Bitcoin’s Price Kettle is at a Boiling Point

Ethereum, much like Bitcoin and the rest of the crypto market, has seen significant buy-side pressure throughout the past couple of weeks that has allowed it to post some massive gains. Its uptrend reached a boiling point last night when buyers sent its price rocketing up to highs of nearly $500 before it faced a […]

Bitcoin has seen unprecedented volatility throughout the past few days, with its ascent reaching a boiling point last night when bulls stepped up and sent it flying to highs of $18,600 The selling pressure here was quite intense and rapidly caused it to see a selloff Within a mere matter of minutes, its price declined from highs of $18,600 to lows of $17,400, with the support here sparking a sharp rebound It has since stabilized […]

The overdramatization of environmental concerns related to bitcoin mining obfuscate any legitimate conversation on the topic.

Bitcoin’s price is right now at a point where the market will make a decision on the further medium-term direction. There will either be a turnaround or a continuation of the downward trend. The price has bounced off the level of $409, that we’ve mentioned before. This indicates the buyers’ relative advantage. However, before that advantage becomes significant (either with buyers or sellers), there will be a sideways (flat) movement.

Bitcoin is still undergoing a correction towards the upward trend. Will that trend continue or should we expect a turn to decline followed by a sharp fall? At which point is the upward trend most likely to continue? Bitcoin’s current rebound may likely grow into a turnaround. The current price is profitable for the bulls. Thus, the reaction of the price at the current level will indicate with whom the advantage lies on the market. In order to break the structure of the correction and continue the upward trend, Bitcoin’s price has to enter a zone, which is profitable for the bears. $426 is....