Bitcoin Price Breaks: Recovery on the Cards?
During yesterday's session, we published a few technical analysis pieces detailing the action in the bitcoin price throughout the European morning. We highlighted a number of key levels that we would be keeping an eye on, both as far as defining a range and as far as targets and risk parameters were concerned, and - as the day matured - we entered a number of scalp trades to take advantage of the intraday volatility in the bitcoin price. Now, as we kick off a fresh European session, what are the levels that we are watching in the BTCUSD, and how can we draw profit from today's action? Take....
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Last week, we got relatively little action in the bitcoin price as far as any discernible trend was concerned. Pretty much throughout the entire week we saw markets range up and down between predefined parameters, without really breaking out in any direction. However, over the weekend, we finally saw some action worth noting. Price looks to have made a medium-term recovery, and - with any luck - we can see a continuation of this recovery throughout today's European session and beyond. So, with this said, what are the levels we are keeping an eye on in the bitcoin price today, and where....
REN price could be ready to break out from the downtrend as price gears up for a short-term recovery creating more bullish sentiment. REN looks strong on both low and high timeframes. The price of REN breaks out on the daily timeframe after forming an descending triangle. Ren Protocol (REN) has recently shown great recovery after some setbacks as the price has remained downtrend against tether (USDT). Previous weeks in the crypto space have been slow, with most altcoins and major cryptocurrencies such as Bitcoin (BTC) moving in a range. The month appears promising, with altcoins such as....
ATOM price breaks downtrend as price gears up for a short-term recovery creating more bullish sentiment. ATOM looks strong on the low timeframe. The price of ATOM breaks and holds above 8 and 20 EMA. Cosmos (ATOM) showed so much strength as price trends for days, with many becoming interested as to why Cosmos (ATOM) trends against tether (USDT) in such market conditions. With the price of Bitcoin (BTC) showing some great momentum, we could see the price of altcoins, including ATOM, move easily as it eyes a rally to $14. (Data from Binance) Related Reading: Elrond Coin Price Seen Climbing....
XRP price has met with selling pressure each time the bulls tried to move past the $0.48 price level. XRP declined by almost 1% over the last 24 hours. Over the past week, the altcoin depreciated more than 6%. The bulls could be back on the chart if the coin breaks past its immediate resistance level. The technical outlook for XRP signalled that the bears are in control as demand for XRP had fallen. For the bulls to power through, it is important that demand for the altcoin returns to the market. At the moment, all technical indicators have painted a bearish image for the altcoin. If....
IMX price could be ready for a short-term relief rally as price breaks out from the downtrend, creating more bullish sentiment for a recovery. IMX looks strong on both low and high timeframes. The price of IMX breaks out on the daily timeframe after forming a descending triangle. ImmutableX (IMX) has struggled to remain bullish against tether (USDT) after seeing its price rejected from a region of $1.3. Previous weeks for the crypto space have been slow as most altcoins, and major cryptocurrencies like Bitcoin (BTC) continued to move in a range. With so much belief in Uptober, as many....