Bitcoin Price Technical Analysis: Calm Before the Bull Stampede
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....
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In this episode of NewsBTC’s daily technical analysis videos, we take a look at the Bitcoin price rally to see if it can turn into something much bigger. Are bulls ready to stampede all over bears? Take a look at the video below: VIDEO: Bitcoin Price (BTCUSD): October 25, 2022 Crypto Winter Finally, some action in Bitcoin, and so far it is to the upside. Bitcoin price is testing just below $20,000 currently. Related Reading: Can Bitcoin Bring An End To Crypto Winter? | BTCUSD Analysis October 24, 2022 BTCUSD Daily Begins Potential Bollinger Band Squeeze This is particularly....
A bull flag pattern resembles a flag on a pole and appears when a cryptocurrency is experiencing a significant price rise. Many security price forecasters use technical analysis, sometimes referred to as charting. However, they opt to reject the efficient markets hypothesis (EMH) altogether. The efficient markets hypothesis (EMH), also called the Random Walk Theory, is the idea that current securities prices accurately reflect the information about the firm’s value. Therefore, it is impossible to make excess profits using this information, or gains that are greater than the overall market.....
Bitcoin is seeing a tepid start to this week as neither the bulls nor the bears exert any pressure on the other. The cryptocurrency looks relatively calm in the low-volume season, as do the technical indicators. Market participants should refrain from excessive trading in such conditions. Bitcoin is currently trading at $421.53. The technical indicators overlaid on the 4-h BTC-USD price chart from BITSTAMP are giving mixed signals. This, coupled with the lackluster price action, is compelling me to advise that this is a no-trade market, and one should wait for better opportunities to....
CNBC’s Brian Kelly builds the Bitcoin bull case by referencing a divergent metric that, in the past, foreran the calm before a price storm. Uncertainty reigns, and market sentiment is extremely fearful. As such, the narrative of a return to crypto winter is strong. However, Kelly’s analysis leads him to believe it’s time to buckle […]
Bitcoin price started the day by rising from around $236 to more than $248 before a bearish downtrend pulled the price down back to around $226 at the time of the writing of this article. As the price is advancing, it's logical to see downward price movements as traders take the profit by closing their long positions. Although the bullish rally slowed down today, it's quite obvious that bitcoin price won't break the $200 support level, maybe because of the psychological makeup of the traders who think that a bitcoin is worth more than $200. By plotting the Fibonacci retracement fan on the....