TA: Bitcoin Price Surges 6%, Why Recent Breakout Looks Real
Bitcoin price found support above $22,500 and surged over 6% against the US Dollar. BTC broke many hurdles and might rise further towards the $25,000 resistance. Bitcoin started a fresh increase after it found strong bids above $22,500. The price is now trading above the $23,500 level and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $23,350 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is forming a bullish breakout pattern and might rise towards $25,000. Bitcoin Price Breaks Resistance Bitcoin price....
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A new report by Bitstamp and Bytetree says bitcoin responds better to the rising money supply, rising real interest rates and a strong economy. This is in contrast to gold which appears to perform better when real interest rates are falling while inflation is rising. To support these findings, the report points to the collapse of the gold price in Q2 of 2013, after the US Federal Reserve signalled it would raise rates in the future. During that period bitcoin value surged. In fact, the report asserts “that 2013 was bitcoin’s best-ever year (5400%) and gold’s worst year....
Here's what we are looking at in the bitcoin price this evening, breakout and intrarange. It’s been a pretty slow day in the bitcoin price space, and this has weighed on our ability to get into the markets. We had a pretty volatile end to last week, and some decent action over the weekend allowed us to draw some profit from a few positions, but the current action looks to be representative of the start of the week slumps we’ve seen across the last couple of months – range bound, no real breakouts, and when we do see a breakout, it doesn’t result in any sort of sustained momentum we can....
Co-founder and Chief Executive Officer (CEO) of Real Vision, Raoul Pal has doubled down on his bullish outlook for Bitcoin (BTC), Ethereum (ETH), and Solana (SOL), calling these cryptocurrencies “the greatest macro trade of all time.” Despite recent fluctuations and short-term volatility, Pal argues that the market is positioned for an explosive breakout, which investors should prepare for. Macro Set-Up For Bitcoin And Ethereum Surge While Bitcoin, Ethereum, and Solana face a downtrend due to rising volatility, Pal remains steadfast in his optimistic projection, believing that the market....
Bitcoin broke well above $20,000 this week, signaling that the bull market was real and that the cryptocurrency was likely to go parabolic in the very near term if it hasn’t already. The breakout was supported by the highest “Real Volume” since the June 2019 high. High volume during a breakout is a sign that […]
Based on crypto analyst Javon Marks’ recent analysis, a massive price breakout could be on the cards for Dogecoin (DOGE). The analyst suggested that this big move for the foremost meme coin could happen sooner than many would expect. Dogecoin To Enjoy A 404% Price Breakout Marks predicted in an X (formerly Twitter) post that […]