Bitcoin Back to Technical Levels, Expect Huge Rally to $1200 Soon
The bitcoin price has finally recovered after a longer than expected lateral stage, returning to technical patterns forecasting a big rally to $820. After a longer than expected lateral sideways movement, traders have finally pushed the bitcoin market into a recovery, allowing the price to return to the technical quote level. There are no visible resistance levels that can stop this upward climb until we reach $820. Volume indicators reflect that big players have already taken positions to allow this rally to happen, so the rise to $800 and beyond should be smooth. This upward movement....
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Bitcoin remains at the same price level from last week, reinforcing the $600 support area for the entire new cycle. Meanwhile, technical analysis indicates that bullish consensus is getting stronger, increasing the likelihood of a rally from $650 to $820. 5th Elliott Wave forecasting, based on Fibonacci numbers, could be calculated to the technical objective around the $820 area, where several theories point to the delayed next stage. From there, a technical correction should send prices back to $700, giving stragglers a second chance to recalculate their strategies to join. After another....
People who invested their first stimulus check into Bitcoin in April 2020, would now have more than $10,000. A Twitter account named “$1200 Stimulus Is Now Worth” has been tracking how much the first US $1200 stimulus would be worth if you invested in Bitcoin when the funds were sent out from April 15, 2020. The passing of the first $1200 stimulus bill in April last year corresponded with a huge bull run in the cryptocurrency and stock markets. Bitcoin was sitting at $6,848 on April 15, and if you had invested the $1200 stimulus then it would now be worth $10,211 at today's prices of....
Merry Christmas Bitcoin traders! To those who wished Santa Claus for a steady Bitcoin recovery following its massive bearish correction towards 890 must be special, as it took place just fine in the past 12 hours. Ever since the last week’s massive rally towards 944 fiat, even we were feeling peculiar about its longevity in medium-term. Reason is the same: Bitcoin has hardly resonated with extended bullish sentiments after surprising markets with bull runs. Last time, it was back in August 2016, when Bitcoin price had massively dropped after the news of BitFinex hack broke out. And further....
Bitcoin price looks ready to make a correction from its recent rally, giving buyers a chance to hop in the uptrend at better levels. Bitcoin Price Key Highlights. Bitcoin price recently made a strong rally but it looks like bulls are booking profits. This could offer a nice opportunity to enter on a short-term correction from the sharp climb. Using the Fibonacci retracement tool on the latest swing low and high on the 1-hour time frame shows potential entry points. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA so the path of least resistance is to the upside.....
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:....