Bitcoin Breaks Above $40K Again, But When Will Consolidation End?
Bitcoin is still struggling to break out of the cage that is the $40K-$44K price range. Reaching this level has not been the problem for the digital asset, but successfully breaking above it and maintaining consistent momentum above the $45,000 price point has been the biggest hurdle. Consolidation continues to be the name of the game. But how soon will this come to an end? Bitcoin Is Still Consolidating Bitcoin has continued to consolidate in recent times. It had broken through $40,000 three times already in the first two months of 2022 and the recent break above this point marks the....
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There is a 75 percent possibility that Bitcoin breaks bullish out of its ongoing consolidation pattern. According to independent analyst Vince Prince, the benchmark cryptocurrency is making “marginal” upside movements in an Ascending Channel structure. That has left it with two possible outcomes. First, Bitcoin consolidates inside the Channel while breaking below the “Ascending Trendline”; Second, it stays above the Trendline and later breaks out of the range altogether. Mr. Prince favored the second outcome. […]
Bitcoin has moved much higher over the past two days after many weeks of consolidation. Throughout most of September, the cryptocurrency traded snug between $10,000 and $11,000. As of this article’s writing, the coin has moved up to $11,050 as it breaks higher on fundamental and technical trends. For one, the U.S. dollar is plunging as stimulus talks have seemingly restarted in a manner that should boost alternative assets. Analysts think that this may be […]
Bitcoin price has spent another day in the vicinity of its consolidation pivot level of $640 (Bitstamp). Consolidation leads to break-out, but traders are advised to mind the possibility of a fake-out. The horizontal magenta line shows the $640 (Bitstamp) level around which price has been oscillating for the past two weeks. Any move below is quickly bought back up to $640 and any advance above, eventually returned to this level. Even the downward spike, a few blocks before the halving event, had targeted $640 – overshot and snapped back to it. At the time of writing, price is just $640,....
Litecoin has been consolidating since finding support at 1.32 This consolidation follows a 3-point divergence between price and the RSI. Then, after a failed bearish attempt to test 1.32, price rallied again and rallied up to 1.46 before finding resistance. Litecoin (LTCUSD) 1H Chart April 17. In the 1H chart, we can see that there was resistance around 1.45-1.46, which was a common support from a previous consolidation. As price falls, we should watch what happens around 1.37. If ltcusd breaks below 1.37, it would break below the 100-, and 50-hour simple moving averages (SMAs) and this....
Bitcoin has been caught within an intense consolidation phase throughout the past few days The selling pressure in the mid-$19,000 region is intense, and it remains unclear as to whether it will break above this anytime soon The fact that it has been consolidating above $19,000 is an incredibly positive sign, and forming this into […]