Bitcoin is correcting losses and trading above $41,000 against the US Dollar. BTC could gain bullish momentum above $41,350 and $41,500. Bitcoin remained well bid above $39,250 and started a fresh increase. The price is now trading above $41,000 and the 100 hourly simple moving average. There was a break above a connecting bearish trend…
Bitcoin and Ethereum had led the market in the recent price decline. It has led to a lot of profit-taking on the part of investors that want to avoid incurring more losses in the long term. Nevertheless, investors remain undeterred as they continue to accumulate coins. The result of this has been intense outflows for…
Charts show the Bitcoin 600-day moving average (MA) has once again met with the BTC price curve, will the line act as support for the crypto once again? Bitcoin Price Curve Is Once Again Touching The 600-Day MA As pointed out by an analyst in a CryptoQuant post, the BTC price has once more dropped…
Markets are cyclical and go through alternating periods of positive and negative sentiment, with price action following the tone across the market. Although these changes appear to be difficult to predict, Bitcoin price is currently following a textbook market sentiment cycle chart from the book The Nature of Risk. If what follows in the book…
Bitcoin is consolidating above the $39,250 support zone against the US Dollar. BTC could recover if it manages to clear the $40,250 resistance zone. Bitcoin retested the $39,250 support zone and found a strong buying interest. The price is still trading below $41,000 and the 100 hourly simple moving average. There is a connecting bearish…
Data shows the number of active Bitcoin entities has been steadily going up, but the growth pattern still remains in the bear market channel. Number Of Active Bitcoin Entities Continues To Remain In Bear Market Channel As per the latest weekly report from Glassnode, the number of active BTC entities has observed a persistent user…
Bitcoin gained bearish momentum and even declined below $40,000 against the US Dollar. BTC could recover if it manages to climb above the $40,000 pivot level. Bitcoin remained in a bearish zone and extended decline below $40,000. The price is now trading below $40,000 and the 100 hourly simple moving average. There is a steep…
On-chain shows Bitcoin miner outflows have been elevated recently, suggesting miners were involved in the recent selloff that took the price of the crypto below $42k. Bitcoin Miner Outflows Spiked Up Before The Crash Below $42k As pointed out by an analyst in a CryptoQuant post, BTC miners seem to have been one of the…
Bitcoin started a fresh decline from the $43,400 zone against the US Dollar. BTC remains at a risk of more downsides below the $41,500 level. Bitcoin started a fresh decline after it failed to surpass $43,400. The price is now trading below $42,200 and the 100 hourly simple moving average. There is a key bearish…
Ricardo Salinas Pliego is the third richest man in Mexico who has been making headlines for his stance on bitcoin. The billionaire saw Elektra, a supermarket chain, become the first to accept bitcoin payments in the future. He has also been a strong advocate for investing in the digital asset as opposed to traditional assets.…