Category: Bitcoin Analysis

Bitcoin Revisits $50K, Why BTC Could Still Struggle Near $51K

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Bitcoin price started a strong recovery from $53,000 against the US Dollar. BTC tested $50,000 and it could face a strong selling interest near $51K and $52K. Bitcoin started a decent upward move above the $48,000 resistance zone. The price is now trading well above $48,000 and the 100 hourly simple moving average. There was a break above a major contracting triangle with resistance near $47,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could climb above $50,000 again, but it is likely to…

It’s Crunch Time For Ongoing Bitcoin Parabola

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Bitcoin price has now had one of its largest pullbacks dollar for dollar in history, putting the entire parabolic uptrend in jeopardy, according to one crypto analyst who has warned the top could be near. The analyst, who has been accurate in the past, claims that it is now “crunch time” for the parabola to prove its strength, or risk the start of a violent breakdown. “Crunch Time” For Bitcoin Parabola, As Uptrend Support Line Is Tested An asset that “goes parabolic” is a rare event, occurring when price action…

Bitcoin Price Recovers, Why BTC Could Struggle Near 100 SMA

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Bitcoin price traded to a new swing low at $43,000 before correcting higher against the US Dollar. BTC is now facing a strong resistance near $47,000 and the 100 hourly SMA. Bitcoin extended its decline below the $45,000 support and tested the $43,000 zone. The price is now recovering higher towards the $47,000 resistance and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $48,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must break $47,000…

Why Bitcoin Price Could Extend Its Decline To $41K, 100 SMA Holds The Key

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Bitcoin price started a fresh decline after it failed to clear $52,000 against the US Dollar. BTC is sliding and it remains at a risk of a drop towards $41,000. Bitcoin recovered above $50,000, but it struggled to clear the $52,000 resistance. The price is trading well below $50,000 and the 100 simple moving average (4-hours). There is a key declining channel forming with resistance near $49,220 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is likely to continue lower towards the $41,000 and…

2 Key Reasons Why Bitcoin Bulls Expect Further Upside

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Bitcoin has seen strong gains over the past seven days. According to CoinGecko, the leading digital asset is up 16% in the past seven days, outperforming Ethereum and a number of other digital assets. Despite this strong rally in the price of the leading digital asset, analysts are expecting further gains in the weeks ahead. Here are a few reasons why this sentiment has been shared about Bitcoin. Related Reading: Wall Street Veteran Kickstarts Own Bitcoin Fund With $25m Investment #1: Bitcoin Is Seeing Strong Corporate Demand Bitcoin is seeing…

Bitcoin Just Passed $37k—and Analysts Say the Bottom May Be In

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Bitcoin has undergone an extreme rally over the past day, surging from the $33,000 region past $37,000 as of this article’s writing. The cryptocurrency now sits above $37,000 for the first time since the weekend and is up 10% in the past day’s trading session. The cryptocurrency is outperforming altcoins in this move higher. While Bitcoin has gained 10% in the past day’s trading session, altcoins such as Ethereum and XRP are only up 3-5%. Related Reading: Wall Street Veteran Kickstarts Own Bitcoin Fund With $25m Investment The Bitcoin Bottom…

Bitcoin Just Recovered to $35,000 After Yesterday’s 25% Crash

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Bitcoin is ripping higher despite yesterday’s correction. The cryptocurrency plunged as low as $30,000 yesterday as buying selling rapidly picked up on platforms such as Coinbase, analysts said. This came after Bitcoin peaked at $42,000 late last week. While Bitcoin is not yet in the clear on a short-term time frame, analysts are starting to think that the bottom is in after key technical signs appear. Related Reading: Wall Street Veteran Kickstarts Own Bitcoin Fund With $25m Investment On-Chain Trends Still Bullish for Bitcoin Aleks Larsen, a venture investor at…

IPO Windfalls from Airbnb Could Boost Bitcoin: DCG CEO

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Aside from MicroStrategy raising $650 million for Bitcoin this past week, one of the biggest news on financial Twitter was the Airbnb IPO. After months and even years of anticipation, the global peer-to-peer rental service went public on the stock market. While this came in the middle of a pandemic when the firm’s profits are slipping, the markets bid it higher anyway. Airbnb’s stock, ABNB reached a $100 billion valuation just after it began trading. Further, the shares now trade for $139, despite the IPO closing at $68 per share.…

Bitcoin Bounces Toward $18,400 as MassMutual Unveils $100m BTC Purchase

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Bitcoin underwent a strong plunge yesterday evening to $17,700. The cryptocurrency crashed as the stock market faced a correction and as the U.S. dollar showed a bit of strength after a brutal showing over the past few weeks. But, BTC is already bouncing back. After falling to those lows, the cryptocurrency has bounced toward $18,400 as of this article’s writing. This bounce comes on the news that a large American insurance company has purchased Bitcoin to diversify its portfolio. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A…

Bitcoin Surges After Bulls Defend Key Level; What Analysts are Watching For

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Bitcoin is in the process of pushing higher today, with bulls aiming at sending the cryptocurrency up towards the resistance that it has long faced within the mid-to-upper $19,000 region. If the selling pressure here remains constant and continues hampering the cryptocurrency’s growth, then bears may be poised to gain some control over BTC’s price action and send it reeling down towards $18,000 once again. Where it trends in the mid-term will depend largely on whether or not it can maintain the trend of setting higher-lows after each rejection around its…