Bitcoin passes technical resistance levels, bullish trend continues

Bitcoin passes technical resistance levels, bullish trend continues
фото показано с : invezz.com

2021-10-8 13:30

Bitcoin’s (BTC/USD) technical bias turned bullish as the price passed key resistance levels, analysts report. The king of crypto’s ascent continues today. On Wednesday, the cryptocurrency jumped above $55,000, cutting the downtrend line that linked the September highs near $52,000 and April high of $64,801.

Horizonal resistance turns into support

Buyers turned the horizontal resistance into support at $53,000, having overcome the substantial barrier of $51,109 earlier that day. That level marked the 61.8% Fibonacci retracement, a widely tracked phenomenon dating from September.

Analysists with research firm Delphi Digital wrote:

BTC/USD technicals flipped into the bullish territory after breaking above a key trend line. The move was catalyzed by significant spot buying at the North American open. (Wednesday, October 6) was starting to look despondent, with BTC seeming to have rejected a key trend line, and other crypto assets plunging. But towards the North American open, BTC posed a stern reversal and pulled the rest of the market up with it. In other news, dog coins are all the rage again. SHIBA INU (SHIB/USD) price is up over 80% in the last 24 hours, and other dog coins have followed suit. The last time dog coins pumped, it was a sign of ridiculous froth and coincided with the April/May top.”

Bullish trend backed by whale accumulation

Bitcoin’s breakout gives hope of attaining the highs near $60,000 registered back in May because the recent trend is backed not only by whale accumulation, but also by an increase in trading volumes. Whales are investors holding a lot of Bitcoin. Delphi report that since Sep 28, the cumulative spot trading volume on Coinbase, FTX, Binance, and other top exchanges has almost doubled to $45 billion a day.

Whales kicked off the rally in September

Data tracking company Santiment reports that whale traders determined the current trend by accumulating coins in late September. On September 25, investors who held between 100 and 10,000 Bitcoin accumulated another 70,000, a daily record since July 2019.

So far, Bitcoin’s gain for the week is about 13.4%. This is almost equivalent to its growth of around 15% in the last week of April.

The post Bitcoin passes technical resistance levels, bullish trend continues appeared first on Invezz.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 96691.67 (-0.16%)
Объем 24H $40.399b
Изменеия 24h: -0.85 %, 7d: -6.03 %
Cегодня L: $96041.94 - H: $97458.26
Капитализация $1914.458b Rank 1
Цена в час новости $ 55861.55 (73.09%)

bitcoin continues technical levels resistance bullish line

Источник: invezz.com

bitcoin continues → Результатов: 126


Фото:

Bitcoin Whales Dominance Hits All-Time Low As Long Term Holders’ Stash Continues To Balloon

According to blockchain analytics firm glassnode, Bitcoin whales’ dominance continues to diminish while coffers belonging to long-term holders continue to grow. Bitcoin Adoption Surging In recent years, and most notably since 2017, the rate of Bitcoin adoption has increased drastically thanks to the asset’s price run which has been fuelled by a huge number of retail […]

2022-1-3 21:54


Anonymous Bitcoin Whale Transfers 40,000 BTC, Valued At $211 Million, As Price In USD Recovers

Anonymous Bitcoin Whale Moves 40,000 BTC, Valued At $211 Million, As Bitcoin Continues To Recover As the Bitcoin market continues to recover and industry leaders are starting to share their positive predictions on what’s to come for the market, more news in favor of Bitcoin seems to be flourishing. Based on the claims made by […]

2019-5-1 21:52


Crypto Hedge Fund Multicoin Valued at $75m After Fred Wilson’s VC Investment

Despite the recent decline of the cryptocurrency market, the promise of huge profits continues to lure investors to funnel some of their funds into these digital coins. Recently, the New York-based venture capital firm Union Square Ventures (USV) officially announced its investment in Multicoin Capital, which is a cryptocurrency hedge fund startup.

2018-6-22 21:43


PR: GIN Hits Three Milestones in One Week – Cryptopia Listing, PIVX Addition and Investor Dashboard Debut

The still young GINcoin cryptocurrency continues its ascension in the crypto market. With its rapid development, the project is ticking three important boxes last week: getting listed on Cryptopia, adding PIVX to the turnkey masternode deployment platform, and launching an all-in-one Investor Dashboard, where masternode owners can keep a close eye on all of their masternode investments.

2018-6-19 20:30


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Drops Below $100,000: The End Or Beginning Of The Crypto Bull Market?

Bitcoin, the titan of the cryptocurrency world with a market cap hovering around $1. 9 trillion, has experienced a significant downturn, dipping below the psychological threshold of $100,000. This flash dump, occurring over just three days, has left many investors and analysts questioning whether this marks the end of the current bull market or signals a healthy correction within an ongoing bullish trend.

ASIC Targets Binance Australia Over Landmark Case In Crypto Regulation

The Australian Securities and Investments Commission’s (ASIC) most recent action against Binance Australia marks a significant advancement in cryptocurrency regulation. The cryptocurrency community is in disbelief over this case, which will likely have a lasting impact on how digital currencies are governed in Australia and other nations.

UAE’s Bitcoin Holdings Soar To $40 Billion As Bull Season Continues

The United Arab Emirates (UAE) recently witnessed its Bitcoin holdings reach an impressive $40 billion, marking a significant milestone in the country’s cryptocurrency journey. This investment surge aligns with a global bull market that has reignited interest in digital assets.

UAE’s Bitcoin Holdings Soar to $40 Billion As Bull Season Continues

The United Arab Emirates (UAE) recently witnessed its Bitcoin holdings reach an impressive $40 billion, marking a significant milestone in the country’s cryptocurrency journey. This investment surge aligns with a global bull market that has reignited interest in digital assets.

ASIC Targets Binance Australia Over Groundbreaking Case in Crypto Regulation

The Australian Securities and Investments Commission’s (ASIC) most recent action against Binance Australia marks a significant advancement in cryptocurrency regulation. The cryptocurrency community is in disbelief over this case, which will likely have a lasting impact on how digital currencies are governed in Australia and other nations.