Bitcoin Price Trend At Stake: How September’s Close Could Change Everything
Renowned crypto analyst Rekt Capital has recently highlighted the pivotal nature of the Bitcoin price’s imminent monthly candle close. In a statement via X (formerly Twitter), he detailed that Bitcoin has tagged the $27,000 monthly level from the underside, meaning it is acting as resistance for the time being. He explained that “the upcoming monthly candle close is just around the corner. Bitcoin needs to monthly close above $27,091 for this to be a fake-breakdown. Otherwise, the breakdown will be technically confirmed.” To give this statement some historical context,....
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Ethereum price struggle looks like over, and ETH/USD may be positioning for another upside ride if there is a close above 100 SMA (H4). Ethereum price after a continuous decline for around 10 days managed to find bids around the $7.00 support area. For the whole past week I suggested selling rallies or a pullback. My idea worked for the most of time. Now, I think it’s time to change the bias from bearish to bullish. There was a bearish trend line formed on the 4-hours chart (data feed via Kraken) of ETH/USD, which was cleared by the buyers recently to open the doors for more gains. The....
BTC price at press time: US$248.00. Bitcoin has finally broken above the noted 50 day Exponential Moving Average (EMA) at US$233 and done so with force. It now also sits above the 100 day EMA (~US$241) as well. It’s possible a change of trend could be underway, but it is still too early to tell. This move has been made on very small volume and On Balance Volume confirms this. If the trend is truly going to change, volume should ideally come in.
Ethereum price tested $6.00 yesterday. Now, it looks like there is a high probability that the price may correct lower in the short term. Intraday Support Level can be $5.50. Intraday Resistance Level may be $6.00. Ethereum price climbed higher this week and traded close to our final buy target of $6.0. However, as I was anticipating sellers fought hard near the stated level, and pushed the price back down. The price is now trading 0.50 points lower, and testing a major bullish trend line formed on the hourly chart (data feed via Kraken). Looking at the last couple of candles it looks like....
After having been continuously forming an upward trend, Bitcoin’s price has undergone a powerful downward impulse. Will that affect further growth? The short-term upward trend continues. A sharp change in the trend indicates that the majority of the bulls did not expect a continuation of the trend at that point. The structure of the price is not formed enough for medium-term growth. Currently, the price is going upwards, but it’s also near a medium-term level, which it may bounce off again. The critical rebound level is the price with the largest trading volume, which is $418.5. The upward....
Given the relatively quiet altcoin market, it's easy to miss the new technologies and interesting applications that are gaining ground. Yet, as September rolls to a close and October lies just around the corner, it might be premature to assume that the altcoin world is running out of steam as some have suggested. Today's roundup includes a chat with the developer of XCurrency, a look at I/O's new proof-of-stake concept and an altcoin that is out of this world. I/O preps next-gen proof-of-stake framework. The proof-of-stake (PoS) concept has expanded in recent months, including....