The Bitcoin price is steadily trading above critical support levels and might extend its bullish trend in the coming days. The cryptocurrency positively reacted to the current macroeconomic conditions despite the U.S. Federal Reserve (Fed) promising to keep hiking interest rates. At the time of writing, the Bitcoin price trades at $20,700 with a 3%…
In this episode of NewsBTC’s daily technical analysis videos, we examine major Bitcoin price troughs with Hurst Cycle Theory and cyclical tools to consider if the bottom could be in and if another bubble is coming. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): November 7, 2022 Bitcoin Cyclical Behavior Analyzed…
The previous week’s crypto market looked so bullish as many altcoins rallied with over 100% gains in less than two days, with the likes of DOGE, BAND, and MASK running the show creating the feeling of euphoria that comes with the bull market. The price of Bitcoin (BTC) closing the week on a high ahead…
Bitcoin has declined below $21k during the past day as on-chain data shows signs of long-term holders harvesting profits. Bitcoin Long-Term Holder SOPR Has Spiked Up In Recent Days As pointed out by an analyst in a CryptoQuant post, profit-taking from long-term holders has previously been followed by local tops in the price of the…
On-chain data shows the Bitcoin funding rates have now hit a 6-month high, something that could lead to a long squeeze in the market. Bitcoin Funding Rates Currently Have A Highly Positive Value As pointed out by an analyst in a CryptoQuant post, BTC funding rates have surged up to the highest for the last…
BTC’s price needs to stay above $20,500 for the price to have a chance to rally high to a region of $22,500. BTC’s price continues to trend, creating a more bullish bias as the price aim for $22,500, where the price could face resistance. BTC’s price remains strong, holding key support on the daily timeframes…
The Bitcoin and crypto market is kicking off what could be an extremely important week. While the market is currently overwhelmed by the news surrounding the battle between Binance CEO Changpeng Zhao (“CZ”) and FTX CEO Sam Bankman-Fried (“SBF”), the midterm elections and the release of the CPI data in the US are two major…
Bitcoin price traded to a new monthly high at $21,469 before it started a downside correction. BTC could drop towards $20,600 before it starts a fresh increase. Bitcoin gained pace above the $21,000 resistance zone before it faced sellers. The price is trading above $20,500 and the 100 hourly simple moving average. There is a…
Dogecoin, earlier today, once again initiated a rally that enabled it to go up by 6% in just 24 hours, peaking at $0.127. But as hours went by, DOGE lost some of its momentum as it is now trading at $0.122 according to tracking from Coingecko. Here’s a quick look at the meme coin’s performance:…
Ethereum is currently at the mercy of sellers that could put a huge dent on its bullish momentum and pull it back to the $1,500 region, or even lower. The king of all altcoins took advantage of the crypto market’s late October push, surging all the way to $1,655. It tried to move past this…