Bitcoin Price Close to $11K, BTC Looking for Foothold

Bitcoin Price Close to $11K, BTC Looking for Foothold
ôîòî ïîêàçàíî ñ : coinspeaker.com

2020-10-8 18:54

Coinspeaker
Bitcoin Price Close to $11K, BTC Looking for Foothold

By Dmitriy Gurkovskiy, Chief Analyst at RoboForex.

Tech analysis of Bitcoin (BTC) price.Great Britain limits operations with cryptocurrencies.The profitability of mining BTC is falling.

On W1, not much has changed. The pair keeps correcting an uptrend and is trading near 61.8% Fibo. A bounce off it will signal further growth, the aim of which remains at 100.00%. The MACD histogram is positive, which must be a signal of further growth of the asset. The signal lines of the indicator keep intertwining upon forming a Black Cross, which, again, promises new growth. The Stochastic is moving slowly in the overbought area, enhancing the probability of further growth of the coin.

Photo: RoboForex / TradingView

On D1, the technical picture is almost identical to that on W1: the pair is winding up the correction and returning to the growth. The aim of the growth from the lower border of the channel is still $12,700 USD. The MACD histogram remains negative. The signal lines of the indicator have formed a Black Cross and go on declining, promising another minor correction. The W1 and D1give contradicting signals. Still, a correction before further growth looks more probable.

Photo: RoboForex / TradingView

On H4, the perspectives of Bitcoin (BTC) price for further growth without correction are brighter than on the larger timeframes. The Stochastic formed a Golden Cross near the oversold area, giving another signal of the end of the correction and further development of the ascending dynamics. The aim of the growth, in this case, is the upper border of the ascending channel on H4.

Photo: RoboForex / TradingView

British authorities limit selling crypto derivatives by retail investors; the official reason is the protection of market players from possible losses. The ban concerns derivatives and ETNs and will get in force on January 6th, 2021. The FCA is sure that these products are unsuitable for retail consumers because not all of them can adequately estimate all the risks. The ban is meant to save some 50 million investors’ GBP.

The market took the initiative negatively – some say that the ban can increase risks instead of decreasing them because those market participants who are interested in derivatives and ETNs will have to leave for other trading platforms.

Mining the leading cryptocurrency remains profitable regardless of a slight decrease in the rate and an abundance of outdated equipment. In September, the BTC rate fell by almost 8% while the number of hashes remained nearly the same – 19.3 trillion. This is nearly the high. The fact that the hashrate keeps at its maximum shows that miners do not switch off the equipment. This is a positive signal.

For this article, we’ve used BTCUSD charts by TradingView.

Bitcoin Price Close to $11K, BTC Looking for Foothold

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) íà Currencies.ru

$ 67811.47 (-0.13%)
Îáúåì 24H $28.495b
Èçìåíåèÿ 24h: -1.09 %, 7d: -3.36 %
Cåãîäíÿ L: $67649.64 - H: $68812.85
Êàïèòàëèçàöèÿ $1336.226b Rank 1
Öåíà â ÷àñ íîâîñòè $ 10896.15 (522.34%)

btc looking 11k price close bitcoin foothold

Èñòî÷íèê: coinspeaker.com

btc looking → Ðåçóëüòàòîâ: 126


Analyst: Bitcoin Stability Could Help Launch Altcoins Higher in Q4

Bitcoin’s price action has been creating significant fear amongst investors, with analysts and traders widely expecting it to see downside once its ongoing consolidation phase ends. This fear is clearly seen while looking towards BTC’s funding rates, which are extremely negative at the moment as demand for short positions rockets higher. Much of this sentiment […]

2020-10-8 19:00


Ôîòî:

Data Shows “Smart Money” is Looking to Buy Bitcoin at $8,800

It has been a rough past couple of days for Bitcoin and the rest of the crypto market, with bears forcing BTC to dive as low as $10,000 The support found just below this price region was significant, as BTC quickly bounced and ran back towards the upper-$10,000 region Bulls and bears have since reached an impasse, with the cryptocurrency consolidating as it attempts to garner some clearer directionality in the near-term One analyst is […]

2020-9-5 21:00


Ôîòî:

Here’s How High One Trader Expects Bitcoin to Climb Before Forming a Top

Bitcoin faced yet another $12,000 rejection yesterday that caused the cryptocurrency’s price to reel down towards $11,700 This level appears to have been established as support, as buyers ardently defended against any break below it It now appears that the crypto’s short-term technical outlook remains unchanged, as BTC is still consolidating within the upper-$11,000 region As for where it may go next, one analyst explained that he is looking towards $13,000 as a near-term target […]

2020-8-17 19:00


Ethereum Retraces After Hitting Crucial Resistance; Here’s How Low It May Dip

Ethereum is currently retracing following its intense move higher throughout the past few days The cryptocurrency remains technically strong and is sitting well above where it was trading at just one week ago Despite this, analysts are also noting that it recently reached the top of a crucial range seen while looking at its BTC trading pair One analyst is noting that he expects the cryptocurrency’s uptrend to stall here, potentially causing ETH to see […]

2020-7-29 23:00


Fireblocks Users Can Send Crypto Instantly to FTX Exchange With Zero-Confirmation Program

An announcement provided to the BEG desk confirms Fireblocks, a digital asset firm providing institutional-grade solutions to crypto traders, has introduced the “Deposit Acceleration program. ” The program, announced on Tuesday, aims at reducing the time in making crypto exchange deposits by having zero confirmations on the blockchains.

2020-7-28 20:46


Monday Blues Are Looking Green Today; Many Expected BTC to Drop with A 2.90% CME Gap

After smashing through $10,000 over the weekend, Bitcoin powered all the way to $10,950. The past week has turned out to be good for the world’s leading digital currency, recording 13% gains. But over half of these gains were made over the weekend, and because unlike the bitcoin market the traditional stock market doesn’t operate […]

2020-7-28 23:33


Ôîòî:

Poland’s Financial Watchdog Mulls Crypto Regulation 

Polish Financial Supervision Authority (KNF), is now pondering on whether to regulate bitcoin (BTC) and other cryptocurrencies in the nation. The regulator is looking to formulae a uniform crypto regulatory framework that will govern crypto-linked businesses and is now seeking feedback from financial institutions and other stakeholders in ts cryptospace, according to reports on JulyRead MoreRead More.

2020-7-25 01:00


Ôîòî:

Ethereum Bears Have the Upper Hand as ETH Trades Within Crucial Range

Ethereum has been forming an incredibly close correlation to Bitcoin throughout the past couple of weeks It is attempting to break this correlation now, but bulls are flashing some signs of weakness, especially while looking towards its BTC trading pair Analysts are now noting that ETH is trading within a crucial range that could determine its future The upper boundary of this range sits just a hair above where it is currently trading at, but […]

2020-7-21 23:00


Bitcoin is in a ‘Consolidation Zone,’ We’ll Move to $14,000 Once BTC Gets Above $10k: Mike Novogratz

Bitcoin is about system change, said Mike Novogratz, CEO of Galaxy Digital, in his latest interview with Barron’s Carleton English. While talking about the catalysts that could propel the price of Bitcoin higher, he shared how a revolution is going on between black lives matter and people looking for economic injustice, and COVID-19 pandemic has […]

2020-7-11 15:40


Bitcoin Futures Premium Shows That Institutions are Bullish on BTC

Bitcoin futures have seen a rising premium over spot BTC in recent months, which seems to indicate that traders are bullish on the benchmark cryptocurrency. This premium is particularly clear while looking towards the CME – which seems to indicate that professional traders and institutions are particularly bullish on BTC at the present moment. This […]

2020-7-8 00:00


Ôîòî:

The Grayscale Bitcoin Trust May Be Signaling BTC has Formed a Long-Term Bottom

Bitcoin has been consolidating between $9,000 and $10,000 for the past several days and weeks, struggling to garner any clear trend The crypto has expressed some overt weakness in recent times due to its propensity to trade near the lower boundary of this range Buyers have been ardently defending against a drop below $9,000 One trend seen while looking towards the publicly traded Grayscale Bitcoin Trust seems to indicate that the cryptocurrency could be forming […]

2020-7-2 02:00


Ôîòî:

Bitcoin Bulls Flash Signs of Strength as Stock Market Fuels Fresh BTC Uptrend

Bitcoin is showing some signs of strength after it posted a strong rebound from its recent lows set around $9,200 The crypto has since climbed back above $9,400, and appears to be navigating through what has become a heavy resistance level Analysts do believe that the token is poised to see further upside due to a few key factors One such factor would be the ongoing rise seen while looking towards the stock market, which […]

2020-6-23 21:00


Ôîòî:

Analyst: Bitcoin’s Mass $220m Liquidation Spree is Fundamentally Positive for BTC

Bitcoin saw an immense decline yesterday that was sparked by its latest push into the $10,000 region This decline caused the cryptocurrency’s traders to have nearly $100 million in long positions liquidated This massive torrent of liquidations came about less than 12-hours after the crypto’s rally to highs of $10,500 liquidated over $120 million in short positions Bitcoin has seen immense turbulence as of late, providing dangerous market conditions for active traders looking to cash […]

2020-6-4 02:00


Ôîòî:

Craig Wright Petitions Court to Keep List of Bitcoin Addresses Sealed

Craig S. Wright’s (CSW) legal team is looking to prevent further public embarrassment by asking the court not to reveal Bitcoin (BTC) addresses allegedly belonging to their client. According to Stephen Palley, a partner at Washington-based law firm Anderson Kill, CSW’s legal team filed a motion with the court to keep Wright’s listed Bitcoin addresses […] The post Craig Wright Petitions Court to Keep List of Bitcoin Addresses Sealed appeared first on BeInCrypto.

2020-5-30 17:10


Ôîòî:

Bitcoin Open Interest on CME Sets New High as Investors Watch Pandemic’s Cost Grow

Open interest for Bitcoin futures on the CME is once again pushing higher towards fresh all-time highs This growth has not coincided with any heavy increase in trading volume, signaling that many investors are looking to use futures to gain long-term exposure to BTC BTC OI’s growth has come as one of the Fed presidents notes that the COVID-19 pandemic could drag on for significantly longer, also leading governments across the world to spend significantly […]

2020-5-21 21:00


Ôîòî:

Coinbase Data Shows Crypto Investors Still Fans of Altcoins Despite Poor Performance

Despite climbing against Bitcoin today, most major altcoins are still trading around their multi-year lows while looking towards their BTC trading pairs This weakness comes as traders flee smaller cryptocurrency’s in favor of Bitcoin, which has been firmly establishing itself as a “safe haven asset” throughout the past couple of months Data from Coinbase, however, indicates that the vast majority of crypto investors on the platform are still interested in investing in altcoins Data from […]

2020-5-19 21:00


Banks’ 1Q Earning Report Reveals They Are Stockpiling Cash in Anticipation of a “Severe Recession”

With interest rates plummeting below zero and the central banks printing money like crazy, it is believed bitcoin is finding new users in those looking to escape the uncertain financial system. These new investors are apparently using BTC as a safe haven as their confidence in the traditional market wavers. With money continuing to lose […]

2020-4-20 15:31


äàëüøå åùå 77 íîâîñòåé →

Ïàðòíåðû Currencies.ru

Ðåêëàìà íà Currencies.ru

Ñàìîå ñâåæåå íà Currencies.ru

Bitcoin Price & Technical Analysis: BTC Sales on Halt

Coinspeaker Bitcoin Price & Technical Analysis: BTC Sales on HaltThe BTC rate is trying to restore after a drawdown yesterday. It is now trading at 10,336 USD.Bitcoin Price & Technical Analysis: BTC Sales on Halt