Clear Skies: Why Bitcoin Overhead Resistance Is Weak
Bitcoin price is only at $37,500 — a far cry from former all-time highs around $68,000. However, one visual technical analysis tool could show that overhead resistance is weak, and that the top cryptocurrency could rip right through what’s left. Could BTCUSD be back at all-time highs faster than most are ready for? Bitcoin Price Breaks Above The Monthly Ichimoku Cloud Technical analysts rely on a variety of tools to help provide signals to visually inspect and either manually or automatically take positions based on the results. One such tool, created by a Japanese journalist Goichu....
Related News
A dark cloud has been lifted from Bitcoin, and it could mean clear skies for the crypto market for here on out. Why? The most dangerous potential “black swan” hanging over the crypto market for years, has now been significantly derisked. According to breaking news, the company behind the stablecoin Tether and crypto exchange Bitfinex, has settled with the New York Attorney General’s office for some $18.5 million to clear the firm of accusations of […]
Bitcoin price has been trading in a relatively narrow range of $320-$334 for the past day or so. I expect that it will break out of this range soon. Overhead resistance had been tested and held on a few occasions, but we broke through that resistance as this article was being written. 3-Day Chart. To touch the long term support line, price on the 3-day chart would need to fall to $315. But I would be surprised if it goes there. If it does, it will cause me to sit up and take notice, no doubt. This chart will clear 2nd arc resistance no later than Jan 1, 2015. From there, there will be....
Over the weekend, Bitcoin set a pivotal higher high. And although the crypto asset is pulling back slightly with this week’s election uncertainty, a confirmed uptrend could make for clear skies in the weeks ahead. However, does a lack of a higher high on other top currencies tell a different story about Bitcoin – one that instead highlights the dollar’s weakness more so than the cryptocurrency’s strength? Top Cryptocurrency Finally Sets Higher High for First […]
The potential approval of a spot Bitcoin ETF in the United States has stirred considerable attention in recent weeks. Dan Morehead, CEO and founder of Pantera Capital, has now shared valuable insights on this matter in his latest “Blockchain Letter”, emphasizing the unique circumstances surrounding this event. Morehead challenges the traditional Wall Street mantra, “Buy the rumor, sell the news,” questioning its relevance in the current spot ETF context. He reflects on how this adage played out historically, specifically citing the CME Futures launch and Coinbase’s public listing.....
Bitcoin is fast approaching a long-watched overhead resistance level formed in the time following its recent rejection at its $19,500 all-time highs. The selling pressure here proved to be quite significant and caused the cryptocurrency to see a strong decline that led it to lows of $16,400. This movement was perpetuated by various factors, including […]