Category: Bitcoin Analysis

Bitcoin Slows Its Bearish Momentum Following Daily Close; Factors to Consider

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Bitcoin is currently flashing some notable signs of strength following the bout of weakness seen throughout the past couple of weeks. The cryptocurrency is far outperforming the altcoin market, with both major altcoins like Ethereum and Chainlink – as well as smaller ones – all flashing signs of immense weakness throughout the past several days and weeks. BTC’s upswing amidst a turbulent and bloody market is the ultimate show of strength, indicating that investors still view it as the most reliable and safe digital asset during times of uncertainty within…

Bitcoin Reaches Crucial Juncture: Here’s What Could Trigger A Sharp Decline

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Bitcoin price extended its rise above the $10,800 resistance against the US Dollar. However, BTC is struggling to clear the all-important $11,000 barrier and it could decline sharply. Bitcoin traded above the $10,700 and $10,800 resistance levels. The price is still trading well below the $11,000 barrier, but above the 100 hourly simple moving average. There is a crucial contracting triangle forming with resistance near $10,800 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could either break the $11,000 barrier or decline sharply below…

Bullish Case For Bitcoin: Profit Taking Turns Into Buying The Blood

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Bitcoin price recently saw a $2,000 correction after months straight of surging. At the start of the selloff, signs pointed to profit-taking as the primary reason for the pullback. However, after greed turned to fear, big-money investors have begun buying the blood right out from under investors who are panic-selling the cryptocurrency at a loss. Here’s why this is incredibly bullish for Bitcoin and what this could mean for a new uptrend taking hold. Bitcoin Whales Buy The Blood As Small Time Investors Panic Sell At a Loss The crypto…

Did Bitcoin Just Confirm It’s Largest Reversal Pattern In History?

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All eyes are on Bitcoin and more specifically if the cryptocurrency is able to hold above both the “meme” downtrend line and the critical level of $10,000. The asset thus far has held strong, confirming both former resistance levels as support. But at the same time, the leading cryptocurrency by market cap may have also confirmed the largest reversal pattern in its entire history. Has The Cryptocurrency Just Confirmed Its Largest Reversal Chart Pattern Ever? When Bitcoin slammed headfirst into $20,000 and immediately fell over $8,000 to $12,000 days later,…

Bitcoin Surges Towards $10,800 as Recovery Continues: Here’s What Comes Next

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Bitcoin is surging higher as legacy markets rally. The leading cryptocurrency is up around 5% in the past 24 hours, outpacing many altcoins, with focus re-centering on BTC. The cryptocurrency seems to be benefiting from a drop in the value of the U.S. dollar. This has historically sent both gold and Bitcoin, along with the stock market, higher. Related Reading: This European Crypto Exchange Was Just Hacked for $5 Million There do seem to be some technical reasonings behind Bitcoin’s ongoing rally too, though. Namely, the cryptocurrency managed to close its…

Bitcoin Cash Rallies 7%, More Upsides Likely If BCH Clears 100 SMA

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Bitcoin cash price rallied over 6% and it broke the $230 and $235 resistance levels against the US Dollar. BCH is likely to continue higher towards $250 if it clears the 100 SMA (H4). Bitcoin cash price is gaining momentum above the $235 resistance level against the US Dollar. The price is currently facing hurdles near $240 and the 100 simple moving average (4-hours). There was a break above a key contracting triangle with resistance near $233 on the 4-hours chart of the BCH/USD pair (data feed from Kraken). The…

Bitcoin Jumps 5%, But $11,000 Is Still A Crucial Breakout Resistance

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Bitcoin price is slowly gaining momentum and it broke the $10,700 resistance against the US Dollar. BTC is up 5%, but it is still facing a major resistance near $10,800 and $11,000. Bitcoin is rising and it broke the $10,500 and $10,700 resistance levels. It is now trading well above the $10,580 pivot level and the 100 hourly simple moving average. There was a break above a key contracting triangle with resistance near $10,440 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is still…

How One Line In Bitcoin Dominance Is Standing In The Way Of Alt Season

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Bitcoin price may have just held and confirmed a critical bullish retest of $10,000 and “meme” downtrend resistance from all-time high. After such a bullish confirmation the leading cryptocurrency by market cap could soon soar. And if it does, BTC dominance could be signaling that altcoins are going to bleed out and into Bitcoin in the months ahead. But it all hinges on one line holding, which if lost, could send the crypto market into a full-blown alt season instead. BTCUSD Monthly Bullish Retest Holding Strong | Source: TradingView Bitcoin…

Likelihood of Bitcoin Setting “Higher Highs” Grows as Bulls Build Momentum

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Bitcoin has flashed some signs of intense strength throughout the past day, with the cryptocurrency recouping some of the losses that came about as a result of its decline from $12,400 to lows of $9,900. Bulls now appear to be aiming for a move up towards $11,000, which previously held strong as a level of support during its descent. If this resistance level is flipped back into support, it could provide a strong base for the cryptocurrency to rebound off of, potentially allowing BTC to reclaim its long-held position within…

How Does The Next Chapter In The Tether Printing Story Unfold For Bitcoin

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If Bitcoin reacts to the recent substantial printing of more Tether stablecoins the same as it has in the past, we may finally have a catalyst for the crypto asset retesting its former all-time high. According to an ongoing correlation that suggests Bitcoin pumps with each new chapter of the Tether saga, the leading cryptocurrency by market cap’s story in 2020 could be capped off with a very happy ending. Will Bitcoin Explode In Price After Tether’s Market Cap Adds $5 Billion in Supply? Crytocurrency investors are watching in wait…