Bitcoin Price Breaks through Resistance for a Surprise Rally
Well, as many have noted in the comment section, my warning of a possible short-term fall in Bitcoin price Friday coincided very well with a RISE in price. I wish it weren’t so, but it happens. As my readers likely know, my published long-term forecast is for Bitcoin price to rise for the next several months. Trader’s strategies differ, but I am of the opinion that if the trend is up, one should only trade long, and not short. Conversely, if the larger trend is down, only trade short. Scalpers, of course, disregard this logic every day. Sometimes it is profitable to trade against the....
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Ethereum saw a massive rally today that has allowed its price to firmly break above $600, which has long been a resistance level Following the break above this resistance, the cryptocurrency rallied as high as $630 before its rally got overextended and resulted in it retracing down towards $615 It is recovering from this pullback, but the price just above where it is currently trading at may persist as a strong resistance level in the […]
Cardano (ADA) has been on fire recently. At this point, it is no longer a surprise to see the asset posts massive returns in just a short period of time. With so many big things lined up for the project, the price has continued to rally. Now, ADA has broken a critical resistance point in its race to the top. The coin had suffered dips following the knockdown from its first $3 resistance point test. But has successfully broken through this barrier. ADA carries out a successful retest of $3 | Source: ADAUSD on TradingView.com The early hours of the morning saw the price of the digital....
Ethereum gained pace above the $2,550 resistance zone against the US Dollar. ETH price is trading in a positive zone and it could rally if it breaks the $2,750 resistance. Ethereum is slowly moving higher and it broke the key $2,500 resistance zone. The price is now trading well above $2,500 and the 100 hourly […]
Cardano (ADA) has shown no signs of slowing down as the asset’s price continues to rally. The aim remains to hit a new all-time high before the year runs out. The previous all-time high for the asset is recorded at $2.45 and a price crashing saw the asset losing more than half of that value in the months following it. Then a bull rally had been triggered again in the market, which had set cryptocurrencies all across the market recording massive gains daily. Related Reading | Bitcoin Dominance Down As Market Hits $2 Trillion, Altcoins Are Taking Over Cardano (ADA) was not left out of....
Bitcoin struggling to break above $51,600 could trigger another big drop in BTC price. The price of Bitcoin (BTC) is continuing to range between $48,000 and $51,000, unable to break out of the $51,600 resistance level.If Bitcoin struggles to surpass the $51,600 resistance area in the near term, technical analysts say the probability of a correction rises.BTC/USDT 4-hour price chart (Binance). Source: TradingView$51,600 is the key level to watchAccording to Josh Olszewicz, a cryptocurrency trader and technical analyst, the $51,600 level is currently acting as a strong resistance level.For....