Category: Bitcoin Analysis

Bitcoin could test $50,000 after new year rally, per chart analysts

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Bitcoin popped to start the new year as eager investors drove the price to nearly $46,000 on Tuesday. The rally began late Monday night and quickly pushed the cryptocurrency above $45,000. It hit a high of $45,913.30, a level not seen since April 2022. While bitcoin ended 2023 with a brief pause in its overall uptrend, it still posted its fourth positive month in a row and a 157% gain for the year. The next stop on the way to a new all-time high is between $48,000 and $50,000, chart…

Could a bitcoin ETF approval be a sell-the-news event? What investors are expecting on the big day

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Just a couple of weeks from now, the U.S. could have its first spot bitcoin ETF. The excitement around the prospect has been building for months, but the market may be a little overheated now. The chances that the ETF approval will be a sell-the-news event have been getting higher, according to CryptoQuant, which points to the fact that investors have been sitting on high unrealized profits – a trend that historically has preceded price corrections. In this case, bitcoin could correct all the way down to $32,000, the short-term…

Bitcoin Price Regains Strength – Why BTC Could Still Remain In Range Before 2024

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Bitcoin price found support and started a decent increase above $43,000. BTC is rising, but it might struggle to clear the $44,300 and $44,500 resistance levels. Bitcoin tested the $41,650 zone an started a fresh increase. The price is trading above $43,000 and the 100 hourly Simple moving average. There was a break above a connecting bearish trend line with resistance near $43,350 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move surge toward the main resistance at $44,300. Bitcoin Price…

Bitcoin funds and active bond plays are potential winners in the year ahead

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The late-year rally in stocks and bonds has created an opportunity for investors to re-evaluate their portfolios at a time when the ETF industry is cranking out new products in areas including active fixed income and, potentially, cryptocurrency. The best performing ETFs in any given year are ultimately a function of what’s happening in the broader markets. Investors should be sure to understand not just how a fund might perform in different market environments, but also how buying it changes their portfolio. That is especially true after the narrow market…

Bitcoin Price Approaches Breakout – Why BTC Could Rally 10%

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Bitcoin price is gaining pace and trading above the $44,000 resistance. BTC could continue to rise once it clears the $44,500 and $45,000 resistance levels. Bitcoin started a decent increase above the $43,500 resistance zone. The price is trading above $43,500 and the 100 hourly Simple moving average. There is a key bullish trend line forming with support near $43,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a strong rally if there is a close above $44,300 and $44,500. Bitcoin Price…

Advisors may drive bitcoin ETF flows amid widespread ‘disinterest’ in crypto, says Needham

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Registered investment advisors will probably be the main driver of bitcoin ETF flows should one be approved in the U.S., according to Needham, but a survey conducted by the firm shows retail clients are showing little to no interest in crypto investing. With market expectations that the U.S. could see its first ever spot bitcoin ETF approved in January, Needham sought to find out whether investors would prefer bitcoin exposure through an ETF, crypto- related equities or trusts, or buying the cryptocurrency outright on a trading platform like Coinbase or…

Bitcoin Price Dips Again and Signals A Larger Pullback To $38K

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Bitcoin price struggled to start a fresh increase above the $42,300 resistance zone. BTC is declining and is now at a risk of more downsides below $40,000. Bitcoin failed to start a fresh increase above the $42,000 resistance zone. The price is trading below $42,500 and the 100 hourly Simple moving average. There is a key bearish trend line forming with resistance near $41,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could extend losses if there is a close below the $40,000 support…

Bitcoin has bullish outlook despite pullback

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Things are still looking up for bitcoin despite an eye-popping drop in its price at the beginning of this week, according to Fairlead Strategies. Bitcoin fell 7% Monday as traders took profits from a two-month rally now at 54%, according to Coin Metrics. The selling took place days after bitcoin surpassed the $40,000 level, rising above $44,000 quickly for the first time since April 2022. On Tuesday, it was trading at about $41,000. That could just be a blip in the chart, however. “It has yet to impact our short-term…

Here’s what chart analysts say about bitcoin’s path from here to $50,000

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After spending much of 2023 stuck near $30,000, bitcoin broke above $40,000 last weekend and has remained above that level for much of this week. Now the next stop could be close to $50,000. Bitcoin has been moving more quickly and persistently for several weeks, notching new 2023 highs more frequently. After beginning November at about $34,000, it’s kicked off December above $40,000 for the first time since April 2022 and is already up 16% for the month already. Chart analysts say the next level of resistance to watch is…

Bitcoin and gold are smashing through key levels. Here’s what’s driving the moves

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While the U.S. equity market pulls closer to new highs, investors are also bidding up the centuries-old asset of gold and the new digital coins that have been touted as the yellow metal’s replacement. Both gold and bitcoin kicked off the week by hitting new milestones — spot gold hit a record high above $2,100 per ounce, and bitcoin topped $42,000 to hit its highest level since April 2022. The recent gains have been more dramatic in bitcoin, which is now up more than 150% for the year. The digital…