Bitcoin Price Update: Another Bull Run Appears (and Hoping to Disappear)
Just a few hours before, Bitcoin price topped up to a new intraday peak (at $266) and is now hinting to flatten out, as what normally happens. The price is now attempting to build up a new base near this new tropospheric level, while facing a firm selling pressure towards the next downside support near 260. The traders meanwhile are already drawing fundamentals near this wild rally. Many believe the launch of Barry Silbert's Bitcoin Investment Fund had influenced the demand of Bitcoins; therefore the rally. Some are also associating the upcoming Silk Road Bitcoin auction to be the cause of....
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Following up on the weekend look at Bitcoin’s long term price chart, we will look again today at the long term (8 day candle) chart of BTC, per Kraken. Over the weekend we looked at a Bull Setup. As we saw, that setup suggests a bull move that will likely last several more months. But of course, it goes without saying that there are both bulls and bears in the market at pretty much any given moment. I expect that is well understood by everyone reading this article. So, it is not enough to just look at a bull setup as we did in my last article. We want to gauge bear strength also. So let’s....
The APE price upside setup appears amid rumors that Robinhood might list ApeCoin. ApeCoin's (APE) market valuation could grow by nearly 250% in the second quarter of 2022 as it breaks out of a widely-tracked, classic technical pattern.APE price "bull pennant" breakout underwayOn April 13, APE's price broke above the upper trendline of what appears to be a "bull pennant" chart pattern.Bull pennants appear when the price consolidates inside a triangle-like structure following a strong uptrend. Many traditional analysts consider them as continuation patterns, for they typically result in the....
Analysis of sellers' profits this week increasingly points to an imminent return to upside for BTC/USD. Bitcoin (BTC) hodlers hoping for a return to the bull run may not have long to wait, as a popular indicator gives cause for optimism.As compiled by on-chain monitoring resource Glassnode, data from the Bitcoin spent output profit ratio (SOPR) suggests that the current BTC price correction is almost complete.BTC price correction should end "soon"The SOPR tracks the percentage of coins being moved that are in profit — in other words, whether hodlers are selling at a profit or loss.When the....
The Bitcoin price has been experiencing a series of price fluctuations for two years now. The cryptocurrency has been on a bullish threshold multiple times but has failed to hold a bullish momentum for long. Nevertheless, a Bloomberg analyst has predicted an unfeigned bull run for BTC, but the potential uptrend comes with certain factors and conditions. Investors Prepare For Possible Bitcoin Bull Run The slow growth of Bitcoin price has left investors and crypto enthusiasts hoping for a potential bull run since its crash in 2022, which saw the cryptocurrency dropping from $46,000 to below....
The Hourly Bitcoin price on Bitstamp: ignoring the wicks gives the appearance of a possible bullish flag. Since my last update, the Bitcoin price fell down the stairs, rolling then bouncing at the 820 and 800 levels I mentioned. Price then sunk all the way to the 765 danger level I sign-posted as bear territory. Bears left brief clawmarks at that level before bulls emerged to chase price back up. Looks like we're now back to the middle of the channel, and sideways remains the direction. The question is whether this latest move will spark a trend that carries us higher for another bash at....