Bitcoin Price Closing Above This “Hurdle” Sends Bulls “Off To The Races”
Bitcoin price has been consolidating for many weeks now, but has still yet to choose continuation or further correction. Over the last few days, bulls have begun to regain momentum, but have yet to clear one important hurdle before it is “off to the races,” says one crypto capital manager. Here’s the line they’re referring […]
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Bitcoin is toiling hard to not break down. The cryptocurrency is under a strong pressure, but the bulls are putting up a remarkable fight to defend a crucial support level, which we will be discussing very soon. But for how long they are able to do so in an adverse environment remains to be seen. Bitcoin is currently trading at $228.90. Today, we will be discussing the technical considerations of the weekly BTC-USD price chart. Bitcoin Chart Structure - If we take a look at the weekly chart above for the period spanning year-to-date, we find that the trendline connecting the closing lows....
Bitcoin’s price has not formed a medium-term trend. Such behavior only makes the environment more strained for the traders who are currently holding on their medium-term positions. All that can result in a strong movement. Which direction will Bitcoin choose? The rebounds which are currently happening near the key level of $428 indicate the lack of people who are willing to bet on further growth. The most likely explanation is that the traders are closing their positions whenever the price nears that resistance line. Doubts about the medium-term trend are prevailing over the traders who....
Bitcoin has now solidified its position in the bull trend. With each recovery trend has come a risk of reversal though, which makes a strong point for bulls to continue to hold the value up. In times like this, a small slip-up can end up being devising for the value of the asset causing it to cascade down into another stretched out downtrend. However, if bulls are able to hold above this point, then bitcoin may well and truly enter into another raging bull market. Why Current Position Is Important For Bulls Bulls need to hold the current position for bitcoin if the digital asset is to....
Litecoin bulls have clawed their way back in as price leapfrogs from $1.98 to $2.06. There may be more good news in store for the investors as several technical indicators and a bullish price chart formation point to a surge in the Litecoin prices. But, for the investors' wealth to soar, Litecoin will have to cross one major hurdle: closing above $2.08. A comprehensive technical analysis on the Litecoin/Dollar 240-minute price chart taken from www.tradingview.com prominently favors the bulls. Price Structure - The price structure in the past one week has represented sideways consolidation;....
Even with an ongoing bull trend and another round of stimulus money rolling out, Bitcoin price has pulled back from highs set over the weekend. According to one crypto analyst, this could be the start of a more significant “reset” before its” off to the races” once again for the scarce digital currency. Here’s a look […]