Bitcoin Finds Local Bottom as Analysts Point to Signs of Strength; What’s Next
Bitcoin and the entire cryptocurrency market have seen mixed price action throughout the past week It has mainly favored bears, with the selling pressure seen when BTC broke below $40,000 being quite significant This led the entire market to plunge lower, but bulls are now in the process of reversing this decline as they push […]
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Ethereum has been flashing signs of immense strength today, with the cryptocurrency surging up towards $550 as bulls try to erase the recent losses that came about due to the recent market-wide selloff. This comes as Bitcoin also shows some signs of strength, with the benchmark cryptocurrency navigating towards $18,000 following its recent decline that […]
BTC on-chain metrics and technical indicators are trading near historical bottoms, but analysts say a new “macro catalyst” could prove the current range is not the bottom. From a historical perspective, the loss in value realized across the cryptocurrency market over the past several months has been one for the record books and the total cryptocurrency market cap has declined from $3 trillion to $991 million. June was especially painful for investors after the price of Bitcoin (BTC) fell nearly 40% to mark one of its worst calendar months on record according to a recent report from....
Bitcoin is at a crucial point after several days of recovery and consolidation. On August 5, it experienced a sharp capitulation event, with the price dropping to a monthly low of $49,577. While some investors remain skeptical, believing Bitcoin hasn’t reached its bottom yet, key data from CryptoQuant suggests that the worst might be over. […]
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....
Here's a look at what we are focusing on in the bitcoin price this evening. In this morning’s analysis, we noted that – given the action we had seen in the bitcoin price across the past few days – price was due to find some level of support near term. When we see action like this, specifically, downside action to the degree that we have seen the over the last week or so, there always has to be a point at which price finds some support, and markets consolidate. That is, the short sellers take profits off the table, and the buyers enter the market in the attempt to pick up a discount....