Bitcoin’s recent bullishness has been thwarted by bears who have attempted to push the cryptocurrency back down to its support within the lower-$7,000 region, and it is imperative for bulls to support BTC above this region if they want to further extend their upwards momentum.Analysts are noting that Bitcoin’s current market structure does appear to…
Bitcoin price failed to extend gains above $7,700 and declined more than $400 against the US Dollar.The price is now trading below $7,400 and it declined close to the $7,260 support area.Earlier, there was a break below a contacting triangle with support near $7,500 on the hourly chart of the BTC/USD pair (data feed from…
Bitcoin (BTC) has been caught in a firm uptrend over the past several days, which has primarily been the result of the massive upwards momentum that was sparked when it tapped lows of $6,400 earlier last week.This momentum led BTC as high as $7,700 today before it was met with significant resistance that led its…
Ever since Bitcoin plummeted to lows of $6,400 last week, BTC and the aggregated crypto markets have been caught within a firm upwards tailwind that has led many investors to believe that the market’s recent lows will ultimately mark a long-term bottom.One key technical indicator that has historically predicted both the beginnings and ends of…
Late weekend trading has resulted in another minor rally for Bitcoin which has just reached resistance at a two week high. Sentiment among traders and analysts has flipped bullish again as hopes of a ‘Santa rally’ return to crypto land.Bitcoin Adds Six PercentThe weekend has been a positive one for Bitcoin with another push upwards…
Bitcoin price rallied more than 5% to clear the $7,500 resistance against the US Dollar.The price is now trading in a positive zone and it could rise further above $7,700.There is a short term breakout pattern forming with resistance near $7,590 on the hourly chart of the BTC/USD pair (data feed from Kraken).There could be…
There was a nice upward move in bitcoin price from the $6,435 low against the US Dollar.The price is now trading nicely above the $7,000 and $6,960 support levels.There is likely a bullish continuation pattern forming resistance near $7,180 on the 4-hours chart of the BTC/USD pair (data feed from Kraken).The price could decline a…
Bitcoin’s massive upwards momentum that was first incurred when BTC bounced from its recently established lows of $6,400 has begun showing signs of faltering, as buyers have been unable to maintain the momentum as bears ramp up the selling pressure.It is important to note that one technical indicator is flashing a sign that BTC may…
Bitcoin’s upcoming mining rewards halving – which is slated to occur in May of 2020 – has long been looked upon as a catalyst for next major BTC bull run, primarily due to the historical precedent of these events.In spite of this, one research group is now noting that the direct fundamental impact on Bitcoin’s…
Bitcoin’s buyers have been ardently defending the cryptocurrency’s newfound position within the $7,000 region, as it appears that selling pressure has been ramping up in the time following BTC’s surge from lows of $6,400.Although the bounce at this level was certainly a bullish sign, it is important to note that the momentum that resulted from…