This Signal Could Suggest Latest Bitcoin Rally Was A Bull Trap

Bitcoin price rebounded hard from $10,000 and in a flash already found itself back above $11,000. Thus far, the key level couldn’t hold, and now signs are appearing that could suggest the rally was noting more than a bull trap and retest of resistance turned support. TD Sequential Indicator Gives Bull Trap Warning With Perfected TD 9 Sell Setup This week, Bitcoin blasted back above $11,000 but failed to hold the critical zone as it did the last time the cryptocurrency had a stretch of extended intraday upside. At the…

Ethereum Could Rally Sharply As Double Bottom Pattern Emerges

Ethereum declined recently, but it stayed above the key $355 support against the US Dollar. ETH price is likely to accelerate higher as it seems like a double bottom pattern is forming near $355. Ethereum declined below the $370 support, but it stayed above the $355 support. The price holding the main $355 support, but it is below the 100 hourly simple moving average. There is a connecting bearish trend line forming with resistance near $370 on the hourly chart of ETH/USD (data feed via Kraken). The pair must stay…

Binance Coin Jumps 17% Rally by Mid-September; Could It Hit $40?

Binance Coin (Symbol: BNBUSD) is the only top tier cryptocurrency that has returned profits to its investors in the first half of September. The seventh-largest crypto by market capitalization was up by circa 17 percent, trading at $29.07 as of 1023 GMT, Tuesday. At the same time, other leading cryptocurrencies, including Bitcoin, Ethereum, and XRP, were trading 10-20 percent below zero. Beating Ethereum At its month-to-date high, Binance Coin was trading at $34.05, up by almost 47.04 percent. The cryptocurrency’s surprising upside move came amidst growing demand for Binance Chain.…

Dow Jones and Nasdaq Jump on COVID-19 Vaccine News, Stock Rally

As of midnight Eastern, Dow Jones Industrial Average futures were up around 300 points, or 1%, while S&P 500 futures jumped 1.2% and Nasdaq-100 futures gained 1.5%.  Last week was replete with corporate deals and positive COVID-19 vaccine news. Due to this activity, there appeared hopes battered stocks would recover and the rally began. On Monday, major market indexes rose. The S&P 500 (INDEXSP: .INX) rose 1.27%, or 42.57 points, to 3,383.54 after its worst week since June. The Nasdaq Composite (INDEXNASDAQ: .IXIC) added 1.87%, or 203.11 points. As a result,…

U.S. Presidential candidate served for alleged securities fraud at rally in NYC

Presidential candidate Brock Pierce was served for his connection to alleged securities fraud during his campaign rally in New York City earlier today. Source: Twitter. James Koutoulas, the lawyer leading this case, told Cointelegraph that Pierce was served legal documents in connection with a class action case against Block.One — a company that Pierce co-founded. Block.One was the company behind EOS’ $4 billion initial coin offering. The project’s ICO was the largest such offering to date. Brock Pierce has co-founded a number of crypto projects including Block.one, Tether, and Blockchain Capital.…

Does Bitcoin’s Ongoing Rally Have Legs? Here’s Why Analysts Think It Does

Bitcoin is pressing higher after a $300-400 correction on Sunday morning. The leading cryptocurrency currently trades at $10,400 as of this article’s writing, around $200 from the lows. This comes after the leading cryptocurrency printed a pivotal weekly candle close above $10,000. $10,000 has long acted as an important horizontal level for Bitcoin, having marked three separate highs over the past year. Analysts think that Bitcoin’s ongoing rally may have legs despite it being so nascent and relatively small. One sign that this is the case is the price action…

Ripple (XRP) Above This Confluence Resistance Could Spark Fresh Rally

Ripple retested the $0.2380 support zone against the US Dollar. XRP price is likely to start a fresh rally once it clears the 100 hourly SMA and the $0.2460 resistance region. Ripple is recovering higher after tagging the key $0.2380 support zone against the US dollar. The price is trading near the $0.2420 resistance and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $0.2430 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair must…

Here’s Why An Analyst Thinks the Ongoing Bitcoin Rally Is “The Real Deal”

Bitcoin has begun to press higher despite weakness in legacy markets. The price of the leading cryptocurrency is currently at $10,470 despite reaching lows of $9,800 earlier this week; also, altcoins have begun to surge, suggesting that this is once again a buyer’s market. BTC is moving above pivotal support levels during this slight rally. While some think this is an upward fakeout, there are signs that this may be the start of a rally that takes Bitcoin back to $11,000. Here’s why. Related Reading: CNBC’s “Mad Money” Host Jim Cramer…

Analyst: Latest Bitcoin Rally Doesn’t Look Like a Bull Run

Bitcoin just crashed from $12,000 to $10,000 in the matter of a few days, and it has since been a battle for bulls to hold ground at $10,000. Unfortunately, bears may end up winning this battle, as the latest rally according to one crypto analyst, doesn’t at all look like a “bull market.” When comparing the price action against past bull cycles, the claim makes sense. However, another perspective on the same take could say otherwise. Here’s a look at the two conflicting theories so you can decide for yourself:…

YFI Forms a ‘Golden Cross’ Pattern Following 38% Rally

As YFI trades 25 percent below its record high, there is an interesting bullish pattern for traders to consider. That is ‘Golden Cross,’ a telltale technical indicator that suggests that the price of the underlying asset would rise in the future sessions. The pattern comes to life when an asset’s short-term moving average jumps above its long-term moving average. Depending on the timeframe of the moving averages (or MA), a Golden Cross can be both a lagging and leading indicator. YFI witnessed a bullish crossover between its 20-period MA and…