Bitcoin has found itself in no man’s land. Take the chart below, which shows that over the past few months, the cryptocurrency has centered around the low-$9,000s,Chart of BTC's price action over the past four months. Chart from TradingView.comThe stagnation in the cryptocurrency market has been further accentuated by volatility indicators.Bitcoin’s historical volatility index has…
Bitcoin is trading almost 12 percent below from its local top near $10,400, but a historically accurate technical indicator hints a trend reversal.The pattern formed on Monday as the short-term moving average of Bitcoin’s hash rate jumped over the long-term moving average, signaling the beginning of a buying setup.Its previous two formations over the last…
Following the Bitcoin halving, concerns over miner capitulation have proven unfounded. The week just gone saw the network hash rate reach a new all-time high of 125 million TH/s.Source: blockchain.comSignificant pullbacks occurred in March and May, sparking fears of the beginning of a miner’s exodus. Current data shows the Bitcoin network is strong as ever.Bitcoin…
There’s been talk about Bitcoin’s “Hash Ribbons” over recent days. The Hash Ribbons is an indicator that derives signals from crosses in the short-term and long-term moving averages of the hash rate of the Bitcoin network.Crypto investors have begun to discuss it because they said it was on the verge of printing a bullish signal…
Bitcoin’s lackluster trading over the past ten weeks is showing no signs of concluding anytime soon.Although the cryptocurrency has been able to see some volatility within its long-held trading range, it has not been able to develop any clear directionality throughout the past couple of months.The price action seen between $9,000 and $10,000 as of…
As repeated time and time again by analysts, Bitcoin is currently in no man’s land. The cryptocurrency remains above the $8,500 support while below the resistance region at $10,000-10,500.Price has responded in kind, flatlining in the low-$9,000s as neither bulls and bears have managed to establish a trend. Yet a volatility analysis predicts that a…
In traditional markets, weekends pause for a moment of peace. Not Bitcoin and the rest of crypto, however.Weekends are often when the most alarming moves occur, due to relatively low liquidity and trading volume. That’s why it shouldn’t be a surprise that Bitcoin pulled a “Darth Maul” this morning and stopped out traders on both…
It seems that many crypto traders are preparing for an imminent pullback in the price of Bitcoin.The cryptocurrency once again sustained a rejection at $9,500, which quickly deflated the expectations of a bullish breakout.One crypto technician shared the image below on July 9th, showing that there was recently an influx of short positions opening. The…
Bitcoin is trading nicely above the $9,100 and $9,200 support levels against the US Dollar. BTC is forming a crucial breakout pattern and it must break $9,400 for a sustained upward move.Bitcoin is trading above the key $9,120 support level and the 100 simple moving average (4-hours).The price is facing a strong resistance near the…
Bitcoin’s consolidation phase seen throughout all of May and June is showing few signs of letting up anytime soon and has caused the cryptocurrency’s volatility levels to hit multi-year lows.Although there aren’t many overt technical catalysts for volatility in the near-term, there may be a few events that could help to shake up BTC’s consolidation phase.These…