Tag: Analysis

3 technical analysis strategies that help confirm winning trades

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Cryptocurrency trading has evolved from the perception of simply being a game of chance to a strategic process. Successful traders rely on a combination of technical analysis, specific indicators and metrics to find trades with a high probability of profit. Before explaining the three technical analysis strategies that can help confirm a winning trade, let’s first define the key terms: Technical analysis — is all about analyzing statistical trends, so as long as an asset has historical data, technical analysis can be applied. Technical analysis involves looking at the past…

Price analysis 2/13: SPX, DXY, BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, SOL

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Bitcoin and major altcoins look vulnerable to a deeper correction after the crackdown on Paxos soured sentiment across the crypto market. Bitcoin (BTC) and select altcoins are threatening to deepen their correction after reports emerged that the United States Securities and Exchange Commission (SEC) issued a Wells Notice to Paxos, alleging that the dollar-pegged Binance USD (BUSD) stablecoin is an unregistered security. Separately, Paxos has been ordered by the New York Department of Financial Services (NYDFS) to halt the issuance of BUSD.  After the crackdown on Kraken last week and…

Price analysis 2/6: SPX, DXY, BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT

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The US dollar’s rise has put brakes on Bitcoin’s price recovery, but lower levels are likely to attract buyers for BTC and altcoins such as DOGE. The United States dollar index (DXY) has started a strong recovery and its rise is putting pressure on Bitcoin (BTC) and the S&P 500 (SPX) index. The market participants will be keenly watching for any insights on future rate hikes when the Federal Reserve Chairman Jerome Powell speaks before the Economic Club of Washington on Feb. 7. Meanwhile, Bitcoin’s 43% rebound in January has…

Price analysis 1/30: SPX, DXY, BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT

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Bitcoin and altcoins started the week in the red, but if this week’s FOMC meeting aligns with investors’ general expectations, the wider crypto market could quickly rebound. Traders tend to lighten up positions before important events because they hate uncertainty. The United States Federal Reserve’s policy decision is on Feb. 1, where the central bank is expected to hike rates by 25 basis points. Market observers will keenly watch for any hints about how high the rates could go. That could be one of the reasons for the profit-booking in…

Price analysis 1/23: SPX, DXY, BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT

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The rally in stocks could be giving Bitcoin price a boost, and the crypto market could see more fireworks if the Fed confirms investors’ expectation that rate hikes will slow down. Bitcoin’s (BTC) price has risen about 37% year-to-date and is not showing any signs of slowing down. The S&P 500 index (SPX) has also made a winning start to the year but has seen a relatively muted rally of roughly 4%. While the price of risky assets are rising, the United States dollar index (DXY), perceived as a safe…

Price analysis 1/17: SPX, DXY, BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT

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Bitcoin’s chart shows a tug-of-war between bulls and bears, and this is having a slight impact on the upward price action of most altcoins. Risk assets have started the new year on a strong note. The S&P 500 (SPX) and the Nasdaq closed in the positive for the second successive week and also notched their best weekly performance since November.  Bitcoin (BTC) led the recovery in the crypto markets with a sharp 21% rally last week. That sent the Bitcoin Fear and Greed Index into the neutral territory of 52…

Bitcoin hits new post-FTX high as analysis warns move ‘choreographed’

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Bitcoin (BTC) hit new two-month highs overnight into Jan. 19 as suspicions over the market’s validity gained momentum. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Concern over BTC liquidity “exploit” Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it consolidated above $21,000 after hitting $21,455 on Bitstamp. That marked the pair’s highest point yet in 2023, the latest accomplishment in a bullish recovery unchallenged since the FTX debacle. Amid widespread mistrust of the move, however, fresh warnings arose as Bitcoin continued to defy predictions of a major retracement.…

Bitcoin could see $25K by March 2023 as US dollar prints ‘death cross’ — Analysis

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Bitcoin (BTC) shows the potential of stretching its ongoing price recovery to $25,000 by March, based on a mix of bullish technical and macro indicators. Bitcoin price exits descending channel range First, Bitcoin’s potential to hit $25,000 comes from its exit from a prevailing descending channel range. A bull run or bull trap? — Cointelegraph (@Cointelegraph) January 16, 2023 Notably, BTC’s price broke out of the range late last week, accompanying a rise in its trading volumes. The cryptocurrency’s move upside also pushed the price above its resistance confluence, comprising…

Price analysis 1/13: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI

Bitcoin and select altcoins have risen above stiff overhead resistance levels, signaling that the bottoming process may have begun. Bitcoin (BTC) rose above $19,000 on Jan. 12, the highest level since Nov. 8. Although a bull market may not start in a hurry, Glassnode data suggests that the foundation for a macro bottom in Bitcoin may be in place. The on-chain analytics firm tweeted on Jan. 12 that “13% of the Circulating Supply” returned to profit when Bitcoin rallied to $18,200. This suggests a large phase of accumulation took place…

Bitcoin price wants to retest 2017 all-time high near $20K — analysis

Bitcoin (BTC) stayed near $19,000 at the Jan. 13 Wall Street open as traders hoped a week of swift gains would stick. BTC/USD 1-da candle chart (Bitstamp). Source: TradingView BTC price “breakout or fakeout remains to be seen” Data from Cointelegraph Markets Pro and TradingView showed BTC/USD crisscrossing the $19,000 mark as United States equities began trading. The pair rapidly took out sellside liquidity overnight, gapping higher to what on-chain analytics resource Material Indicators forecast could be a retest of the $20,000 mark. “Seems like BTC is setting up for…