At the turn of the month, analysts were quick to check Bitcoin’s charts, checking if any of their indicators signaled that bears remained in control of the cryptocurrency market. Unfortunately for bulls, indicators did.
Per previous reports from NewsBTC, November’s monthly candle close resulted in the Moving Average Convergence Divergence (MACD) — which is a “trend-following momentum indicator that shows the relationship between two moving averages of a security’s price” — crossing bearish for the first time since May of 2018, prior to Bitcoin’s extended bearish move from the $10,000s to the $3,000.
The monthly MACD on #bitcoin just had a bearish cross.
Yikes. pic.twitter.com/kOB65aOAq3
— Byzantine General (@ByzGeneral) December 1, 2019
Despite this, a prominent trader is not worried, claiming that the nature of the MACD suggests that a bottom is near, meaning that more downside, while not impossible, is limited at best.
Related Reading: Why a Fund Manager Thinks Bitcoin Will Rally 25% to $9,000 In One Month
Don’t Worry About the One-Month MACD Reading for Bitcoin
Dave the Wave — a prominent pseudonymous trader that called the Bitcoin decline to the $6,000s over four months ago, when BTC was trading in the $10,000s — recently published a TradingView post about the bearish MACD reading on Bitcoin’s monthly chart, asserting that investors shouldn’t be worried about the crossover that just took place.
BTC Monthly MACD – Worried? You Shouldn't Be – #BLX TradingView https://t.co/ibZ3PMOc3P
— dave the wave (@davthewave) December 29, 2019
Aiming to calm the fears about the technical signal, Dave wrote that in the previous price cycle, “even as price bottomed, the monthly MACD continued to decline for a full 8 months.”
The analyst attributed this odd-on-the-surface trend to the fact that the MACD is a trend-following indicator, not a “leading indicator in predicting price [will] head down further.”
With this in mind, he remarked that the MACD is signaling the bottom is at least near, if not in already.
Related Reading: Federal Reserve’s Record $235 Billion Repo Intervention Validates Bitcoin
While Dave didn’t divulge his price projections in the aforementioned TradingView post, the prominent analyst is notably starting to flip bullish on Bitcoin.
Per previous reports from NewsBTC, Dave wrote that he expects for the one-week MACD to see a bullish crossover early next year:
“Weekly MACD shaping up to re-cross bullishly soon to confirm the continuation of the next cycle,” the popular trader wrote.
Bullish MACD readings on Bitcoin’s one-week chart marked the start of previous bull runs, including the miniaturized one seen from March of this year to July.
This comes shortly after he remarked that his price target’s for the cryptocurrency market’s de-facto “M1, M2, and M3” readings have recently hit his retracement targets: M1, Bitcoin’s market cap, has seen a 50% retracement; M2, the total market cap, a 61% retracement; and M3, the altcoin market cap, a 78% retracement.
Related Reading: Prominent Gold Bull Thinks the Next Recession Will Be Brutal; Bullish for Bitcoin?
Featured Image from Shutterstock The post appeared first on NewsBTC. origin »
Bitcoin (BTC) is trading below $100,000 amid growing bearish pressure. Indicators show potential for a reversal if key resistance breaks.
The post Bitcoin (BTC) Suffers After Bybit Hack, But Indicators Suggest a Rebound appeared first on BeInCrypto.
Bitcoin has been on a downtrend recently and although it has had multiple recoveries, it is still a long way off from its all-time high. There are a number of indicators that point towards bullish and bearish trends, but mainly seem to stand in the middle.
Bitcoin, the world's largest cryptocurrency, continues to trade below $40k, with many suggesting that the crypto-winter is finally here. In fact, some analysts expect crypto-volatility to remain elevaThe post Bitcoin: What these indicators say about a possible bullish scenario in the near term appeared first on AMBCrypto.
In this article, BeInCrypto analyzes the effects of the bitcoin (BTC) miner migration and takes a look at other mining indicators, such as the difficulty ribbon compression and hash ribbon.
The post Mining Indicators Suggest Bull Rally Just Beginning — Bitcoin (BTC) On-Chain Analysis appeared first on BeInCrypto.
As the bull rally continues, some Bitcoin technical indicators may suggest the biggest BTC buy signal since April 2020 is here. Bitcoin Closes Above 21 Week MA And 200 Day MA As pointed out by a CryptoQuant post, the cryptocurrency has made a weekly close above the 21-week and 200-day moving averages (MAs).
Despite Bitcoin’s current price stagnation, on-chain indicators favor the bulls, with most holders remaining unphased by market volatility. Bitcoin’s Ambiguous Technical Indicators The technical outlook for the flagship cryptocurrency remains...
The post Bitcoin’s On-Chain Indicators Flash Buy Despite Price Stagnation appeared first on Crypto Briefing.
Some of the most popular analysts in the crypto space have differing opinions about Bitcoin’s future price action. This technical analysis will examine whether BTC will drop again or if the bull rally will continue.
Although the longer-term indicators point to the beginning of a bullish trend that could take BTC to new all-time highs, the shorter-term timeframes indicate a Bitcoin correction is overdue. Since the low of December 2018 when Bitcoin was trading at $3,130, BTC experienced a strong upswing that has taken its price to almost $14,000, leading investors to believe […]
The post Indicators showing Bitcoin’s uptrend could be interrupted by a major correction appeared first on CryptoSlate.
The price of Bitcoin, the top valued cryptocurrency is expected to take a bullish move soon. This is based on the revelation of key indicators and historical records. The Value Of Bitcoin and Its Influence The value of the top cryptocurrency has taken a bearish trend since the beginning of the year.
Bitcoin Cash Price Key Highlights Bitcoin Cash also formed a double bottom reversal pattern and appears to be inching past the neckline. In that case, this could confirm that bulls are back in the game and ready to take price much higher from here.
Bitcoin Price Key Highlights Bitcoin price finally broke above the neckline of its inverse head and shoulders pattern to signal that a rally is underway. The chart pattern is around $1,000 tall so the uptrend has room to go, but a pullback might take place.
Bitcoin Price Key Highlights Bitcoin price has completed its inverse head and shoulders reversal pattern and is now awaiting confirmation. Price is testing the neckline at $6,800 and an upside break could spur a $1,000 climb.
Bitcoin (BTC) is at the end of the line. From this point onwards, it will have to break out of the triangle, be it to the upside or to the downside. The most likely scenario, considering all technical as well as fundamental indicators is that Bitcoin (BTC) will break out to the upside.
Bitcoin Price Key Highlights Bitcoin price has broken below that near-term area of interest and is setting its sights on the next support zone. Price could fall to the very bottom of its range visible on longer-term charts, where buyers may be waiting.
Bitcoin Price Key Highlights Bitcoin price is still inside its short-term ascending channel but is on its way to test support. If the near-term floor holds, the Fibonacci extension tool on this pullback shows the potential upside targets.
Coinlib. io offers the necessary information the average cryptocurrency user would want to access in a user-friendly and intuitive way. Aside from that, it also provides advanced graphs and metrics that range from community engagement/developers activity to performance indicators and technical analysis tools.
Bitcoin Price Key Highlights Bitcoin price has formed higher lows and found resistance at the $6,785 level to create an ascending triangle. Price is testing the pattern’s resistance, which lines up with the broken long-term support visible on the 4-hour chart.
Bitcoin Price Key Highlights Bitcoin price has formed higher lows and found resistance at the $6,785 level to create an ascending triangle. Price is testing the pattern’s resistance, which lines up with the broken long-term support visible on the 4-hour chart.
Bitcoin Price Key Highlights Bitcoin price continues to consolidate inside its rising wedge formation visible on the 1-hour chart. Price has bounced off support to test the resistance and is now back to the bottom once more.
Bitcoin has recovered nearly 13% after scraping its knees on a new 2018 low, but is the current uptick in momentum just a relief rally or the makings of a bullish reversal? The general outlook for Bitcoin remains overwhelmingly bearish as the cryptocurrency is roughly 70% down from it’s all-time-high and most long-term indicators remain
Bitcoin Price Key Highlights Bitcoin price is in a slow but steady climb inside an ascending channel on the 1-hour time frame. Price is currently testing the resistance and might be due for a correction to the bottom or at least the middle.
Bitcoin Price Key Highlights Bitcoin price has broken above the double bottom neckline and bullish flag to signal upside momentum. Price is forming another bullish flag pattern, which might signal a continuation of the climb.
Bitcoin Price Key Highlights Bitcoin price staged a rally sharp enough to break past the falling trend line on the 4-hour chart. In addition, a small double bottom has formed on this same time frame to signal that an uptrend is underway.
Bitcoin Price Key Highlights Bitcoin price was previously consolidating in an ascending triangle pattern before breaking lower. This suggests that further losses are in the cards, especially as a small bearish flag is forming.
The era of institutional investment looms over the global cryptocurrency markets, as market indicators plummet, while SEC is clearing up uncertainties over the future of Bitcoin and Ethereum. After a successful first year of operations, Token-as-a-Service (TaaS) is expanding into an investment vehicle for blockchain wealth called TAAS Capital Fund, aiming to provide an unrivaled […]
Experts all across the board have been concluding that more than technical analysis, social sentiment is one of the most powerful indicators of crypto market price, and while it may be an obvious theory, it has finally been proven.
Bitcoin Price Key Highlights Bitcoin price could be forming a short-term inverse head and shoulders pattern. Price has been moving sideways for the past few days as bulls try to keep it afloat. Technical indicators, however, seem to be favoring further declines in bitcoin price.
Bitcoin Price Key Highlights Bitcoin price is finding resistance at the short-term descending trend line and area of interest. If the downtrend resumes, bitcoin could tumble to the Fibonacci extension levels next.
Bitcoin Price Key Highlights Bitcoin price looks ready to resume the slide after hitting the resistance at the descending channel. This lines up with the Fib retracement levels, adding strength to the ceiling.
Bitcoin Price Key Highlights Bitcoin price has formed lower highs and lower lows to trade inside a descending channel on its 1-hour chart. Price is testing support and a bounce could take it back up to the resistance or the Fibonacci retracement levels.
Bitcoin Price Key Highlights Bitcoin is still inside its descending triangle visible on the daily chart. Price is testing support and is approaching the peak of the formation to signal an imminent breakout.
Стоимость акций американской компании-разработчика программного обеспечения MicroStrategy выросла с августа 2020 года по август 2024-го примерно на 1000%, что в полтора раза выше доходности биткоина и в 16,25 раза выше доходности биржевого индекса S&P 500 за тот же период.
Notcoin astonished investors with a remarkable 65% surge last week. The impressive gain raises questions about its future price movements. This article analyzes its potential price trajectories for the upcoming week.
BONK retraced to $0.00002150, just shy of our recommended entry range of $0.000020-$0.000021. While the exact target of $0.000021 was not hit, the price did get very close to the predicted range by reaching $0.0000215. If traders entered the position…
В среду, 13 марта, курс эфира обновил недавние рекордные показатели, достигнув впервые с 2021 года отметки $4083. Актив демонстрирует рост в преддверии обновления Dencun, которое должно удешевить стоимость транзакций в сети.
Вторая по капитализации криптовалюта возвращается к новым историческим максимумам на фоне роста инвестиционной активности вложений в ETF на биткоин и спекуляций по поводу скорого запуска ETF на эфир.
Генеральный директор FTX сказал, что изучает возможность возрождения торговой площадки — в качестве одного из возможных вариантов реструктуризации компании и возврата средств клиентов.
