Bitcoin is About to Form a Pivotal Buy Signal Last Seen in Late July

Bitcoin is About to Form a Pivotal Buy Signal Last Seen in Late July
фото показано с : newsbtc.com

2020-10-15 02:33

Bitcoin has seen a strong rally over the past few days after weeks of consolidation. The leading cryptocurrency has gained around $1,000 from last week’s lows near $10,400.

This rally has allowed the technical case for further upside to continue to build. One crypto-asset analyst recently noted that Bitcoin is about to form a pivotal buying signal that was last seen in late July, in the midst of the strong uptrend that took the asset as high as $12,500. Should history repeat, Bitcoin should continue to ascend in the days and weeks ahead.

Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Bitcoin Ichimoku Cloud Shows Reasons to Be Bullish

Josh Olszewicz, a crypto-asset analyst, recently shared the chart below. It shows that the cryptocurrency’s one-day Ichimoku Cloud is about to see a TK Cross, when the line in blue crosses above the line in red. The Ichimoku Cloud is a popular technical indicator that shows crucial technical levels and the overall market trend.

The last time this bullish signal was seen for Bitcoin was in late July, amid the vertical surge from the $9,000s to $11,000. BTC continued to rally after this signal formed, suggesting the cryptocurrency will do so now.

The signal may not confirm for a few more days, depending on how the price action transpires in the days ahead for Bitcoin.

Chart of BTC's price action since the start of April with an Ichimoku Cloud analysis by crypto trader Josh Olszewicz (@Carpenoctum on Twitter). Source: BTCUSD from TradingView.com Related Reading: Tyler Winklevoss: A “Tsunami” of Capital Is Coming For Bitcoin Short-Term Outlook Weak

While Bitcoin is facing down a crucial buy signal, the short-term outlook is weak.

One crypto-asset trader recently shared the chart below. The chart suggests that there is quite a confluence of trends that show a market pullback in the price of Bitcoin will transpire in the coming days.

The chart shows that Bitcoin has formed a “Sell 9” candle just recently as per the Tom Demark Sequential, indicating an imminent bearish reversal. The same crypto-asset trader added that Bitcoin has formed key bearish divergences on its four-hour chart. The divergence has formed between the Bitcoin price and the four-hour RSI and MACD.

Chart of BTC's price action since the end of August with analysis by crypto trader CryptoHamster (@Cryptohamsterio on Twitter). Source: BTCUSD from TradingView.com Related Reading: 3 BTC On-Chain Trends Show a Macro Bull Market Is Brewing Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Bitcoin is About to Form a Pivotal Buy Signal Last Seen in Late July

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Rally (RALLY) на Currencies.ru

$ 0.0004604 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0.0004604 - H: $0.0004604
Капитализация $0 Rank 3603
Доступно / Всего 0 RALLY

bitcoin seen rally near lows around week

Источник: newsbtc.com

bitcoin seen → Результатов: 126


Bitcoin Creates Strong Tailwind as Traders Rotate Capital into Altcoins

Bitcoin’s price has begun consolidating following its immense surge seen throughout the past 48 hours Yesterday afternoon, it rallied as high as $13,200 before it found any strong resistance that forced it lower Unlike the trend seen during fleeting upsurges, Bitcoin did not retrace that far into its recent rally following the rejection at these highs This indicates that bulls are in control of the asset at the moment and may indicate that further upside […]

2020-10-23 02:00


Фото:

Hester Peirce Tells The SEC To Back Off From Bitcoin

Hester Peirce, Head Commissioner at the SEC, now known as ‘Crypto Mom’ has again spoken out against the SEC’s aggressive stance on Bitcoin. Peirce is well known for her bullish stance on cryptocurrency and is often seen as the one remaining glint of hope within the SECs structure, an organisation that looks to be taking a very negative stance on cryptocurrencies.

2018-9-19 20:00


Фото:

Premier League Football Continues To Lend Itself To Bitcoin Adoption

There’s a big trend in Premier League football at the moment that seems to be bringing in big interest in cryptocurrency and blockchain based sponsorships in football. London based Arsenal seemed to be the first to reach such an agreement and since then, we have seen cryptocurrency related sponsorships open up within a range of other top-flight football clubs, including Tottenham Hotspur and Leicester City with their new eToro sponsorships (among other clubs).

2018-9-17 14:30


Berkeley Professor Questions Stablecoin Viability in Unflattering Op-Ed

University of Berkeley Professor Barry Eichengreen has taken a swipe at the viability of stablecoins in an op-ed published on Project Syndicate. The critique, entitled “The Stable-Coin Myth,” argues stablecoins are not automatically "viable" just because they are pegged to an asset, though Eichengreen does believe they have an advantage over "conventional cryptocurrencies" such as bitcoin which he says "is highly unstable" and "unattractive as units of account.

2018-9-13 18:07


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Price Turns Green: Poised for a Major Upswing

Bitcoin price started a fresh increase above the $70,000 resistance. BTC is showing positive signs and might rise further above the $72,000 resistance in the near term. Bitcoin started a decent increase above the $69,500 and $70,000 resistance levels.

Bitcoin Price Gains Momentum: Bullish Surge Ahead?

Bitcoin price found support at $67,000 and started a fresh increase. BTC climbed above $69,500 and might continue to rise in the near term. Bitcoin started a decent increase above the $68,500 and $69,500 resistance levels.