
Bitcoin Could be Coiling Up for a Move Past $11,000 Due to These Events
Bitcoin’s price has been seeing an incredibly tight bout of consolidation throughout the past 24-hours, forming a $50 trading range as it stays within the mid-$10,500 region This has created an air of uncertainty regarding where it may trend next, as it could easily see a swift move in either direction That being said, the cryptocurrency’s ability to find stability in the face of a barrage of multiple bearish news developments is positive One trader […]
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The SUI/USDT weekly chart is attracting attention as the price action tightens within a defined range. After a period of decline and consolidation, the asset is stabilizing, with key support levels holding firm. The structure suggests that the asset may be gearing up for a potential shift in trend. Price Action Coiling Up — Will […]
Bitcoin is possibly on the brink of a new bull run, yet a sudden and unshakable correlation with the stock market keeps getting in the way. With a potentially rocky Presidential election ahead and the pandemic still a critical factor, analysts say the stock market is “coiling,” ready to release pent up energy in one direction or the other. The longer this sort of coiling continues for will result in an increasingly powerful move. If […]
Here's a look at what we are focusing on in the bitcoin price this morning. Wow, what a night. We’ve been asking for some volatility in the bitcoin price for the last couple of days, and boy did we get it last night. Things we’re a little flat in to yesterday evening, and we noted in the second analysis of the day that we may see a sharp breakout based on the idea that the flat action heading into the late session was a sort of price coiling. Price coiling is a conceptual way to describe the pressure building between buyers and sellers in the (generally speculative side of the) market, and....
Ethereum is on the move again. After spending months consolidating, $ETH has powered back above $2,7K and is flashing signs of serious strength. Analysts believe Ethereum is ‘coiling,’ like a spring building tension before a major breakout. All eyes are now on the $3K level – a major psychological and technical barrier. What’s fueling this […]
Here's a look at what we are focusing on in the bitcoin price this morning. Tuesday is now pretty much over from a European perspective, and things have been a little slow today. We were hoping to get a couple of opportunities to get in to our intraday strategy rules, and continue our run of profit taking that kicked off on Monday and played through until yesterday evening. We’re hoping that the sideways trading that we saw today is representative of a type of coiling, and that this coiling will break out under the buy and sell side pressure building up. When this sort of thing happens, we....