Bullish: Bitcoin Marks First Green Weekly Close After Two Months In The Red
Bitcoin has been marking multiple weeks of consecutive red closes. This has been the case for the last two months when the leading cryptocurrency had seen 9 consecutive weeks of red closes. Unsurprisingly, this had pained a very bearish image for the digital asset. However, it seems the tide has begun to turn as bitcoin has now ended its streak. A break above $30,000 in the early hours of Monday put BTC in its first weekly close in more than two months. Better Days Ahead For Bitcoin? While the price of bitcoin has been in recovery, it does not exactly erase more than two months of bearish....
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The month of February was a rocky one for bitcoin but the digital asset had managed to come out ahead in the end. After suffering three long months of red closes, bitcoin has finally recorded its first green month. This is attributed to the rally that began at the end of the month. However, this is not the first time that the digital asset would mark such a trend and past performance helps to speak to what can be expected from here from the cryptocurrency. 1st Green Month Close For Bitcoin Since hitting its peak in November, bitcoin has consistently closed the following three months in the....
Bitcoin price is back at $48,000 and with the most recent weekly close, momentum has flipped bullish for the very first time this year. With the momentum now behind bulls, what might this mean for the cryptocurrency market in the weeks and months ahead? The MACD And Bullish Weekly Bitcoin Momentum Markets are always seeking equilibrium. When a large move materializes, the same momentum that carried an asset upward, pulls it downward when the trend begins to topple. This makes momentum among the most important factors in determining if and when a trend might change. Related Reading |....
Bitcoin had been able to break out of its red streak earlier in the year after making 11 consecutive red weekly closes. With the market recovery, the digital asset had begun to return some green weekly closes. That is until the market correction, and bitcoin lost about $4,000 off the top of its value. This resulted in a weekly close for the prior week, and even though it looked like a recovery might be on the horizon, bitcoin has recorded another red weekly close. Two Red Closes Within the last couple of weeks, bitcoin had seen some incredible movements that had returned faith in the....
Bitcoin price has taken a beating over the last several months, resulting in the worst quarterly close since 2011. The bearish momentum has been brutal as crippling contagion spreads across the cryptocurrency market. However, bearish momentum on weekly timeframes has begun to weaken, providing bulls with their first opportunity to capitalize in some time. Bitcoin Bearish Weekly Momentum Begins To Weaken, Can Bulls Capitalize? In the real world, momentum is the measure of velocity and mass. In finance, the term describes the rate of speed at which an asset’s price changes. Considering....
Bitcoin printed a massive weekly close on Sunday evening after a strong rally. The weekly close was the highest since January 2018. One analyst thinks that this close will send Bitcoin much higher in the months ahead. Bitcoin Expected to Rocket Higher on Close Above Resistance Bitcoin printed a massive weekly close on Sunday evening after a strong rally. The cryptocurrency printed its first weekly close above $13,000 and its highest weekly close since January […]