Bitcoin has been able to incur some tempered gains today as buyers attempt to propel BTC back up to its local highs at $9,200. This momentum came about after a brief bout of intense selling pressure that led the crypto to as low as $8,200.
The strong bullish response to this level, coupled with an increasingly strong market structure, could signal that the 2020 rally is still in its early phases.
Further adding to this notion is the fact Bitcoin is currently sitting on a key technical level that could act as a “launching pad” for its near-term price action, potentially catalyzing the next major rally.
Bitcoin is Currently Sitting on a Launchpad; Time for Liftoff?
At the time of writing, Bitcoin is trading up nearly 4% at its current price of $8,750, which marks a notable climb from daily lows of $8,400 that were set yesterday prior to kicking off the uptrend that has led it to its current price levels.
In the near-term, the key resistance levels that analysts are keen on seeing BTC react to exist at $9,000 and $9,200, which is around the cryptocurrency’s local highs that were set last week.
One factor that should be considered in the near-term is the fact that Bitcoin’s monthly Bollinger Band is currently serving as a “launching pad” for the crypto – as noted by Polar Hunt, a crypto analyst on Twitter.
“Monthly middle BB as Bitcoins launching pad,” he said while pointing to the below chart.
Monthly middle BB as Bitcoins launching pad. pic.twitter.com/7iyUuCbvof
— Polar Hunt (@polar_hunt) January 27, 2020
BTC May Be Launched into a Firm Bull Market in the Coming Months
As for what this so-called launchpad means for Bitcoin, Dave the Wave – another popular crypto analyst on Twitter – explained in a tweet that BTC’s MACD signals that the cryptocurrency is about to enter a firm bull market.
“Well, aint that a sight for sore eyes – weekly MACD bullish cross, turned green on the histogram AND this time the MACD is high just below the zero line… about to enter official bull territory [positive],” he said while pointing to the chart seen below.
Well, aint that a sight for sore eyes – weekly MACD bullish cross, turned green on the histogram AND this time the MACD is high just below the zero line… about to enter official bull territory [positive]. pic.twitter.com/1XNr7dqKmE
— dave the wave (@davthewave) January 27, 2020
Although the cryptocurrency is still trading down from its recent highs of $9,200, its bullish response to its recent visit to $8,200 in addition to the multiple bull-favoring technical formations it is currently expressing, seem to point to the possibility that Bitcoin will soon see significantly further upside.
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As Bitcoin drops below $68,000, history suggests this correction is rather tame for bull markets, as plunges to this deep on-chain level have been the norm. Bitcoin Short-Term Holder Realized Price Is Currently Around $53,200 As pointed out by CryptoQuant Netherlands community manager Maartunn in a post on X, BTC still has a decent margin over the realized price of the short-term holders.
Bitcoin price extended its rally above the $43,200 resistance. BTC is now consolidating gains and might rally further toward the $45,000 zone. Bitcoin surged further above the $42,200 and $43,200 levels.
Bitcoin price is attempting a recovery wave above the $25,200 resistance. BTC must clear the 100 hourly SMA to continue higher in the near term. Bitcoin is slowly recovering higher above the $25,200 support.
Bitcoin price is struggling to clear the $28,200 resistance. BTC is again moving lower and might decline toward the $27,000 support zone. Bitcoin attempted an upside break above $28,200 but failed.
Bitcoin mining company, Riot Blockchain, revealed its plans to expand operations to Corsicana, Texas, which could light up to 200,000 homes.
The post Colorado-Based Bitcoin Mining Operation Expands Into Texas; Could Consume Enough Power to Light 200,000 Homes appeared first on BeInCrypto.
Bitcoin is showing positive signs above the $61,200 support against the US Dollar. BTC could start a fresh rally if it clears the $62,200 resistance zone. Bitcoin is trading in a positive zone above the $60,000 and $61,200 levels.
Bitcoin price is still struggling to gain bullish momentum above $11,500 against the US Dollar. BTC could start a major downside correction if it breaks $11,200 and the 100 hourly SMA. Bitcoin is struggling to settle above the $11,500 and $11,520 resistance levels.
Bitcoin price started a decent recovery wave above the $10,200 resistance against the US Dollar. BTC is still struggling near $10,500, but dips are likely to remain supported near $10,200. Bitcoin is currently correcting lower from the $10,500 resistance zone.
Bitcoin’s price fell slightly during the weekend from $9,200 to a brief $8,800. Now, it is back to $9,200. This is becoming a common occurrence and one good guess would...
In the end, it seems that Bitcoin’s halving didn’t have any significant impact on its price on the day of the event, although it’s clear it had some effect through the previous weeks. Bitcoin is currently trading above $9,200 after recovering from the abrupt crash 3 days ago.
Bitcoin seems to be getting alive on charts and is posting a slight increase, so traders are expecting it to soar towards $7,200 if it holds the current level
Bitcoin is up more than 4% and it broke the key $6,500 resistance area against the US Dollar. BTC price is forming a solid bullish trend and it could soon rally towards $7,000 or $7,200. Bitcoin started a fresh increase after testing the $6,200 support area against the US Dollar. The price is up close...
In a way, volatility is what makes cryptocurrencies, cryptocurrencies. However, Bitcoin's recent collapse of $1,200 came as a shock to most people as liquidations poured in. That being said, the collaThe post Bitcoin's $1,200 drop could have more bearish implications than anticipated appeared first on AMBCrypto.
Bitcoin investors were taken aback to witness Bitcoin’s massive flash crash today, which led the benchmark cryptocurrency to plummet from $10,200 to lows of $9,200 in a mere matter of minutes, with its sudden downturn leading the aggregated crypto market to follow suit.
Over the past few days, Bitcoin (BTC) has stalled, finding itself between a rock and a hard place. Many analysts are currently undecided where the cryptocurrency will go in the next few weeks, though one top trader recently noted that BTC’s price action at $9,200 could be a precursor to more downside.
Bitcoin price is confined in a range below the key $8,200 resistance against the US Dollar, suggesting a short term accumulation phase. BTC could either rally above $8,200 or it might dip to $7,700 before a decent bounce.
Wow. After plunging by 3. 5% to $6,850, Bitcoin (BTC) mounted a strong comeback over recent minutes. TradingView indicates that over the past hour, the cryptocurrency has surged some $400, or 6%, tapping $7,250 before retreating to $7,200, which is where the price of Bitcoin is attempting to stabilize now.
This year’s Halloween has been a crazy one for Bitcoin. While the Birthday Boy celebrated the 11th year of its existence, it had a pretty wild whirlwind romance with the price as well. As Bitcoin Exchange Guide reported, infamous 4chan who called out Bitcoin’s drop to $3,200 at the bottom in January and further correctly […]
Bitcoin has suddenly jumped by $500, up from circa $8,200 to a recent high of $8,700 to currently trade at $8,600 at the time of writing. The rise was on...
The post Bitcoin Jumps on High Volumes, Ethereum Nears $200 appeared first on Trustnodes.
Bitcoin has prolonged its bout of sideways around its key near-term support level at $8,200 and has continued showing some signs of underlying bearishness as BTC’s bulls fail to push it higher in the near-term.
What’s Next For Bitcoin? Bitcoin (BTC) has continued to slip into Friday, falling to $11,200 as of the time of writing this. While the selling momentum has undoubtedly slowed, with bulls managing to push back.
Current Bitcoin Chart Looks Like The $3,200 Bottom Inversed After days of inaction, Bitcoin (BTC) bears have finally shown their hand. In the past 24 hours, the leading cryptocurrency has shed around 2%, falling from a multi-day.
Now that Bitcoin has seemingly found its groove again, there is a good chance the remainder of the day will yield positive momentum. Whether or not further gains will be realized, is difficult to predict as anything remains possible under these circumstances.
On April 1, the bitcoin price initiated a large 19 percent rally from $4,200 to $5,000, peaking at $5,300 the next day across several major crypto exchanges. The rapid upside movement of bitcoin, which occurred in minutes, is said to have been triggered by two major factors.
The last two days have been nothing but a dream come true for Bitcoin (BTC) holders and backers. Starting from Tuesday, Bitcoin has surged from a little over $4,000 to hit a high of $5,200 early today.
We are currently in the longest bear market ever after Bitcoin hit $20,000 in December 2017. Since then, Bitcoin has been constantly moving down seeing the low of $3,200 in December 2018. We have yet to see a bull rally as Bitcoin hasn't been able to move above the $4,200 level, being stuck in the […]
At press time, the father of crypto is trading for just over $6,300. This is about $200 higher than where it stood 24 hours ago. Previously, the currency was trading at the $6,100 mark – a drop of over $1,000 from where it was at the beginning of the week.
At press time, the largest cryptocurrency by market cap remains at $7,200, where it has been for nearly 72 hours. However, the price has bumped itself up just enough that $7,300 is likely right around the corner granted bitcoin can keep up this momentum.
At press time, the father of cryptocurrency is trading for over $7,100. This is about $200 higher than where it stood just yesterday afternoon. One source suggests that bitcoin is still trapped in a selling rally, but that it’s enjoying a day of relief before the bears enter the fray once again. The currency has […]
Bitcoin after struggling all throughout the weekend has come out on Monday with some real hard punches. Before struggling with the $6,200 price drag that began on Thursday of last week, bitcoin has been steadily hanging around $6,300 for the last couple of weeks until the fateful Thursday when it got a sucker punch that […]
The post The Land is Green : Bitcoin Punches Back From $6,200 To Hit $6,600 appeared first on ZyCrypto.
At press time, the father of cryptocurrencies has incurred a $200 rise and is now trading for roughly $6,300. This marks some good news for investors and traders, who up to this point, have probably lost some serious cash after bitcoin fell by over $1,500 in just the last two weeks. In early June, the […]
Tim Draper, famed Billionaire and venture capitalist has spoken out very recently, according to a support by CCN that suggests Bitcoin will climb to $250,000. 00 by 2022.
This comes in the wake of a market downturn that has worried many investors.
In continuing our analysis of the Cryptocurrency Predictions for June 2018 report by Finder, we turn to the team’s predictions for Litecoin.
We have recently reported that by Finders calculations, Bitcoin will only just breach $14,000.
Bitcoin (BTC) is currently trading around $6,400 and will now complete either of two most likely scenarios. Scenario A will be a Bitcoin (BTC) short squeeze as market makers force bears to cover their shorts resulting in the price surging past $7,200 in a matter of hours.
South Korean cryptocurrency exchange Coinrail reported a hack on its website during the early morning hours of June 10, 2018. The thieves allegedly made off with over $40 million worth of altcoins and assorted tokens.
Shopin — a universal shopper profile that delivers personal shopping experiences through retailers’ apps, websites and stores — says one of its token distributors has been hacked and roughly $10 million in a variety of cryptocurrencies has been stolen.
Ethereum (ETH) developers are set to launch Hoodi, a new long-lived testnet, on March 17 as they work to resolve ongoing challenges with the highly anticipated Pectra upgrade. The testnet will primarily focus on validator exit mechanisms, one of the final hurdles before Pectra can move forward.
After weathering a post-airdrop slump, the RedStone coin price has staged an impressive recovery, captivating the cryptocurrency market with its upward trajectory. The RED cryptocurrency, native to the RedStone Oracle network, has surged in value, with CoinMarketCap data showing that the token witnessed a remarkable 28.
Pi Network (PI)’s is up +20% in the last 24 hours, hitting highs of $1. 74. While PI price remains 44% off its peak of $2. 99, buyers may push the token higher. Potential catalysts and which could catapult PI up include upcoming Pi Day and possible Binance listing.
zondacrypto enters the Swiss market with a strong impact, expanding its sports sponsorship portfolio to a new discipline – ice hockey. The leading cryptocurrency exchange in Central and Eastern Europe has become a partner of HC Davos, the 31-time Swiss champion, as well as the title sponsor of the club’s hockey arena, which is now […]
The post HC Davos ice stadium officially becomes zondacrypto Arena appeared first on CoinJournal.
Bitcoin’s price movement recently has underscored the importance of the short-term holder (STH) cost basis as a key momentum indicator. It has emerged as a vital threshold for the sentiment of this market.
Base network observed an exceptional day on March 10, reaching fresh heights in both token creation and trading volume. The number of tokens created on that day—2,023—by the prolific token creator Clanker, was not only a single-day record for Clanker but was also the highest total ever seen in Base network history for a day’s [...]
Offchain Labs, the R&D team behind the Arbitrum Layer-2 scaling solution, announced it will begin buying ARB tokens, reinforcing its long-term commitment to the Arbitrum ecosystem. The purchases will be made in a non-disruptive way in the open market, and will use a structured trading approach, with specific parameters, to ensure the way the trading [...]
