Tag: 77k

Bitcoin “Cheat Sheet” Calls For Next Leg Up To $77K

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Bitcoin price is taking its time consolidating around $50,000 but could be preparing for the next major leg up to around $77,000 per coin, according to what one trader calls a “cheat sheet” to the current crypto market bull run. The “cheat sheet” is a fractal from the past that is playing out once again in Bitcoin markets almost perfectly. If the fractal continues, here’s how far it could take the price per BTC before the peak is in. Bitcoin Trader Cheat Sheet Hints At Next Leg Up To Around…

Market Wrap: Bitcoin Edges Up to $7.7K as Mining Power Rebounds

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Bitcoin’s price is on the upswing, and so is the amount of computing power securing the network as a once-in-four-years event known as the halving approaches. The world’s oldest cryptocurrency is up 12% over the past five days, and less than a percent over the last 24 hours, trading in $7,600-$7,700 territory Tuesday.  Bitcoin trading on Coinbase the past five daysSource: TradingView The price for one BTC has been above the technical indicator 10-day and 50-day moving averages, indicating bullish sentiment. Bitcoin trading on Coinbase since April 26Source: TradingView Meanwhile,…

Historical CME Pattern Suggests Bitcoin Rally to $7.7k is Likely to Brutally Reverse

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The Bitcoin price rose to as high as $7,770 on major cryptocurrency exchanges on April 23. The abrupt upsurge coincided with the expiration of CME’s BTC futures contracts for April. Data from Skew indicates that the CME Bitcoin futures volume and open interest spiked to a monthly high. The surge in trading activity preceded the fast increase of the BTC price to above $7,000. CME Bitcoin futures saw monthly high volume on April 23 (Source: Skew) Bitcoin price historically sees large movement on the 24th of every month The CME…