Another week, another round of Crypto Tidbits. Bitcoin has been one of the best-performing assets in financial markets over the past week, managing to rally as high as $9,500 — over 25% higher where it started this week. Altcoins, interestingly, have underperformed the market leader, with Ethereum and XRP both gaining around 10% over the past…
The cryptocurrency margin trading platform that once enjoyed the crown across the industry, has just reached a historical low on the platform’s now-notorious Bitcoin open interest.According to data, the once industry leader has been on a downward trajectory ever since the Black Thursday collapse that not only crushed Bitcoin prices, but may have put a…
Last night’s Bitcoin monthly April candle closed as a bullish engulfing, often considered a reversal candle by traders and analysts.Bulls must beware, however, as one of the most respected top technical analysts recommends not trading this setup when the primary trend is down, as more often than not it leads to another devastating crash.Bitcoin April…
Bitcoin’s insane rally yesterday that allowed it to climb nearly $2,000 at its peak has stalled, with the retrace from its daily highs of $9,500 printing a massive wick that has made its daily candle look quite bearish.Analysts are now noting that a myriad of different technical factors suggest that the cryptocurrency may be poised…
Although Chainlink has been one of the most bullish cryptocurrencies throughout 2019 and 2020, its short-term price action has lagged against that of Bitcoin and many of its other peers.The crypto is flashing some signs of immense short-term weakness after its bullish divergence was “destroyed,” leading some analysts to now watch for a significant pullback.This…
The latest rally in Bitcoin has caused the Relative Strength Index to reach shocking highs. Such a reading would typically indicate a pullback is due, however, it can also be a signal that the bull market is back in full force.Comparing the RSI to past Bitcoin bear and bull cycles, provides clues as to what…
Two separate charts taking a top-down view across the wider crypto market may provide clues as to where the altcoin asset class is headed.Each chart shows that altcoins are at potentially their most critical moment yet, and are facing the most important weekly close yet at the end of this week.Altcoins Start 2020 Strong, But…
Bitcoin popped towards its two-month high early on Thursday, breaking above $9,400 amidst halving hype.But the cryptocurrency failed to secure its intraday gains as it corrected lower by about $937 from the local top.The pullback started at the same level that has been capping bitcoin’s upside attempts since the 2017 bull run.It was a glorious…
The crypto market has been able to add on over $20 billion to its total capitalization, with the upswing seen today by Bitcoin and many of its smaller counterparts marking a full erasure of the losses incurred during the mid-March meltdown.The significance of today’s price action extends far beyond just boosting the market’s technical strength,…
The uptrend that Bitcoin has been caught within in the time following its capitulatory decline to lows of $3,800 appears to have reached a boiling point earlier this morning when the benchmark crypto printed a massive $1,000 candle.This came about as the crypto rocketed from lows of $7,700 to highs of $8,800 – a major…