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....
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Bitcoin price is still trading at more than $25,000 less than the local highs set earlier in the year, and bulls have a lot of ground to reclaim. However, the lost ground might not be so bad after all, as it has brought the current market cycle a lot closer to past bull cycle comparisons, which could shed some light on what’s left for Bitcoin in terms of price action in the months ahead. Bitcoin Collapse Puts Market Cycle On Par With Previous Bull Run Following a sharp more than 55% decline across the board in cryptocurrencies – even the top dog Bitcoin – the market is....
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....
As this bitcoin price bull cycle carries on, everyone wants predictions of when the price may top out. We will add one framework to the mix.