Bitcoin Price Rebound Accelerates, Traders Eye Strong Upside Continuation
Bitcoin price started a recovery wave above the $75,000 zone. BTC is consolidating and might aim for more gains if it clears the $77,350 resistance zone. Bitcoin managed to form a base above $74,500 and started a recovery wave. The price is trading above $75,500 and the 100 hourly simple moving average. There is a rising channel forming with resistance at $77,350 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might gain bullish momentum if it settles above the $77,500 zone. Bitcoin Price Regains Traction Bitcoin price remained supported above the $74,000 zone.....
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Bitcoin Price Key Highlights. Bitcoin's price is stuck in a consolidation pattern once more, as bulls are taking a break from their recent strong rally. This type of consolidation pattern has already been seen in the past, with Bitcoin's price making an upside breakout from the bullish continuation signal. The Bitcoin price has formed a bullish flag pattern on its 1-hour time frame, which suggests that more buyers could join the game once an upside breakout occurs. How High Can It Go? The mast of the bullish flag continuation pattern is approximately $30 in height, spanning from $395 to....
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Bitcoin price is still moving in tight consolidation, but this appears to be a continuation signal from the previous strong move. Bitcoin Price Key Highlights. Bitcoin price is still stuck in consolidation, as traders are waiting for bigger market catalysts before deciding which direction to take. Keep in mind that bitcoin just recently made a strong rally, which makes the consolidation pattern a bullish flag. Technical indicators seem to be suggesting that an upside breakout is likely. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA on this time frame,....
Ethereum’s price continues to go through an upward correction. This movement is now very likely to grow into a medium-term turn. A rebound or an upward trend? The upward movement is natural, because it’s common to have a rebound towards the previous trend before a new one starts. After this, we will either see a continuation of the downward trend or a turnabout. Due to its inability to fortify at the level of $8, Ethereum’s price keeps rebounding upward. In the short-term scope this rebound is equal to an upward trend. Consequently, the conclusion of this trend will coincide with the....