Bitcoin has been on an impressive run over the past few weeks, mounting past resistance after resistance despite a harrowing macroeconomic backdrop. Since the March lows of $3,700, BTC is up 150%, a stellar performance that puts almost any other $100 billion+ asset to shame.Although impressive, Bitcoin continuing to set new local highs and holding…
After trading below $9,000 ever since the blow-off top on Wednesday, Bitcoin has been subject to a strong recovery over the past couple of days, culminating in a breakout seen this past hour.The cryptocurrency, as of the time of this article’s writing, is trading for $9,150 — more than 9% higher than the post-rally lows…
The price action over the past few days has undoubtedly been positive for Bitcoin. Case in point: the cryptocurrency ripped over 20% higher from the mid-$7,000s to a price as high as $9,500 over the course of 48 hours.Prices have since consolidated at $8,800, with BTC finding itself stuck between support around $8,500 and resistance…
Chainlink is joining forces with Smart Chain Arena and Cryptonomic to provide the Tezos developer community with real-time data feeds via its decentralized oracle network. Now, anyone building smart contracts on top of the Tezos protocol will be able to access off-chain resources and use this data within their on-chain applications.“Providing Tezos developers with the…
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…
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…
A reoccurring theme in many Bitcoin analyses over the past few weeks has been mentions of a “rising wedge.”For those unaware, a rising wedge is a common chart pattern marked by a strong uptrend. Although this uptrend may seem bullish from a top-down perspective, rising wedges are textbook reversal patterns.Per Investopedia, this form of technical…
The past 24 hours have been explosive for the Bitcoin market. Ever since breaking past $7,800 on Wednesday morning, the cryptocurrency has been in a nearly unstoppable uptrend, rallying past resistance after resistance in the $7,000s, $8,000s, then most recently, the ever-important $9,000 level.This steep uptrend comes on the back of an influx of buying…
Bitcoin bulls have not let up the pressure since breaking $7,800 just 12 hours ago. As of the time of this article’s writing, the cryptocurrency just broke past $9,000 for the first time in seven weeks. With this, BTC is up 15% in the past day.The $9,000 price point has only been printed on the…
The head of Hedge Fund Telemetry, Thomas Thorntown, has been extremely accurate at predicting Bitcoin’s tops and bottoms. By employing the Tom Demark (TD) Sequential indicator, the trading veteran has been able to forecast the direction of BTC’s trend.In mid-December 2019, for instance, while the flagship cryptocurrency fell below $6,500, Thorntown noticed the formation of…