Bitcoin has extended its newfound consolidation phase as it trades around $9,200
Both its bulls and bears have reached an impasse, with neither group being able to catalyze any clear momentum
It now appears that BTC is positioned to see further sideways trading in the near-term, but one indicator is showing that the tides are shifting into bulls’ favor
This comes as the crypto’s “Unspent Bitcoin Map” signals that there is massive support hovering just around $9,000
It also shows that this is a pivotal level, and another visit here could be met with intense buying pressure that kicks off the next uptrend
Following the rejection at $9,500 seen earlier this week, Bitcoin has entered yet another bout of sideways trading that has done little to offer insight into its near-term outlook.
Although it has yet to decline beneath any crucial support levels, it is currently trading within its previously established trading range between $9,000 and $9,300.
There is a strong possibility that its next trend will be solely determined by how it reacts to the support at $9,000 and resistance at the upper boundary of the range.
One analyst is now pointing to the cryptocurrency’s “Unspent Bitcoin Map” as an indicator that bulls might be in control of BTC at the present moment.
This Indicator Suggests $9,000 is a Massive Support Level for Bitcoin
At the time of writing, Bitcoin is trading down marginally at its current price of $9,215. This is around the level at which it has been trading throughout the past couple of weeks.
It does appear that buyers are defending against a dip below this level. This may be because there isn’t much support between its current price and $9,000.
While pointing towards Bitcoin’s “Unspent BTC map,” one analyst explained that $9,000 has now become a substantial support level for the digital asset.
It also shows that this may be a pivotal level, with its reaction here determining how it trends in the weeks ahead.
“Based on the map of unspent bitcoins we seem to have quite a bit of support underneath us. Big bubbles are usually pivotal levels (s/r),” he said while pointing to the below chart.
Image Courtesy of Byzantine General.
Could Traders’ Profitability Be a Warning Sign for BTC?
The same trader who spoke about the vital nature of Bitcoin’s $9,000 support also explained that one concerning trend is that most traders are currently profitable, with moving profits not yet crossing moving losses.
This means that Bitcoin’s price may be poised to slide until this cross takes place.
“Something that worries me though is this. Most traders are in profit. And usually when moving profits start dropping, it doesn’t stop until it crosses moving losses. Currently no cross yet.”
Image Courtesy of Byzantine General.
Because $9,000 has now become a crucial level, whether or not it is broken again by Bitcoin’s sellers will be a testament to their underlying strength.
Featured image from Shutterstock.
Pricing data from TradingView. origin »
Bitcoin (BTC) stands firm at $93,257, a crucial support level that could determine its next major move. As the battle between bulls and bears intensifies, the stakes are high: a successful defense could spark renewed momentum, while a break below might trigger significant losses.
The range formation of April and May gained notability once again.
The bulls might falter and cede the $60k level to the bears in the coming days.
Bitcoin [BTC] noted losses of 7.84% on the The post Bitcoin: Why a correction below $60k could be good news for BTC bulls appeared first on AMBCrypto.
BTC price moves become increasingly erratic in the hours leading up to a slew of U.S. macroeconomic data prints after Bitcoin bulls fail to flip $63,000.
Bitcoin (BTC) has been trading in a tight range for quite some time now, with bulls and bears engaged in a tug-of-war over key support and resistance levels. The recent move above $29,500 has provided some hope for the bulls, but so far, they have been unable to gather enough momentum to push prices higher.
Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion.
The market structure shifted firmly in bulThe post Bitcoin: Why $34k is the next target for bulls appeared first on AMBCrypto.
Bitcoin bulls have their hands full in the next days to carry out a strong advance to lift BTC out of the pit. Throughout today’s trading session, the market’s performance has been bullish.
Bitcoin has found it difficult to break higher over the past two days, with bulls hemmed within the $42-$44k. The pioneer cryptocurrency, which last week came close to retesting support levels seen in late January, raced to highs near $45,000 earlier this week as it briefly decoupled from stocks.
Bitcoin remains range bound in lower timeframes trading at $54,277. The first cryptocurrency by market cap records almost no gains in the daily chart, but a massive 23. 9% in the 7-day chart. The general sentiment in the market has flipped bullish, as investors seem to be waiting for further appreciation in Q4, 2021, a period that usually works for the bulls.
BTC bulls are trying to weather downside pressure that has seen Bitcoin trade as…
The post BTC outlook: Bitcoin price near key hurdle as bulls target $49k appeared first on Coin Journal.
Bitcoin has seen some mixed price action as of late, with bulls and bears largely reaching an impasse as the cryptocurrency consolidates Where it trends next will undoubtedly depend largely on whether or not bulls can break the ongoing consolidation phase and spark a move higher This will likely only come about if BTC can […]
Bitcoin has seen some wild price action as of late that has put a short-term end to the cryptocurrency’s extended parabolic uptrend. Where the market trends in the mid-term will undoubtedly depend primarily on whether or not bulls can main control over the lower-$30,000 region, which is around where it has found some serious support […]
Bitcoin is in the process of rocketing up towards $32,000, with the cryptocurrency showing some immense signs of strength as bulls target it seeing further upside The overnight breakout rally that allowed it to see this explosive move higher came as a shock, with the resistance at $30,000 being sliced through with ease The strength of this movement does bode well for bulls, as it indicates that significantly further upside could be imminent in the […]
Bitcoin is once again exploding higher, with the recent dip to lows of $17,6000 proving to be fleeting as bulls take control of its price action The crypto is rapidly approaching its previous all-time highs as bulls aim at sending it past $19,400 This has long been a strong resistance level for the crypto, and a break above it could indicate that a move towards $20,000 is imminent One trader is now noting that the […]
Bitcoin’s upwards momentum has stalled following the promising push higher seen yesterday This allowed the cryptocurrency’s price to surge up towards $10,800, which is where it met some serious resistance that slowed its uptrend Despite rejecting at this level, the subsequent downtrend has not been that intense, indicating that bulls may still have some underlying strength One analyst is noting that although BTC is beginning to look bearish, the fact that funding rates are still […]
It has been a dark couple of days for Bitcoin. Since losing the $11K support, an unprecedented drop has been initiated ultimately leading to a breach below $10K. This level has been pivotal to bulls’ efforts and in recent weeks thought to be done and dusted.
Bitcoin has seen some slight downside today, marking a bearish resolution to the bout of sideways trading that it has been caught within throughout the past few days Yesterday, bulls were showing some signs of strength as they pushed the crypto towards $12,000 This fleeting momentum seems to indicate that bulls are still plagued by underlying weakness As for where BTC may trend next, analysts are noting that this did strike a blow to the […]
For the first time in June, 2020 Bitcoin (BTC) left $9,000-$10,000 and touched $8,900 on some spot exchanges. But according to a seasoned investor, bulls aren't giving up
Bitcoin’s bulls and bears have reached an impasse as the cryptocurrency enters a consolidation phase within the upper-$6,000 region. This lackluster bout of sideways trading comes shortly after the crypto faced multiple firm rejections in the lower-$7,000 region.
Data suggests that long-term Bitcoin bulls are still holding BTC despite crashing markets, both traditional and otherwise. Bitcoin Bulls Show Their True Colors The economic principle of supply and demand...The post Bitcoin Bulls Continue to HODL as Optimism Returns appeared first on Crypto Briefing.
Bitcoin bulls were quite pleased on Saturday morning when Bloomberg’s Joe Weisenthal shared the “Automatic BOOST to Communities Act” published by Congresswoman Rashida Tlaib of Michigan.
Bitcoin and the aggregated crypto markets have had a bullish start to 2020, with BTC surging from its recent lows of $6,800 that were set when bulls attempted to spark a sharp sell off earlier this week.
After months of brutal downtrend, it seems that bulls are returning to the Bitcoin (BTC) market. Since the leading cryptocurrency hit $6,400 earlier this month, bulls have taken control of the asset, pushing it from those multi-month lows to as high as $7,700 just this morning prior to a 4% drop.
After incurring tremendous volatility throughout the latter part of October and the majority of November, Bitcoin appears to have now entered a period of consolidation as its bulls and bears send BTC between the upper and lower boundaries of a tight trading range.
Bitcoin’s bulls and bears have been engaged in a heated battle over the past several days and weeks, with BTC’s latest bout of volatility being a sharp downtrend that followed its recent attempt to surge past $8,000.
It’s Halloween today. It’s also the day when anonymous cypherpunk, Satoshi Nakamoto presented the idea of Bitcoin to the world, 11 years ago. The whitepaper released since then has become a model for censorship-resistant finance.
The market is making a correction and trading prices are pumping up by the seconds. Bitcoin amongst many others have attained gains as this correction was an advantageous one as anticipated. Between the last 12hrs, the bulls have stepped in with more than 10% increase in trading volume, which quickly led to a breakout in […]
The post Bulls Regain Territory; Bitcoin Bounces Back Above $12,600 appeared first on ZyCrypto.
According to a notable technical analyst, the recent Bitcoin price drop significantly deteriorated the case for a pending market reversal, signaling that bulls must do a significantly greater amount of work in order to reverse the persisting bear market.
At the time of writing, Bitcoin is trading at $7,348. Last week’s bullish momentum subsided at the $8,250 region, where bulls stood their ground for seven days before overbought conditions turned the tide in favor of the bears, who started to reassert their dominance in the market.
Bitcoin Cash Price Key Highlights Bitcoin Cash celebrated its anniversary but bulls seemed to be nowhere in sight. Price broke below a short-term trend line and triangle consolidation to set off a new wave lower.
Bitcoin Price Key Highlights Bitcoin price is still in pullback mode as it broke below the first Fib and may be setting its sights on the next ones. Bulls could be waiting at the rising trend line connecting the lows since late June and the 61.
BCH/USD Medium-term Trend: Bearish Supply zones: $1000, $1100, $1200 Demand zones: $600, $500, $400 BCH remains in a bearish trend in the medium term outlook. The bears' temporal momentum lost resulted in the bulls returned and they pushed price from $741.
The bulls are back baby! Sort of anyway…
Today the markets are starting to sway back in a positive direction, though as it stands the majority of cryptocurrencies are still down. Because Bitcoin is now moving up once again, we can be certain that the past few negative days have simply been down to correction and nothing more.
Bitcoin might be done with its correction and could aim for the Fib extension levels next if the climb resumes.
The post Bitcoin (BTC) Price Analysis: Are Bulls Ready to Charge Again? appeared first on Ethereum World News.
Bitcoin Price Key Highlights Bitcoin price is still in correction mode but appears to be finding support at the nearest Fib. A bounce from current levels could take it back up to the swing high and beyond.
BTC/USD Medium-term Trend: Bearish Resistance levels: $7,700, $7,800, $7,900 Support levels: $7,500, $7,400, $7,300 Yesterday, July 31, the Bitcoin price is in a Bearish trend. The bulls were preparing to retest the $8,500 price level before the bears came and brought price down to the previous low. The price fell from the high of $8,176.69 […]
In the last 36 hours, the Bitcoin price against the USD started to slip heavily owing to overlong sideways action. The BTC/USD pair has dropped over 5%, summing-up the overall 9% drop since the July’s high at 8512-fiat.
Currently, with the sudden cryptocurrency market turbulence, bears have taken control of the exhausted bulls. In one intra-day of trading, the entire cryptocurrency market capitalization of all 1,600+ coins ($270Bn USD) has lost roughly $25Bn in value.
Bitcoin’s bullish reversal appears to be in peril as bears unexpectedly rocked up and grabbed the bull by the horns. Is today’s pullback caused by current events or are fundamentals impacting Bitcoin price? Weekly Chart 4 Hour Chart Running bulls appear to be halted by bears as a lower high was notched on the weekly chart.
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.
Bitcoin price started a short-term downside correction from the $106,250 zone. BTC is consolidating above $100,000 and might aim for a fresh increase. Bitcoin started a downside correction from the $106,250 zone.
