Bitcoin price looks to resume bull cycle after rising above $34K
The price of Bitcoin has to break a key resistance level to revive its bullish trend. Bitcoin (BTC) has been consolidating since the recent all-time high at $42,000 and has risen back above $34,000 at time of writing. The current correction is currently at 30% already, as Bitcoin’s price has bounced from the $30,000 region several times. However, it remains to be seen whether Bitcoin’s price will start accelerating once again or whether BTC price needs more consolidation to build up strength.Several periods of accumulation were seen in 2020, where Bitcoin’s price ranged for a period of a....
Related News
Why this bitcoin price bull run could be the market cycle that takes us from gradually to suddenly reaching hyperbitcoinization.
In the usual style of the high market uncertainty and volatility associated with the current bull cycle, the price of Bitcoin (BTC) fell to around $77,000 in the past week before rising by over 10% to successfully reclaim the $85,000 price zone. Despite this price recovery, the heavy market corrections in recent weeks have drawn […]
The CEO at on-chain analytics firm CryptoQuant has declared the end of the Bitcoin bull cycle, but this analyst has provided a counterpoint. Realized Cap Could Provide Hints About What’s Next For Bitcoin In a post on X, CryptoQuant founder and CEO Ki Young Ju has explained why the bull cycle could be over for […]
According to a CryptoQuant analyst, the Bitcoin price top isn’t in yet if the pattern of past bull cycles holds any weight. Bitcoin Might Reach A New ATH In This Cycle As per a CryptoQuant post, it’s possible that Bitcoin hasn’t yet reached the cycle top, and that a new all time high (ATH) might be achieved soon. There are two ways to define a cycle. The first is to make the initial point the BTC halving. Here is a chart that shows how the price of the coin moved in the 2012, 2016, and 2020 bull cycles based on this criterion: Price vs the number of days after halving in....
Bitcoin price is currently testing the rising trend line visible on its 1-hour time frames and could be ready to resume its climb. Bitcoin Price Key Highlights. Bitcoin price is slowly climbing, moving above a rising trend line on its 30-minute and 1-hour time frames. Price is currently testing this rising trend line support, with technical indicators suggesting that a bounce could take place. A return in bullish pressure could take bitcoin price back up to the previous resistance at $590 or higher. Technical Indicators Signals. The 100 SMA is above the longer-term 200 SMA, which confirms....