Category: Bitcoin Analysis

These Two Key Factors Show “Fireworks” in the Bitcoin Market Are Imminent

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Bitcoin just saw a harsh $1,500 rejection at one of the most important resistance levels in the asset’s history. Though analysts remain long-term bullish, with one going as far as to say that market “fireworks” are in this market’s sights. Related Reading: Ethereum DeFi Nears $1 Billion Milestone Again, and That’s Big for the ETH Bull Case Bitcoin Primed to See “Fireworks,” On-Chain Analysis Shows According to Hans Hague, a senior quantitative analyst at crypto-asset fund Ikigai Asset Management, Bitcoin is currently in ‘heavy accumulation.” He indicated that by pointing to…

Litecoin Signaling Fresh Increase To $50: Here’s How It Could Refuel Bitcoin

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Litecoin retreated from the $50.00 resistance and found support near $45.00 against the US Dollar. The price is currently rising and it could surge if it clears the $48.00 resistance. There is a major bullish trend line forming with support near $46.50 on the 4-hours chart of the LTC/USD pair (data feed from Kraken). Bitcoin price could also continue higher above $9,800 if LTC first clears the $48.00 resistance. Litecoin price is rising again from the $45.00 support zone against the US Dollar. LTC is likely to first break higher…

Technicals Suggest Bitcoin Needs To Clear $9,800 For Hopes of a Fresh Rally

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Bitcoin is currently correcting higher from the $9,300 support against the US Dollar. BTC price must clear the $9,740 and $9,800 resistance levels to continue higher in the near term. Bitcoin is currently showing a few positive signs above the $9,500 and $9,600 levels. The price is likely to gain bullish momentum if it breaks the $9,740 and $9,800 resistance levels. There is a bear flag forming with resistance near $9,740 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could resume its decline if…

A $10,000 Bitcoin Retest Likely as Dollar Loses Its Charm

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Bitcoin repeatedly failed to hold its prices above $10,000 since February 2020. The cryptocurrency on Tuesday fell by more than $1,000 from its quarterly high above $10,400, logging another upside rejection above the $10K level. But a stark US dollar warning could send investors back to Bitcoin and other risky assets, helping it break and hold the $10K support. Bitcoin broke below $10,000 – all over again. The flagship cryptocurrency jumped the six-figure level on Tuesday, extending its move towards a new quarter-to-date high at $10,428. Nevertheless, traders used the…

Why a Long-Time Bitcoin Proponent Thinks BTC Will Rally Over 3,000% in 5 Years

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Bitcoin remains below the crucial resistances of $10,500 and $14,000 but that hasn’t stopped investors from speculating as to where BTC will top in the upcoming bull run. One prominent executive and programmer in the space is speculating that a price of $300,000 is possible within the next five years. Here’s why he thinks so. Why Bitcoin Could Hit $300,000 by 2025 According to a Long-Time BTC Proponent Speaking to Bloomberg on June 1st, Blockstream CEO Adam Back says that he thinks Bitcoin will hit $300,000 within the next five…

Don’t Get Overconfident About the Bitcoin Price, On-Chain Metrics Show

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After a relatively long stagnation phase, volatility has returned, and Bitcoin has done nothing but shoot up. Several indexes suggested that a price breakout was imminent. But nobody would have thought that the $10,000 resistance level will break so easily. The recent price action sent investors and market participants alike into “greed,” according to the Crypto Fear and Greed Index. Greed, however, is not necessarily a positive sign as one of the most successful investors in the world, Warren Buffett once said: “Be fearful when others are greedy and greedy…

Analysts Eye $20,000 Bitcoin as Price Breaks Major Resistance

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Bitcoin leaped over $10,000 in Monday trade as a weakening dollar sentiment sent risky assets higher. The cryptocurrency corrected lower in the early morning Tuesday but signaled strength amid an optimistic macro outlook. Top analysts further predicted the rally to continue, with popular crypto commentator, Ivan Liljeqvist, forecasting a $20,000 price prediction. Bitcoin was among the best-performing assets heading into the new week. The cryptocurrency rose by almost $1,000 in less than 12 hours on Monday, leaping over a crucial resistance level sitting at $10,000. The surprising rally surfaced as investors…

Analyst Who Called 2019’s $6k Bitcoin Low Says Current Price Action Is “Pivotal”

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After coiling under $10,000 for days, Bitcoin saw an explosive breakout on Monday. The cryptocurrency reached a local high of $10,429 during the surge higher, around $1,000 higher than where it had traded at just days earlier. $10,429 is the highest price BTC has traded at since February’s highs. While the price action has undoubtedly been bullish for the flagship cryptocurrency, a top analyst says that pivotal moments lie ahead for Bitcoin. That’s to say, BTC is not out of the woods just yet. Here’s more on why. Related Reading: This…

Bitcoin Smashes $10K: Key Reasons Why BTC Could Correct Before Fresh Increase

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Bitcoin is up more than 5% and it broke the main $10,000 resistance against the US Dollar. BTC price could correct lower in the short term towards $9,950 before it starts a fresh increase. Bitcoin rallied recently and broke many key hurdles near $9,950 and $10,000 (as discussed yesterday). The price traded to a new weekly high at $10,371 and it is currently correcting lower. There is a key connecting bullish trend line forming with support near $9,740 on the hourly chart of the BTC/USD pair (data feed from Kraken).…

Restored Falling Wedge Pattern Sees Bitcoin Rising above $11,500

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It appears Bitcoin missed a medium-term upside target above $11,500 after undergoing a significant sell-off in March 2020. The major northward move had appeared out of a Falling Wedge breakout. Bitcoin reentered the Wedge after the crash and followed it with a breakout towards a new bull target near $9,500. The cryptocurrency is still eyeing $11,500. Bitcoin is sending a buy signal. So shows a textbook technical indicator called Falling Wedge. The chart pattern started forming after Bitcoin surged to near $14,000 in June 2019. As the cryptocurrency started correcting…