2 Key Reasons Why Analysts Expect a Strong Bitcoin Breakout Here
Bitcoin has finally begun to move higher after much consolidation over the past week. The cryptocurrency trades for $36,000, having moved 3% higher in the past day. The cryptocurrency is likely preparing for a stronger breakout, analysts say. Bitcoin Jack shared that Bitcoin is on the verge of breaking past two key resistance levels on a daily time frame, assuming the daily candle closes around current levels. MicroStrategy is hosting a Bitcoin even that could […]
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Bitcoin price hit a new 2020 high at $16,765, and traders expect a much larger rally to occur in the near term. The price of Bitcoin (BTC) hit a new yearly high at $16,717 on Binance. Following the breakout, traders expect a larger rally to occur in the near term.There are several reasons why analysts expect a prolonged uptrend. First, Bitcoin cleanly broke out of $16,000, taking out the $16,473 peak achieved on Nov. 13. Second, there is a “sell-side crisis” brewing as more BTC gets accumulated than mined. Third, BTC rallied despite indicators showing overbought signals.BTC/USD 1-hour....
Bitcoin has seen strong gains over the past seven days. According to CoinGecko, the leading digital asset is up 16% in the past seven days, outperforming Ethereum and a number of other digital assets. Despite this strong rally in the price of the leading digital asset, analysts are expecting further gains in the weeks ahead. […]
Bitcoin is mounting a strong bounce from the weekend lows of $15,700. Just minutes ago, the leading cryptocurrency broke to $16,500 and passed it for the first time this year. At its local highs, BTC traded for $16,550. While BTC trades slightly below those highs, it is positioned to move higher as it looks primed […]
After Bitcoin's strong breakout above $15,000, analysts are looking toward Ether as the market sentiment around Ethereum strengthens. The price of Bitcoin (BTC) is nearing $16,000 after achieving $15,960 on Binance. Following the dominant cryptocurrency's rally, analysts are now looking toward Ether (ETH). The Ethereum blockchain's native token has seen heightened momentum in the past week. After underperforming against BTC in October, the probability of a new ETH rally is beginning to increase.There are two key reasons why analysts expect Ether to perform strongly in the near term. First,....