Bitcoin Price Aims For $21,000, Will There Be A Wider Trend Change?
Bitcoin price has again registered an uptick in the last 24 hours. In that timeframe, the coin has surged by 3%. This has also helped other major altcoins turn green at press time. In the past week, BTC has rallied almost 8%. If the bulls keep pushing, then claiming the $21,000 mark would not be a difficult move for the Bitcoin price. The technical outlook has again turned towards the bulls. Buyers have taken control of the price in the market. Demand has also gone up for the asset. The chance of a price pullback cannot be ruled out completely. The coin has to barrel past its overhead....
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BTC price at press time: US$248.00. Bitcoin has finally broken above the noted 50 day Exponential Moving Average (EMA) at US$233 and done so with force. It now also sits above the 100 day EMA (~US$241) as well. It’s possible a change of trend could be underway, but it is still too early to tell. This move has been made on very small volume and On Balance Volume confirms this. If the trend is truly going to change, volume should ideally come in.
After having been continuously forming an upward trend, Bitcoin’s price has undergone a powerful downward impulse. Will that affect further growth? The short-term upward trend continues. A sharp change in the trend indicates that the majority of the bulls did not expect a continuation of the trend at that point. The structure of the price is not formed enough for medium-term growth. Currently, the price is going upwards, but it’s also near a medium-term level, which it may bounce off again. The critical rebound level is the price with the largest trading volume, which is $418.5. The upward....
The last month of winter started with an upward trend. That trend is over and it’s time for the market to decide on a new direction. Over February, Bitcoin’s price has grown by more than 16% and stopped at around $447 per bitcoin. The start of Spring marks the beginning of a new cycle on the BTC/USD graph. Bitcoin’s price has stopped at a point where one cycle is changed by another, more significant one. Change of Bitcoin price trend direction. As a rule of thumb, such points precede a change of direction and a return to previous levels. There is a good possibility of a decline towards the....
Key Highlights. Bitcoin price after trading as high as 320.00 moved lower and broke an important support area. The recent break in Bitcoin is calling for a trend change, which is likely to call for more losses. Bitcoin price looks like heading lower, as sellers managed to clear a couple of important support levels. There was a solid upside reaction recently in the Bitcoin price, but once the price tested 320.00 there was a downside reaction noted. The price declined heavily and shredded more than 10% gains to trade below 280.00. However, there is one more major support area building on the....
Ethereum price change in bias forecast was a success, as ETH/USD spiked higher and even broke the $10.00 resistance area. Ethereum Price – Buy near trend line support? Ethereum price ETH continued to trade higher against the US and just as I forecasted a change in trend from bearish to bullish, there were bids during the past couple of sessions. Yesterday, I mentioned that the price may even test the $10.00 level, and it did happen recently. ETH/USD broke the stated level and traded as high as $10.44. Now what? I think buying dips may be considered. There is a bullish trend line formed on....