Bitcoin reaches for $47K as analysts agree BTC price consolidation cannot last
There will be a breakout up or down within weeks, consensus believes, with targets between $40,000 and $60,000. Bitcoin (BTC) recovered from new lows of $45,550 on Jan. 5 as analysts waited patiently for a "squeeze" to trigger fresh volatility.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewAnalyst weighs prospect of "fakedown" towards $40,000Data from Cointelegraph Markets Pro and TradingView showed BTC/USD returning to the previous day's levels near $47,000 on Binance at the time of writing.The repeated dips had failed to unsettle market participants, who now turned to the....
Related News
Ethereum has seen some massive momentum as of late that has allowed its price to rocket up towards $1,000 The crypto is finally gaining some ground against Bitcoin after a prolonged period of underperformance Where ETH and other crypto assets trend next will undoubtedly depend largely, if not entirely, on BTC, as its ongoing consolidation […]
Analysts still hold a bullish longterm view of Bitcoin price, but they also agree that the newly launched BTC ETFs are a game-changer. After reaching new all-time highs it's customary for Bitcoin (BTC) price see a bit of cooling off in the form of profit taking, consolidation and uncertainty from traders who are cautious about opening new positions at record highs. This appears to be exactly what is occuring this week as Bitcoin price struggles to hold the $60,000 level as support.BTC/USDT 4-hour chart. Source: TradingViewGenerally, most analysts still retain a bullish macro view of....
Bitcoin’s price has been stuck within a macro consolidation phase for the past several months This consolidation has led to the formation of a trading range between $10,000 and $12,400, with bulls and bears with being unable to break above or below either of these levels One analyst is now noting that data seems to suggest that BTC is currently trading at a pivotal level for its future Although $20,000 is often looked upon as […]
Ethereum is expected to shoot higher in the weeks ahead despite the recent price consolidation. The cryptocurrency has held well in the high-$500s despite some downward pressure in the Bitcoin price. Analysts think that ETH could push toward $900 and beyond in the near future, especially due to the positive fundamental event of the ETH2 launch. Boosting Ethereum’s prospects, analysts are also bullish on Bitcoin. Ethereum Could Shoot Even Higher, Leading Analysts Say Ethereum is […]
Bitcoin has begun to surge higher again after multiple days of consolidation under $16,000. The coin traded as high as $16,500 earlier today. Analysts are not yet convinced it’s clear skies for Bitcoin, though. Bitcoin Could Surge Towards $20,000 Once $17,000 Is Claimed Bitcoin has begun to surge higher again after multiple days of consolidation under $16,000. Hours ago, the leading cryptocurrency moved from the $15,900 resistance it was trading near toward $16,500. Analysts are […]