Bitcoin Bounces Off Consolidation Range, What Lies In Store?
Bitcoin has been on a steady increase over the last two weeks. It has not been on the uptrend for all of this time, but the majority of the time, the digital asset has maintained this upward trajectory. This has seen it touch above $24,000 at one point after bouncing off its strong consolidation point. Now, as the digital asset trails $23,000, a couple of technical levels have begun to form beneath it. Bitcoin Begins To Form Support Bitcoin has broken above $23,000 once more, and support has begun to form. After previously losing its footing and falling to $21,000, the digital asset had....
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Since our previous update, the market has moved down to a low of $750, stalled out in the low $800’s for awhile, then recently took out the $900 level once again. Regardless of whether there is a continuation to the upside unless there is a break of the ATH the market will be in a large consolidation range. This week has brought a fairly nice run to the upside following a rocky start to the year, although at this point it’s hard to call this anything more than a short-term countertrend bounce. Not to say that another leg to the upside is out of the question but even if we get an additional....
Ethereum has been at the forefront of the crypto market recovery in recent times. This is because the price of Ethereum had rallied following an important update regarding the upcoming Merge, and the market had recovered in kind. ETH’s price had quickly grown to one-month highs and had seen its value grow beyond $1,700. This had no doubt put a good number of ETH investors ahead when it comes to profit. ETH Profitability Grows Ethereum had seen its profitability decline following the market crash that rocked June. For the first time in a year, the percentage of Ethereum holders who had been....
Bitcoin has rallied once more above $24,000. This impressive rally follows an intense week where the FOMC’s announcement has basically shown that the United States is now in a recession. Investors had flocked to the bitcoin off the back of the news, causing the digital asset to surge immensely during this time. As the digital asset has beat one important technical level, it remains to see if it can beat another. Accumulation Triggers Rally There are a lot of factors that usually trigger a rally, such as the one that has sent the price of bitcoin soaring high. One of those has been a....
Bitcoin had been trading in a narrow range after hitting a low of $210 near the end of the first half of this month. The market participants were hoping for some volatile price action (as is the nature of this digital currency) but were instead made witness to sideways consolidation. However, on a positive note, the consolidation looks set to end this week and a major breakout may happen very soon. Each Bitcoin is currently worth $226.10. An analysis of the 240-minute BTC/USD price chart above reveals that, even though the bulls have an advantage, that might not prove sufficient to tame....
Key Highlights. There was no major move noted in Dogecoin price, and it looks like it is trading inside a range plus waiting for a catalyst for the next move. Range resistance is around 42.0 Satoshis and the support lies around 36.0 Satoshis. There is a sharp divergence noted in the hourly RSI (price feed from HitBTC) that fails to match the current price action. Dogecoin price continued to move inside a tiny range. A break on the either side may ignite some volatility moving ahead. 42.0 Satoshis as a Resistance. We had a look at the daily timeframe chart of Dogecoin price yesterday and....