Switching Bitcoin price charts from one type to another gives a clear as day look at what appears to be a full-blown breakout into a bull market.Better yet, the price action also shows a retest of downtrend resistance turned support, which could act as a launchpad for the cryptocurrency.Understanding Technical Analysis, Trend Lines, Subjectivity, and…
Even after a healthy rally from $9,000 to a local high of $9,400, Bitcoin remains in no man’s land.The cryptocurrency is caught below $9,500 and caught above $8,500, both important levels on a medium-term time frame. Bitcoin may seem directionless as a result, as it is still anyone’s guess as to which way this range…
Bitcoin’s consolidation channel formed since the start of May has been narrowing ever since it was first established.The cryptocurrency is now trading sideways between $9,000 and $9,300, facing immense resistance at the upper boundary of this range.From a fundamental perspective, the benchmark digital asset has been seeing stagnating market health, with this being driven primarily…
Bitcoin has performed extremely well since March’s lows, rallying over 150% from the $3,700 capitulation bottom. Even after a strong $1,200 retracement from the $10,500 highs, BTC is still one of the best-performing assets of 2020.Yet a crucial indicator suggests that Bitcoin is still intrinsically undervalued, boding well for the bull case.Related Reading: Crypto Tidbits:…
During a hearing on the potential introduction of a digital dollar, Senator Tom Cotton claimed whatever the United States comes up with, it has to “be better than Bitcoin.”He also asserts it must be better than China’s digital yuan, which is currently in its pilot phase in the country. If it doesn’t, the dollar’s place…
The Chinese stock market has found itself caught within the throes of a fresh bull market, and it could create a tailwind that lifts Bitcoin.After facing the dire implications of the ongoing pandemic that originated within China’s borders, the country’s investors appear to be moving on, now helping to fuel a fresh bull market.The country’s…
Bitazu Capital founding partner Mohit Sorout pinpointed that the volume of Bitcoin (BTC) declined since May. While the price of the top cryptocurrency has dropped since, its volume suggests it is not entirely bearish.Due to the second rejection of Bitcoin at $10,500 this year, traders have suggested the possibility of a rounded top. The price of Bitcoin…
Bitcoin declined sharply after it faced a strong rejection near $9,200 against the US Dollar. BTC is still holding the $9,000 support, below which there is a risk of a sustained decline.Bitcoin fell sharply below $9,000, but it recovered quickly from the $8,914 swing low.The price is now facing a major resistance near $9,100 and…
Bitcoin has been caught in the throes of an unrelenting bout of consolidation throughout the past several days and weeks, struggling to garner any clear trend.Although it has technically been ranging since the start of May, its trading channel has been narrowing over the past month, with it now trading between $9,000 and $9,300.It does…
Bitcoin has collapsed under $9,000 for the umpteenth time in the past few weeks.Minutes ago, the leading cryptocurrency slipped under $9,000 for the second time in the past week. As of the time of this article’s writing, BTC trades for $8,960, having bounced $50 or so from the daily lows.Bitcoin price chart from TradingView.comBitcoin slipping…