Bitcoin Just Broke Its Downtrend as Analysts Eye Extension of Momentum
Bitcoin’s price action throughout the past 24 hours has been overwhelmingly bullish Following a prolonged period of range-bound trading between $10,200 and $11,200, the benchmark cryptocurrency was finally able to buck this trend and rally up to $11,400 Its ascent has been slowing as it pushes further into the $11,000 region, but it still remains overwhelmingly strong at the moment Analysts are now noting that this latest move higher broke the cryptocurrency’s multi-week downtrend This […]
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Bitcoin price this morning touched $50,000 – a feat that might have have made a bear market look a lot less likely. But bulls could be celebrating too early, and a max pain scenario of a symmetrical triangle few currently see could end up shaking up both bears and bulls in the days ahead. Here is a much closer look at the symmetrical triangle, what the corrective pattern suggests, and why bulls certainly aren’t out of the woods just yet. Downtrend Remains Unbroken, Symmetrical Triangle Possible Downtrends can be deceiving. They don’t always necessarily mean a bear market, and....
A "massive bullish move" could be the result of this week's momentum indicator move, in line with behavior from throughout 2021. Bitcoin (BTC) could see a “massive bullish move” if a classic trigger from the 2021 bull run repeats this week.In a tweet on Dec. 16, on-chain analyst Matthew Hyland, known by the Twitter handle Parabolic Matt, drew attention to Bitcoin’s momentum indicator.Momentum indicator hints at potential "massive bullish move"While still under $50,000, Bitcoin has already broken out of a long-term downtrend on the momentum indicator, which measures closing prices against....
A browser extension for Google Chrome is reportedly capable of stealing bitcoin and other altcoins from its users. Called the 'Cryptsy Dogecoin (DOGE) Live Ticker' in the Chrome Web Store, the extension is susceptible to updates that begin monitoring visits to cryptocurrency exchanges and wallet sites. A representative from Cryptsy has told CoinDesk that the exchange is not affiliated with the extension in any way. The warning about the extension was posted on reddit, along with the following advice: "Be careful of what you install on your devices you use to access your wallets." How it....
Ethereum gained bullish momentum and broke the $550 resistance against the US Dollar. ETH price is up over 8% and it seems like the bulls are aiming $600 or $620. Ethereum started a fresh increase after it broke the $530 resistance level. The price surpassed a major hurdle at $550 and the 100 hourly simple […]
Bitcoin’s price has finally broken back above $11,000 after a prolonged period of consolidation around $10,700 This move marks an extension of the momentum that was incurred following news of Square’s plan to purchase $50 million worth of BTC. Analysts and investors took this news as a sign that companies are widely beginning to accumulate BTC to hold as a reserve asset As such, it renewed a bullish sentiment and, as can be seen today, […]