Bitcoin Price Dips Yet Stays Positive: Market Sentiment Remains Upbeat
Bitcoin price extended its increase above the $67,500 resistance. BTC tested the $68,000 resistance and is currently correcting gains. Bitcoin started a downside correction after it climbed toward the $68,000 resistance zone. The price is trading below $67,000 and the 100 hourly Simple moving average. There was a break below a connecting bullish trend line with support at $65,900 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start another increase unless the bears push it below $65,900. Bitcoin Price Starts Downside Correction Bitcoin price remained stable....
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Bitcoin price as forecasted in the last weekly analysis started to trade higher. If the current sentiment stays, BTC/USD can test $470. Bitcoin Price- Buying dips? Bitcoin price climbed higher this past week and traded towards the $470 resistance area against the US Dollar. The best part of the upside move was the fact that the price settled above the 100 simple moving average on the 4-hours chart (data feed from Bitstamp) of BTC/USD. Once the price closed above the stated MA, there was a sharp rise towards $465 where it found offers. There is now a contracting triangle pattern formed on....
The bulls are buying the dips in Bitcoin and a few altcoins, suggesting that investor sentiment remains positive. The shallow pullback in Bitcoin (BTC) following the news of the CFTC’s regulatory crackdown on BitMEX and the late announcement that U.S. President Donald Trump tested positive for coronavirus shows that the underlying sentiment is still bullish.Generally, most damage during such periods of negative news flow is caused by the squaring up of leveraged positions. Data shows that Bitcoin futures volume and open interest has been dropping since hitting the peak in early September.....
The crypto market this year saw some ups and downs that had market sentiment fluctuating widely. Investors had experienced a year like no other given the multiple bulls runs and subsequent crashes and dips that then plagued the market. For some, it was the best year after their portfolios lay in the red for the past three years, while for others, especially those who got in at the height of the bull rallies, it has been a brutal year. Nonetheless, it has been a year packed with lessons for all investors. Moving from incredibly bullish to bearish has helped educate investors that it cannot....
Bitcoin is showing positive signs above the $21,000 zone against the US Dollar. BTC might start a fresh increase and could even clear the $21,750 resistance zone. Bitcoin remains well supported above the $21,000 and $20,500 levels. The price is now above the $20,800 level and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $21,300 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could gain bullish momentum if it stays above $20,500 and the 100 hourly SMA. Bitcoin Price Remains Supported Bitcoin price started....
The crypto market has been able to recover above $1 trillion once more after the market rally that was triggered by the Ethereum Merge. This has resulted in more positive market sentiment from investors, causing the Fear & Greed Index to move clear of the extreme fear territory. Such spikes in sentiment can often spell positive news for the digital assets in the space. Index Moves Into Fear Now, even with the positive movement in sentiment, the crypto Fear & Greed Index continues to remain in the fear territory. However, it is a welcome development from last week’s close of 22. With a....