going to see economic data for the second quarter that is worse than any data we have seen for the economy. There are direct consequences of the disease and measures we are taking to protect ourselves from it.”
Powell said that to respond to this, the Federal Reserve will continue to commit to low interest rates, capital facilities for companies, and other liquidity injections.
Also, Bitcoin’s block reward halving is taking place in under seven days, which analysts say will cause the price of the cryptocurrency to rise should demand remain consistent or grow.
Photo by laurent DE BRITO on Unsplash origin »
Just hours after our last market update, Bitcoin has topped $10,000. This is the first time the cryptocurrency has done this in over seven weeks. After holding $9,400 for all of Wednesday, the cryptocurrency surged higher over the past few hours, passing resistance after resistance in the $9,000s, culminating in the surge past $10,000 just...
Ethereum is struggling to gain bullish momentum above the $210 and $220 resistance levels against the US Dollar. ETH price remains at a risk of drop below $200 if it continues to struggle near $210.
On May 6, the Bitcoin price finally broke out from the resistance line it had been following over the past week. This could be a sign that the BTC price is ready to move towards new highs. In this article, we will take a look at the Bitcoin price movement, along with nine other cryptocurrencies, […]
The post Crypto Price Analysis May 6: BTC, ETH, XRP, BCH, BSV, LTC, BNB, EOS, XTZ, LINK appeared first on BeInCrypto.
Bitcoin has seen some notable upwards momentum today that has allowed the benchmark cryptocurrency to surmount the heavy resistance that it was previously facing at $9,200. Today’s upwards breakout marks a bullish resolution to the extended bout of sideways trading that the crypto was previously facing while it hovered around $8,800 for the past several...
The S&P 500 has been increasing since March 13, when it reached a low of $2,173. Since then, the price has increased by 28%. However, the increase has seemingly stalled over the past week, since the price has reached an important resistance level.
Bitcoin has been on an impressive run over the past few weeks, mounting past resistance after resistance despite a harrowing macroeconomic backdrop. Since the March lows of $3,700, BTC is up 150%, a stellar performance that puts almost any other $100 billion+ asset to shame.
The past few days have undoubtedly been bullish for Bitcoin, with the cryptocurrency ripping over 20% higher from the mid-$7,000s to a price as high as $9,500 over the course of 48 hours. Since hitting $9,500 though, BTC has stalled, entering a consolidation around $8,800 as the market becomes indecisive, stuck between support around $8,500 and resistance at the ever-important level of $9,000.
The past few days have undoubtedly been bullish for Bitcoin, with the cryptocurrency ripping over 20% higher from the mid-$7,000s to a price as high as $9,500 over the course of 48 hours. This stunning rally has brought the cryptocurrency above some key resistance levels pointed out by traders. One trader noted that during the...
On April 29, the Bitcoin (BTC) price broke out from a short-term ascending channel that had been in place for the past five days. The price reached a high of $7966 before decreasing slightly. Bitcoin’s Breakout After five unsuccessful attempts at moving above the resistance line, the Bitcoin price finally managed to move above it […]
The post Bitcoin’s Breakout: New Upward Move or Retracement? appeared first on BeInCrypto.
Bitcoin has seen some lackluster price action throughout the past few days, generally finding itself caught within a bout of sideways trading within the mid-$7,000 region as bulls struggle to surmount the heavy resistance that has been laced throughout the upper-$7,000 region.
It has been an important past few weeks for Bitcoin. Due to consistent buying pressure, the cryptocurrency has crossed above key resistance level after key resistance level after March 12th’s crash, reaching a high of $7,800 just recently.
While the aggregated crypto market consolidates following the recent upswing, Tezos has continued climbing higher as it expresses further signs of strength against many of its peers. This strength has now led the crypto to push above a key horizontal resistance region that was significantly hampering its price action in the past, with a confirmed break above this level potentially opening the gates for significant upside in the days and weeks ahead. The move past […]
The crypto market has been caught within a state of purgatory for the past several days, with most major altcoins consolidating as investors closely watch to see how Bitcoin will respond to the key support and resistance it is currently trading between.
Over the past week, Bitcoin has managed to breach and hold the much-anticipated $7000 level, after re-testing the resistance for the fifth time. Following the same, the collective digital asset marketThe post Bitcoin prepping to scale as EOS, Vechain struggle with sideways movement appeared first on AMBCrypto.
XRP has seen a notable price climb throughout the past few days, with its price rising in tandem with that of Bitcoin and most other major cryptos. This has led the token up towards $0. 20, which appears to be where it faces some intense near-term resistance.
Bitcoin has been struggling to find a way above $7,000 for the past two weeks with several significant rejections from the resistance area. The bulls, however, have been able to maintain a daily uptrend and have stayed above the 12-period EMA for the last week.
Bitcoin is struggling to gain momentum above the key $7,000 resistance against the US Dollar. BTC is likely to surge past $7,000 as long as it is above $6,400 and the 100 SMA (H4). Bitcoin price is currently showing a few bearish signs below the $7,000 resistance area. There is a strong support forming above...
Over the past three weeks, Bitcoin has tested the resistance at $7000 three times, failing to sustain itself for long each time. As the price continued to consolidate under the $6800 mark, all eyes weThe post Bitcoin may dictate Ethereum's price for a period longer than expected appeared first on AMBCrypto.
Ethereum has been closely tracking Bitcoin’s price action over the past day, which has led it to once again enter a consolidatory phase within the mid-$130 region. This bout of sideways trading closely follows the crypto’s recent rally that sent it surging towards its key resistance at $140.
The aggregated cryptocurrency market has been caught within a firm uptrend over the past few days, with Bitcoin rallying up to its key resistance in the upper-$6,000 region leading many major altcoins including XRP all posting some decent gains.
Bitcoin and the crypto market have been firmly caught in the throes of immense volatility over the past several days and weeks, with Bitcoin’s sharp swings leading altcoins like Ethereum to follow suit and incur some notable volatility.
So, after a week of barely clinging onto the $5,000s, things are slowly gaining momentum for the world’s first and most popular cryptocurrency. Over the past 24 hours, Bitcoin has slowly crept its way up beyond the resistance at $6,100.
Ethereum has been caught within the throes of an intense and unrelenting selloff for the past week, with its capitulatory drop seen last Thursday sending it reeling down from its position in the $200 region to lows of roughly $90.
After a massive decline, bitcoin cash found support near the $140. 00 level. BCH to USD is currently correcting higher and it is likely to face a strong resistance near the $200. 00 and $205. 00 levels.
Although Bitcoin has continued its extended period of rangebound trading, it is important to note that Ethereum (ETH) has been able to see further upwards momentum today, with the cryptocurrency rallying past key resistance as its market structure shapes up to be highly bullish.
Bitcoin (BTC) has once again found itself caught within a bout of sideways trading over the past day, which has come close on the heels of the cryptocurrency’s recent breakout rally that propelled it above its resistance around $8,900.
Bitcoin hasn’t fared too well over the past week; after hitting $10,000 last weekend, the price of the leading cryptocurrency fell, tumbling from that key psychological resistance to a price as low as $8,450 (TradingView data) — a drop of 15%.
To put it lightly, Bitcoin has not fared well over the past weeks. The price of the leading cryptocurrency, ever since rejecting the key $10,500 resistance as if it was a stone wall, has acted weak, losing support and support.
Bitcoin's volatility has been on the rise for the past few weeks now. The king coin, while it was once aiming to surpass the $10k resistance, now has to deal with immediate resistances around $9.
Bitcoin has been rejected several times from the mythical $10,000 level. This resistance level is definitely one of the most important levels for Bitcoin, technically and psychologically. The last time Bitcoin attempted a break above $10,000 was back in October 2019 when the digital asset peaked at $10,370 and crashed shortly after. Bitcoin was only […]
Just minutes ago, Bitcoin tested $10,000. This came after the cryptocurrency had flatlined at $9,900 for most of Sunday, seemingly trying to establish some directionality. Unfortunately, the brief surge to $10,000 failed, with the asset getting rejected right at the key resistance, the second time BTC failed to maintain an uptrend in the past 24...
Over the past two days, the crypto market hasn’t fared too well. After peaking last week, the prices of digital assets across the board have tanked. XRP, the third-largest cryptocurrency by market capitalization, tanked from the multi-month high just a smidgen above $0.
On February 11, the QNT price reached a high of 53,120 satoshis. It has been decreasing since. Quant (QNT) Highlights The QNT price has been following a descending resistance line for the past 378 days.
Ethereum has been caught within some turbulence over the past week, with its price action largely mirroring that of Bitcoin and the aggregated crypto market. Earlier this week, ETH plummeted from its recent highs of $280 to lows of $250, before finding some strong buying pressure that has allowed it to climb back to its current price region.
Ethereum (ETH) has seen some mixed price action over the past week, with the cryptocurrency previously finding some stability around $280 before plummeting below $250 in tandem with Bitcoin’s crash below $10,000.
Digital asset markets had started to recover over the past day or so but the Bitcoin bulls could not overcome resistance levels. The correction has resumed with an almighty dump overnight. Cryptocurrency markets were just below $300 billion in terms of total capitalization when Bitcoin fell off a cliff.
Digital asset markets had started to recover over the past day or so but the Bitcoin bulls could not overcome resistance levels. The correction has resumed with an almighty dump overnight. Cryptocurrency markets were just below $300 billion in terms of total capitalization when Bitcoin fell off a cliff.
Ethereum jumped back above $260 and $270 against the US Dollar. ETH price is now consolidating above $275 and it could soon surpass the $288 resistance area. Ethereum is back in a positive zone, with a strong bullish bias above $275 against the US Dollar.
The ongoing rally seen amongst major cryptos has allowed XRP to break past the key resistance it was previously facing around $0. 33, with its movement past this level leading analysts to grow even more bullish on the cryptocurrency than they were before.
Ethereum (ETH) has seen some insane price action over the past several days, with its 2020 rally rapidly turning parabolic as bulls look to propel the crypto past $300. This intense upwards rally has allowed the cryptocurrency to break above a key resistance level that had previously been suppressing its price action, suggesting that it...
XRP has been one of the best performing major cryptocurrencies over the past several days, with its recent rally past $0.30 allowing it to form a highly bullish market structure that is likely to lead...
Bitcoin has continued pushing past the heavy resistance it has been navigating through over the past few days, with BTC’s recent break above $10,000 allowing it to slowly grind higher as many major altcoins begin building major momentum.
Bitcoin extended its rise towards the $10,500 resistance area against the US Dollar. BTC is now showing signs of exhaustion and it could dip a few points before continuing higher. Bitcoin price is struggling to gain momentum above $10,400 and $10,450 against the US Dollar.
The PERL price has doubled in value over the past week. AMB has yet to increase significantly, but it has broken out above an important resistance level. PERL Highlights There is support at 400 satoshis.
Bitcoin price revered losses and climbed to a new 2020 high at $10,406 against the US Dollar. BTC is now eyeing another bullish wave above $10,500 in the near term. Bitcoin is gaining bullish momentum above the $10,000 and $10,200 resistance levels against the US Dollar.
Ethereum has been caught within what can be characterized as a “moonshot” rally over the past several days and weeks, with its intense bullishness being even further bolstered by Bitcoin’s rapid rise past $10,000. This...
After days and days of an uptrend, Bitcoin has finally started to retrace over the past couple of hours. The price of the leading cryptocurrency is now at $9,800 — just under 4% shy of the $10,200 local top put in on Sunday, which lines up with a key resistance.
Ethereum has been frontrunning the aggregated crypto markets over the past several days and weeks, with last week’s rise above ETH’s resistance at $200 offering investors a hint that Bitcoin would subsequently be able to break through its key resistance at $10,000.
The cryptocurrency world had been eagerly waiting for Bitcoin [BTC] to breach crucial resistance at $9.8k and enter the $10k club. Even though Bitcoin's price did surge past the $10k mark, it couldn'tThe post Bitcoin's derivatives market: Why Bakkt isn't gaining market share compared to Bitmex, Deribit appeared first on AMBCrypto.
Although Bitcoin (BTC) managed to recover most of its losses over the weekend after tumbling as low as $78,258 on February 28, the premier cryptocurrency has created a massive new Chicago Mercantile Exchange (CME) gap, raising concerns that the digital asset may witness another pullback to the low $80,000 level. Bitcoin Not Out Of The […]
Ethereum (ETH) hit a new yearly low of $2,076 earlier today, further weakening sentiment around the second-largest cryptocurrency by market cap. If Ethereum falls below $2,000, it could trigger additional losses for investors.
The crypto market trended lower last week as US tariffs rocked the market, causing investors to flee to safe-haven assets like Gold. Crypto prices which recovered slightly on Monday and Tuesday continued trending downward as uncertainty looms.
Bitcoin fell 4. 72% over the weekend and another 3. 50% during Monday’s Asian session as tensions driven by Trump’s tariffs have investors derisking their positions. Over the weekend, China responded to Trump’s tariffs by indicating interest in imposing tariffs on US goods, while Canada imposed a 25% tariff on CA$155 billion worth of US goods.
2025 has not started on a strong note for Ethereum (ETH), as the second-largest digital asset by market cap continues to trade below its yearly open. Recent on-chain movements also suggest that crypto whales might be losing confidence in ETH’s potential to deliver outsized returns.
The crypto market trended lower last week, driven largely by risk-off sentiments on newly released Fed meeting notes and economic data The Fed expressed caution around inflation, especially as President-elect Donald Trump’s policies will kick in after his inauguration on January 20 Meanwhile, spot crypto exchange-traded funds (ETFs) logged outflows from Wednesday, January 8 Bitcoin […]
The post Weekly price analysis: prices decline on risk-off sentiments appeared first on CoinJournal.
Cryptos trended lower last week, driven largely by risk-off sentiments on newly released Fed meeting notes and economic data. The Fed expressed caution around inflation, especially as Trump’s policies will kick in after his inauguration on Jan.
