Why The Price Of Bitcoin Will Break Out To New Highs Soon
The events transpiring now signal adoption is only going to pick up pace, indicating a rising bitcoin price.Last Week In Bitcoin is a series discussing the events of the previous week that occurred in the Bitcoin industry, covering all the important news and analysis.Summary Of The WeekIn what should have been a positive week for bitcoin, we saw dips and sideways action. Despite this, El Salvador continues making headlines as the country keeps buying the dip and citizens continue queuing for ‘coin.As the global economy is left reeling from scandals, rising inflation and an impending....
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Bitcoin Price Key Highlights. Bitcoin price has been trending higher on the short-term time frames but a reversal may be brewing since the rally has weakened. Price formed lower highs, suggesting that buyers are starting to lose steam and might not be able to sustain the climb any further. Bitcoin price is on its way to test the ascending trend line on the 1-hour chart once more, with a downside break likely to indicate that a selloff will take place. Bearish Divergence Seen? Stochastic has formed higher highs while bitcoin price made lower highs, creating a slight bearish divergence....
Here's what we are looking at tonight in the bitcoin price. So we are coming to the end of what has been a pretty eventful day in the bitcoin price. In this morning’s analysis, we noted that price over the weekend had gained to fresh highs, and that today, we would likely see a correction of these highs, or a continuation if price could break through the 700 mark. We set up so that we could enter according to our breakout strategy in either scenario, and as it turns out, the latter of these two situations proved to be the correct one. Price broke through 700, we entered along toward 710,....
In our intraday technical analysis piece we published yesterday afternoon, shortly before the European session drew to a close, we pointed out couple of key levels to watch in the bitcoin price and suggested that a break of any of these levels would offer us a medium-term bias and signal entry in the direction of the break. Action is now matured overnight, and we did see a break - somewhat unexpectedly - to the upside. This said, what are we looking at now in the bitcoin price? Take a quick look at the chart. As the chart shows, having reached floors of around 237 early Tuesday morning,....
Bitcoin price is gearing up for a strong break of the $600 level, determining if longer-term gains are in the cards. Bitcoin Price Key Highlights Bitcoin price staged such a strong rally on Friday that it’s ready to attempt a break past the latest highs at $600. If this area holds as resistance, bitcoin price could retreat towards support at $550. On the other hand, a move past $600 could put it on track to test the record highs at $1,200. Technical Indicators Signals The 100 SMA is still above the 200 SMA somewhat after nearly making a downward crossover late last week. This signals that....
Bulls and bears are still fighting over where to take bitcoin price next, as a break from this consolidation pattern would confirm which side wins. Bitcoin Price Key Highlights. Bitcoin price has formed lower highs and higher lows, creating a symmetrical triangle on its 4-hour time frame. Price is currently testing the triangle resistance and waiting for more bullish momentum to trigger an upside break. Technical indicators are giving mixed signals at the moment but a breakout could provide longer-term direction for bitcoin trading. Technical Indicators Signals. The 100 SMA is above the....