Bitcoin’s price action over the past few weeks has been deemed “boring” by most traders.
As the chart below shows, the leading cryptocurrency has been caught in a tight consolidation pattern.
Since the start of May, Bitcoin has barely deviated from $8,000-10,000. Only twice did the cryptocurrency move out of this range, though those moves saw quick rejections at crucial resistances.
Chart of BTC’s price action over the past ~two months from TradingView.com
Crucial market indicators, however, suggest that a bullish breakout is near.
This shift in sentiment comes after Bitcoin briefly touched $9,800 during Monday’s trading session, the highest price in over a week.
A Crucial Bitcoin Signal Is About to Appear
As noted by cryptocurrency trader Joe McCann, a crucial Bitcoin signal is about to appear.
The AI/Cloud specialist at Microsoft noted on June 22nd that the Moving Average Convergence Divergence (MACD) is about to see a bullish crossover. The MACD “is designed to reveal changes in the strength, direction, momentum, and duration of a trend in a stock’s price,” according to Wikipedia.
The MACD is important as it has historically predicted Bitcoin’s medium-term trends.
Three days after BTC hit $10,500 in February of this year, the MACD saw a bearish crossover. What followed was the correction to $3,700.
And shortly after Bitcoin began its relief recovery after March’s crash, the indicator printed a bullish crossover. What followed was a more than 50% rally from the $5,000s to $9,000s.
Chart of BTC’s price action over the past four months with the MACD indicator from TradingView.com
The signal has not yet appeared but considering that BTC is pushing resistances, it could happen by the end of the week.
And considering the historical precedent of this sign, a strong rally may follow.
Not the Only Thing Supporting the Bull Case
The imminent bullish crossover is not the only market factor supporting Bitcoin bulls.
According to analyst Adam Li, the order books of two leading exchanges are flashing two bullish signals:
A Binance sell wall around ~$9,450 was pulled by the seller, giving Bitcoin room to rally to the upside with minimal resistance.
Users of OKEx have begun to build a block of buy orders around $9,500. This buy wall, which is amounting to hundreds of BTC, should support Bitcoin should it snap back to that level.
$BTC
Guess who's back, back again? OKEX is back, tell a friend.
('Nance spot wall pulled). pic.twitter.com/DB7FB7qFO2
— Adam Li (@realadamli) June 22, 2020
Order book data is crucial in understanding the trend of Bitcoin because it shows the aggregate sentiment of traders.
For instance, prior to Bitcoin topping at $10,500 at the start of June, a sell wall appeared on Bitfinex at that level. And prior to BTC rallying from the $6,000-7,000s to the $9,000s in April, a buy wall appeared on Bitfinex, bolstering prices.
Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Chart from TradingView.com
When Bitcoin Printed This Signal in March, Price Rallied 50% in Weeks origin »
BTC's non-empty wallets have hit a 5-month low, reflecting retail traders' growing concerns amid market volatility.
Large Bitcoin holders continued to accumulate, signaling potential bullish seThe post Bitcoin wallets hit a 5-month low as small traders exit – Are whales buying the dip? appeared first on AMBCrypto.
Many crypto investors are worried about Bitcoin’s uncertainty as the cryptocurrency experienced fluctuations in its price wherein traders saw it being traded above $100,000 and then went down below $90,000.
Bitcoin (BTC) is experiencing its first seven-day decline in eight weeks, prompted by hawkish signals from the US Federal Reserve (Fed) that have led traders to sell off the asset, which has more than doubled in value this year.
Bitcoin has achieved a historic milestone by surpassing the $100,000 mark, captivating the attention of traders worldwide. Understanding the market dynamics behind this surge is crucial for traders looking to optimize their strategies.
Market fluctuations have many investors and traders guessing about the next Bitcoin bull run. Recently, we have witnessed Bitcoin resurgence, climbing above $64,800, to the excitement of traders.
It’s been one of those weeks to forget for crypto traders. I’ve been talking with many veteran traders in the past few days, and hardly any of them are in profits this week. Reason? Well, Bitcoin plunged 10% and is now trading below the $61k area.
The crypto market is currently buzzing with anticipation as Bitcoin options traders position themselves for what they foresee as a “substantial price rally” in September. Particularly, the derivatives market is expressing confidence, with a significant number of traders betting on Bitcoin surpassing the $100,000 mark.
The bullish flow is reminiscent of the 2020-2021 bull market when traders consistently snapped up bitcoin calls at levels well above the going market rate.
Interest in Bitcoin ETFs continued to grow even as BTC's price remained stagnant.
Traders maintained a bullish perspective despite uncertainty.
Bitcoin [BTC] has been swinging between the $4The post Bitcoin: All about ETFs, traders' sentiments, and static prices appeared first on AMBCrypto.
Bitcoin price has turned bearish this week, declining 3% over the past 7 days while Ethereum has rallied 3% in the same timeframe. As the crypto community analyzes the shifting trends, influential traders and analysts are voicing increasingly negative outlooks on Bitcoin in the near-term.
The total amount of liquidations on the crypto market over the past 24 hours exceeded $300 million. Most forcedly closed positions were in Bitcoin (BTC) and Ether (ETH). The sharp Bitcoin price collapse to $35,000 cost the traders $121 million.…
The Bitcoin price has fallen steeply between the 7th and the 22nd of August 2023. Are traders worried? In this post we check the pulse of several top traders and look at both the reasons for the fall - and where to next for BTC.
The traders' discussion about Bitcoin was at a healthy level.
Liquidity flowing into the futures market has been relatively modest.
For the past few weeks, Bitcoin [BTC] has been trading aroThe post Greed or fear? Here's where Bitcoin traders have pitched their tent appeared first on AMBCrypto.
Bitcoin Breaks Through $31K Resistance Again as Traders Anticipate Positive Momentum Bitcoin (BTC) made another significant move towards the $31,000 mark, with traders expecting further upside potential in the days ahead.
Amid an ongoing banking crisis, Bitcoin has surged past $28,000, driven largely by investors and traders hoping for a pause or reversal in Federal Reserve interest rate hikes
Part of what is so special about Bitcoin is the fact that is it inclusive to all, and never in the past required the participation of “smart money” and institutional traders. But to become a multi-trillion dollar asset as it is destined to, bigger players had to get involved to take things to the next level.
The bull market, market sentiment, speculations, institutional buying, all these factors have inadvertently defined Bitcoin's rise over the past few weeks. They form an integral part of the industry tThe post The fair value of Bitcoin is not what traders would expect appeared first on AMBCrypto.
The crypto-market has been quite unstable over the past week. In fact, Bitcoin's correction phase and its corresponding downtrend managed to trigger the price of the altcoins as well. The global cryptThe post As 'fundamentals of Bitcoin remain' unchanged, which way do traders move? appeared first on AMBCrypto.
The term 'panic sell' has become common to crypto investors in 2021. Bitcoin, the industry's largest asset, has registered different ATHs this year but during each major correction in 2021, panic sellThe post How understanding this part of Bitcoin's cycle is vital for Ethereum, Cardano and other alt traders appeared first on AMBCrypto.
With Bitcoin's price back under $60000, and increased investment inflow to altcoins and top DeFi tokens. It may be the best time for retail traders to direct their investment to HODLing Bitcoin in theThe post Traders can make 25% on Bitcoin remaining market neutral, here's how appeared first on AMBCrypto.
Bitcoin's credential as a long-term asset isn't really up for debate. 2021 to date has proved to be a year of multiple ATHs for the world's largest cryptocurrency. Despite its recent price correction The post Bitcoin newbies and pros: How these traders are viewing bitcoin appeared first on AMBCrypto.
The thing about Bitcoin is that it’s more than just a trend. Throughout the years it has spread its influence and it much more popular today. Hence the number of Bitcoin traders. So, it’s not surprising if you’re looking to join their ranks.
Bitcoin's recent price action and the increasing pace of institutional adoption suggest that traders betting on the June $80,000 Bitcoin call option will be handsomely rewarded.
The past 48 hours have been extremely chaotic for Bitcoin. After climbing to a high of $58,354 on 21 February, the world's largest cryptocurrency fell to trade at $47,400 on the price charts.
At thThe post Bitcoin under $50k: Here's the best option for traders right now appeared first on AMBCrypto.
Bitcoin registered a strong surge in price over the last few days, with the world's largest crypto finally surpassing its $11k resistance to be valued at $11,363, at press time. However, the altcoin mThe post Bitcoin effect: Here's what a lot of traders are doing appeared first on AMBCrypto.
MicroStrategy’s $500M investment in Bitcoin, now its primary asset reserve, has consistently made the headlines for over a week. Significantly, this move was viewed as an indicator of institutional The post Bitcoin retail traders have a lot to lose if this happens appeared first on AMBCrypto.
Bitcoin’s on-chain fundamentals grew stronger post its second halving in 2016. However, while most traders have historically been focused on the world's largest cryptocurrency's price action, there The post Lessons for Traders 101 - 2020's Bitcoin isn't 2017's Bitcoin appeared first on AMBCrypto.
Bitcoin trading is not for the faint of heart. Traders in the cryptocurrency market have to contend with $1,000 hourly movements, while negotiating an array of exchanges to arbitrage, many of which puThe post Bitcoin's lack of movement is revealing traders' panic appeared first on AMBCrypto.
Ever since the Bitcoin halving, traders have been even more hopeful for BTC's price to rise. Many analysts noted that the impact of the halving will not be visible on the BTC market right away as mineThe post Bitcoin Options over $1bn expiration does not comfort traders appeared first on AMBCrypto.
After falling below $9,000, Bitcoin is back to hovering around $9,500. The leading cryptocurrency has been trading in this range since early May and continues still but on low volume. The Commitment of Traders (COT) report doesn’t paint a good picture with CME Dealers net short, the bias actually increased by 35% last week, the […]
2020 brought along many new traders to the crypto-industry due to the economic instability in the traditional market. The entry of these traders gave new meaning to Bitcoin's halving, with the speculaThe post Bitcoin miners may trigger sell-offs soon appeared first on AMBCrypto.
Since plunging as low as $8,600 earlier this week, Bitcoin has mounted a strong comeback that took prices as high as $9,900 on June 4th and 5th. The more than 10% bounce has convinced many traders of the bull case, hence why funding on futures exchanges remains positive, showing longs are more aggressive than shorts....
The king crypto has reached the $7,900 area, flipping the resistance; now traders are setting higher goals for Bitcoin, which include $9,000 and $13,000
Short Description: The COVID-19 pandemic has caused traders to turn away from risky cryptocurrencies like Bitcoin to traditional assets like stocks, oil, and more. With a recession on the way, and theThe post Turning to Traditional Assets: COVID-19 and the Impact on Bitcoin Traders appeared first on AMBCrypto.
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.