Bitcoin rebound hits $45.5K as focus switches to future support retests
It's been "up only" in recent days for Bitcoin price action, but when a retracement hits, hopes are pinned on $40,000 holding. Bitcoin (BTC) hit new multi-week highs above $45,000 on Feb. 8 as the largest cryptocurrency's comeback continued.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView$40,000 becomes popular retest targetData from Cointelegraph Markets Pro and TradingView showed BTC/USD reaching $45,500 on Bitstamp in its latest surge before consolidating.Volatility was once again in evidence as the pair fluctuated by $1,000 on intra-hour timeframes, circling $44,800 at the....
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Elon Musk could play a key role in reviving the Dogecoin market from the ongoing, TerraUSD-led bearish slumber. Dogecoin (DOGE) shows the prospect of undergoing a strong price rebound after reaching a technical support confluence on May 12.DOGE price 25% bounce incoming?DOGE's 45% price drop to $0.065 this week, or a 90% decline from its record high of $0.76 a year ago, was met with decent buying sentiment. As a result, the token underwent a modest price rebound on May 12, rising over 10% to $0.078.Interestingly, Dogecoin's upside retracement move started near a confluence of two support....
The MACD indicator hints at a potential bullish crossover as Bitcoin’s price retests $40,000 as support. A crossover between two Bitcoin (BTC) moving averages that appeared before the 2020 price boom is hinting at making a return in 2021, just as the flagship cryptocurrency eyes a bullish breakout from its current $30,000–$40,000 trading range.The indicators in focus are the MACD Line and Signal Line. MACD is an acronym for Moving Average Convergence Divergence, and a MACD Line represents the difference between the 12- and 26-period moving averages. Meanwhile, a Signal Line is a....
XRP has been on a consistent downward trend since the beginning of the just concluded week. A steady flow of consecutive bearish candles on the daily timeframe has pulled the price lower each day, eventually guiding it toward an important support at the time of writing. Related Reading: Bitcoin And Ethereum Face $14 Billion Options Expiry—Market Impact Ahead? As of now, XRP is pressing against the lower boundary of a symmetrical triangle, which could determine whether this dip becomes a deeper fall or the start of a rebound for the cryptocurrency. Symmetrical Triangle Support In Focus The....
$39,600 is the favored short-term target, whether or not Bitcoin price action ultimately returns to downward momentum. Bitcoin (BTC) staged new retests of $38,000 resistance on Jan. 26 as optimism increased over a potential recovery to $40,000 and higher.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewNext stop a $40,000 retest?Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it continued the rebound that began on Monday.At the time of writing, two breakthroughs of $38,000 had occurred, with the pair lingering just below that level amid further direction....