Market Update: Bitcoin Spikes Over $16K, RSI Levels Warm Up, Price Retracts f...
Digital currency markets have seen some decent gains this week, as the overall market valuation of all 7,000+ crypto assets is hovering above the $446 billion mark. Traders also watched the price of bitcoin jump above the $16k zone on Thursday for the first time since 2018. Bitcoin and a number of other crypto-assets have been climbing northbound in price on Thursday, November 12, 2020. At the time of publication, the entire crypto-economy is up over 2% and valued at $446 billion today. During the early morning trading sessions on Thursday, bitcoin (BTC) touched a high of $16,177 on....
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A crypto analyst has pinpointed the $66,000 mark as a crucial level for the Bitcoin price and its trajectory over the coming weeks. Bitcoin Price Needs To Climb Above $66,000 — Here’s Why Popular crypto pundit Ali Martinez took to the X platform to share an interesting on-chain observation for the price of Bitcoin. This on-chain revelation revolves around the warm supply realized price metric, which is derived from the average purchase price of Bitcoin that has been inactive for one to three months. Related Reading: ADA At A Crossroads: Approaching $0.3389 Support With Potential For A....
As all recent charts indicate, the bitcoin price isn't doing that well as bears seem to dominate the market. The sudden buy pressure that we've started seeing after the bitcoin price started falling below the support level of $220 might result in another correction. It's Bears vs Bulls once again. It's still hard to make out if the bulls managed to overcome the bears after the support level of $220 was breached. However, it's clear that most positive btc price spikes today were met with a negative overturn despite the healthy buy activity. As seen on the chart below, the price only managed....
Bitcoin is now above a certain historical on-chain metric, and if the asset can continue to hold here, a bullish trend might follow. Bitcoin Is Now Above The “Warm Supply” Realized Price As explained by an analyst in a post on X, BTC is now trading above the warm supply realized price. The “realized price” […]
The litecoin price is facing the bullish effect that is haunting the bitcoin market over the few last days. LTC/USD dropped below $1.70, but bulls came to the rescue quickly. Hours after the low of $1.69 was hit, buying pressure pushed the litecoin price closer to the levels reached before today's crash. LTC/USD currently trades close to $1.73 while the market is still heavily pressured by large sell orders. Lower volume and resistance. While we did see some decent resistance at the $1.70 level today, the volume is still down. Although the resistance at the previous lows is visible, not....
As we have noted on a few occasions over the last couple of days, action in the bitcoin price has been relatively flat as late. We've seen very few breakouts, and only a couple of spikes that have tested our key levels. This has made trading our breakout strategy pretty frustrating, as the spikes don't validate entry based on the fact that they don't close outside our predefined range. In light of this, and as e head into tonight's Asian session, we are going to switch things about a little. Take a quick look at the chart for an explanation. As you can see, we are tightening things up and....