Bitcoin clings to $40K support as focus returns to BTC price 'supercycle'
With little comfort on the daily chart, analysts once more zoom out to explain the lack of momentum on the market. Bitcoin (BTC) fooled no one with its criss-crossing of $40,000 on April 15 as traders remained firmly risk-off on BTC.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewBitcoin returns to key 2022 Fib levelData from Cointelegraph Markets Pro and TradingView showed BTC/USD bouncing modestly after returning to the $39,500 zone on April 14.The move erased an impulse move higher from earlier in the week, underscoring the lack of bullish market momentum despite conspicuous....
Related News
Crypto analyst Altcoin Sherpa has answered the question of whether or not the crypto market will witness a repeat of the meme coin supercycle that Dogecoin and other meme coins enjoyed in 2021. The analyst is optimistic that there would be a meme supercycle but not in the way many expect it. Will There Be […]
Recent events mean that a Q4 "blow-off top" is now back on the menu as BTC price recovery clings to its 23% weekly gains. Bitcoin (BTC) is gearing up for a comeback which should lead it to repeat classic bull run years 2013 and 2017, analysts are arguing.As $42,400 local highs appeared on July 31, narratives around the market are flipping back to a bullish Bitcoin "supercycle."Bulls come out for 2021 closeBitcoin has been busy repairing the impact of the China miner rout since mid May, but last week's price advances were stronger than most anticipatedRelated: Bitcoin open interest mimics....
A crypto analyst has noted that XRP has finally broken out of its long consolidation phase, signaling the onset of a major price rally. He further predicts that the XRP price is on the verge of ending an 11-year SuperCycle, which could pave the way for a surge to $3.4 once finalized. SuperCycle To Trigger $3.4 Surge Skyrexio, a TradingView crypto analyst, has released an XRP price analysis, forecasting a possible increase to $3.4. In the chart analysis, Skyrexio disclosed that XRP has recently broken out of its four-year consolidation period, potentially signaling the start of a bullish....
Bitcoin and most major altcoins took a turn for the worse after BTC price dipped below $42,000. Bitcoin’s (BTC) volatility has been shrinking in the past few days. The standard deviation of daily Bitcoin returns for the last 30 and 60 days as calculated by the Bitcoin Volatility Index is at 2.63%, the least volatile it has been since November 2020.Generally, tight ranges are followed by strong price expansions. In 2020, the low volatility period in November was followed by a sharp rally in mid-December, which resulted in a supercycle that carried the price all the way to $64,854 on April....
Multiple factors demonstrate why $30K is so important for for BTC/USD within an ongoing price "supercycle." Bitcoin (BTC) has seen almost two months of rangebound price moves after hitting $30,000 — and new data hints why.In a series of tweets on July 15, popular Twitter commentator Nunya Bizniz presented multiple arguments supporting the significance of $30,000 for BTC/USD.All roads lead to $30,000?Despite rising fundamentals and ongoing adoption narratives, BTC price action has failed to reestablish a bullish trend.Still 50% below recent all-time highs, Bitcoin is without direction,....