Tag: Analysis

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…

Price analysis 1/11: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI

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Bitcoin and altcoins are extending their rally and traders are hopeful that the gains will push higher after this week’s consumer price index data is released. Crypto and stock markets are usually forward-looking. Meaning, traders tend to ignore the near-term negatives and focus on the positives down the line. With Bitcoin’s (BTC) next halving in 2024, analysts are shifting their attention to this event. Independent market analyst Rekt Capital highlighted this unique market dynamic in 2015 and 2019, a year before halving, Bitcoin rallied 234% and 316% respectively. If history…

Price analysis 1/9: SPX, DXY, BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, LTC

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DXY is cooling off and crypto and equities are starting to heat up. Cointelegraph explores how BTC and altcoins could react to the current bullish momentum in the market. Investors across asset classes have been keeping a close watch on the United States Federal Reserve’s monetary policy because that sets the stage for a risk-on or a risk-off environment.  The strong rally in the U.S. stock markets on Jan. 6 and in cryptocurrencies over the weekend suggests that market observers anticipate the Fed to slow down its frantic pace of…

Price analysis 1/6: BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT, LTC, UNI

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A rally in equities markets is providing support to BTC and altcoins, but bulls will likely struggle in keeping the momentum needed to turn overhead resistance levels to support. The United States December nonfarm payrolls report showed a growth of 223,000 jobs, above the market’s expectation of an increase of 200,000 jobs. While this shows that the economy remains strong, market observers shifted their focus to the slower wage growth of 0.3% for the month, below economists’ expectation of 0.4%.  In addition, the euro zone’s headline inflation dropped from 10.1%…

Price analysis 1/4: BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, DOT, LTC, UNI

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Bitcoin and select altcoins are showing signs of starting a sustained recovery over the next few days. Gold made a strong start to the new year and is trading close to a seven-month high on expectations that the United States Federal Reserve may slow down and hike rates only by 25 basis points in its next meeting on Feb. 1.  Cryptocurrency markets have also shown a mild uptick but are yet to make a decisive move higher. One of the reasons could be renewed fears regarding Digital Currency Group’s liquidity…

Price analysis 1/2: SPX, DXY, BTC, ETH, BNB, XRP, DOGE, ADA, MATIC, LTC

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The DXY has turned bearish and that could prove to be a boon for SPX, cryptocurrency and Bitcoin. The S&P 500 index (SPX) fell 19.4% and the Nasdaq nosedived 33.1% in 2022, recording the worst performance since 2008. The crypto markets also had a horrendous year with Bitcoin (BTC) falling roughly 65% in 2022. In comparison, the United States dollar, which is perceived to be a safe haven, rallied nearly 9%, its best year since 2015. There are several green shoots visible for the cryptocurrency sector for 2023. The U.S.…

Chiliz (CHZ), Cardano (ADA) and Orbeon Protocol (ORBN): Analysis of a Potentially Disruptive Trend in the Crypto-Market

Place/Date: – January 1st, 2023 at 10:00 am UTC · 3 min read Source: Orbeon Protocol The crypto market is constantly changing and evolving, making it difficult to keep track of the latest trends. Recently, a new trend has emerged that could potentially disrupt the market – the emergence of the Orbeon Protocol, the crypto darkhorse who has seen price climb 805% and the exodus of holders from projects such as Chiliz and Cardano. Chiliz (CHZ) Chiliz is a blockchain-based platform that provides an easy and secure way to access,…