Bears Tighten Hold On Market, Why Bitcoin Must Close The Week Above $36,000
Bitcoin is currently down on the charts and has broken below $35,000 as at the time of this writing. As the crisis between Ukraine and Russia rages on, with reports of the latter already invading the former, the markets have taken a beating down even before the financial markets open for trading for the day. This is a significant point for the digital asset, and without recovery, bitcoin may very well solidify its position in the bear market. Bitcoin Needs To Hold Above $36,000 Crypto analyst Justin Bennett recently released his weekly newsletter where he maps out the movement of the....
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Bitcoin saw a shaky market day following the release of the CPI data. While the projections for the inflation rates were high, they would come out lower than the actual number and the crypto market had responded negatively to the news. Bitcoin had fallen below $19,000 as the market had bled, but there had been a turnaround towards the end of the trading day. The question now remains if the digital asset would be able to hold these gains. Can Bitcoin Keep Up? Over the last 24 hours, the price of bitcoin has risen more than 6%, bringing it close to the $20,000 resistance level. This level....
Bitcoin price is back above $56,000 once again, after a tug-of-war between bulls and bears has led to a bit of a stalemate just as the April monthly comes to a close. The monthly candle at current levels will close as a doji, signaling indecision, and a potential reversal ahead. Here’s a closer look at […]
BTC is holding a key support level, allowing altcoins like VET, THETA, RUNE and AAVE to push higher. Bitcoin (BTC) is attempting to hold above its closest support level, and traders are watching to see if the price can remain strong and close above the 2022 yearly open price at $46,200 for the second week in a row.April has historically been the best performing month of the year for the S&P 500, according to Sam Stovall, chief investment strategist at CFRA. If history repeats itself and the close correlation between the United States equity markets and Bitcoin continues, it could bode well....
Dogecoin has leapt a massive 8% today disrespecting the resistance level of 50 to be trading at 50.8 satoshis. I have been maintaining in earlier analyses that a major move was expected in Dogecoin as the week comes to a close. The bears have given away the slight advantage that they had over the bulls and the onus is now completely on bulls to tighten their grip. Taking a technical look at the 240-minute Dogecoin/BTC price chart above reveals that the upmove has been backed by strength and that maintaining this bullish momentum will be the key to see a further rise in the market cap of....
Bitcoin has come out of the weekend with less than favorable performance but it has not been all bad for the digital asset either. After falling below $20,000, it trended low towards the end of last week. However, the cryptocurrency has been able to hold the $19,000 level despite efforts from the bears to pull it down. This has been due to a number of factors but most importantly is the support that has been forming at this level. Support At $19,000 After struggling to hold above $19,000 for most of last week, the digital asset had subsequently found its footing above $19,000. This price....