Bitcoin Open Interest Approaches Key Breakout Zone Seen In Prior Bull Markets...

Bitcoin futures open interest is almost higher than ever, but its composition is completely different from last year, analysis reveals. Bitcoin (BTC) stayed rangebound at the Oct. 6 Wall Street open with traders already planning for a “violent” breakout.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin whale activity highlights the importance of $19,000Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it moved up and down by only a matter of a few hundred dollars on the day.The amount of $20,000 formed a focus for the pair, which meandered in step....

Bitcoin has recovered above $23,000 multiple times now, but the digital asset remains in a perilous position. This is because the recovery alone has not been able to assure that the bull trend would endure. Rather, it has been falling the brief buying and selling pressures that have been plaguing investors in recent times. The bitcoin open interest also mirrors this fact and shows just how easy it would be for bitcoin to lose its position. Bitcoin Open Interest Stays Elevated For the past week, the bitcoin open interest has been on the rise. After hitting above 300k the previous week,....

Increasing volume and a breakout above a key trendline have set Bitcoin price back on the path to $14,000. As the weekend approaches, Bitcoin (BTC) price appears set to close out the month with a remarkably strong performance which has many bulls calling for a new all-time high above $20,000 in the near future. Traders attribute these lofty estimates to the fact that BTC appears to have flipped $12,000 to $12,500 to support and barring some unexpected price implosion, Bitcoin is on the path to painting a beautiful monthly candle.Crypto market weekly price chart. Source: Coin360Further....

The open interest for AVAX has been on a consistent rise over the last month, carrying the price of the altcoin along with it. The result of this continuous climb is the fact that the open interest has now surged to May 2022 levels, a development that could spell a massive rally for the price. AVAX Open Interest Surge To $224 Million According to data from Coinglass, the AVAX open interest has now climbed to $224 million. The website shows that there was an over 10% increase in the open interest in a 24-hour period which brought the total open interest above 10.04 million AVAX. Related....

The price of Ethereum is showing similarities with previous bull cycle beginnings as $800 ETH is coming back in play. Markets tend to behave in massive cycles. One of those cycles is the previous Bitcoin (BTC) price cycle from 2014 to 2017. However, within those cycles, are multiple smaller cycles that could often repeat.A similar approach and analysis can be made for Ethereum’s Ether (ETH), which is outperforming BTC year-to-date, as the majority of its impulse upward moves have corrected heavily to retest previous resistance levels.When is the best period to buy ETH/USD and what....