XRP Holds Range As Buyers Begin To Absorb Supply – The Setup Behind A Potenti...
XRP is struggling to push above the $1.50 level as the market heats up and buyers search for the momentum needed to break through resistance that has capped the recovery at every recent attempt. The price action is frustrating — sideways, unconvincing, and offering little clarity on direction. But a CryptoQuant analyst has identified something […]
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Bitcoin has climbed above a key price zone that analysts had flagged as a major obstacle — and that move is drawing fresh attention to who actually holds the coin. Related Reading: Swiss Bitcoin Reserve Effort Withdrawn After Resistance From Central Bank Long-Term Holders Absorb More Supply Around 830,000 BTC has left short-term trader wallets in recent months, pushing the share of Bitcoin held by long-term addresses to 78%, up from 74% in the previous cycle. Data from on-chain tracking account Alphractal shows the shift is one of the largest recorded in recent memory. As more supply gets....
Dogecoin has spent the past several days locked in a tight decline that has seen it push lower. The meme coin has struggled to break above $0.19, slipping between $0.17 and $0.18 in what could be described as another consolidation phase. This movement follows a series of attempts to recover losses in October, which failed with a rejection at $0.205. The current chart setup has attracted interest among traders who believe a major rally move is close. A technical analysis posted on the social media platform X highlights what could happen once this slow decline period comes to an end.....
To begin today’s article, I’m looking at an eight hour candle chart of Bitcoin. You’ll note that this setup begins at the low in August. Last night we looked at the daily chart. You may recall that last night we saw that the daily chart setup had just reached the end of the 5th square. Therefore it was highly likely that either a reversal or acceleration would begin from that point. I have marked with a pink arrow the time frame that was called out as a potential turning point on the daily chart. You will note that it appears that a low was put in at that time. You will also note that on....
The U.S. dollar index reached its lowest levels in three weeks on Oct. 19, triggering a rising wedge pattern. The U.S. dollar index (DXY) could continue its slide in Q4, according to a classic technical setup known as a “rising wedge.” The greenback’s bearish prospects may boost Bitcoin’s (BTC) price to new all-time highs as it holds above $62,000.DXY poised for another 1.75% dropRising wedges are bearish reversal patterns that begin wide at the bottom but contract as the price increases. As a result, the trading range narrows, which makes the rally unconvincing. That typically prompts the....
In the past few days, we have focused on the long term chart of Bitcoin. We have a reasonable degree of confidence that the long-term trend remains up, so we want to keep an eye out for opportunities to go long, rather than short. From today we will look at the daily chart to get a sense of what might happen in the “trade-able” future. Below is a daily chart, with a bull setup that is rather compelling. Note that the setup is centered upon the low of 8/2015 and the high of 11/2015. This is a relatively long time-frame for a daily chart setup. Indeed, it seems too long. But the setup seems....