Bitcoin’s halving is here in just one week, and the first-ever cryptocurrency is widely expected to rally as a result.But Bitcoin dominance has been consolidating at a key level. This could indicate that altcoins will soon outperform BTC with a sustained rally over the next several years.BTC Dominance Reached 0.5 Fib Level, Key Area for…
Bitcoin has seen some notable upwards momentum today that has allowed the benchmark cryptocurrency to surmount the heavy resistance that it was previously facing at $9,200.Today’s upwards breakout marks a bullish resolution to the extended bout of sideways trading that the crypto was previously facing while it hovered around $8,800 for the past several days.It…
The most recent push in Bitcoin price by bulls has resulted in the Relative Strength Index, or RSI, reaching full power.The commonly used trend-strength measuring tool hasn’t hit such overbought conditions since the June 2019 top. Does this mean that the first-ever cryptocurrency is topping out again, or is this just the start of a…
Bitcoin topped at $9,300 for the first time in a week on “halving FOMO.”The cryptocurrency’s upside move surfaced as the S&P 500 index pointed towards new gains at the Wednesday’s open on Wall Street.The gains across the board came despite concerns about the long-term impact of coronavirus on the global economy.Bitcoin prices rose on Wednesday,…
Unlike traditional assets, where many transactions are hidden, Bitcoin is almost entirely transparent. One may not know who made a transaction or who owns an address, yet people can gain access to data of transactions.It is a nearly inescapable fact that many have used to their advantage. One can analyze the data in order to get…
Bitcoin is struggling to gain bullish momentum above $9,000 against the US Dollar. BTC must climb above $9,200 to set the stage for a rally towards $10,000 in the near term.Bitcoin is trading in a broad range below the key $9,200 resistance zone.The price is consolidating above $8,800 and the 100 hourly simple moving average.There…
Bitcoin is once again in the process of peeking above the $9,000 level. The resistance that has been established at just above this price point has proven to be rather significant, as BTC has faced multiple harsh rejections at $9,200 and $9,500.Analysts are now noting that the cryptocurrency could be well positioned to see further…
Since hitting $9,500 last week, Bitcoin has entered a consolidation pattern around $9,000. The cryptocurrency has traded between $8,700 and $9,200 for days, failing to decisively break out of this range.Some say this is indicative of a market top. Yet others believe Bitcoin is poised to rally even higher, citing technical signals.One analyst even said…
Bitcoin’s long-awaited mining rewards halving is now only a mere six days away, and investors are on the edge of their seats as they wait to see what implications this may have on Bitcoin’s price from a short-term perspective.There is much debate as to whether or not it will actually have any short-term implications on…
Bitcoin has firmly established that it is trading within a relatively tight range. This comes as the cryptocurrency has been hovering within the upper-$8,000 region for several days.Each visit up to highs of $9,200 has been met with significant selling pressure that subsequently forces it lower, signaling that this is the key near-term resistance level…