Early this week, analysts were expecting for Bitcoin to start to reverse lower. The cryptocurrency, after rallying for five weeks straight, was seemingly starting to top out, falling to $6,800 in a move that liquidated dozens of millions.But just days later, BTC pumped higher, liquidating $70 million worth of short positions on BitMEX due to…
Bitcoin is trading in a bullish zone above the $7,450 and $7,400 support levels against the US Dollar. BTC might dip a few points, but it remains well bid for a rally to $8,000.Bitcoin is showing a lot of positive signs above the $7,400 and $7,200 support levels.A clear break above the $7,650 resistance could…
After firmly securing its position within the mid-$7,000 region, Bitcoin’s bulls and bears have once again reached an impasse. This is clear while looking towards the benchmark crypto’s price action seen earlier today, when it raced to $7,800 before diving to under $7,500.This movement formed what is jovially referred to as a “Darth Maul” candle…
It’s only April but 2020 has already been a crazy year: Bitcoin crashed 50% in a 36-hour time frame, the outbreak of COVID-19 has started, the price of oil went negative as recession fears have mounted, and, according to reports, North Korea’s leader is in a condition of poor health, which has sparked a response…
Bitcoin price is once again trading at a level at which miners are making a profit from operating their expensive mining machinery, however, lower prices are still causing capitulation amongst the weakest miners with access to more expensive energy sources than the most elite.The mass capitulation is likely only to continue, as the cost of…
Just weeks ago, Bitcoin’s long-term outlook was anything but bullish. As the macroeconomy started to feel the effects of the coronavirus outbreak, global markets crashed in tandem, leaving no asset classes spared, crypto included.This culminated in the middle of March in a massive liquidation event that saw stocks, commodities, foreign currencies, Bitcoin, and even gold…
Another week, another round of Crypto Tidbits. Bitcoin has performed extremely well over the past week, managing to rally as high as $7,800, which is a pre-crash level, just the other day in a move that liquidated $70 million worth of short positions. Altcoins have been posting equally as impressive performances, with some actually managing to…
Bitcoin is entering uncharted waters as it trades against a backdrop of global economic turbulence, and so far it has held up surprisingly well – posting year-to-date gains while the equities market continues trading well below where it started the year.It now appears that the “perfect storm” for Bitcoin could be brewing, as two rapidly…
Much to the chagrin of investors, Bitcoin has formed a close correlation to the traditional markets in recent times that has exposed the cryptocurrency to significant downwards momentum throughout the past several weeks.Although BTC has been able to post some notable gains in recent times as the benchmark stock indices all stabilize, it is important…
Bull and bears are constantly battling it out on cryptocurrency exchanges and trading platforms, hoping to push Bitcoin price higher or lower, and profit immensely from whatever trades they make or positions they take.But their strategies can be easily clouded by their own bullish or bearish bias. Using just one trend line only across two…