Here’s what traders expect now that Bitcoin price rallied back to $50K
Bitcoin is “back in bull market territory” but traders warn that a retest of underlying support levels is bound to occur soon. There was widespread celebration across the crypto ecosystem on Aug. 23 after the sight of Bitcoin (BTC) back above $50,000 triggered a resurgence of calls for the top cryptocurrency to reach $100,000 before the end of 2021. Data from Cointelegraph Markets Pro and TradingView shows that the early morning bullish momentum that lifted the price of BTC to an intraday high at $50,514 began to wane as the day progressed at currently the price trades slightly above....
Related News
ETH traders hint that the bull market could be back after Ethereum price hit $3,000 for the first time in 79 days. This week Ethereum's London hardfork was completed without a hiccup and investors have now reset their eyes on new highs above $3,100.Data from Cointelegraph Markets Pro and TradingView shows that the price of Ether (ETH) did in fact experience a “sell the news” sell-off shortly after London went live but dip buyers quickly rushed in and pushed its price back above $2,800, its highest level since June 7. This bullish momentum extended further after Bitcoin price surged above....
Bitcoin price hit a new 2020 high at $16,765, and traders expect a much larger rally to occur in the near term. The price of Bitcoin (BTC) hit a new yearly high at $16,717 on Binance. Following the breakout, traders expect a larger rally to occur in the near term.There are several reasons why analysts expect a prolonged uptrend. First, Bitcoin cleanly broke out of $16,000, taking out the $16,473 peak achieved on Nov. 13. Second, there is a “sell-side crisis” brewing as more BTC gets accumulated than mined. Third, BTC rallied despite indicators showing overbought signals.BTC/USD 1-hour....
Here's a look at what we are focusing on in the bitcoin price this evening. Ok, the end of another week is here, and it’s been a great one for us intraday traders. Price hasn’t stayed still for long, and when it has, it’s generally been on the back of some solid momentum runs, so we expect consolidation here and there. We’ve got the remainder of the US session left to pull out some final cash from the markets, and with any luck, we’ll be able to set up against action and do just that. We’re coming off the back of a strong week, however, so if nothing presents itself as tradeable, we’re not....
BTC price rallied back to a strong resistance level at $31,500, but traders caution that another whipsaw is the most likely outcome. Bitcoin's (BTC) short-term price action has been dominated by whipsaws that trigger around the $31,000 to $32,000 level and the June 6 reversal at this point triggered a quick sell-off that pushed the price down to $29,200. Surprisingly, on June 7, the price rapidly reversed course as Bitcoin rallied back to $31,500, but given the current rejection at this level, traders are likely to proceed cautiously, rather than expect a quick surge to $35,000.BTC/USDT....
Bitcoin price just secured a new 2020 high and traders expect the price to rise higher for 3 key reasons. On Oct. 21 Bitcoin (BTC) price overtook the $13K mark to reach $13,217 after traders took out key resistance levels at $11,900, $12,000, and $12,500 in the last 48-hours. While there are various technical reasons behind the abrupt upsurge, there are three key factors buoying the rally.The three catalysts are a favorable technical structure, PayPal enabling cryptocurrency purchases, and Bitcoin's rising dominance rate.PayPal's crypto announcement adds to BTC's momentumEarlier today,....