Yesterday evening Bitcoin (BTC) incurred a massive amount of buying pressure that led its price to rally to fresh 2020 highs of $9,500 before it found some strong resistance that led to a slight retrace towards $9,300.
It is important to note that the cryptocurrency has been able to maintain above its previously established year-to-date highs of $9,200, which is a bullish sign that suggests this latest rally was more than just a fleeting surge.
Now, one analyst its noting that BTC is caught within a bullish technical pattern that statistically leads to major upwards movements, with a break above this pattern’s upper boundary potentially sparking the crypto’s next parabolic phase.
Bitcoin Rallies to Fresh 2020 Highs, and This Is Just the Beginning
At the time of writing, Bitcoin is trading up 4% at its current price of $9,360, which marks a massive climb from its daily lows of $8,900 that were set just prior to last night’s massive upswing.
Currently, BTC is trading just a hair below its intraday highs of $9,500 that were set at the peak of the rally, and it does appear that there is some significant resistance at this level.
Importantly, the cryptocurrency was able to close above $9,200 on its daily chart, which may validate multiple bullish technical formations.
“Positive volume flow, guppy flipping bullish, above the cloud with $BTC. Breaking 9200 is the magic number. Looks like we’ll get a kumo twist here soon as well in the near future. 1D Ichi on the 20, 60, 120, 30 settings has been pretty spot on with the twists,” Josh McGruff – a popular cryptocurrency analyst – explained in a tweet from just prior to the rally.
Positive volume flow, guppy flipping bullish, above the cloud with $BTC
Breaking 9200 is the magic number. Looks like we'll get a kumo twist here soon as well in the near future.
1D Ichi on the 20, 60, 120, 30 settings has been pretty spot on with the twists. pic.twitter.com/eN0oaUUus4
— Josh McGruff (@JoshMcGruff) January 28, 2020
This Massive Symmetrical Triangle Means Another Parabolic Rally is Imminent
The aforementioned bull-favoring technical formations aren’t the only things that could lead Bitcoin to see significantly further gains, as the crypto is currently trading within a multi-year symmetrical triangle – a formation that leads to upwards breakouts 60% of the time.
“Symmetrical triangles break upwards 60% of the time. That’s It,” Galaxy, another popular crypto analyst on Twitter, explained in a tweet while referencing the chart seen below.
Symmetrical triangles break upwards 60% of the time.
That's It. That's the Tweet.$BTC pic.twitter.com/qQu8Fd6SuZ
— Galaxy (@galaxyBTC) January 29, 2020
While keeping these multiple highly bullish factors in mind, it does appear to be growing increasingly likely that the bullish market structure Bitcoin has developed throughout 2020 will lead the crypto to see significantly further upwards momentum in months and years ahead.
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Bitcoin (BTC) and the altcoin markets incurred some notable momentum today, which comes as Bitcoin’s bulls extend the rally that first kicked off yesterday when the crypto made its way up to highs of $9,150.
Although XRP was one of the worst performing major altcoins in 2019, the crypto was able to incur some notable momentum throughout the past month that has allowed it to gain what appears to be a stable foothold within the $0.
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.
2020 has been a great year for Bitcoin, with its rally from its late-2019 lows of $6,400 altering the cryptocurrency’s market structure to greatly favor bulls, leading many investors to believe that these lows will mark a long-term bottom for BTC.
Bitcoin’s firm bout of sideways trading over the past few days has muddied the clarity that some analysts previously had about the strength of BTC’s recent uptrend, as some traders are now eyeing its recent highs of $9,200 as a mid-term top.
Ethereum has been able to begin gaining some tempered momentum following its recent drop to lows of $162, as ETH has now pushed its way back up towards the $170 region. Although the cryptocurrency is still trading down slightly from its recent highs of $177 that was set this past Saturday, its ability to hold […]
The post Ethereum’s consolidation trend may turn into a full-blown bull rally if it breaks this key level appeared first on CryptoSlate.
The crypto market is experiencing a green wave. Bitcoin might be in the red, hovering around $8,600 but is up just over 18% to date in 2020. The crypto market is currently testing the highs to see as Mati Greenspan, founder of Quantum Economics in his daily newsletter explains “if this rally has enough steam to […]
2020 has been a great year for Bitcoin (BTC) so far, with the cryptocurrency incurring massive momentum that has allowed it to rally from lows of $6,800 to highs of $8,900 before hitting any meaningful resistance.
It is beginning to look increasingly as though Bitcoin’s (BTC) recent rally from its early-January lows of $6,800 to its recent highs of $8,900 is much more than a fleeting relief pump. BTC bulls have been able to hold the crypto within the upper-$8,000 region for the past day, signaling that buyers currently have enough... The post appeared first on NewsBTC.
Ethereum and the aggregated crypto markets have rallied over the past 24-hours, catching the massive upwards tailwind created by Bitcoin’s surge to highs of $8,800. This rally has led ETH to climb into the $150 region as it outperforms BTC and many other major altcoins.
Contentious Bitcoin Cash hard fork Bitcoin SV (BSV) has surged over 25% percent in the past 24 hours. The cryptocurrency’s significant price increase has led to a parabolic rally which may result in all-time highs for BSV.
Controversial Bitcoin Cash hard fork – Bitcoin SV (BSV) – has been caught within a massive uptrend over the past several days, which has allowed its price to go on a parabolic rally that is leading it up towards its all-time highs.
Ethereum (ETH) has lost nearly all the momentum it had incurred over the past week, with its recent rally to highs of $148 being met with insurmountable resistance that has since forced it into a firm downtrend.
Bitcoin's price surged to seven-week highs on Tuesday, setting the stage for a momentum rally in the short term.
The post Bitcoin Blows Past $8,100 as New Accumulation Phase Begins appeared first on CCN.com
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.... The post appeared first on NewsBTC.
Bitcoin (BTC) bulls seem to be having quite the streak. For the third or fourth day in a row, the leading cryptocurrency has posted gains. As of the time of writing this, Bitcoin has broken to highs it hasn’t seen in two weeks, rallying as high as $7,580 just minutes ago.
Bitcoin ended 2019 with a bang, closing the year up nearly 100% from its January lows of under $4,000. Although the year was generally positive for BTC and most other cryptocurrencies, it is important to note that it is also down significantly from its 2019 highs of $13,800 that were set this past June.
The aftermath of Bitcoin’s recent rally up to highs of $7,500 – and subsequent rejection – has been grave for bulls, as BTC has been caught within a strong downtrend that is leading the cryptocurrency down to its key support region that exists around $7,000.
For the first time ever, the Nasdaq composite index broke through the 9,000 thresholds on Thursday. While Nasdaq snapped its 11-day winning streak, the longest streak since 1997, after showing some weakness, S&P 500 and the Dow made record closing highs as well.
Bitcoin has incurred multiple bouts of bullishness over the past several days and weeks, with each rally resulting in a strong rejection that leads the cryptocurrency to fully retrace its gains. This pattern occurred again today, when BTC surged to highs of nearly $7,500 before incurring a strong and swift rejection.
Shares of Boeing (NYSE:BA) power the Dow Jones Industrial Average to new all-time highs on Monday, as investors shrug off poor data.
The post Dow’s Absurd Rally Continues After Key Boeing Resignation Offsets Dismal Economic Data appeared first on CCN.com
The next Bitcoin parabolic rally may take prices as high as $141,173, based on logarithmic band analysis. But the trek to those highs may take a while testing various support levels. Bitcoin Price Prediction Based on Previous Bands Charted Forward Analysis by Benjamin Cowen based this prediction on a backward look at BTC performance so far, especially in relation to the halvings of the block reward.
The past four months saw Bitcoin volatility continue to rise, as prices moved between highs above $10,000 and lows near $6,500. But transaction levels also tell a story of sudden activity just before or during active rally phases.
Ether price needs to break above the long term descending trendline and stiff resistance at $150 in order to break the multi-week pattern of lower highs
Since Bitcoin hit its all-time high (ATH) in December 2017, cryptocurrency investors have been eagerly awaiting for a strong enough recovery to reach new highs. The momentum of the price rally in the summer is gone and investors look onward to the block reward halving for optimism.
Dow Jones pulled back from its record highs. Wall Street analysts believe the dip in the stock market will be short lived.
The post Why Key Wall Street Players Believe Dow Rally is Just Getting Started appeared first on CCN.com
Bitcoin has been facing intense volatility over the past month, which first began when it incurred an explosive rally that sent it from $7,300 to highs of $10,600. In the time since this occurred, BTC’s bears have been firmly in control, erasing nearly all of the gains that were produced in this rally.
Bitcoin is looking south after erasing three-quarters of the price rally seen in October. The bearish mood comes as the U.S. equities market is soaring in the opposite direction.
It has been a crazy past few weeks for Bitcoin, with the cryptocurrency’s price incurring an explosive rally that sent it surging from lows of $7,300 to highs of $10,600 before this momentum faltered and BTC began a slow grind down to its current price levels.
In late-October, Bitcoin incurred an explosive rally that sent its price from lows of $7,300 to highs of over $10,600. This price rally came just hours after the Chinese President made bullish comments on blockchain technology, which generated optimism that these comments would mark the start of a pivot away from the country’s predatory policies.
The Dow spiked to all-time highs because Wall Street is confident a trade deal is coming. However, that optimism has been put on hold. And sentiment could continue to worsen as new information emerges about China’s “reeducation” camps in Xinjiang.
Gold rallies to an intraday high of $1,475. 50/oz. Precious metals trade at more than one-week highs as risk appetite wanes. Serbia bought nine tons of gold in October to hedge against crisis. The price of gold extended its rally on Thursday, as waning risk appetite drove investors into the relative safety of precious metals.
10-year Treasury yield approaches 2% for the first time since July. The entire U. S. yield curve jumps double digits on Thursday. Stocks return to record highs on U. S. -China trade deal optimism.
The Dow, S&P 500, and Nasdaq all rose on Tuesday, putting them on track to close at fresh all-time highs. The US Stock market is basking in risk-on sentiment derived from reports that Trump will begin unraveling tariffs on Chinese imports.
Dow Jones Industrial Average (DJIA) futures popped 100 points on Monday. The US stock market rally continues after S&P 500 hit new record highs last week. Analysts hail the “start of a new bull market” and Fundstrat’s Tom Lee sees “fireworks” before Christmas.
Bitcoin (BTC) has been on a wild ride over the past several weeks, which first began when it incurred a meteoric rally that sent its price surging from lows of $7,300 to highs of $10,600 – a move that marked one of the largest single-day movements ever experienced by the cryptocurrency.
Bitcoin has inched higher overnight after facing a short bout of consolidation within the lower-$9,000 region. BTC still has a long way to go before it revisits its recent highs of $10,600 that were set at the peak of the recent rally.
Bitcoin and the aggregated crypto markets incurred an explosive rally yesterday evening that sent BTC’s price skyrocketing from lows of $7,400 to highs of well over $10,000, which marked one of the largest movements that the cryptocurrency has incurred in the past decade.
Bitcoin (BTC) has long been described as a movement to phase out institutions. But ironically, it is institutions that many cryptocurrency investors have claimed to rely on to boost Bitcoin to fresh all-time highs.
US stock index S&P 500 is moving towards new highs, and that can be a catalyst for another Bitcoin rally, says Thomas Lee, Head of Research at Fundstrat. Bitcoin to Benefit from Stock Market Confidence While the largest cryptocurrency has proven to have a low correlation with traditional markets, a stock market rally could add to the overall confidence of investors, and that might be a boost for Bitcoin as well.
Over the past 24 hours, Bitcoin and the broader cryptocurrency market have been crushed by bears. According to Coin360, the BTC price is trading at $8,500, 12% lower than the day prior. While the selling pressure has just begun, leaving much left uncertain in the charts, analysts are convinced that Bitcoin will only see more.
After a powerful parabolic rally in the second quarter of 2019, Bitcoin price is struggling to maintain the bullish momentum the crypto asset once had behind it and is currently consolidating in a tightening triangle formation.
Asian stocks advanced on Friday after an apparent thawing in U. S. -China trade tensions fueled investors' appetite for riskier assets. In the process, the Chinese yuan stabilized at three-week highs against the U.
Asian stocks advanced on Friday after an apparent thawing in U. S. -China trade tensions fueled investors’ appetite for riskier assets. In the process, the Chinese yuan stabilized at three-week highs against the U.
The Dow continued its rally to the brink of all-time highs on Thursday, as the ECB’s stimulus package raised expectations for the Federal Reserve to cut rates next week. Traders also mulled the possibility of Trump offering a trade war olive branch to China, adding to the bullish mood on Wall Street.
U. S. government bond yields extended their September rally on Wednesday, climbing to fresh monthly highs on better than expected data and Chinese trade optimism. Although bonds seem to be recovering, one analyst provided a sobering take on why investors should avoid buying them as a hedge against recession.
The stock market took a substantial step forward on Wednesday, bringing the Dow, S&P 500, and Nasdaq all closer to their all-time highs. Here are ten individual stocks headlining the market’s upward swing.
Bitcoin price has been pretty much trading sideways since it pushed past the psychological $10,000 barrier in June. Noted crypto bull and analyst Josh Rager called for a critical resistance level for BTC that month.
Gold prices may rally to its historic high in the next year or two, according to CitiGroup. The American multinational banking firm forecasted gold at $2,000 an ounce by the close of 2021's third quarter, citing a list of catalysts that may propel the price.
NodeOps, the decentralized infrastructure platform, has officially launched its Staking Hub — a feature designed to simplify participation in Proof-of-Stake (PoS) ecosystems and streamline reward generation for users.
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Nestled in the Himalayas between India and China, the Kingdom of Bhutan is charting an unconventional economic course, harnessing its abundant hydropower resources to mine “green” cryptocurrencies.
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MEXC celebrates 7 years as a Title Sponsor at TOKEN2049 Dubai. Over 36M users trust MEXC for simple, secure crypto trading. MEXC’s new DEX+ bridges CEX and DEX with 15K+ tokens. MEXC, a global leader in cryptocurrency exchange services, will proudly participate as one of the seven exclusive Title Sponsors at TOKEN2049 Dubai, taking place […]
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