TA: Bitcoin Resumes Uptrend, Here’s Why BTC Could Rally Above $60K
Bitcoin price remained well supported near the $56,000 support zone against the US Dollar. BTC is rising and it may soon break the key $60,000 resistance zone. Bitcoin found support above $56,000 and started a fresh increase. The price is now trading well above the $57,500 level and the 100 hourly simple moving average. There […]
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Bitcoin price is back under $57,000 after losing an important trend line that has supported the cryptocurrency’s now historic uptrend. The critical uptrend line began just after the leading cryptocurrency by market cap cracked back above $20,000 for the first time, and it never looked back since. Losing such a line, however, could lead to the first extended return to prices previously traded at, requiring a stronger bounce before the Bitcoin bull run resumes. Bitcoin […]
The Bitcoin price rally is set to resume after a deep correction during the past days. The correction may still pull price down but only marginally. Analysis explores the state of trend and considers upside price targets as well as what to expect in the coming days. Writer's Note: This article's title may be better worded as "Bitcoin Price Rally Basing" to acknowledge the base building phase now in progress. However, the title was set at the time of publication and cannot be changed (after the fact) due to SEO considerations. Bitcoin Price Rally Resumes. Summary. Comments. Bitcoin Price....
After indicating increased upside momentum on its longer-term chart, darkcoin price could make a quick pullback to the moving average on its 1-hour chart. As seen on the DRK/BTC chart from Cryptsy, the cryptocurrency seems to be retreating from its latest rally against bitcoin. The shorter-term moving average is still treading above the longer-term moving average on the 1-hour chart, confirming that the uptrend is likely to stay intact. Price pulled back to the longer-term moving average, which held as a dynamic support level. The pullback candle formed a long spike near the MA, indicating....
From last week’s highs, Bitcoin sustained a heavy correction into Saturday. The cryptocurrency fell from $16,000 to a low of $14,300, marking the first large correction of the recent uptrend. The cryptocurrency has since bounced back as the markets have turned risk-on once again on news of a seeming Biden presidency. While the Nasdaq futures […]
The price of Bitcoin (BTC) just surpassed $16,000 on the fourth retest. Yet, across BitMEX and Bitfinex, short liquidations totaled around $13 million. This shows that rather than an overheated futures-driven rally, the ongoing uptrend is organic. Still, the price of Bitcoin declined by 3.5% swiftly after reaching $16,160 on major exchanges including Binance. Within […]