Category: Bitcoin Analysis

This Tool Has Called Nearly Every Bitcoin Top, And It Just Triggered Again

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Things have been looking up for Bitcoin. The cryptocurrency is currently the best-performing mainstream asset of 2020 so far, beating out the record-breaking gold rally, the stock market recovery, and anything else. But the top in Bitcoin could be in, according to an indicator that has accurately called nearly ever major top in the first-ever cryptocurrency’s entire history. If the indicator is correct once again, not only is the rally over, but an extended decline could be next. Bitcoin 2020 Peak Could Already Be In, According To Indicator And Price…

Cardano (ADA) Just Formed This Textbook Bullish Reversal Against Bitcoin

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Since the highs that were seen in July, Cardano (ADA) has seen a strong retracement against Bitcoin. The altcoin has collapsed by dozens of percent against the leading cryptocurrency, crushed despite a rally in many other crypto assets. Cardano may soon be able to outpace Bitcoin, though, according to a popular technical indicator that predicts reversals in the trend of an asset. Related Reading: Crypto Tidbits: MicroStrategy’s $250m Bitcoin Purchase, Ethereum DeFi Boom, BitMEX KYC Cardano Could Soon Reverse Higher Against Bitcoin Cardano is poised to reverse against Bitcoin to the…

Bitcoin is Showing Early Signs of Fresh Surge, But 100 SMA is the Key

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Bitcoin price is holding the $11,650 and $11,550 support levels against the US Dollar. BTC is currently recovering, but it must surpass the 100 hourly SMA to start a fresh surge. Bitcoin is still trading nicely above the $11,650 and $11,550 support levels, with positive signs. The price is likely to face a strong resistance near $11,950 and the 100 hourly simple moving average. There was a break above a crucial bearish trend line with resistance near $11,810 on the hourly chart of the BTC/USD pair (data feed from Kraken).…

YFI Price Passes that of Bitcoin as Yearn.Finance TVL Hits $800m

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Yearn.Finance (YFI) is a rising star within the DeFi sector, with the protocol seeing massive inflows of capital while the governance token’s price rockets higher. The growing publicity and hype surrounding this project has caused YFI’s price to surpass that of Bitcoin, seeing an over 3x return from its recent lows that were set just one week ago. The cryptocurrency’s uptrend isn’t showing any signs of wavering either, with hoards of new investors flooding in as hype begins mounting. Some community members are now even proposing that the token is…

“Weak Reaction at Support” Puts Bitcoin Rally At Risk, Analyst Asserts

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Bitcoin attempted to bounce back this Thursday following a string of sessions in red earlier this week. The benchmark cryptocurrency was up 0.25 percent at $11,788 as of 10:03 GMT. But its modest upside outlook failed to impress at least one trader. The pseudonymous crypto-analyst, having around 60,000 followers on Twitter alone, noted that the bounce from $11,569-level showed “weak reaction at support.” He pitted the pullback level against the 14-day bull run that preceded it, adding that its inability to attract enough bulls raised the possibilities of an extended…

Bitcoin Reaches Crucial Juncture, $11,500 Holds The Key For Next Rally

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Bitcoin price settled below the $12,000 support level against the US Dollar. BTC is currently consolidating above the $11,650 and $11,500 support levels, below which it could nosedive. Bitcoin remained in a short-term bearish zone and it settled below the $12,000 region. The price is currently consolidating losses above the $11,650 and $11,550 support levels. There is a key bearish trend line forming with resistance near $11,880 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must stay above the $11,500 support zone to start…

The Real Reason There Wont Be A Bitcoin Black Thursday Repeat

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Bitcoin has begun to pull back after the crypto market hit levels of extreme greed not seen in well over a year. Already, sentiment has turned toward talk of new lows, or a revisit of a Black Thursday-like selloff. The pandemic is still a prominent factor, and the economy is only worsening. However, there is one important reason standing in the way of any chance of another Black Thursday style collapse. Will The Latest Crypto Market Crash Lead To New Black Thursday Style Lows? Black Thursday is a day that…

Here’s What Top Analysts Think About Bitcoin After It Corrected 7%

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Bitcoin has not performed well in the past 24 hours. After peaking at $12,400 on Monday, the leading cryptocurrency’s price action has rapidly reversed. As of the time of this article’s writing, BTC trades for $11,800 — around $600 before the local highs. Earlier today, Bitcoin traded as $11,600, meaning it had corrected around 7% from the local highs at $12,400. Here’s what analysts are thinking after the 7% drop. Related Reading: Crypto Tidbits: MicroStrategy’s $250m Bitcoin Purchase, Ethereum DeFi Boom, BitMEX KYC Bitcoin Is in a Tough Spot After Correction…

Why This Weekly Close In Bitcoin Is Critical For Bullish Continuation

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Bitcoin price has been flying over the last few weeks, ever since the cryptocurrency broke free from its tight trading range and took out $10K resistance. Within days, the cryptocurrency found itself trading over $12,000, where it has failed to hold thus far. For bulls to keep the momentum going, this weekly close is especially critical. Here’s why, along with which levels bulls must defend on weekly and monthly levels for the rally to continue. Minor Crypto Market Correction, Or At Risk of Reversal? The leading cryptocurrency by market cap…

This Bearish Divergence Suggests Bitcoin Will Soon See a $1,300+ Pullback

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Bitcoin and the aggregated crypto market are currently caught within the throes of a volatile trading session, with BTC plunging below its key $12,000 support level. The break below this crucial support caused it to plunge as low as $11,600, with bulls stepping up and guarding against a decline beneath this level. Analysts are now widely noting that this recent price action has struck a significant blow to the cryptocurrency’s near-term outlook. One indicator of this newly established weakness is a bearish divergence on Bitcoin’s Renko chart. The last time…