Bitcoin Price Outlook Above $550 Positive
Bitcoin price pushes higher, again, from horizontal support zone near $560. The outlook remains that the market is engaged in a sideways base formation prior to advance. Good upward continuation, today, toward the 4hr 200MA (red). We’re looking at the BTCC chart, since the reference Bitstamp chart is losing clear wave definition as price consolidates. Although the 1hr chart has started drooping, at the time of writing, the 4hr chart shows that additional upside is likely: 1) The stochastics have not yet grouped at their maximum 2) MACD remains above its signal line What we want to see is....
Related News
Bitcoin price keeps simmering below $600. Perhaps ominously so. Direction is uncertain and the advice to traders remains the same: rather than anticipate the move, let the market show the way. The uptrend has steadily lost momentum and trajectory since the beginning of June. Downside. From a bearish perspective the price action can be interpreted as a rounded top. The outlook would be for price to perhaps attempt $600 again, and then sell-off in a bout of profit taking. Although such a sell-off could draw price back below $500, a strong bounce from the low can be expected, since the....
Bitcoin is beginning to show signs of a potential upward trend as several on-chain metrics are turning positive. These metrics, which often serve as indicators of future price movements, paint a picture of growing optimism in the market. One of the key indicators supporting this positive outlook is the exchange inflow/outflow data, which reveals a […]
According to CryptoWzrd’s daily update, Litecoin (LTC) closed the day on a bullish note, closely tracking Bitcoin’s overall market sentiment. While holding above $75.20 keeps the outlook positive, a break below this level would signal bearish pressure. Conversely, a retest of the $79.60 resistance coupled with signs of weakness could present a potential shorting opportunity. Litecoin Mirrors Bitcoin’s Momentum In Daily Close Based on CryptoWzrd analysis, both the daily candles for Litecoin and the LTC/BTC ratio closed in a bullish orientation today, largely mirroring the positive sentiment....
Cardano price is currently trading slightly above $0.50, price of the asset has been consolidating over the past few days. ADA has been struggling below the immediate resistance level. The coin has attempted to flash a break-out couple of times but it was met with the bears each time. Since Cardano price is trading sideways, chance of a breakout cannot be ruled out immediately. Technical outlook for ADA has also started to turn positive as the buying strength started to recover on the chart. Over the last 24 hours, Cardano price noted a small depreciation. In the past week, ADA lost 2% of....
Let me start by making a sweeping statement that is generally found to be true. 'Bulls have a positive outlook, they believe things will get better. Bears have a negative outlook, they believe things will get worse. Bulls and Bears, however, do have one thing in common, that is, that they both hate uncertainty. In order to explain why Bitcoiners should fear bears I intend to use simplistic examples, bear with me... get it?...bear... ah, forget it. Let us assume for a moment that a particular company, ACME inc., has decided to float one million ordinary shares at $1 each. Now, our investor,....