3 reasons Bitcoin price hit $17K, marking a new parabolic uptrend
Bitcoin price surpassed $17,000 for the first time since December 2017. The price of Bitcoin (BTC) surpassed $17,000 for the first time since December 2017, continuing its current uptrend. The rally comes after BTC broke out of the previous parabola, which initially caused concerns.Three factors likely contributed to the ongoing rally: new parabolic trend, resilience above $16K, and Bitcoin absordbing whale selling pressure.New parabolic trendOn Nov. 16, Cointelegraph reported that analysts found the Bitcoin price dipped below a parabola dating back to September.Though the trend seemed....
Bitcoin price has been in a strong uptrend since Black Thursday that turned fully parabolic in Q4, resulting in a new all-time high. But according to an analyst, the first-ever cryptocurrency is close to a breakdown of a parabolic curve that’s been supporting the upwards momentum for months. Is this the end of the uptrend? […]
Bitcoin price is still trading well above $30,000 after a nearly $5,000 retreat from highs set at the turn of the new year. But during the first decent-sized correction in the cryptocurrency since $20,000 was broken, one “parabolic” indicator could be suggesting that the daily uptrend has been lost. Here’s a closer look at the […]
Bitcoin price is in a downtrend, after spending nearly a full year in a parabolic uptrend. An indicator bearing the “parabolic” name on monthly timeframes has given a signal, that according to past instances, has always resulted in a catastrophic fall in the top cryptocurrency by market cap. Even if the resulting selloff ends up […]
When Bitcoin rallies, it historically has gone parabolic and blasted off to astronomical prices before each cycle peaks. Recently, rallies have been few and far between, cutting the price per coin down to around $33,000 at the local low. The plummet, however, fell short of tagging a “parabolic” indicator and it could mean that the local bottom is in. Here is more about the Parabolic SAR, the potential signal, and other supporting evidence that the bottom might already be in. Parabolic Uptrend Intact, Says Indicator With 95% Confidence Rate Bitcoin price has repeatedly gone....
XRP has surprisingly been one of the best performing major altcoins throughout the past few days, seeing parabolic gains as bulls take full control of its price action. Its rally shows few signs of slowing down either, with bulls setting their sights on the cryptocurrency seeing even further upside as it plows past multiple key […]