TA: Bitcoin Saw Key Technical Breakout: Big Reaction From Bulls Imminent
Bitcoin gained pace above the $47,000 resistance against the US Dollar. BTC is showing positive signs and might rally towards the $50,000 resistance zone. Bitcoin saw a major technical breakout above the $45,500 resistance zone. The price is trading above $46,500 and the 100 hourly simple moving average. There is a crucial bullish trend line forming with support near $46,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could continue to rise and might trade towards the $50,000 resistance zone. Bitcoin Price Breaks $48K Bitcoin price remained strong above the....
Related News
Bitcoin is in the process of rocketing up towards $32,000, with the cryptocurrency showing some immense signs of strength as bulls target it seeing further upside The overnight breakout rally that allowed it to see this explosive move higher came as a shock, with the resistance at $30,000 being sliced through with ease The strength of this movement does bode well for bulls, as it indicates that significantly further upside could be imminent in the […]
Bitcoin has been consolidating since hitting a low around 166. Price has rebounded above 300 briefly, and then retreated. Still, BTCUSD has been hanging onto the consolidation mode in what appears to be a triangle. With price action already so close to the triangle apex, a breakout is imminent, but it will not be of much significance by itself. Let's see what other technical clues we will need. Bitcoin (BTCUSD) 24/2/2015 Daily Chart. The daily chart shows that since price tagged 300, bearish candles have dominated. In fact, last Friday's bearish candle combined with the previous 4 daily....
Bitcoin is currently struggling to hold above its crucial $16,000 support level as buyers and sellers both fight for control of its near-term price action Where it trends next will likely depend largely on the continued reaction to this level, as a sustained decline below it could strike a serious blow to its technical outlook One trader is noting that one technical indicator is suggesting that Bitcoin is overbought at the present moment The same […]
The SEC must appeal Grayscale’s recent court win by the end of the day today, or will be forced to approve or delay the company’s plan to convert GBTC into a Bitcoin ETF. The Grayscale Bitcoin Trust (GBTC) chart could be signaling an imminent breakout, which could hint at the SEC failing to file an […]
Ethereum has finally crossed over the downward sloping resistance line, albeit on a low volume, which fails to induce any confidence in the breakout. As can be seen from the 2-hour ETH-XBT price chart taken from Kraken exchange, there is no visible surge in volume reading even after the resistance has been taken out. A major contribution in ETH/XBT price rise is the sudden collapse in Bitcoin price. A free falling Bitcoin will aid this pair. Ethereum is currently trading at 0.00240BTC. The technical picture suggests that Ethereum will face significant selling pressure 0.00283BTC even if....