As Bitcoin Sell Pressure Fades, Could A Local Bottom Be Forming? Analyst Expl...
According to an X post by crypto analyst Ali Martinez, Bitcoin (BTC) is witnessing a decline in sell-side pressure, indicating that a local market bottom may soon form for the premier cryptocurrency. Bitcoin Local Bottom On The Horizon? Bitcoin continues to trade just below the psychologically significant $100,000 level, hovering at $98,650 at the time of writing. However, the top cryptocurrency by market capitalization is witnessing a notable drop in sell-side pressure. Related Reading: Bitcoin 4-Year CAGR Drops To 14.45% But Still Outshines Gold, Stocks – Details Martinez shared the....
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According to a recent Quicktake post by CryptoQuant analyst abramchart, short-term Bitcoin (BTC) investors are incurring losses, suggesting that the crypto market may have hit its bottom and a trend reversal could be on the horizon. Has Bitcoin Bottomed? Bitcoin experienced significant volatility over the past week, dropping from $96,000 on February 23 to $78,258 on February 27. However, it recovered most of its losses yesterday, rebounding to as high as $95,000. Related Reading: As Bitcoin Sell Pressure Fades, Could A Local Bottom Be Forming? Analyst Explains In the Quicktake post,....
The XRP price fell as low as $2.0238 on Monday, potentially forming a local bottom. Since then, the XRP price is up almost 6%, however, the possibility of a deeper retracement remains. Two prominent chartists—CasiTrades (@CasiTrades) and Charting Guy (@ChartingGuy)—have shared their perspectives on whether the token has found its local bottom or if further downside might still be on the table. Is The XRP Price Bottom In? According to CasiTrades’ newly published chart, XRP appears to have tested the 0.786 Fibonacci retracement at $2.05 and is now showing bullish divergences across multiple....
Avoiding fallout from positions “putting in a local bottom” has been standard practice for prior BTC price bottoms, one analyst shows. Bitcoin (BTC) whales are betting on a rebound as fresh data shows “classic” bottom behavior.According to on-chain analytics platform CryptoQuant, large-volume investors are moving coins to derivatives exchanges en masse this month.Analyst: Whales protectin positions “forming a local bottom”As BTC/USD hit its lowest levels since the end of June, whales were responding kind.In one of its Quicktake market updates posted on Sept. 7, CryptoQuant analyst Maartunn....
An optimistic forecast for gold is making Bitcoin equally bullish, thanks to its erratically positive correlation with the crypto. Gold Boom Ahead Frank Holmes, CEO of US Global Investors, told Kitco News that the gold market is forming a bottom. Simultaneously, the analyst maintained his upside target for the precious metal at $4,000 in 2020 despite the fears of uncertainty around November’s US election and the second coronavirus stimulus package. “The bottom that you’re seeing […]
An analyst has explained how a pattern forming in the 3-day Ethereum chart could signal that a decline toward $1,700 may be coming. Ethereum Has Recently Formed A TD Sequential Sell Setup In a new post on X, analyst Ali talked about a sell signal that has taken shape in the ETH 3-day chart. The relevant technical indicator here is the “Tom Demark (TD) Sequential,” which is used to spot reversals in the price of any asset. The metric is made up of two phases; a setup phase and a countdown phase. In the former, candles of the same polarity are counted up to nine following a....