Breakout or fakeout? Top traders react to Bitcoin price rally to $12K
Bitcoin price rallied to $12,000 but traders are unsure whether the move is a breakout or a fakeout. Within the past few hours, Bitcoin (BTC) price rose to $11,988 before pulling back to hover around the $11,900 level. The price is on the cusp of breaking above $12,000, and some analysts have suggested that the dominant cryptocurrency is in the process of decoupling from the rest of the market, including U.S. equities.The general sentiment around Bitcoin among analysts and traders remains positive and multiple on-chain analysts say that Bitcoin has been behaving like a safe-haven asset.....
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Bitcoin traders and enthusiasts have been eagerly anticipating the next significant move in the cryptocurrency market, with memories of the 2019 fakeout rally still fresh in their minds. However, one prominent BTC trader, known as Dave the Wave on the social media platform X, is offering a reassuring perspective. According to Dave, the conditions that […]
Bitcoin has seen a strong push higher today that allowed its price to break above the key $19,000 level that has been so pivotal for its price action This rally came about after a period of weakness that caused the crypto to plunge as low as $17,600 The selling pressure seen around its current price […]
Ether price could drop by 45% because its ascending triangle breakout looks unconvincing so far. Ethereum's native token Ether (ETH) saw a modest pullback on July 17 after ramming into a critical technical resistance confluence.Merge-led Ethereum price breakoutETH's price dropped by 1.8% to $1,328 after struggling to move above two strong resistance levels: the 50-day exponential moving average (5-day EMA; the red wave) and a descending trendline (black) serving as a price ceiling since May.ETH/USD daily price chart. Source: TradingViewPreviously, Ether rallied by over 40% from $1,000 on....
The price of bitcoin has been doing significantly well compare to where it was about a week ago. It has now recovered above a highly coveted point, returning some faith back into the market. However, the position where the digital asset currently resides is one that is unstable. Even though it seems to have found its footing above the $31,000 level, there is still the question of what this recovery actually means in the short term. Fakeout Or Breakout? It is important to note that the price of bitcoin had trended for a long time between $29,000 and $30,500. It spent quite some time here as....
Ether now retests a critical resistance range for a potential pullback towards $1,800. It took Ethereum's native token Ether (ETH) only two months to recover from a brutal selloff at the beginning of 2022.ETH price breaks out but risks remainETH price reached near $3,350 on March 28 after rallying by over 30% in just two weeks, and by more than 50% when measured from its year-to-date low of around $2,160, established Jan. 24. In doing so, the ETH/USD pair may have also "busted" what earlier appeared to be a bearish continuation setup, called the "symmetrical triangle."ETH/USD daily price....