Category: Bitcoin Analysis

Bitcoin Price Breaks $24K, Why BTC Could Rise Further To $25K

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Bitcoin gained pace and cleared the $24,000 resistance against the US Dollar. BTC could rise further towards $25,000 if it stays above the $23,000 support. Bitcoin remained in a positive zone and climbed above the $24,000 resistance zone. The price is now trading above the $23,000 level and testing the 100 hourly simple moving average. There is a key bullish trend line forming with support near $23,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might continue to rise if it clears the $23,750…

Why Bitcoin Must Beat $25,500 To Establish A Bull Rally

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Bitcoin has recovered above $23,000 off the back of a rally that had started during the last leg of the weekend. This recovery has brought more money into the market, which has helped push the price even further. As bitcoin trends at $23,000, there is significant resistance mounting up ahead, presenting various important technical levels. Bitcoin Must Beat $25,500 Even though bitcoin is making its way towards $24,000 in a tremendous bull trend, there are still some technical levels that the digital asset must beat in order to fully establish…

Tesla’s bitcoin holdings could result in a $460 million hit for the car maker, Barclays says

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Tesla ‘s bitcoin holdings could have taken a big bite out of the electric car maker’s upcoming earnings, according to Barclays. Analyst Brian Johnson said he expects Tesla to report an impairment of roughly $460 million due from bitcoin. Tesla is slated to post earnings Wednesday after the bell. “With Bitcoin ending the quarter at ~$19k (well below TSLA’s likely purchase price range of ~$32-33k), we expect TSLA to take an impairment charge in the quarter of ~$460mn or ~$0.40 per share,” Johnson said. Bitcoin prices have plummeted in recent…

Bitcoin Price Eyes Fresh Increase To $22K, Why Dips Remain Supported

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Bitcoin started a steady increase above the $21,000 resistance against the US Dollar. BTC could rise further towards $22,000 if it stays above the $20,500 support. Bitcoin is slowly moving higher above the $21,000 resistance zone. The price is now trading above the $20,800 level and testing the 100 hourly simple moving average. There was a break above a short-term bearish trend line with resistance near $21,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might gain bullish momentum if it clears the $21,500…

Bitcoin Price Spends Four Weeks At 2017 Peak Prices, What Comes Next?

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Bitcoin movements in the 2022 bear market have almost completely deviated from the established bear trends in the market. The digital asset which had never fallen below a previous cycle peak had finally done it when it fell to $17,600 following the June crash. Since then, the cryptocurrency has had a hard time maintaining its price above the previous cycle peak and has now spent a number of weeks nursing this current level. Bitcoin Enters Consolidation Levels Bitcoin has been consolidating around the 2017 peak levels for the last month.…

Bitcoin Price Seems Primed For A Strong Wave Above $21K

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Bitcoin is moving higher and trading above the $20,000 zone against the US Dollar. BTC could surge if there is a clear move above $20,580 and $20,730. Bitcoin is showing a few positive signs above the $20,000 support zone. The price is now trading above the $20,000 level and the 100 hourly simple moving average. There is a major bullish trend line forming with support near $19,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a strong upward move if there is…

Underwater bitcoin miners are turning up the selling pressure on crypto

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Bitcoin prices have fallen so low that the cryptocurrency’s miners have become sellers, further pressuring the already downcast market. Recent data shows an increase in the amount of bitcoin moved by miners from the mining pool to crypto exchanges in June, as the price of the cryptocurrency slid from $30,000 to $20,000, according to CryptoQuant. The event, known as “miner capitulation,” implies miners were preparing to sell their bitcoin – likely to cover mining expenses or to capture greater gains by selling at a price they consider to be overvalued.…

Bitcoin Dips Further, Why BTC Could Revisit $20K

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Bitcoin is moving lower below the $21,000 zone against the US Dollar. BTC could gain bearish momentum below the $20,650 support zone. Bitcoin struggled to rise above $21,200 and declined towards $20,650. The price is now below the $21,000 level and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $21,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could decline further if there is a clear move below the $20,650 zone. Bitcoin Price Remains At…

Bitcoin Dips Could Be Limited, Why 100 SMA Is The Key

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Bitcoin is showing positive signs above the $21,000 zone against the US Dollar. BTC might start a fresh increase and could even clear the $21,750 resistance zone. Bitcoin remains well supported above the $21,000 and $20,500 levels. The price is now above the $20,800 level and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $21,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it stays above $20,500 and…

Bitcoin Price Eyes Upside Break, Why BTC Could Surge to $23K

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Bitcoin is showing positive signs above the $20,500 zone against the US Dollar. BTC could rally if there is a clear move above the $21,250 resistance zone. Bitcoin remains well supported above the $20,000 and $20,500 levels. The price is now above the $20,500 level and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $20,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it clears the $21,250 and…