Category: Bitcoin Analysis

TA: Bitcoin Topside Bias Vulnerable If It Continues To Struggle Below $11.5K

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Bitcoin price is consolidating in a range below the $11,500 resistance against the US Dollar. BTC could start a substantial decline if it breaks the $11,230 support zone. Bitcoin is struggling to gain traction above the $11,500 and $11,520 resistance levels. The price is currently trading below $10,400 support and the 100 hourly simple moving average. There is a short-term contracting triangle forming with resistance near $11,480 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a strong downside correction if it breaks…

Bitcoin Held By Public Companies Now On Par With Past Market Cap

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The Bitcoin market cap is hovering at roughly $211 billion currently, but four years earlier, it was a meager $6.8 billion. This figure matches the BTC supply public companies now hold alone, and it could provide the “writing on the wall” regarding what to expect in terms of the asset’s future growth. Bitcoin Matures Into Corporate Reserve Asset, Domino-Effect Could Drive New Bull Run The crypto market is evolving: decentralized finance is far more sustainable than the ICO boom, and Bitcoin is maturing into a respected asset alongside gold, stocks,…

Bitcoin is About to Form a Pivotal Buy Signal Last Seen in Late July

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Bitcoin has seen a strong rally over the past few days after weeks of consolidation. The leading cryptocurrency has gained around $1,000 from last week’s lows near $10,400. This rally has allowed the technical case for further upside to continue to build. One crypto-asset analyst recently noted that Bitcoin is about to form a pivotal buying signal that was last seen in late July, in the midst of the strong uptrend that took the asset as high as $12,500. Should history repeat, Bitcoin should continue to ascend in the days…

“Watch Out” For Bitcoin “Bulldozer” When Volume Expands

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Volatility is finally increasing after a return to historical lows, but volume has yet to follow. When it does, however, one crypto trader says to “watch out” for the “bulldozer” that will be Bitcoin after a breakout supported by volume expansion. Here’s a look at the last time volume contracted this much, and what to potentially expect across the coming crypto market price action when volume finally arrives. Trader Joel Olszewicz Warns Bitcoin Bulldozer Is Coming The cryptocurrency market is known for its extreme price volatility that makes holding a…

Bitcoin Bulls Rejected Hard At $11,500 Retest, Rapid $250 Drop Follows

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Bitcoin price is experiencing a surge of intraday volatility, rocketing $150 in minutes then collapsing more than $250 just moments later. Here’s what is going on in the top-ranked cryptocurrency and what to watch for as price action to develops. Triangle False Breakout Rejects Bulls Back Below Resistance At $11,500 Bitcoin’s notorious volatility is back after a short-lived phase of tranquility. Explosive price action this week following a bullish breakout of a downtrend line on the heels of Square news sent the cryptocurrency well above $11,000 and kept climbing. Bulls…

Bitcoin’s 60-day Volatility Plunges to Historic Lows as Consolidation Persists

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Bitcoin’s volatility has been diving as of late, with the benchmark cryptocurrency seeing multiple prolonged bouts of sideways trading. Last week, BTC did see some turbulence that caused its price to rally from lows of $10,400 up to highs of $11,700. This move occurred over multiple days and has since resulted in it seeing yet another phase of consolidation. Its lack of momentum is not providing investors with any significant insights into its near-term trend, and the resistance that sits just above where it is currently trading at is quite…

TA: Bitcoin Could Start A Major Correction If it Closes Below $11,200

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Bitcoin price is still struggling to gain bullish momentum above $11,500 against the US Dollar. BTC could start a major downside correction if it breaks $11,200 and the 100 hourly SMA. Bitcoin is struggling to settle above the $11,500 and $11,520 resistance levels. The price is currently trading just above the $10,400 support and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $11,400 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a strong…

Sell Setup Combo On Bitcoin Coincides With Ominous Astrological Event

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Bitcoin price has fallen more than $400 from yesterday’s peak. The drop happened abruptly as the daily candle closed and turned to October 13th’s trading session. The collapse also coincides with two sell setups triggering, and the start of an ominous astrological event that historically has created turmoil for both people in general, and also for Bitcoin. Here’s how this short-lived phase has impacted crypto in the past, and how the combination of sell setups triggering could set off a series of downward movements in the days ahead. One-Two Crypto…

TA: Bitcoin Just Saw Key Technical Correction, But 100 SMA Is Still Strong

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Bitcoin price extended its rise above the $11,500 resistance against the US Dollar. BTC is correcting lower from $11,700, but it is likely to find support near the 100 hourly SMA. Bitcoin broke the key $11,500 resistance level and traded to a new weekly high at $11,724. The price is currently correcting lower below $11,500, but it is above the 100 hourly simple moving average. There is a connecting bullish trend line forming with support near $11,320 on the hourly chart of the BTC/USD pair (data feed from Kraken). The…

Bank of England Governor Still Isn’t a Fan of Bitcoin

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While central banks are embracing digital currencies, they still aren’t a fan of Bitcoin and other cryptocurrencies. The Bank of England’s recently-instated governor made that view clear just recently when he asserted that the leading cryptocurrency isn’t valuable in his eyes. The governor, Andrew Bailey, has been touting this opinion for many years. Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Andrew Bailey Isn’t a Fan of Bitcoin According to Reuters, Bailey said on Monday that he still doesn’t believe that Bitcoin has any intrinsic value.…