Bearish Divergence? Bitcoin Price Rises, But Network Growth Sends Warning Sig...
The recent Bitcoin (BTC) price surge has ignited renewed interest and confidence among investors, leading many to believe that the BTC bull run is accelerating. According to trader and crypto analyst Adrian Zduńczyk, Bitcoin has reached a new 52-week closing high and has maintained a close above the previous high of $32,000 for three consecutive weeks. This sustained upward momentum indicates a strong bullish trend sentiment and signals the beginning of the third wave of the Bitcoin bull run. Analyst Highlights Key Trends Zduńczyk points out several dominant trends that contribute to the....
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The relative strength index is making lower highs while correcting from its overbought area. The run-up in the Bitcoin (BTC) price toward $50,000 last week risks exhaustion due to a mismatch between the cryptocurrency's price and momentum trends.So it appears the Bitcoin's price and relative strength index (RSI) have been moving in the opposite direction since late July. In doing so, even a strong push higher in the BTC/USD bids has coincided with lower peaks in momentum, suggesting that the pair's upside momentum is weakening out.Bearish divergenceA normal RSI momentum tends to tail the....
A widely traced technical indicator in the Bitcoin market is signaling bullish exhaustion as the cryptocurrency flirts with $60,000.
In a detailed market update, Charles Edwards, founder of Capriole Investment, has provided an in-depth analysis of Bitcoin’s current market position, highlighting a pivotal shift to an ‘expansion’ phase in the Bitcoin Macro Index. This transition is particularly noteworthy as it parallels conditions observed prior to historical price surges in Bitcoin’s valuation. Bitcoin has recently experienced a sharp uptick, ascending from $34,000 to an interim high of $38,000. After a brief period of resistance, the price corrected to approximately $36,500. Edwards highlights....
Bitcoin price action despite being wobbly in the past days, is still being discussed by analysts. Earlier today, a CryptoQuant analyst turned the spotlight to the Bitcoin’s NVT Golden Cross, a metric that has been known to signal potential local tops and bottoms in Bitcoin’s price. According to the analyst, Burak Kesmeci, this metric is now showing a reason for concern as it is currently struggling to surpass its previous peaks. Related Reading: Bitcoin’s Sudden Drop: Could This Be a Setup for a Massive Rally? Analyst Weighs In How Is The NVT Golden Cross Signalling a Warning For....
Input Output Global (IOG) CEO Charles Hoskinson sends out a warning to all Cardano users as scammers ramp up their efforts in the countdown to Alonzo’s release. The highly anticipated Alonzo phase is nearing completion, with September 12 penciled in for the hard fork event to occur. Currently, IOG is working on the process of […]