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…
Ahead of Bitcoin’s block reward reduction or “halving,” BTC has performed extremely well.As this outlet reported previously, the cryptocurrency just printed its seventh consecutive week of gains. This is a technical feat last seen in April 2019, prior to the 300% bull market of that year.Calls have been mounting for Bitcoin to pullback, with Bloomberg…
Bitcoin’s intense upwards momentum has stalled as the cryptocurrency enters a firm bout of consolidation within the upper-$8,000 region. This has come about in the time following the multiple firm rejections the crypto posted within the lower-to-mid $9,000 region.It now appears that these rejections have caused the crypto to form some incredibly bearish divergence that…
Interest on the Chicago Merchantile Exchange – otherwise known as CME Group – in Bitcoin futures contracts, has reached a record high.However, each time this has happened in the past it’s marked a local top. Will this latest achievement in open interest on CME cause yet another price drop across the crypto market?CME Bitcoin Futures…
Bitcoin faces risks of a short-term, but steep downside correction as Donald Trump threatens to terminate the phase one deal with China.Investor fears that a new trade war with Beijing would escalate the global economic crisis further amidst the Coronavirus-induced lockdown.Losses in the Wall Street index in March influenced traders to liquidate their bitcoin positions…
After a nearly 20% surge last week, Bitcoin’s weekly candle on Sunday evening closed decisively green at $8,900.This marked the seventh consecutive weekly gain for BTC, which has posted stellar performances ever since the mid-March capitulation lows.Although the seven consecutive weeks may mean nothing to readers, it is a strong technical occurrence that may signal…
Bitcoin is struggling to gain bullish momentum above $9,200 against the US Dollar. BTC price is currently declining and it could continue to slide towards $8,400 or $8,200.Bitcoin is facing an increase in selling pressure below $9,200 and $9,000.The price is trading below the 100 hourly simple moving average and it could dive towards $8,400.There…
Bitcoin’s highly anticipated mining rewards halving is only eight days away, and cryptocurrency investors have long been debating what the short-term impacts of this event will be.In the long-term it is unquestionably bullish due to it causing a 50% annual inflation reduction for BTC, but the short-term impacts are highly speculative, and limited data sets…