Bitcoin price is under pressure and it recently declined below the $10,500 support against the US Dollar. The price is struggling to climb higher and is approaching the $10,200 support area. There is a key bearish trend line forming with resistance near $10,400 on the hourly chart of the BTC/USD pair (data feed from Kraken).…
As the Bitcoin consolidation continues, traders and analysts are scouring the charts again looking for the next direction. In the short term most are of mixed opinion but one analyst has predicted a big fall before any upward price momentum is resumed. Bitcoin Biding Its Time For more than two months now BTC has been…
There are a number of differing metrics analysts use to determine the health of the Bitcoin ecosystem. Hash rate and transactions are two of the most popular but distribution in terms of the number of addresses can also be used to determine adoption rates. Bitcoin Addresses Increasing Over the past two years the number of…
There was a steady rise in bitcoin price above the $10,500 resistance against the US Dollar. The price is currently correcting lower after it traded to a new monthly high close to $11,000. There is a key bullish trend line forming with support near $10,200 on the 4-hours chart of the BTC/USD pair (data feed…
Bitcoin’s recent surge up to highs of over $10,800 drastically shifted the overall market sentiment and had led many investors and analysts alike to believe that BTC was highly likely to move past $11,000. BTC’s subsequent drop from these levels, however, invalidated this perceived bullishness, and now a prominent analyst is explaining that Bitcoin is…
The total crypto market cap is climbing higher and it may soon break the $265.0B resistance. Bitcoin price is now trading nicely above the $10,600 level, with a positive angle. EOS price is currently consolidating near the $3.300 level. Binance Coin (BNB) is gaining momentum and is currently trading above the $22.25 level. BCH price…
The hype surrounding the imminent launch of Bakkt’s physically settled Bitcoin futures platform may not be unwarranted, as it now appears that some of the biggest BTC whales in the market are transferring their massive holdings into Bakkt’s warehouse custody solutions. Assuming that the platform’s launch is met with great utilization, it is highly probable…
Overnight Bitcoin (BTC) was able to incur a significant amount of upwards momentum that sent it shooting past its previously established resistance level around $10,800, and any extension of this upwards momentum is highly likely to send the crypto into the $11,000 region in the very near-future. This upwards momentum has also allowed Bitcoin to…
Bitcoin price is gaining momentum and it recently traded above $10,700 against the US Dollar. The price is currently testing the key $10,800 resistance area and it might correct a few points. There is a new bullish trend line forming with support near $10,600 on the hourly chart of the BTC/USD pair (data feed from…
While Bitcoin price action is decidedly sideways, other metrics are posting positive signals. The week is ending with BTC above five figures which is still bullish, and dominance has just tapped another new high. Bitcoin OI Hits a High By definition, open interest is a measure total number of outstanding derivative contracts, such as futures…