This Bitcoin Indicator Is On The Verge Of A Bullish Breakout
A Bitcoin on-chain indicator is currently attempting a breakout that could turn out to be a bullish signal for the asset’s value. Bitcoin Active Entities Is Trying To Escape Network Stagnation Range In a new post on X, Jamie Coutts, a Bloomberg Intelligence analyst, has discussed the BTC active entities metric, and how it has a strong relationship with the coin’s price. The “active entities” here are a measure of the unique total amount of Bitcoin addresses that are participating in some kind of transaction activity on the blockchain. Naturally, both senders and....
Related News
The top ranked altcoin, Ethereum, has broken its all-time high and like Bitcoin’s big breakout, it has attracted more and more participants to the cryptocurrency market. Valuations are rising everywhere, and the total altcoin market cap is on the verge of a life-changing breakout, if history repeats. And given the current momentum and FOMO across […]
Cardano (ADA) is crucial following days of heightened volatility and excitement among crypto investors. While other altcoins have experienced significant pumps, Cardano has yet to see the same breakout, leaving analysts and traders searching for confirmation of a bullish trend. Despite the lack of a major move, optimism remains high for ADA as market watchers await a signal to ignite the rally. Related Reading: Strong Buy Signal For DogWifHat (WIF) – Key Indicator Hints At Rally To $4 Top analyst and investor Carl Runefelt recently shared a technical analysis suggesting that Cardano could....
A "massive bullish move" could be the result of this week's momentum indicator move, in line with behavior from throughout 2021. Bitcoin (BTC) could see a “massive bullish move” if a classic trigger from the 2021 bull run repeats this week.In a tweet on Dec. 16, on-chain analyst Matthew Hyland, known by the Twitter handle Parabolic Matt, drew attention to Bitcoin’s momentum indicator.Momentum indicator hints at potential "massive bullish move"While still under $50,000, Bitcoin has already broken out of a long-term downtrend on the momentum indicator, which measures closing prices against....
For the seventh time in the last three weeks, Bitcoin has been rejected at the resistance area of $28,600. Analysts are therefore divided on whether the Bitcoin price is on the verge of another capitulation or whether the bears are running out of steam and the breakout above $30,000 is finally coming. Bitcoin Price On the Verge Of A Breakout? In their latest analysis, Jan Happel and Yann Allemann, co-founders of Glassnode, note that Bitcoin remains unwilling to break out to the upside or break down. According to the two experts, the consolidation poses the risk that Bitcoin will dip....
$42,000 is becoming an increasingly important battleground for Bitcoin bulls and bears. On-chain analyst Willy Woo asserted that Bitcoin (BTC) would break above the $42,000-resistance level in its coming attempts. The researcher based his bullish analogy on the so-called Rick Astley indicator, a heat-map that tracks investors—the Rick Astleys of this world—that buy Bitcoin to hold the asset for longer timeframes.The indicator earlier predicted Bitcoin price spikes based on investors' buying activity below certain technical resistance levels. Investors' buy-and-hold habits tracked using....