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…
Bitcoin price has been in a downtrend for nearly two years now, with only a short-lived rally in Q2 2019 giving crypto investors a break from the bear market.However, a long-term momentum indicator is about to flip bullish on Bitcoin price charts, and it could signal that a major trend change is about to take…
Now just over two weeks out is 2020’s Bitcoin block reward reduction, also known as a “halving.” It’s an event that has become the topic of conversation for many watching the cryptocurrency space. The halving has become so hyped, in fact, that an extensive article on the subject was recently featured on Bloomberg’s Terminal.With the…
Bitcoin is up 2% and it broke the $7,600 resistance area against the US Dollar. However, BTC price is likely to face a strong resistance near $8,000 in the near term.Bitcoin is showing signs of exhaustion above $7,500 and $7,600 against the US Dollar.The bears are likely to put a strong fight near the $8,000…
Bitcoin has performed extremely well over the past few days, rallying from last week’s lows at $6,800 to a high of $7,800 on April 23rd. It was a move that liquidated dozens of millions of dollars worth of short positions and convinced analysts to put credence in the BTC bull case.According to a popular crypto…
Bitcoin has been on a remarkable run over the past few weeks, rallying over 100% from March’s lows around $3,700. It’s been an impressive move that has liquidated dozens of millions of dollars worth of shorts.But even after more than 100% in gains, analysts are convinced that BTC has more upside. One fund manager, in…