Day: March 31, 2019

Not Out Of The Woods? Bitcoin (BTC) Needs To Pass $4,400 To Confirm Breakout

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Bitcoin Still To Meet Key Resistances While Bitcoin (BTC) has seemingly broken clean past $4,000, as it failed to pullback under that level during Friday night’s brief sell-off, analysts are sure that the cryptocurrency still has key resistances to meet, surpass, and hold above. In a recent TradingView post, Magic Poop Cannon, a popular analyst, remarked that while BTC broke clean past a long-standing “powerful” resistance, which depressed Bitcoin heavily at $10,000, $8,500, and $6,500 and the 150-day moving average simultaneously, this surge was done on relatively light volume. This…

Bitcoin (BTC) UTXO Growth Signals Renewed Crypto Optimism

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Bitcoin Accumulation Season Filb Filb, once again, has unveiled a reason why crypto investors shouldn’t be all too gloomy. The analyst recently wrote that the number of UTXOs (Unspent Transaction Outputs) on the Bitcoin blockchain is nearing the all-time high it established at the peak of 2017’s BTC run, indicating that “accumulation is real.” The prominent trader claims that this uptick in UTXOs, which signals that a growing number of Bitcoin receivers are “HODLing” their coins, was a result of December’s capitulation event, which brought BTC from $6,000 to $3,000.…