Category: Bitcoin Analysis

Bitcoin Lacking Bullish Momentum, But 100 SMA Could Trigger Upside Break

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Bitcoin price is showing early signs of a bullish break above $10,800 against the US Dollar. BTC could continue higher as long as it is above the 100 hourly SMA. Bitcoin is struggling to gain bullish momentum, but it slowly moved above the $10,800 resistance. The price is now above the 100 hourly simple moving average, with a major hurdle at $10,920. There was a break above a crucial contracting triangle with resistance near $10,815 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could…

Bitcoin Forms “Obviously Bullish” Divergence as User Count Spikes

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Bitcoin underwent multiple rejections in the $11,000 region over recent weeks, suggesting the asset remains rangebound. Fortunately for bulls, there are on-chain trends suggesting that the cryptocurrency is in a bullish state. There are also underlying fundamentals like a commitment to inflation by the Federal Reserve that could spur further BTC purchasing. Related Reading: MicroStrategy’s Stock Continues to Soar After Bitcoin Purchase Bitcoin’s On-Chain Trends Suggest the Prevailing Trend Is Bullish Bitcoin’s recent price action has been cautious at best but analysts seem convinced that the prevailing trend is bullish. Willy…

Why Post Debate Stock Market Performance Could Be Bad For Bitcoin

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Last night, current United States President Donald J. Trump faced off against former Vice President and challenger Joe Biden in the first of three debates. Data shows, that following each debate, things have turned bad for the stock market, which could, in turn, mean even worse for Bitcoin. Here’s why the stock market tumbling due to debates demoralizing investors could also spell bad news for the leading cryptocurrency by market cap. Why The Debate Could Have a Bearish Impact On Bitcoin Last night, the two top Presidential candidates went head-to-head…

Bitcoin’s September To Remember Comes To A Close: Here’s What Is At Stake

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Today is September 30, and while for most all it does is mark the last day of the month, for Bitcoin, it marks an incredibly critical monthly candle close. The first-ever cryptocurrency is retesting an important resistance level turned support on monthly timeframes, and holding strong could be a confirmation of a breakout from the bear market. Here’s the exact price Bitcoin needs to close at tonight to make September a month to remember for a long time to come. Bitcoin Monthly Close Is Coincidentally Critical Resistance Flipped Support Retest…

This Pattern Suggests Bitcoin’s Price is About to “Blast Off” to New Local Highs

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Bitcoin and the entire crypto market have witnessed dwindling volatility throughout the past few days and weeks, with both buyers and sellers being unable to gain control of the crypto’s near-term outlook. The benchmark cryptocurrency has been caught within a bout of sideways trading throughout the past few weeks, with buyers establishing support at $10,200 while sellers continue guarding the region between $11,000 and $11,200. The lack of momentum caused by the buying and selling pressure at these levels has led to the formation of an even tighter trading range,…

Bitcoin Topside Bias Vulnerable If It Continues To Struggle Below $11K

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Bitcoin price is stuck in a broad range below the $11,000 resistance against the US Dollar. BTC is likely to decline sharply if it continues to fail near $10,800 and $11,000. Bitcoin is struggling to gain bullish momentum and it is well below the $11,000 resistance. The price is approaching the 100 hourly simple moving average and the $10,750 support. There is a major contracting triangle forming with resistance near $10,850 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could either surge above $10,850…

Bitcoin Faces Pivotal Quarterly Close, Here’s Why

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Bitcoin price is facing a historically volatile quarter, that’s in the past taken the cryptocurrency to either its annual top or bottom the last few years in a row. But this quarterly close is especially pivotal, due to one important but likely overlooked resistance level. How the cryptocurrency closes in less than 48 hours could shape the trend ahead for the next three months or more. Cryptocurrency Market Approaches Critical Quarterly Close The cryptocurrency market is heading into the fourth quarter of the year, and the most unusual one in…

Bitcoin is on Shaky Ground as Analysts Target Move to Lower Lows

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Bitcoin’s price action has been flashing warning signs to investors throughout the past few days, with buyers and sellers largely reaching an impasse as the cryptocurrency struggles to garner any clear momentum. Its stalling uptrend has come about due to the intensity of the resistance between $11,000 and $11,200. Each tap of this region has catalyzed intense selloffs. Analysts are now offering mixed outlooks on BTC, widely noting that its mid-term trend hinges almost entirely on its reaction to $11,000. Because it has so far struggled to gain enough momentum…

Bitcoin Expects to Hit Yearly Highs on UBS’s Bullish Gold Call; Here’s Why

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Bitcoin is looking to resume its uptrend towards $12,500 based on its proximity with traditional rival gold. The analogy pops out of an erratic positive correlation between the two assets that have caused them to trade in tandem since March 2020. Both gold and Bitcoin receive their cues from the same set of fundamentals: the global central bank policies in response to the coronavirus pandemic. The correlation between Bitcoin and Gold since March 2020. Source: TradingView.com The correlation between Bitcoin and Gold since March 2020. Source: TradingView.com That includes ultralow…

Bitcoin Correction To $10k On Horizon After Bulls Lose Control At $10.9k

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Bitcoin price failed to clear the $10,900 and $11,000 resistance levels against the US Dollar. BTC is currently declining and it seems like there are chances of an extended decline to $10,000. Bitcoin failed to gain strength and it remained well below the $11,000 resistance. The price is now trading below the $10,800 support and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $10,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains at a…