Category: Bitcoin Analysis

Crypto bottom? What analysts say about bitcoin’s break above $20,000

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Bitcoin moved above $20,000 last week and has sustained that level since, after spending much of the month sitting idly in the $19,000 range, suggesting to some eager investors that the tide may be turning for crypto. The cryptocurrency rose for the second week in a row, by 7.25%, although in the week prior it finished higher by just 0.01%. Ether notched an up week as well, its first one in the last four. It ended 19.48% higher. The upward push came ahead of the Federal Reserve’s two-day policy meeting in…

Bitcoin Price Just Saw Technical Correction And Fresh Increase Seems Likely

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Bitcoin price corrected lower from $19,650 against the US Dollar. BTC is holding the $19,200 support and might soon start a fresh increase. Bitcoin started a downside correction after it failed to clear the $19,650 zone. The price is trading above $19,200 and the 100 hourly simple moving average. There is a connecting bearish trend line forming with resistance near $19,320 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh increase if there is a clear move above the $19,350 resistance.…

Bitcoin Price Is Forming A Key Trend and Swift Rally Could Occur

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Bitcoin price is moving higher above $19,250 against the US Dollar. BTC could eye a crucial upside break above the $19,500 and $19,650 resistance levels. Bitcoin started a fresh increase above the $19,200 and $19,250 levels. The price is trading above $19,200 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $19,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a strong increase if there is a clear move above the…

Polygon Bulls In Control, According To This Indicator As Bitcoin Continues In A Range

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MATIC’s price remains strong despite price facing rejection from a high of $0.8 as the price holds above the key support area.  MATIC breaks out of a descending triangle as the price looks strong despite Bitcoin (BTC) dragging market prices down.  The price of MATIC trades above key support of $0.77 as the price continues to trade above 50 and 200 Exponential Moving Averages (EMA) on the daily timeframe.  Polygon (MATIC) price has held strong above the key support area after breaking out of its descending triangle and assuming a…

Ethereum Mimics Bitcoin As The Bulls And Bears Tussle; Who Will Come Top?

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ETH’s price struggles to break above key resistance as the price continues to trade in a range mimicking the price of Bitcoin.  ETH continues to struggle as price trades close to the demand zone.  The price of ETH continues to look indecisive as price trades below 50 and 200 Exponential Moving Average (EMA) on the daily timeframe.  The price of Ethereum (ETH) in recent times has looked like it has lost its steam to rally against tether (USDT) as the price has remained in a range-bound movement for over weeks.…

Bitcoin mining difficulty hit an all-time high even with depressed prices

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Bitcoin’s mining difficulty rose to an all-time high last week for the second time in a month, which is great for the health of the network but has been putting pressure on crypto miners. It now requires 35.6 trillion hashes to mine one bitcoin. That’s about 13.55% higher than the previous difficulty adjustment two weeks ago and the highest adjustment in more than a year, CryptoQuant. The difficulty algorithm is programmed in the Bitcoin code to stabilize the network by ensuring each coin is mined at a steady pace of…

Bitcoin Price Lacks Momentum But BTC Holders Are Safe: Here’s Why

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Bitcoin price struggled to clear the $20,000 resistance zone against the US Dollar. BTC might decline, but there is a key support waiting near the $18,900 zone. Bitcoin failed to gain momentum for a move above the $20,000 resistance zone. The price is trading below $19,400 and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $19,250 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could move down further to test the $18,900 support zone in…

Bitcoin Price Slides Below Key Support Amid Russia-Ukraine War Escalation

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Bitcoin price is slowly moving lower below the $19,200 support against the US Dollar. BTC could slide further if there is further escalation in Russia-Ukraine war situation. Bitcoin is slowly moving lower below the $19,200 and $19,000 levels. The price is trading below above $19,500 and the 100 hourly simple moving average. There is a connecting bearish trend line forming with resistance near $19,260 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to move down if there is a clear move below…

Bitcoin Price Breaking This Confluence Resistance Could Spark Strong Surge

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Bitcoin price is showing positive signs above $20,000 against the US Dollar. BTC could start a strong surge if it clears the $20,500 resistance. Bitcoin is gaining pace above the $19,800 and $20,000 resistance levels. The price is trading above $20,100 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $20,150 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if there is a clear move above the $20,500 resistance. Bitcoin Price…

Exchanges Close Q3 With Massive Bitcoin Outflows, Why A Rally Is On The Horizon

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The third quarter of 2022 was a rollercoaster for the price of bitcoin. BTC’s price had fluctuated wildly during this time and ended up hitting lower lows than expected. However, this has not changed investors’ convictions about the cryptocurrency. As the third quarter drew to a close, there had been a massive withdrawal spree from centralized exchanges, which led to more than $600 million in outflows. Bitcoin Outflows Grow The last day of September has proven to be an important trading day for bitcoin. Given that it was both the…