There is 59% Chance for Bitcoin to Continue Its Bull Trend; Here’s Why
Bitcoin held on to $27,000 for most of Tuesday after setting its record high of $28,387 earlier in the week.
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Bitcoin has now solidified its position in the bull trend. With each recovery trend has come a risk of reversal though, which makes a strong point for bulls to continue to hold the value up. In times like this, a small slip-up can end up being devising for the value of the asset causing it to cascade down into another stretched out downtrend. However, if bulls are able to hold above this point, then bitcoin may well and truly enter into another raging bull market. Why Current Position Is Important For Bulls Bulls need to hold the current position for bitcoin if the digital asset is to....
Bitcoin price nearly set a new higher high and confirmed a bull trend. But before the leading cryptocurrency by market cap could set a new peak, a popular trading indicator might have jumped the gun and confirmed the bull market. The rare reading on the Relative Strength Index has only happened a grand total of […]
A turn to decline didn’t happen, which means that the upward trend is to continue. Bitcoin’s price now stands a chance to reach $445. Will the upward trend continue? The lack of a downward trend means that the bulls are holding the advantage. The majority of the traders were expecting the price to grow, at least in the medium-term scale. Thus, the turn to decline didn’t happen. The $424 resistance remains a critical point. That level is the most likely for a turn of the trend towards the next target of $415. A rebound from the level of $424 has only confirmed its significance. Thus, if a....
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The structure of Ethereum’s upward trend is disrupted. Which direction wil Ethereum choose? Will the downward trend continue? An upward rebound off the long-term resistance line took place. Thus, Ethereum’s price has a chance to continue its downward trend. But for that, it needs to break through the bottom limit of the flat: a rebound off it can very well happen instead. For an upward trend to form, Ethereum’s price will have to fortify at the top limint of the flat, which is at $7.8. The future direction will depend on how will the traders behave at the flat’s limits. A fortification and....