“Massive” Wave Of OTC Buying Could Be Behind Bitcoin Bull Impulse

“Massive” Wave Of OTC Buying Could Be Behind Bitcoin Bull Impulse

Yesterday, Bitcoin experienced a major breakout through $12,000 and in a flash was trading above $13,000. Buying on exchanges is picking up, which is, in turn, driving up prices. However, a “massive” wave of OTC buying suddenly could also be contributing to the bullish impulse. Here’s how. Bulls Push BTC To New 2020 High, Is […]


Related News

Why Bitcoin Bears Might Not Get To Buy New Lows

The crypto community is locked in debate over: Is Bitcoin in a bull or bear market? The debate will rage on until either a new high or new low is made. The current price action is bearish, which gives the impression that sellers are in charge. The news cycle, and sentiment doesn’t help the picture for bulls. But there is one “theory” that suggests a lower low won’t be made. Mapping Out From The Bear Market Bottom To The Bull Cycle Top Recently, Elliott Wave International held an Open House on their Crypto Pro Group led by analyst Tony Carrion. Tony nailed the recent....

Bitcoin Elliott Wave Theory suggests BTC price can drop to $25.5K this year

The bearish outlook by the Elliot Wave Theory appeared as Bitcoin tumbled below $35,000. The ongoing Bitcoin (BTC) price correction could continue as per almost a century-old technical analysis principle called "Elliott Wave Theory."The interim bearish outlook put forth by the Elliot Wave Theory appeared as Bitcoin tumbled below $35,000 amid the Russia-Ukraine conflict.Bitcoin wave fractal eyes repetitionThe theory, which divides a price cycle into two sets—one consisting of five upward-trending impulse waves and the other having three follow-up corrective waves—points to the possibility....

Bitcoin Price Analysis: Exuberant Advance

Bitcoin price made a return to the previous wave high today and now looks to have resumed an advance. Or has it? The zoomed out BTCC 5min chart shows the articulation (subwaves) of today’s advance clearly. It’s an impulse wave and to be expected in this wave position. That it should be so strong comes as a surprise, but this same over-exuberance is what makes the wave vulnerable to deep retracement. A strong push higher today and many in the market seem to be buying like this is the blockreward-halving rally. If the outlook for additional decline is wrong, then advance beyond the 4hr 200MA....

Ethereum (ETH) Price Trends: 5/05/2016

Ethereum has stopped at the top limit of the flat. Such an advantage on the side of the bulls could provoke an upward impulse. What is necessary for that impulse to begin? The fortification alone is not enough, as a false breakthrough can happen and Ethereum’s price will drop sharply as a result, at least down to the bottom limit of the flat. The structure has to include a turnaround wave and a correction, which will form right at a significant level. Until such a wave forms, there is a possibility of a false breakthrough. For a more confident growth, the structure of Ethereum’s price has....

Ethereum (ETH) Price Trends: 5/13/2016

Ethereum continues its upward trend. The structure of the trend was not disrupted at a key level, which resulted in a new upward impulse. The upward trend continues. After a rebound from a medium-term level, Ethereum’s price has continued its upward movement. The power of that impulse is caused by the inablity of the market to form a turn to decline. If that wasn’t the case, a new flat wave would have been likely. But because the structure of the short-term upward trend was not disrupted, a flat is not going to happen. What has followed as a result is a powerful upward impulse. As long as....