Bulls Regain Control Over Bitcoin Trend Strength: What To Expect
Bitcoin bulls are back in charge, so to speak. The headline alone makes quite a statement, and there are no doubt several readers questioning how one might draw such conclusion after only a small move and lack of new highs. The conclusion has been made for us all, depending on what the Average Directional Index is currently saying about an asset – in this case the top cryptocurrency by market cap. Let’s take a look what the trend strength measuring indicator says about Bitcoin price action. Tug-Of-War Ends With Bears Falling Flat Last week, after several weeks of chop and stalemate,....
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Bulls have been struggling to gain decisive control of Bitcoin throughout the past few days and weeks This has resulted in it being quite heavy, with each rally being aggressively sold into as bears aim to push it back down to $30,000 Despite this, the crypto has been able to hold strong within the lower-$30,000 region, and every dip below $30k has been met with massive buy-side support There’s a possibility that this support is […]
Bitcoin and the entire crypto market saw a wild day yesterday, with strong bids sending most major crypto asset’s flying higher Some of these gains were erased today, with bulls losing their edge over the market as bears try to regain control The recent downtrend has been accelerating rather quickly, but bulls do seem to be building some support in the lower-$36,000 region And dip below here could be a grim sign for the entire […]
Bitcoin price is back at $46,000 after a few month reset back to $30,000 and slightly below. A more than 50% collapse from the current all-time high of $65,000 had the cryptocurrency community calling for a bear market, but according to a trend strength indicator, bears are nowhere in sight. In fact, the tool, called the Average Directional Index suggests that bulls are now back in control over Bitcoin price action on every major timeframe. Bitcoin Ready For Final Push According To ADX Indicator Bitcoin is an unusually bullish asset that has only truly known a secular bull market despite....
Dogwifhat (WIF) has resumed its upward trajectory, with the price approaching the key $2.89 level as bulls take back control. After a period of consolidation, renewed buying pressure has fueled the meme coin’s rise, signaling that momentum is once again favoring the bulls. With increased buying pressure and positive market sentiment, WIF is showing signs of an impending uptrend. As WIF edges closer to this significant resistance level, this article will assess its recent price action, highlighting the bulls’ regained strength. Through an analysis of key technical indicators and....
Bitcoin has seen some immense volatility as of late, with bulls reversing its recent losses entirely overnight as they regain control of the crypto This price action confirms that the latest selloff was one that is quite common during bull markets when the crypto retraces 30-40% before continuing its ascent BTC’s strength is creating tailwinds for the entire market, as ETH and most other major altcoins have also surged higher One trader is now noting […]