Bitcoin price pushes through $51K, extending bulls’ short-term target to $56K
BTC price broke out of its multi-month long range, securing a daily close above $50,000 and prompting traders to extend their short-term target to $56,000. The early morning momentum that pushed Bitcoin (BTC) above $50,000 on Oct. 5 continued throughout the day after bulls took control of the market and bid the price of BTC up near the $51,900.Data from Cointelegraph Markets Pro and TradingView shows that after a brief period of consolidation, bulls resumed their drive higher and many analysts are watching to see if BTC price holds the $50,000 level as support.BTC/USDT 4-hour chart.....
Related News
Ethereum is forming a short-term trend, which is also a wave of a medium-term flat. The price has approached the top limit of that flat. Will there be a downward rebound? On Friday, we found the level of $14, where Ethereum’s price formed a turn to decline within a correction toward the whole upward movement, which started at $10. There were short rebounds within that medium-term movement, which means that the downward movement is highly limited. A flat usually forms under such limiting circumstances. The market will choose the future medium-term direction while inside that flat. A drop to....
Bitcoin is continuing its fall, reaching a key long-term resistance line. The fate of the trend will be decided at this level. Is the long-term upward trend continuing? After reaching the minimal target of the correction, Bitcoin’s price has a chance to continue its long-term upward trend. But for that, a lower-level, intraday confirmation is needed. The reaching of the target is the first signal of a continuation of the long-term trend. Now we need to see a turn form within a short-term trend, otherwise there will be a similar situation to the one which happened at $440, where Bitcoin’s....
Bitcoin price (BTC) is grappling to maintain the level above $23,500. BTC trying to crawl above $23,500 on August 18 Bulls’ aggression ebbing Immense selling pressure this week could invalidate the prevailing bearish price trend The king of crypto tries to keep the uptrend consistent which has peaked for over two months. Related Reading: Axie Infinity Drops 4.7% In Last 24 Hours As AXS Struggles In The Red Zone Bulls Losing Their Aggression? Judging by the daily chart, it’s apparent that the bulls’ aggression is fading out and will need to exhibit a revolutionary strength to keep the price....
After the end of its short-term upward trend, Ethereum is continuing to form a medium-term flat. The price is close to the bottom limit, from which an upward rebound is also likely. Will the medium-term upward trend continue? Ethereum’s price is approaching the bottom limit of the flat. That means that the market will soon reach a decision point for the direction of the coming weekly trend. The minimal correction target for the whole upward trend, which started at $10, is reached. Thus, the market will decide between two options at the bottom limit of the flat: either a correction of a....
Since the market shakedown caused by the US and China tariff frenzy, Bitcoin is still battling with volatility as its price loses the $110,000 price target again after a short upward move on Sunday. With BTC’s price experiencing bearish performance, investors, especially short-term BTC holders, are seeing notable losses in their positions. Realized Losses Mount […]