TA: Bitcoin Rallies Over 12%, Why This Could Be Major Trend Change
Bitcoin broke the key $40,000 resistance zone against the US Dollar. BTC is up over 12% and might continue to rise above the $43,000 level. Bitcoin surged above a few key hurdles near the $40,000 resistance zone. The price is trading above $42,000 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $38,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair has moved into a bullish zone and might accelerate higher towards $45,000. Bitcoin Price Surges Bitcoin price remained in a positive zone above the....
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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.
Key Highlights. Bitcoin price after trading as high as 320.00 moved lower and broke an important support area. The recent break in Bitcoin is calling for a trend change, which is likely to call for more losses. Bitcoin price looks like heading lower, as sellers managed to clear a couple of important support levels. There was a solid upside reaction recently in the Bitcoin price, but once the price tested 320.00 there was a downside reaction noted. The price declined heavily and shredded more than 10% gains to trade below 280.00. However, there is one more major support area building on the....
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....
Bear market rallies look to be playing out for both the S&P 500 Index and bitcoin. How high can the rally go? What do historical rallies look like?
Key Highlights. Dogecoin price looks like forming a short-term base near 32.2 Satoshis, as shown on the hourly chart (price feed from HitBTC). The price may bounce from the current levels, but could find resistance near 35.0 Satoshis. Selling rallies may be a good deal moving ahead as long as the price is below the mentioned resistance area. Dogecoin price may recover in the near term, but we cannot discard the fact that there is a lot of bearish pressure, calling for sell rallies idea. 35.0 Satoshis as Resistance. Dogecoin price found bids near 30-32.0 Satoshis, and currently attempting....