Will bulls take charge now that Bitcoin price trades above a long-term trendl...
Bitcoin bulls celebrated BTC’s push through a long-term trendline resistance, but has anything actually changed? On Oct. 4 and 5, Bitcoin (BTC) took another step through the $20,000 mark, bringing the price above a long-term descending trendline that stretches all the way back to April 22 or Nov. 15, depending on one’s style of technical analysis.Some traders might be feeling a bit celebratory now that the price trades outside of the descending trendline, but have any relevant metrics or macro factors changed enough to support a bullish point of view for Bitcoin price? In reality, BTC....
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Ethereum has undergone a strong drop from its year-to-date highs at $490. The coin currently trades for $375, around 25% below those highs. At the worst of the correction last month, the coin was down even further. Ethereum remains bullish on a long-term basis as long-term trends favor bulls, analysts say. One trader recently shared a chart indicating that both the technicals and fundamentals favor bulls. Three Ethereum Trends Suggest the Coin Is Primed to […]
Bitcoin price could be ready to resume its climb now that this area of interest held as support. Bitcoin Price Technical Analysis. Bitcoin price recently made an upside breakout from a near-term resistance around $660. Price has found resistance at the $670 area and has since pulled back to the broken resistance, which appears to have held as support. This signals that bitcoin bulls could be ready to charge once more, although technical indicators are suggesting otherwise. Technical Indicators Signals. The 100 SMA is still below the longer-term 200 SMA so the path of least resistance is to....
A powerful upward trend following a long flat is a natural pattern. Bitcoin’s price has reached a long-term resistance line. Will that provoke a decline? Will Bitcoin continue its long-term rise? The market’s inability to turn about at the top limit of the long-term flat has provoked a powerful upward impulse. The bears have given up on their positions and Bitcoin’s price has headed towards the next key level of $445-50. There can be a rebound in the long term, given that the price is at a point where a larger cycle is usually formed. If the bulls still manage to hold the advantage, even....
The Spring has ended with Bitcoin exiting a flat, which has been there for more six months. Will that cause a continued long-term growth, or was it a false breakthrough? The long-term upward trend is continuing. After fortifying at the top limit of the long-term flat, Bitcoin’s price underwent a powerful upward impulse. Such movements usually appear when one of the development scenarios becomes unrealistic. A turn was needed around $450, in order for the long-term flat to continue. In that case, Bitcoin’s price would fall to the bottom limit of the flat, around $360-90. A turn to decline....
Bitcoin has reached a significant long-term resistance line. At that level the market will decide upon medium- and long-term directions. Will there be a downward rebound before a new direction is chosen? Continuing its movement along the upward trend, Bitcoin’s price has reached an important resistance line. That level is significant for traders with both long- and medium-term positions. That’s why the future movement of long- and medium-term trends will be decided at around the level of $445-50. In regards to short-term scope, for the upward trend to make a turn, Bitcoin’s price has to....