Bitcoin Likely To Continue Upward Trajectory, Is $50K Its Next Target?
Bitcoin approaches the high area around its current levels, for the first time since the start of 2022. The cryptocurrency has seen some relief from the macro factors putting selling pressure on its price action, and a new narrative has revigorated the bulls: BTC as pristine collateral. Related Reading | Malice Or Ignorance? The New York Times Keeps Printing Lies About Bitcoin Mining At the time of writing, Bitcoin trades at $47,600 with a 7% and 15% profit in the last 24-hours and 7-days, respectively. There are several factors that could be contributing to the current bullish price....
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The upward trend continues to form. What point will be critical for that trend? Will the upward trend hold? As long as the trend’s structure stays intact, the upward movement will continue. If the Bears take the advantage, there will be a natural turn to decline. That is possible to happen at the level of $11.5. That resistance is most likely to serve as the starting point for a turn to decline, provided the price holds. But as long as the trend isn’t disrupted, it will continue going up. The next top target right now is the medium-term level of $12.4. The key point protecting the upward....
Bitcoin continues its medium-term upward movement. The next significant target is the long-term level of $445, where the market could potentially choose a new direction. What level will be critical for the current upward trend? Bitcoin’s price has broken through the important resistance of $430.5, fortified above it and formed a trend. The fact that the price held at that level has indicated that the advantage was with the bulls. The upward trend will continue if its structure is not disrupted. The next-to-last rebound towards the medium-term upward trend will be exactly the point where....
In recent trading activities, XRP has taken a significant hit in its latest attempt to rally toward its previous high of $0.6360. Despite initial bullish momentum suggesting a potential breakout, XRP could not sustain its upward trajectory. The failure to reach the anticipated target has led to a notable decline in value, raising concerns among traders and analysts about the short-term outlook for XRP. As XRP struggles with these hurdles, this article seeks to analyze its current price movement and the technical indicators suggesting a sustained drop. The goal is to provide readers with a....
After the end of its short-term upward trend, Ethereum is continuing to form a medium-term flat. The price is close to the bottom limit, from which an upward rebound is also likely. Will the medium-term upward trend continue? Ethereum’s price is approaching the bottom limit of the flat. That means that the market will soon reach a decision point for the direction of the coming weekly trend. The minimal correction target for the whole upward trend, which started at $10, is reached. Thus, the market will decide between two options at the bottom limit of the flat: either a correction of a....
A turn to decline didn’t happen, which means that the upward trend is to continue. Bitcoin’s price now stands a chance to reach $445. Will the upward trend continue? The lack of a downward trend means that the bulls are holding the advantage. The majority of the traders were expecting the price to grow, at least in the medium-term scale. Thus, the turn to decline didn’t happen. The $424 resistance remains a critical point. That level is the most likely for a turn of the trend towards the next target of $415. A rebound from the level of $424 has only confirmed its significance. Thus, if a....