Over the past few weeks, Bitcoin (BTC) has settled in and around the key $7,000 support level. Although some say that this price action is eerily reminiscent of that seen prior to 2018’s capitulation event, during which the price of the leading cryptocurrency tanked from $6,000 to $3,000 after consolidating for months on end, analysts say that the price of Bitcoin is readying for a strong bounce in the upward direction.
Related Reading: Bitcoin Poised to Collapse Under $5,000? Market Cycle Fractal Suggests So
Bitcoin Ready to Bounce Big Time?
In a tweet that went crypto-viral, trader DonAlt noted that he thinks “we’re gonna bounce big time in the next 3-6 months,” drawing attention to the Bitcoin chart seen below. In it, he shows that BTC is consolidating above the key macro support in the low-$6,000s, which is where Bitcoin needed to hold in 2018 to see any chance of a reversal out of the previous bear market.
He added in a reply to his original tweet that he’s “serious” in the assertion that the cryptocurrency market could soon jump. And other analysts agree.
$BTC
I'm pretty sure we're gonna bounce big time in the next 3-6 months. pic.twitter.com/gfwhjLyJR1
— DonAlt (@CryptoDonAlt) January 1, 2020
Per previous reports from NewsBTC, full-time trader Cold Blooded Shiller recently posted the below analysis of Bitcoin’s Renko candle chart, which shows the price action over the past three years.
While there is little on the chart, the trader drew attention to two previous bouts of price action in BTC’s history, during which the price rallied by 32% and 40%, respectively, after a bullish divergence was formed between his indicator and the price.
The same divergence is forming yet again, implying that BTC could soon rally by up to 40%, which would mean the price of the asset would take $10,000.
Do with this chart whatever you please $BTC bulls. pic.twitter.com/5hADWZJb5B
— Cold Blooded Shiller (@ColdBloodShill) December 31, 2019
That’s not to mention that a prominent analyst — one who called in October called the scam pump to the $10,000s and the latest decline to the $6,000s — said that he believes BTC is likely to rally 40% in the coming months.
Related Reading: Federal Reserve’s Record $235 Billion Repo Intervention Validates Bitcoin
Do Bears Have Any Control?
Although analysts across the board are leaning more bullish than bearish, there is some evidence to suggest that bears may still be in control of the cryptocurrency market’s directionality.
Former Wall Street trader turned Bitcoin analyst Tone Vays said in a recent interview with BlockTV, an industry media outlet, that he still expects for Bitcoin to see “the next low to come in [during] the first quarter of 2020.” As to where this low in the cryptocurrency market will come in, the long-time cryptocurrency trader looked to the $5,000s, claiming that there’s a high probability Bitcoin will enter that range to put in a fresh low.
#WEEKINREVIEW: "I think we could have a little bit of a rally into the close, but I'm not really expecting anything above $8,000 any time soon. I'm looking for the next low to come in in the first quarter of 2020." – @ToneVays.
See Tone's full analysis: https://t.co/jhKiJ3gUWw pic.twitter.com/Wiz3A3irND
— BLOCKTV (@BLOCKTVnews) December 27, 2019
This comes after 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, which was prior to Bitcoin’s extended bearish move from the $10,000s to the $3,000.
Related Reading: Why a Fund Manager Thinks Bitcoin Will Rally 25% to $9,000 In One Month
Featured Image from Shutterstock The post appeared first on NewsBTC. origin »
Bitcoin’s price remains in a consolidation phase, with technical indicators showing indecision. Traders watch key levels to gauge the next move.
The post Bitcoin (BTC) Price Consolidates Below $100,000 as Whales Await Clear Direction appeared first on BeInCrypto.
Bitcoin’s price remained in a tight range on Monday, continuing a trend that has persisted since November. Bitcoin (BTC) was trading at $96,500, where it has hovered for the past few days. The price is about 12% below its highest…
The crypto market has been experiencing significant volatility, with the Bitcoin price leading the charge. Over the past month, BTC has been trading sideways, recording declines that have pushed its value below the $100,000 mark.
The latest Consumer Price Index data is creating both opportunities and risks for Bitcoin investors. January 2025’s inflation figures have exceeded expectations, potentially setting the stage for significant Bitcoin price movements in either direction.
The Bitcoin price appears to have settled within the $92,000 – $102,000 consolidation range, sparking discussions about the coin’s future trajectory. While it remains unclear whether the premier cryptocurrency has enough momentum to forge new all-time highs soon, it would take significant bearish pressure to pull down the BTC price.
The price of Bitcoin (BTC) suffered a significant loss on Friday as prices dipped below $102,000 marking the end of a rather turbulent trading week. As the global financial markets weathered major losses, Bitcoin made no new price discovery, casting more speculations over the bull market.
Bitcoin price prediction witnessed a sharp price drop following bearish expectations in the U.S. equities market.
The drop below the mid-range support could spur a deeper BTC correction to $92kThe post Bitcoin price prediction bearish ahead of Fed meeting - BTC dives 6% appeared first on AMBCrypto.
Although Bitcoin price action is still holding above the $100,000 price level, the past 24 hours have been highlighted by a 2. 5% decline. According to liquidation data from Coinglass, this decline has seen $65.
Bitcoin (BTC), the flagship crypto asset, presently trades above $104,000 following a significant 10. 98% price rally in the last week. Despite recent sideways movements after a rejection in the $105,700 zone, certain trading indicators signal this uptrend is likely to continue leading to new price discovery.
Bitcoin price resumed its bullish trend and neared its all-time high of $108,200 ahead of Donald Trump’s inauguration and after the encouraging U.S. inflation data.
The Bitcoin price has spent the majority of the past seven days consolidating around the $94,000 mark with signs of a break to either side. According to a crypto analyst, Bitcoin’s recent price movements have led to the creation of liquidity blocks observed between the $86,000 to $104,000 range, which raises an equal likelihood of a bounce towards $104,000 or a downside break to $86,000 from the current price.
Bitcoin tested the $92,000 level yesterday after falling from a weekly high of $102,000 as sell pressures mounted Macroeconomic factors cause doubts about the market strength as sticky inflation becomes a concern Spot crypto ETFs logged large outflows on Wednesday following the release of the Fed meeting notes Bitcoin’s price has fallen from a high […]
The post Bitcoin price analysis: economic headwinds push price lower appeared first on CoinJournal.
The Bitcoin price has struggled to reclaim previous price highs above $100,000, with bearish sentiment dominating the market. Currently, the Bitcoin price is retesting the support line of an Ascending Channel after crashing below $95,000.
The US Federal Reserve’s public consideration of reduced interest rate cuts in 2025 resulted in numerous negative effects on financial markets. Aside from a 17% price loss for Bitcoin, data from Binance exchange shows the BTC market has now developed its largest spot-perpetual price gap.
This week was one of two distinct halves for the price of Bitcoin, with the premier cryptocurrency rising to a new all-time high and dropping by about 13% a few days later. On Friday, December 20, the BTC price dropped to as low as $92,000.
The price of Bitcoin fell to around $92,000, Friday afternoon, December 20 after the US Federal Reserve’s rate cut triggered a sharp selloff in the crypto market. However, the premier cryptocurrency seems to be recovering nicely, having returned above the $97,000 level on the same day.
After crossing an all-time high, the bitcoin price continues to capture the market by consistently proving and solidifying its role as the leading cryptocurrency. However, with its recent price slowdown, top emerging altcoins like PropiChain are brazing up for the market.
Bitcoin‘s scarcity is growing remarkably in the market as small and large-scale investors continue to accumulate a substantial portion of the available coins, which could bolster BTC’s value in light of recent upside price momentum, signaling a potential extension of the uptrend.
The crypto market shed 6. 48% (roughly $240 billion) yesterday as Bitcoin’s fall from $101,000 to a daily low of $93,000 sparked $750 million in liquidations. Major cryptos have begun to recover, with some alts already logging double-digit price increases.
So far, the Bitcoin market continues to demonstrate resilience as it maintains its price above the $90,000 price market despite various factors influencing its price movements. Amid this, a CryptoQuant analyst, aytekin466, recently shared insights into whether the cryptocurrency could face another significant price correction.
The price of Bitcoin (BTC) has dipped by 1. 66% in the last day after failing to break past $102,000 on Friday. Currently, the crypto market leader seems to be in consolidation, with little indication of its next price movement.
Bitcoin has been navigating a whirlwind of volatility recently, with its price repeatedly breaking and losing the highly anticipated $100,000 level—not once, but twice. This rollercoaster movement has captivated investors, making Bitcoin’s price action more intriguing than ever.
Bitcoin price has performed well this week, crossing the important milestone of $100,000 and peaking at $104,000. Bitcoin (BTC) surge occured as data indicated continued investor appetite for the digital currency, even at a six-digit price. Notably, data from SoSoValue…
The Bitcoin price has continually tested resistance levels above $95,000 in its pursuit to reach and surpass the anticipated $100,000 all-time high. Following its surge to $98,000, a crypto analyst has asserted that the BTC price has officially entered the parabolic phase of this four-year market cycle.
Bitcoin‘s recent upward momentum appears to be losing steam as the digital asset has shifted toward bearish territory, sparking speculations about upcoming price corrections. However, considering several factors and trends, these much-anticipated price pullbacks for BTC might be short-lived.
Bitcoin price is consolidating below the $100,000 resistance. BTC bulls might soon attempt to breach the stated milestone and push the price further higher. Bitcoin started a fresh increase above the $96,500 zone.
Bitcoin’s surge lately has brought its price to a new high of $97,584, according to an analysis of price chart shared by Patric H. (@CryptelligenceX) and data from Santiment. Besides, this breakout marks a continuation of bullish momentum, aligning with a fractal pattern observed in Q1 2024.
Bitcoin Puell Multiple nears breakout, indicating a potential 90% price rally, based on mining profitability and historical trends.
The post Bitcoin’s Puell Multiple hints at a potential 90% price rally appeared first on Crypto Briefing.
Ripple CTO has addressed the stagnant XRP price action despite Bitcoin price hitting new ATH while this article also discusses ETFSwap’s (ETFS) potential.
Bitcoin Cash price rallied alongside Bitcoin (BTC) in recent weeks, rising from lows of $321 earlier this month to hit $488 across exchanges. The level is the highest for BCH price since early June, when the altcoin fell below $500.
Bitcoin (BTC) price hit a new record on Nov. 10 by briefly crossing the $80,000 mark, data from CryptoSlate shows. Bitcoin’s all-time high price comes at the heels of Donald Trump winning the U.
Recent action has seen Bitcoin price retest the $67,000 price level. Particularly, the Bitcoin price declined by about 8. 9% in seven days from $73,464 on October 29 to $66,895 on November 4, as many short-term traders exited their positions.
The Bitcoin price has posted five consecutive red daily candles since it stopped just short of its all-time high at $73,620 last Tuesday. As a result, the BTC price has fallen by around 7%. This decline is evident on the weekly chart, which shows a major bearish weekly candle – a gravestone doji.
Bitcoin price is correcting gains from the $73,500 zone. BTC is back below the $70,000 level and showing a few bearish signs. Bitcoin started a fresh decline from the $73,500 zone. The price is trading below $71,500 and the 100 hourly Simple moving average.
Historically, Bitcoin has achieved all-time highs (ATH) on November 28 in both 2013 and 2017. With November 28, 2024, imminent, investors are speculating whether Bitcoin could reach the $100,000 mark on this significant date.
Despite Bitcoin's recent rally, on-chain data reveals the bull market still has plenty of room to grow. Metrics like the MVRV Z-Score, NUPL, and Puell Multiple suggest Bitcoin is far from overheated, pointing to potential for significant upside in the months ahead.
As October approaches, investors are looking ahead to what the month will bring this time around for Bitcoin and the entire crypto industry. Historically, October (often referred to as “Uptober”) has been a month of significant upward momentum for Bitcoin since the crypto’s creation.
Bitcoin fell to lows of $56k again as crypto dumped amid a fresh surge in stocks. Many altcoins are mirroring this dump, including Polygon and Bitcoin Dogs. Yet, as the market experiences new downside pressure at the start of a historically tough September, most experts are doubling down on a bounce for Bitcoin in coming […]
The post 0DOG and MATIC price prediction amid Polygon’s token swap appeared first on CoinJournal.
The cryptocurrency market experienced a significant rally last week, providing a much-needed boost for many short-term speculators to turn profits. Bitcoin led the charge, surpassing the $64,790 mark, though the momentum appeared to have eased by the time of writing.
Both experienced traders and experts are drawn to Litecoin (LTC). Declaring it “about time for LTC to wake up,” John Bollinger, the author of the well-known Bollinger Bands, recently hinted to an upcoming change for LTC.