Bitcoin rejected after attacking $42K as trader says BTC price impulse move n...
A second run on the $42,000 mark comes amid demands for $41,000 to become support to secure bullish continuation. Bitcoin (BTC) zoned in on a multi-week high for the weekly close on Feb. 6 as a calm weekend helped fragile sentiment.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin should flip $41,000 to support Data from Cointelegraph Markets Pro and TradingView followed a mercifully non-volatile weekend for BTC/USD, which continued to test $42,000 resistance while retaining $40,000 as support.Friday's unexpected gap upward initially resulted in misgivings over a price....
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Ethereum is still forming a sideway movement. The situation is heating up. The resolution is likely to come in a form of a powerful impulse. Which direction will Ethereum choose? The length of the current flat is a result of a rebound towards the medium-term upward trend taking place. Consequently, after this flat ends, a medium-term movement will follow. Market dynamics tell us that it should be a powerful impulse. For that impulse to become the most likely to begin, several conditions have to be fulfilled. As long as Etherum’s price is rebounding from key resistance lines, the flat will....
The price of Bitcoin has broken through crucial resistance in weekend trading. Bitcoin (BTC) remains in the spotlight after MassMutual became the latest company to allocate $100 million of its portfolio into Bitcoin. This is adding to the impressive buy pressure at the moment, renewing hopes of Bitcoin breaking $20,000 in December. While a correction occurred in the past week, Bitcoin’s price bounced above the crucial level at $18,600 and is now targeting new all-time highs. However, since the breakout occurred during the weekend, one concern for the bulls is the relatively low volume of....
Bitcoin has seen a slight retrace this morning, with bulls being unable to break above the immense selling pressure that exists around $16,000 Today’s move lower has been somewhat slow and has yet to force the crypto below any crucial level One trader is now offering a somewhat grim outlook on the cryptocurrency, noting that he is expecting it to see one more impulse higher before topping and posting massive losses He is particularly looking […]
Ethereum continues its upward trend. The structure of the trend was not disrupted at a key level, which resulted in a new upward impulse. The upward trend continues. After a rebound from a medium-term level, Ethereum’s price has continued its upward movement. The power of that impulse is caused by the inablity of the market to form a turn to decline. If that wasn’t the case, a new flat wave would have been likely. But because the structure of the short-term upward trend was not disrupted, a flat is not going to happen. What has followed as a result is a powerful upward impulse. As long as....
A short squeeze could send BTC/USD far beyond $50,000 if the $48,000 sell wall crumbles. Bitcoin (BTC) touched $47,000 on Tuesday as ranging behavior continued to hint at an attack on major resistance.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewVolatility narrows for BitcoinData from Cointelegraph Markets Pro and TradingView showed BTC/USD attempting to exit the $46,000 range on Tuesday after heading lower as the week began.The area between $45,000 and $48,000 has acted as a narrow trading corridor for Bitcoin as it attempts to knock down its last hurdle before $50,000. So....