Tag: Analyst

Bitcoin can hit $40K before BTC price sees ‘harsh correction’ — analyst

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Bitcoin (BTC) faced selling pressure at the Feb. 21 Wall Street open as United States’ stock markets opened down. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView BTC price skids lower with US stocks Data from Cointelegraph Markets Pro and TradingView showed BTC/USD dipping to daily lows of $24,324 on Bitstamp. Bearish signals were already in for the pair after it saw swift rejection during its latest attempt to flip $25,000 to support. Amid suspicions over whale movements on exchanges, monitoring resource Material Indicators concluded that the 200-week moving average (MA) at…

Bitcoin active addresses ‘concern’ analyst despite 50% BTC price gains

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Bitcoin (BTC) still lacks the on-chain volume and active address increases which characterize bull markets, research warns. In a frank appraisal of the 2023 BTC price rebound, on-chain analytics platform CryptoQuant warned that Bitcoin may be weaker than it seems. Active addresses not copying bull market paradigm As on-chain metrics flip green and some even flash bull signals not seen in years, a healthy dose of suspicion remains among many analysts. CryptoQuant contributor Yonsei_dent is among them, writing in one of the platform’s Quicktake blog posts this week that 2023…

Bitcoin Primed to Rally to $56K as Nasdaq Breaks Out of Bull Flag, Chart Analyst Says

Bitcoin (BTC) has rallied nearly 50% in the first seven weeks of the year, reaching a six-month high of $24,900, with outside forces like the sentiment in traditional markets largely supportive. Recently, the crypto market and Wall Street’s tech-heavy Nasdaq index have grown resilient to the Federal Reserve’s (Fed) angst and the resulting uptick in Treasury yields. Bitcoin’s 90-day correlation coefficient with Nasdaq has increased to 0.75, indicating the two assets are moving in tandem. Source

Bitcoin eyeing ‘next big move’ which could see $19K retest — analyst

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Bitcoin (BTC) is headed to either $28,000 or $19,000 and this week could decide all, fresh analysis says. In Twitter comments on Feb. 15, popular trader Skew told followers that BTC/USD is now in a “pivotal area.” “Next big move” due for Bitcoin Despite returning above $22,000 on the back of the Feb. 14 United States Consumer Price Index (CPI) print, Bitcoin has yet to resume the blistering rally which saw it gain 40% in January. After two weeks of consolidation, however, the time to make a decision is here,…

Another ‘strong’ crypto bull run may lie ahead, thinks market analyst Filbfilb

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Cointelegraph’s Crypto Trading Secrets podcast has released its fifth episode, featuring Filbfilb, a cryptocurrency analyst and trader popular on Crypto Twitter. The crypto space has seen several bull and bear markets since the industry began with the launch of Bitcoin (BTC) in 2009. Each overarching crypto bull and bear market has primarily hinged on the price action and market cycles of Bitcoin, which makes sense, given that BTC is the largest, most established crypto asset. Filbfilb thinks the crypto industry may have another sizable bull market left, according to his…

Analyst Warns of Banks’ Authority to Confiscate Funds, Decline of US Dollar Purchasing Power – Economics Bitcoin News

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According to Lynette Zang, chief market analyst at ITM Trading, U.S. banks have the legal authority to confiscate people’s funds due to legislation passed by Congress. In a recent interview, Zang discussed how the purchasing power of the U.S. dollar has dwindled to “roughly three cents,” her belief that central bank digital currencies (CBDCs) will reinforce a “surveillance economy,” and the unalterable nature of the World Economic Forum’s proposal, known as the Great Reset. The Consequences of Bank ‘Bail-Ins,’ CBDCs, and the Great Reset In a recently published video interview,…

$20K Bitcoin may return, says analyst as US unemployment hits 54-year low

Bitcoin (BTC) fell prior to the Feb. 3 Wall Street open as fresh United States economic data came in “hot hot hot.” BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView “Think again” over U.S. recession Data from Cryptox Markets Pro and TradingView followed BTC/USD as it erased gains from earlier in the day to center on $23,000 support. The pair reacted negatively to U.S. unemployment data for January, which beat expectations so considerably that overall jobless figures fell to their lowest since 1969. Non-farm payrolls (NFP) data likewise outperformed, while average…

Bitcoin ‘so bullish’ at $23K as analyst reveals new BTC price metrics

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Bitcoin (BTC) remains firmly “bullish” at $23,000, according to new on-chain metrics from one of the industry’s best-known names. In a preview on Jan. 28, market cyclist and on-chain analyst Cole Garner revealed what he said were “backtested and validated” Bitcoin trading tools. Garner: BTC price signals should excite bulls While BTC/USD attempts to push through liquidity above $23,000, the debate rages as to whether a significant BTC price correction is due. For Garner, who offered a snapshot of several trading signals to Twitter users at the weekend, there is…

Why This Analyst Thinks Traders Should Not Be Bearish On Solana

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For traders thinking Solana is controlled by the bears, a popular crypto market analyst, Chris Burniske, is giving a fresh perspective of hope for the major altcoin.    According to the former lead of Ark Invest’s crypto department, those who think that SOL is generally bedridden in a bearish mood are mistaken. SOL Sets To Make a Breakthrough Burniske said that the Ethereum killer still has a breakthrough opportunity to rally its price despite its reverse down at a resistance level. The prominent analyst urged traders not to be extremely…

Chart analyst Katie Stockton says she remains skeptical of bitcoin’s 2023 rally

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Katie Stockton, founder of Fairlead Strategies, said Tuesday that bitcoin’s rally in the new year doesn’t look sustainable. “The positive development is that it has rallied enough to give folks an exit,” Stockton said on CNBC’s “Squawk Box.” “The catch with that is when you see such strong, very steep rallies, they are more characteristic of counter-trend moves.” After finishing 2022 down more than 60%, bitcoin has already risen about 40% year to date. The world’s largest cryptocurrency touched the highest level since August on Saturday, rising above $23,300. BTC.CB= 1Y…