Bitcoin Loses Crucial Support Never Broken During Last Bull Run
With Bitcoin price falling to the low $40,000 range, debate has picked up on if the once trending cryptocurrency’s bull run is now over. There’s no truly telling for sure, however, this time is very different than the last bull market. Why? Because Bitcoin price just lost a key level that never once saw a […]
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The price of Bitcoin is nearing $12,000 once again, which may be the signal for the start of a massive new bull cycle. The price of Bitcoin (BTC) had to hold the crucial support level between $11,100-11,300, and it did. After this support test, the price of BTC continued to surge upward on Oct. 20, reaching the crucial resistance area between $11,900-12,200.This upward move came along with weakness in the dollar, as the U.S. Dollar Currency Index (DXY) dropped substantially. A correlation that’s been effective throughout 2020 already. However, other cryptocurrencies haven’t been following....
The price of Bitcoin has broken through crucial resistance in weekend trading. Bitcoin (BTC) remains in the spotlight after MassMutual became the latest company to allocate $100 million of its portfolio into Bitcoin. This is adding to the impressive buy pressure at the moment, renewing hopes of Bitcoin breaking $20,000 in December. While a correction occurred in the past week, Bitcoin’s price bounced above the crucial level at $18,600 and is now targeting new all-time highs. However, since the breakout occurred during the weekend, one concern for the bulls is the relatively low volume of....
Bitcoin has slipped below crucial support levels after peaking at $11,200 last week. The coin now trades at $10,400 as of this article’s writing, below supports in the $10,500-11,000 range that is so important for BTC. Bitcoin’s drop comes as the price of gold has dropped lower, towards $1,900, then under it. Both assets seem […]
The Bitcoin June candle close is ugly, and clearly shows indecision in the market. Is the bull market structure broken, or are new highs still likely this year? No one knows, and price action has reached a stalemate. However, the Ichimoku indicator could not only provide information on what happens if support holds or fails […]
Bitcoin price may now see sideways action for a few months after breaking through crucial multi-year resistance at $12,000. The previous week has been tremendous for Bitcoin (BTC) investors as price broke the crucial barrier of $12,000, culminating in a surge from $11,300 to $13,300, a rally of $2,000 within a week. A new yearly high was printed, while the dollar has been showing weakness as well. Next to that, multiple listed companies came along with statements regarding allocations of Bitcoin rather than the U.S. Dollar. All these arguments line up for a continuation of the bull market,....