Bitcoin bulls have not let up the pressure since breaking $7,800 just 12 hours ago. As of the time of this article’s writing, the cryptocurrency just broke past $9,000 for the first time in seven weeks. With this, BTC is up 15% in the past day.The $9,000 price point has only been printed on the…
The head of Hedge Fund Telemetry, Thomas Thorntown, has been extremely accurate at predicting Bitcoin’s tops and bottoms. By employing the Tom Demark (TD) Sequential indicator, the trading veteran has been able to forecast the direction of BTC’s trend.In mid-December 2019, for instance, while the flagship cryptocurrency fell below $6,500, Thorntown noticed the formation of…
There is no doubt Bitcoin has been adversely affected by the outbreak of COVID-19.Crypto assets, like many other mainstream asset classes, experienced a large downturn in the middle of March. It was a move in global markets based on fears that the coronavirus lockdowns could cause a widespread economic contraction, maybe even a full-blown recession.Considering…
Bitcoin is showing bullish signs above the $7,700 level against the US Dollar. BTC could start a strong pre-halving rally if it breaks the $8,000 resistance and the 100-day simple moving average.Bitcoin is following a positive path above the $7,500 pivot level against the US Dollar.The price is now facing a major hurdle near $8,000…
Bitcoin has seen some lackluster price action throughout the past few days, generally finding itself caught within a bout of sideways trading within the mid-$7,000 region as bulls struggle to surmount the heavy resistance that has been laced throughout the upper-$7,000 region.It now appears that bulls are close to turning the tides firmly back into…
Many investors and analysts have been pointing to Bitcoin’s upcoming mining rewards halving event as a reason for why the benchmark cryptocurrency is fundamentally bullish, and it certainly is a positive event from a long-term perspective.There are other key data metrics that support the theory that BTC is fundamentally strong – and maybe even undervalued…
The short-term moving average on Bitcoin’s daily chart is flattening out.The phenomenon comes after the cryptocurrency hits the highest level since mid-March sell-off.Coupled with favorable fundamentals, such as halving, the MA indicates an extended bull run towards or beyond $9,000.A lagging technical indicator that determines bitcoin’s near-term market bias has flattened out in favor of…
The past few weeks have seen Bitcoin push higher and higher every few days, establishing higher low after higher high after higher low on the back of an influx of buying pressure. But, according to a number of crypto traders, BTC is preparing to see a correction as the charts signal caution.Related Reading: Crypto Tidbits:…
Bitcoin is struggling to surpass the $7,800 resistance area against the US Dollar. It seems like BTC price could dip towards $7,600 or $7,400 before a fresh rally towards $8,000.Bitcoin made two attempts to clear the $7,800 hurdle against the US Dollar, but it failed.The price is showing a few bearish signs and it could…
Bitcoin’s rebound from its mid-March lows has led the cryptocurrency to climb up towards $8,000 – a price point that is proving to be a major resistance level for BTC.This resistance has led the crypto to face multiple harsh rejections here, although buyers have remained largely unphased due to the strength of this recent uptrend.It…