Bitcoin Price Expansion To $97,000 Is Only Being Blocked By One Pesky Retest
The latest Bitcoin move has brought bulls back into control of the short-term chart, but the setup is not as straightforward as a clean breakout into higher prices. The 4-hour structure shows momentum building, trendline support holding, and buyers pushing through to higher highs. However, the path to a much larger expansion still appears to have one unfinished step. The technical chart implies Bitcoin may need to revisit an important area before the next major move to at least $97,000 can develop properly. Bitcoin Breakout Leaves One Important Level Behind Technical analysis of....
Related News
Diplomat and founder of the TRON network, Justin Sun, confirmed that one of his addresses was blocked from using the Ethereum decentralize finance (DeFi) protocol Aave. Via Twitter, Sun claimed that he received 0.1 ETH from Tornado Cash leading to his address being added and blocked by the protocol. Related Reading: Crypto Billionaire Sam Bankman-Fried, […]
Ethereum spent the summer months easily outperforming Bitcoin, but that trend reversed as soon as the fall months hit. The change in tune towards the DeFi trend helped take the second-ranked cryptocurrency down to retest resistance turned support. The bullish retest has since held, and it could take the altcoin back to retest highs on […]
CANTV, Venezuela's state-owned and largest Internet service provider, has blocked, as of this morning, many Bitcoin-related domain names, websites and mining pools, according to Redditor rdymac. Among those confirmed to be blocked by the redditor are: coindesk.com; blockchain.info; blinktrade.com; surbitcoin.com; miningrigrentals.com; nicehash.com; btc-e.com; coinapult.com; coinbase.com. Venezuela's two local exchanges have also been blocked by CANTV, according to the redditor. The ISP is CANTV, managed by the institution CONATEL, and is very well known by their blockades to any website....
As the market recovers, Bitcoin (BTC) is kicking off the weekend on a positive note by reclaiming another crucial support level. Some analysts suggest that the cryptocurrency is setting the stage for a new price discovery rally, which could start sooner than expected. Related Reading: Solana (SOL) ‘Uptober’ Begins With $220 Retest – Is It Ready For Second ‘Expansion Wave’? Bitcoin Eyes Third Price Discovery Uptrend On Friday, Bitcoin jumped nearly 3% to hit a two-month high of $123,894. The flagship crypto has seen a massive recovery from last week’s correction, surging 14% from the local....
Earlier today, in the first of our twice-daily Bitcoin price watch pieces, we documented the breakout above $400 we saw last night. Traditionally, strong psychological levels (such $100, $200, $500, $1,000 etc.) will initiate the kind of volatility we saw on the break, and when they are broken to the upside, will often retest as support. Conversely, but similarly, when a key level breaks to the downside, it will often retest as resistance. In this instance, however, we've not seen this retest. Price has stayed buoyant despite the inevitable run of profit taking, and this suggests there is....