Bitcoin price this week blasted off from $30,000 to $40,000 in a 25% move. Although the momentum was provided by an epic short squeeze, the leading cryptocurrency by market cap could continue to run much higher if diagonal downtrend resistance is broken. The breakout would confirm what looks like a bump-and-run reversal bottom, which according…
Bitcoin exchange reserve has fallen off a cliff, on-chain analysis shows. This behavior is usually a bullish indicator for the BTC market. Bitcoin All Exchanges Reserve Is Down As pointed out by a CryptoQuant post, the BTC all exchanges reserve indicator has surged downhill over the past couple of days. The Bitcoin all exchanges reserve…
Bitcoin has been rejected several times after a push north of the $40,000 mark. At the time of writing, BTC trades at $36,621 with a 3.2% profit in the daily and a 31.9% in the weekly chart. BTC with a strong rally in the daily chart. Source: BTCUSD Tradingview The sentiment is growing bullish, as…
Bitcoin price found support near $36,400 and it started a fresh increase against the US Dollar. BTC is showing positive signs and it could rally further above $40,000. Bitcoin remained well bid above the $36,400 and $36,500 support levels. The price is now trading well above $37,000 and the 100 hourly simple moving average. There…
After what seems like a thousand years of stability and a slight downtrend, bitcoin is back. Volatility is wreaking havoc. Trading volume seems to be picking up steam. And, more importantly, the community’s morale is climbing up. In any case, what do the data and the on-chain analysis say? Are the numbers high enough to…
Market strategist Michael Lee says that he sees bitcoin reaching new all-time highs. Lee was on Fox Business Monday in an interview to talk about his outlook on bitcoin. Lee is the founder of investment firm Michael Lee Strategy which offers wealth planning and investment management to clients. Michael Lee Strategy offers its services as…
Bitcoin has seen losses in the past day after a rejection north of the $40,000 resistance. At the time of writing, the first cryptocurrency by market cap trades at $37,598 with a 5.6% loss in the 24-hour chart. BTC with minor losses in the daily chart. Source: BTCUSD Tradingview In the weekly chart, Bitcoin records…
On-chain analysis shows huge Bitcoin outflows from crypto exchange Binance. BTC might keep the rally up and break $40k. Huge Bitcoin Outflows On Binance As pointed out by a CryptoQuant post, the crypto exchange has observed huge outflows of BTC on Monday. The Binance Outflows indicator shows the amount of Bitcoin transferred from the Binance…
Bitcoin price surged and it even spiked above the $40,000 resistance against the US Dollar. BTC is correcting gains, but it is likely to remain stable near $36,000. Bitcoin started a strong increase above the $36,000 and $38,000 resistance levels. The price is now trading well above $36,000 and the 100 hourly simple moving average.…
Bitcoin price is still trading at more than $25,000 less than the local highs set earlier in the year, and bulls have a lot of ground to reclaim. However, the lost ground might not be so bad after all, as it has brought the current market cycle a lot closer to past bull cycle comparisons,…