Bitcoin Nears Bullish Breakout, But Volume Has Yet To Come
Bitcoin has very few resistance levels left to clear before a new bull run is on, and the leading cryptocurrency by market cap returns to price discovery mode in search of its next all-time high. And while that break out into a bull market draws nearer with each passing day, so far, there’s no volume […]
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BTC price at press time: US$249.45. Last week’s price alert began with: “Thus far things seem different. The one thing that continues to make me weary is the lack of volume. If we are going to have a truly sustainable advance, volume needs to pick up and price needs to burst through big resistance at the 200-day Moving Average at ~US$258. As long as price remains above the 50-day, a neutral to bullish stance should be taken.” The price reached a high of ~US$252 and has now come down to ~US$249 and thus far the price has been consolidating above these two moving averages, which it has been....
Here's a look at what we are focusing on in the bitcoin price this evening. So the markets have now drawn to a close out of Europe, and it’s time to take our second look of the day at the bitcoin price. In this morning’s analysis, we focused on action over the last few days, and noted that the bullish run in price may be sustainable, and that we should see an influx of volume into the markets today on the back of the return to business in the US. We also made a side note of pointing out that the next three months are generally some of the busiest in the traditional financial asset markets,....
Since making a low on the month just above 216 bitcoin rebounded to 230 and start coiling as we can see in the 1H chart. Towards the end of April 21st session, btcusd started to uncoil upwards. Let's take a look at the charts: Bitcoin (BTCUSD) 1H Chart April 22. As we can see in the 1H chart, bitcoin not only broke above a triangle, it also charged above the 230 resistance. There was strong volume, and the 1H RSI popped up above 80. The price action suggests that the bullish breakout is very likely to extend. In the very near-term however, the RSI is overbought, so we can expect some....
Multiple technical indicators suggest that BTC is preparing for a breakout, despite concerns about rising inflation and conflict in Ukraine. The cryptocurrency market remains in a state of flux as investors are once again focused on what steps the U.S. Federal Reserve might take to combat rising inflation and markets wobble as the situation in Ukraine remains tense.Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin (BTC) has hovered around the $44,000 support level and traders are hopeful that an inverse head and shoulders chart pattern will lead to a....
Bitcoin broke well above $20,000 this week, signaling that the bull market was real and that the cryptocurrency was likely to go parabolic in the very near term if it hasn’t already. The breakout was supported by the highest “Real Volume” since the June 2019 high. High volume during a breakout is a sign that […]