Bitcoin Breakout Looks Very Likely
In my opinion, Bitcoin is on the edge of a breakout. On multiple timeframes, and on multiple bull setups, pricetime is on the edge of pushing past arc resistance. There is a lot of room to the upside before the next arcs appear. This one I find quite intriguing. Pricetime is about to push it’s way through 5th arc resistance. It has been clawing it’s way upwards for weeks now. Pricetime met the 5th arc and had every excuse handed to it to fail, but it chose not to. Indeed, it is simultaneously about to clear the 5th arc pair, and apparently also about to get a close above the $780 swing....
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A recent Coinmetrics report says on-chain fundamentals are hinting at bitcoin experiencing its biggest breakout yet. The report notes that bitcoin is already showing signs of this following its rise by about $1,000 in one day on October 21. The digital asset has subsequently set a new all-time high for the year. A New Precedent While acknowledging the difficulty in predicting bitcoin’s future value due to its notorious volatility, authors of the report insist there is a difference between previous bull runs with the current one. According to their report, “BTC has been growing....
The top ranked altcoin, Ethereum, has broken its all-time high and like Bitcoin’s big breakout, it has attracted more and more participants to the cryptocurrency market. Valuations are rising everywhere, and the total altcoin market cap is on the verge of a life-changing breakout, if history repeats. And given the current momentum and FOMO across […]
Bitcoin price is still stuck in consolidation but might be ready to make a strong breakout in either direction sooner or later. Bitcoin Price Key Highlights. Bitcoin price formed higher lows and lower highs, creating a symmetrical triangle pattern on its 4-hour time frame. Price is still stuck inside that triangle pattern for now but a breakout might be due since it is approaching its peak. A breakout in either direction could set the longer-term trend for bitcoin. Technical Indicators Signals. The 100 SMA is currently below the 200 SMA, signaling that the path of least resistance is to....