Bitcoin has continued to push higher after a weekend dip. As of this article’s writing, the leading cryptocurrency trades for $9,450, a few basis points below the local high of $9,480.The cryptocurrency is still waiting to surmount the crucial $9,500 level. Yet, analysts say that there’s a rapidly forming Bitcoin bull case.Related Reading: Economist Steve…
Bitcoin traded as high as $9,377 before starting a downside correction against the US Dollar. BTC is currently up holding the $9,200 support and it could continue to rise steadily.Bitcoin is trading in a positive zone above the $9,200 and $9,180 support levels.The price is likely to resume its upward move above the $9,300 and…
Bitcoin futures have seen a rising premium over spot BTC in recent months, which seems to indicate that traders are bullish on the benchmark cryptocurrency.This premium is particularly clear while looking towards the CME – which seems to indicate that professional traders and institutions are particularly bullish on BTC at the present moment.This comes as…
Switching Bitcoin price charts from one type to another gives a clear as day look at what appears to be a full-blown breakout into a bull market.Better yet, the price action also shows a retest of downtrend resistance turned support, which could act as a launchpad for the cryptocurrency.Understanding Technical Analysis, Trend Lines, Subjectivity, and…
Although Bitcoin still can’t break above $10,000, nor can Ethereum overtake $250, Chainlink continues to set new record high after high. Even today, the crypto asset keeps raising the stakes on its all-time high.But as new highs are set, the price action has not only triggered but perfected a sell setup on monthly timeframes. Could…
Bitcoin dominance has been caught in a descending channel since May when it reached 69%. At present, BTC represents 64.9% of the total cryptocurrency market cap, a 10-week low.Bitcoin dominance year to date. (Source: tradingview.com)The end of last month saw the start of a sharp down leg, which has had the effect of sparking life…
Bitcoin price pulled back in the early trading session Tuesday after logging a strong opening for the weekend a day before.The corrective action appeared as the rising number of COVID cases in the US prompted the Federal Reserve to make a stark warning.The central bank said the trajectory of the US’s economic recovery would be…
Even after a healthy rally from $9,000 to a local high of $9,400, Bitcoin remains in no man’s land.The cryptocurrency is caught below $9,500 and caught above $8,500, both important levels on a medium-term time frame. Bitcoin may seem directionless as a result, as it is still anyone’s guess as to which way this range…
Bitcoin’s consolidation channel formed since the start of May has been narrowing ever since it was first established.The cryptocurrency is now trading sideways between $9,000 and $9,300, facing immense resistance at the upper boundary of this range.From a fundamental perspective, the benchmark digital asset has been seeing stagnating market health, with this being driven primarily…
Bitcoin has performed extremely well since March’s lows, rallying over 150% from the $3,700 capitulation bottom. Even after a strong $1,200 retracement from the $10,500 highs, BTC is still one of the best-performing assets of 2020.Yet a crucial indicator suggests that Bitcoin is still intrinsically undervalued, boding well for the bull case.Related Reading: Crypto Tidbits:…