Bitcoin extended its rally above the $9,200 resistance against the US Dollar. BTC tagged the $9,400 area and now it could correct lower towards $8,800 or $8,500. Bitcoin price is approaching a couple of key resistances near $9,500 against the US Dollar. There could be a short term downside correction from $9,400 or $9,500 in the coming sessions. Yesterday’s major bullish trend line is still active with support near $9,040 on the hourly chart of the BTC/USD pair (data feed from Kraken). Ethereum is lagging, but it could rally if…
Day: January 29, 2020
Bitcoin Hits $9,400 In Vertical Rally, But It’s At Risk of A Violent Pullback For This Key Reason
Bitcoin extended its rally above the $9,200 resistance against the US Dollar. BTC tagged the $9,400 area and now it could correct lower towards $8,800 or $8,500. Bitcoin price is approaching a couple of key resistances near $9,500 against the US Dollar. There could be a short term downside correction from $9,400 or $9,500 in the coming sessions. Yesterday’s major bullish trend line is still active with support near $9,040 on the hourly chart of the BTC/USD pair (data feed from Kraken). Ethereum is lagging, but it could rally if…
Cardano (ADA) Bulls Outpaces Bitcoin: Here’s What Could Propel It to $0.06
Cardano rallied more than 12% and outpaced bitcoin’s 5% rise. ADA price is now trading well above $0.0500 and it could continue to rise towards the $0.0600 resistance area. ADA price started a strong rise after it broke a major resistance near $0.0465 against the US dollar. The price rallied above the $0.0500 and $0.0520 resistance levels. There was a break above a key contracting triangle with resistance near $0.0440 on the 4-hours chart of the ADA/USD pair (data source from Kraken). The pair is likely to rise further towards…
Here’s Ethereum Bears Last Defense, Can Bulls Overcome This Hurdle?
Ethereum is up 2% and it broke the $175 resistance, while bitcoin rallied 5%. ETH price is now facing a strong resistance near the $178 and $180 levels. There was a steady rise in Ethereum above the $170 and $175 levels against the US Dollar. The price revisited the key $178 resistance area, where the bears took a stand. There is a major ascending channel forming with support near $173 on the hourly chart of ETH/USD (data feed via Kraken). The pair could rally significantly once there is a close…
Bitcoin Price Rallies to Set a 2020 High Near $9.5K — Is $10K Next?
Bitcoin (BTC) price has rallied to $9,439 and bulls have again shown that they have no intention of letting the crypto market’s most valuable asset stay below the $9K mark. Bitcoin daily price chart. Source: Coin360 Earlier in the day Bitcoin’s price dropped below $9,000 to a daily low at $8,879, which led some analysts to issue dismayed calls for a revisit and consolidation around the $8,300 to $8,500 range. While the thought of a pullback was the least desired scenario amongst traders, it seems perfectly reasonable given Bitcoin’s robust…
Bitcoin Price Rallies to Set a 2020 High Near $9.5K – Is $10K Next?
Bitcoin (BTC) price has rallied to $9,439 and bulls have again shown that they have no intention of letting the crypto market’s most valuable asset stay below the $9K mark. Bitcoin daily price chart. Source: Coin360 Earlier in the day Bitcoin’s price dropped below $9,000 to a daily low at $8,879, which led some analysts to issue dismayed calls for a revisit and consolidation around the $8,300 to $8,500 range. While the thought of a pullback was the least desired scenario amongst traders, it seems perfectly reasonable given Bitcoin’s robust…
Bitcoin Cracks $9,400 to Reach Nearly 3-Month High in ‘Asia-Driven Rally’
Bitcoin (BTC) has risen above a key area of resistance to reach its highest point in nearly 3 months. On Jan. 28, at roughly 23:30 UTC the price of BTC rose from around $9,150 to $9,400 in less than 5 minutes to reach an 83-day high, CoinDesk’s BPI shows. The world’s largest cryptocurrency by market capitalization continues to rise amid the backdrop of uncertainty in the global markets with the Dow Jones Industrial Average having cemented a 1.6 percent loss on Jan. 28. The S&P 500 index also saw a…
Bitcoin Cracks $9,400 to Reach Nearly 3-Month High in ‘Asia-Driven Rally’
Bitcoin (BTC) has risen above a key area of resistance to reach its highest point in nearly 3 months. On Jan. 28, at roughly 23:30 UTC the price of BTC rose from around $9,150 to $9,400 in less than 5 minutes to reach an 83-day high, CoinDesk’s BPI shows. The world’s largest cryptocurrency by market capitalization continues to rise amid the backdrop of uncertainty in the global markets with the Dow Jones Industrial Average having cemented a 1.6 percent loss on Jan. 28. The S&P 500 index also saw a…
Buy the Pump, Sell the Dump — Does Momentum Investing Work in Bitcoin?
Since the start of the year, Bitcoin (BTC) price has been as high as $9,200 — a 2-month high — while going as low as $6,900 on Jan. 3. Bitcoin’s volatility is one of the most frequently discussed issues that arise when investors evaluate Bitcoin as an asset class. However, its volatile behavior is what provides an opportunity for investors to take advantage of the price movements and make a profit. Following predictions as optimistic as the $100,000 forecast based on the stock-to-flow model, investors may foresee another period of…
LedgerX Board Member and Former CFTC Chair Named CEO of Miami Futures Exchange
A board member of LedgerX’s holding company has been named CEO of a firm accused of trying to take over the bitcoin derivatives exchange. Mark Wetjen, a former acting chairman of the Commodity Futures Trading Commission (CFTC), is the new CEO of Miami International Futures Exchange (MIAX) and an executive vice president of its parent firm, Miami International Holdings (MIH). According to a press release Monday, Wetjen in his EVP role will work on futures and innovative products – including crypto derivatives – and act as a regulatory liaison for…