3 reasons why traders expect continuation after Bitcoin price spike to $24K
Here’s what traders expect after Bitcoin’s surge above $23,600 triggered a $138 million squeeze on short contracts and led BTC price to $24,200. The price of Bitcoin (BTC) surpassed $24,000 on Dec. 19, reaching a new all-time high. On Coinbase, BTC peaked at $24,200 and has since consolidated into the $23,500 to $23,800 range.Three factors pushed the price of BTC upwards within a short period, leading it to a record-high. The factors are a large short squeeze, stacked sell orders at $23,600, and the market’s reaction to the U.S. Treasury’s self-custodied wallet rule proposal.A massive....
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A few Bitcoin traders expect now expect a deeper correction but data suggests that a relief rally toward $18,000 should not be ruled out. The price of Bitcoin (BTC) has been consolidating above $17,000 on Nov. 28 following a major correction from $19,400. In the near term, traders anticipate the dominant cryptocurrency to see another steep pullback.There are three main reasons why traders expect a deeper drop to occur in the near future, namely, historical cycles, the Fibonacci Sequence, and the record-high open interest of the futures market. BTC/USDT 4-hour chart (Binance). Source:....
The market is continuing to break down as we have been expecting on these pages for the past several weeks. While I believe that the bear market will come to an end rather soon, I also anticipate that the market may finish its bear season with a vicious roar. I have stated on more than one occasion that I suspect that $316 will hold (on a daily closing basis). However, it would not surprise me if there were to be an intraday spike low that reached lower in the days ahead. For Elliott Wave reasons, I would be VERY surprised if the price went below $266, even briefly. Elliott Wave has but a....
Bitcoin price flashed a few bullish signals on Nov. 29, leading analysts to share their opinions on why BTC should close November above $60,000. The cryptocurrency market saw a boost in sentiment after the price of Bitcoin (BTC) surged above $58,000 in a long-awaited move that rejuvenated traders who have been anxiously waiting for a resumption of the uptrend.BTC/USDT 4-hour chart. Source: TradingViewHere’s a look at what analysts and traders are saying about Nov. 29’s price action and whether or not Bitcoin is likely to reclaim the $60,000 level.A $60,000 retest is “on the....
Ethereum options data show traders anticipate a continued surge to $880 over the next four weeks. Ether (ETH) price has gained 88% since November, astonishing even the most bullish investors as the top altcoin secured a 2020 high at $750. Aside from the upcoming CME ETH futures launch scheduled for Feb. 8, the phenomenal growth of the total value locked (TVL) in Decentralized Finance protocols also played a major part.Total Value Locked, USD. Source: DeFi PulseAs the above data indicates, investors are even more confident that Eth2 has been a success, despite the real potential of delays....
ETH traders hint that the bull market could be back after Ethereum price hit $3,000 for the first time in 79 days. This week Ethereum's London hardfork was completed without a hiccup and investors have now reset their eyes on new highs above $3,100.Data from Cointelegraph Markets Pro and TradingView shows that the price of Ether (ETH) did in fact experience a “sell the news” sell-off shortly after London went live but dip buyers quickly rushed in and pushed its price back above $2,800, its highest level since June 7. This bullish momentum extended further after Bitcoin price surged above....