Is Bitcoin Ready to Soar? Key Indicators Signal Potential $72K Target
Bitcoin is seeing an uptick following its recent reclaim above the $60,000 mark in the past day. Amid this price performance, renowned crypto analyst Mags on Elon Musk’s social media platform X shared his latest asset analysis. According to Mags, Bitcoin could be poised for a major rally, driven by factors related to the USDT dominance (USDT.D) and the forming technical chart patterns. Related Reading: September 10: A Bitcoin Game Changer, Says Hedge Fund Founder Bitcoin On The Verge Of A $72,000 Rally? Mags explained that the inverse correlation between USDT dominance and Bitcoin’s....
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Economist and market analyst Henrik Zeberg has made an updated bullish forecast for Bitcoin, predicting that the leading cryptocurrency could surge between $115,000 and $120,000. Zeberg, who forecasted a rise to $95,000-$100,000 in December 2022, revised his prediction based on his Business Cycle Model. Related Reading: Is Bitcoin Ready to Soar? Key Indicators Signal Potential $72K Target Bitcoin On The Verge Of A Breakout? Despite a generally bearish sentiment in late 2022, Zeberg maintained his optimistic outlook, which he still holds today. He pointed out that while many predicted an....
Ethereum (ETH), the world’s second-largest cryptocurrency by market capitalization, has currently been showing signs of a potential upside move as key indicators turn bullish. This positive momentum which may be triggered by an increase in the market buying pressure has led to a growing optimism about the digital asset’s near-term prospects. In this article, As […]
Bitcoin price looks ready continue is dive on a break of this bearish continuation pattern, with technicals signaling further declines. Bitcoin Price Key Highlights. Bitcoin price recently made a sharp break below a short-term consolidation pattern, which means that sellers have taken control. Price seems to have formed a bearish continuation signal as more sellers could take it down. Technical indicators are also confirming that selling pressure is mounting. Technical Indicators Signals. The 100 SMA is moving below the longer-term 200 SMA, confirming that the path of least resistance is....
It is a stretch to say Bitcoin is bullish, but what if bulls were simply resting after a tough “evening” and are just about ready for a new “morning?” A potential, high timeframe bullish Japanese candlestick reversal pattern called a morning star could be predicting just that. Here is a closer look at the potential reversal signal and the conditions necessary for confirmation of bullish upside. A “Morning Star” Could Jump Start A Bullish Reversal Bitcoin has been in a brutal downtrend since November 2021. After a full month of extreme fear in the crypto....
Bitcoin price might be in for a larger drop based on the short-term reversal formation but technical indicators are giving a different signal. Bitcoin Price Key Highlights. Bitcoin price seems to be having trouble sustaining its climb, as it started forming lower highs so far this week. A head and shoulders pattern seems to be forming, indicating a potential reversal if price breaks below the neckline around $570. If that happens, bitcoin price could drop to the next visible support around $540. Technical Indicators Signals. The 100 SMA is above the 200 SMA so the path of least resistance....