3 warning signs suggest the Bitcoin price rally is overextended
It’s a classic euphoria setup on Bitcoin markets Thursday as traders flip long BTC in ever larger numbers. Bitcoin (BTC) faced fresh doubts over the strength of its bull run on Oct. 7 as analysts eyed a potential reversal of Wednesday’s short squeeze.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewFunding rates in the red zoneData from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it hovered near $54,000 after failing to establish support at the $55,000 mark.The previous day had seen an abrupt surge to highs of $55,700 for Bitcoin, which was accompanied by major....
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Ethereum saw a massive rally today that has allowed its price to firmly break above $600, which has long been a resistance level Following the break above this resistance, the cryptocurrency rallied as high as $630 before its rally got overextended and resulted in it retracing down towards $615 It is recovering from this pullback, but the price just above where it is currently trading at may persist as a strong resistance level in the […]
Bitcoin has begun to show signs of weaknesses after a crazy rally from $11,000 to $24,000. The drop has made some suggest that a strong move lower is on its way. But on a near-term basis, not everyone is convinced that Bitcoin is done rallying just yet. Bitcoin Isn’t Poised to Crash, Say Some Analysts Bitcoin has begun to show signs of weaknesses after a crazy rally from $11,000 to $24,000. The leading cryptocurrency currently […]
The price of Bitcoin may see a correction in the short term as one last barrier remains before new all-time highs. While the United States’ election is still undecided, Bitcoin (BTC) is experiencing a major rally, as BTC price nearly reached $16,000 today, the highest level since January 2018.Other asset classes have also been doing well, such as Nasdaq, which saw gains of more than 7% in recent days. In the cryptocurrency markets, Ether (ETH) has started to climb as well, with ETH hitting $445.The last weekly hurdle before a new all-time high is closeBTC/USDT 1-week chart. Source:....
CNBC “Fast Money” host Brian Kelly names three factors that could potentially cause a Bitcoin pullback to occur. CNBC Fast Money trader Brian Kelly sees three potential signs of a price top as Bitcoin (BTC) hits $19,000. Both fundamental and technical factors suggest a pullback could be imminent as the rally becomes overextended.BTC/USDT 1-hour chart (Binance). Source: TradingView.comKelly named three reasons why a short-term Bitcoin pullback might occur. The reasons were the pump of altcoins, overpriced address growth and high funding rates. On Nov. 25, he said on CNBC:“I’m still a....