Tag: Analyst

Bitcoin Loses Historical Level, Analyst Says “Reclaim And Bounce, Or Die”

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An analyst has pointed out how Bitcoin recently closed below a historically important on-chain level, a failure to reclaim which could spell trouble for BTC. Bitcoin Fell Below Short-Term Holder Cost Basis In Latest Crash In a new post on X, Maartunn discussed BTC’s recent close below the realized price of the short-term holders and stressed its importance in reclamation. The “realized price” here refers to an on-chain indicator that tracks the price at which the average investor on the Bitcoin network acquired their coins. In other words, it measures…

Dogecoin Breaks Out Of Descending Triangle Like It Did In 2021, Analyst Sets $6 Target

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The Dogecoin price action seems to have turned bearish after a bearish close to April. Projections for the meme cryptocurrency are not bullish in the short term, especially considering the fact that it is now experiencing a 47% price correction from its highest point in the current market cycle. Despite its recent plunge, one analyst believes all is still well with Dogecoin, and the crypto asset is only gearing up for a bull run into new price territories.  Dogecoin Repeating Behavior From Previous Bull Run According to a recent analysis…

Crypto Analyst Says Bitcoin Must Hold Above $51,800 As ETF Outflows Trigger Crash

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The Bitcoin price continues to trend below $60,000 as a 20% decline triggered a brutal market-wide crash. This has exposed multiple critical support points for the cryptocurrency, some of which the price has already fallen below. In light of this, a crypto analyst known as Norok has revealed the level the BTC price must not fall below to maintain its bullish trend. Bitcoin Price Must Hold Above $51,800 In an analysis posted on the TradingView website, crypto analyst Norok revealed that $51,800 is now the most important support level for…

Bitcoin On Track For $1 Million Per BTC “Fair Value”, Analyst Says

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An analyst has explained how the “fair value” of Bitcoin appears to be on track to achieve the $1 million milestone by 2035. Bitcoin Total User Count Could Forecast Fair Value Path Forward In a new post on X, analyst Willy Woo has discussed about how the fair value of Bitcoin could look like in the future based on the growth curve in the total user count on the network. The “total user count” here refers to the total number of investors present in the BTC space. Often, this metric…

Analyst Identifies Trends Reflecting 2016 Cycle

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Cryptocurrency analyst Rekt Capital has come up with an intriguing narrative pointing to several trends in the current price action of Bitcoin that are similar to the price trends seen in the 2016 bull cycle, even as market sentiments continue to dwindle.  Bitcoin Trends Reiterating 2016 Pattern According to Rekt Capital, more than a month after the initial analysis, Bitcoin keeps demonstrating how much it closely resembles the cycle of 2016. Similar to 2016, Bitcoin has experienced further declines over the past three weeks following the Halving below the Range…

Crypto Analyst Predicts 244% Shiba Inu Rally Based On Bull Flag

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An analyst explained how Shiba Inu could be heading towards a massive rally based on a bull flag pattern that forms in its daily chart. Shiba Inu Has Been Consolidating Inside A Bull Flag Recently In a new post on X, analyst Ali has discussed about a bull flag that has recently appeared in the daily price of Shiba Inu. The bull flag is a pattern in technical analysis (TA) that, as its name suggests, is shaped like a flag on a pole. The pattern forms when an uptrend is…

Bitcoin Bull Run Over? Analyst Predicts What To Expect Now

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The recent plummet in Bitcoin’s value below the $60,000 mark has sparked widespread speculation within the crypto community, raising questions among investors and market watchers about the future direction of its price. Marco Johanning, a well-known crypto analyst and founder of The Summit Club, took to X (formerly Twitter) to provide his insights on the current market conditions and what might be expected next. According to Johanning, the recent price action does not signify a market downturn but rather a correction within an ongoing bull market. He emphasizes, “Bitcoin lost…

Bitcoin Dominance Peaked, Says Analyst, Altcoins to Take Charge?

CoinspeakerBitcoin Dominance Peaked, Says Analyst, Altcoins to Take Charge? The world’s largest cryptocurrency Bitcoin has come under strong selling pressure extending its weekly losses to more than 10%. Soon after the FOMC meeting on Wednesday, May 1, Bitcoin (BTC) price tanked another 5% dropping to the lows of $56,500, before bouncing back partially. Popular crypto analyst Michaël van de Poppe recently stated that the “Bitcoin dominance has already peaked” while it’s time for altcoins to shine. “Altcoins start to wake up in their Bitcoin pairs, which means that the rotation…

Buy Dogecoin Now? Analyst Believes DOGE Is Primed For A Surge

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In an analysis shared via X, crypto analyst Ali Martinez elaborated on the ongoing price correction of Dogecoin (DOGE), positing that it is a consistent precursor to major bull runs, drawing on historical patterns to forecast future price movements. Martinez’s commentary centers on the chart pattern known as the “descending triangle.” This is a bearish formation that occurs when the price follows a downward trendline intersecting a flat support line. Typically, this pattern indicates a continuation of a downward trend, but in the context of Dogecoin, Martinez suggests it precedes…

Bitcoin Bottom Out? Analyst Signal Turnaround Amid Market Slump

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Bitcoin has recently concluded April, marking its most significant monthly decline. Despite the bearish momentum, leading market analysts, including Michael van de Poppe, believe that the worst may soon be over, suggesting that Bitcoin is nearing the end of its current correction phase. Bitcoin At The End Of Correction? April was challenging for Bitcoin, as its value plunged nearly 20%, dipping below $57,000, the lowest level traded since late February. This drop is part of an intense market sell-off that has slashed the combined cryptocurrency market cap by nearly 10%,…