Is Bitcoin Headed For A Rally Or Ruin? This Key Price Point Could Decide
Although Bitcoin has seen a noticeable rebound following its negative price performance on the red Monday witnessed this week, the asset now appears to be at a critical juncture, according to prominent crypto analyst Benjamin Cowen. Cowen disclosed in a series of posts on X that Bitcoin faces what traders call a “death cross”—a technical chart pattern that could signal either a potential recovery or further losses. However, BTC’s only ability to avoid the further plunge hinges on a notable key price point. Related Reading: Imminent Death Cross Formation Emerges For....
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The XRP price appears to be approaching higher valuations as liquidity levels point to increasing buying pressure. According to a crypto market expert, this trend could set the stage for a potentially powerful rally. However, the altcoin must first break through the key resistance level at $2.40 to confirm a sustained move upwards. XRP Price […]
Crypto trader James Wynn has predicted that the Bitcoin price rally is not done, with an all-time high expected to happen soon. This comes as the Bitcoin price has continued to stall between $102,000 and $106,000 with no discernible pattern that could point to where the price could be headed next. While the new all-time […]
Bitcoin price could be in for a sharp drop if traders decide to book profits off their recent long positions. Bitcoin Price Key Highlights. Bitcoin price made a strong weekend rally as expected and is back in consolidation once more. A symmetrical triangle formation can be seen on the 1-hour time frame, indicating hesitation among both bulls and bears. Signs of rally exhaustion were seen in the past week, which suggests that profit-taking activity could happen. Technical Indicators Signals. The 100 SMA is above the 200 SMA, which means that the path of least resistance is to the upside and....
While the Bitcoin price seems to have deviated completely from the four-year cycle that dictated the previous bull and bear markets, there are still some similarities that remain that suggest that it could still play out in a similar way. The major similarity that has emerged is the formation of a bearish crab pattern back in 2021, and now, the same pattern has reappeared. Thus, taking a look at the direction of the 2021 formation could give an insight into where the Bitcoin price is headed next from here. The Pattern That Triggered The Bitcoin Price Explosion In an analysis, crypto....
Bitcoin rally paused after notching a new record high on Tuesday, suggesting that its supersonic rally in the previous session might pare a portion of its gains. Bitcoin corrects lower after hitting $48,200. Source: BTCUSD on TradingView.com The benchmark cryptocurrency headed for its most robust one-day performance in more than three years as its price […]