Bitcoin Price Prepped for ‘Big Game,’ Analysts Expect Bull Rally
Despite a recent drop — about two dollars since our last article — the bitcoin price has remained relatively still. The sentiment among analysts is that bitcoin is preparing itself for a hefty move in the coming weeks, but still needs a little more time to warm up. Bitcoin Price Still Prepping for Big Move, Analysts Say. One source explains: “Bitcoin price pulls lower toward horizontal support near $560. The outlook remains that the market is engaged in a sideways base formation prior to advance. Price is returning to the consolidation floor today, and we watch to see if the support zone....
Related News
Ethereum has undergone a strong rally over the past 48 hours as the crypto market has bounced back from the weekly lows. The price of ETH currently is $473, up 5% in the past 24 hours alone. Analysts expect further gains as the asset looks poised to close a daily candle above $482, which should trigger a move above $500. Ethereum Set to Explode Past $500, Analysts Say Ethereum has undergone a strong rally over […]
Some analysts claimed that it was a natural price correction, primarily after Bitcoin's consecutive gains of up to 119 percent in the previous four weeks.
A few Bitcoin traders expect now expect a deeper correction but data suggests that a relief rally toward $18,000 should not be ruled out. The price of Bitcoin (BTC) has been consolidating above $17,000 on Nov. 28 following a major correction from $19,400. In the near term, traders anticipate the dominant cryptocurrency to see another steep pullback.There are three main reasons why traders expect a deeper drop to occur in the near future, namely, historical cycles, the Fibonacci Sequence, and the record-high open interest of the futures market. BTC/USDT 4-hour chart (Binance). Source:....
The price of Bitcoin has surpassed $23,000, and analysts predict where BTC is headed next after a significant rally. Bitcoin price surpassed $20,000 with ease on its third retest, buoyed by a surge in buy volume. Following the breakout, analysts anticipate the dominant cryptocurrency to eventually rise to the mid-$30,000s. However, in the short term, the expectations of a pullback are growing.There are compelling arguments for both short-term bull and bear cases. Traders who are highly optimistic in the near term state that the surge past $20,000 has confirmed a new bull trend. With no....
Will Ether be able to replicate the 2016 Bitcoin bull run with DeFi's momentum? Several analysts believe so. Several prominent analysts say Ether (ETH) is on the cusp of a major bull run despite already gaining nearly 65% in 2021. Ethereum has seen explosive growth in decentralized finance and other areas, causing user activity on the blockchain to surge.Ether performance in 2021. Source: Digital Assets DataRaoul Pal, CEO of Real Vision Group, pinpointed the technical structure of ETH's price. He emphasized that the structure is strikingly similar to Bitcoin (BTC) in 2016, which means a....