Saturday , July 31 2021
Home / Tag Archives: Bitcoin (BTC) Price

Tag Archives: Bitcoin (BTC) Price

The Bullish and the Bearish Case For Bitcoin Following the Rally to $40K (On-Chain Analysis)

Going through the recent week and touching the $40K mark, there are some promising signs in on-chain data that could lead to a further price recovery in the market. However, some metrics still make an immediate rally back to the all-time high a questionable probability. Let’s explore the bull and the bear case for Bitcoin’s price in the current market condition, stemming from predominantly on-chain information. Supply Shock – The Bull Case To summarize the overall bullish...

Read More »

Crypto Price Analysis & Overview July 30th: Bitcoin, Ethereum, Ripple, Binance Coin, and Solana

Bitcoin Bitcoin saw an impressive 20% price hike this week as it reached the $40K resistance level. The cryptocurrency penetrated above a descending wedge formation last Thursday and continued above the 20-day MA level last Friday. Since breaking the wedge, BTC surged higher inside an ascending price channel as it broke the 50-day MA level for the first time since May and continued to hit the $40k resistance. It did spike above $40K, reaching $40,500 (bearish .382 Fib) but...

Read More »

Local-Top Indicators Flash for Bitcoin: 3rd Biggest Whale Sent 3,000 BTC to Coinbase

BTC’s recent 9 daily candle streak to the upside has been very impressive. We have been tracking the third-largest BTC whale wallet and found interesting activity and signals. The whale entity, at one point, held over 116,841 BTC. Its current total BTC holdings stand at 113,841. The recent sales from this address since April 2021 have accurately marked local tops in BTC, as shown in the chart below. Chart by TradingViewThis doesn’t necessarily mean that bitcoin’s price will...

Read More »

Bitcoin Price Analysis: After 22% Weekly, Is BTC Set for Correction?

Bitcoin is up by an impressive 22% this week as it currently battles with the $40K resistance area. As mentioned before, for the past two months, bitcoin’s price was trading between $30K and 42K. This week saw its highest point since June 15 ($41.3K according to BItstamp). The past week has been promising for BTC, after breaking a descending wedge pattern and finally getting to overcome both the 20 and the 50 days moving average lines. This break of the 50-day MA was the...

Read More »

Analysis: Bitcoin is Undervalued, 2021 Bull Run Hasn’t Topped Yet

Bitcoin’s recent 55% drop from all-time highs may have done technical damage to the charts, but analysis strongly suggest BTC is still in a bull market. According to on-chain analyst “Gaah Cordeiro”, BTC is still in a bull market as shown by the MVRV Onchain metric. What is MVRV? MVRV stands for Market Value to Realized Value. The metric divides BTC’s Market Value by its Realized Value. This creates a ratio that can show if the cryptocurrency is overvalued or undervalued. A...

Read More »

Bitcoin Facing Critical 2-Month Resistance, Will The Uptrend Continue? (BTC Price Analysis)

Bitcoin is up by a whopping 25% during the week as the primary cryptocurrency reached over $40K yesterday – the highest point since June 15, 2021. As shown on the charts below, BTC price broke above a falling wedge formation toward the end of last week and eventually managed to climb above the key resistance level provided 20-day MA on Friday. Then, the price continued over the weekend to finally have a daily close (Sunday) above the 50-day MA, for the first time since May 9....

Read More »

Bitcoin Price to $5 Million? S2F Model Creator Explains His Long-Term Prediction

PlanB, a quantitative Bitcoin analyst and the creator of the popular stock-to-flow (S2F) model, is still very much bullish about the future of the leading cryptocurrency.  The drop in bitcoin’s price within the last three months has raised many questions among crypto traders and analysts on whether or not the bull market is still intact. However, PlanB is unconcerned about the current market trends, and he is looking ahead to what’s to come.  For clarity, the stock-to-flow...

Read More »

Bitcoin spikes to $48K on Binance: $100M shorts liquidated in minutes

Bitcoin prices are skyrocketing at the moment, with the digital asset surging as high as $40,000 on some exchanges. Futures prices went even higher with BTC tapping $48,000 on Binance futures. BTC futures, Binance – Tradingview.comAccording to Tradingview, Bitcoin has cranked 14% over the past 6 hours. It has currently retreated to trade at $38,300 at the time of press, after a gain of 7% over the past 24 hours. The massive momentum began early on Saturday when Bitcoin broke...

Read More »

Bitcoin Spikes to 18-Day High, Crypto Market Cap Nears $1.5 Trillion (Market Watch)

The bulls have resumed control over the market in the past few days and have pushed bitcoin to a near three-week high at almost $35,000. The alternative coins have also benefited from these developments, with ETH closing down to $2,200 and DOGE sitting at $0.20. Bitcoin Taps an 18-Day High Ever since bitcoin bottomed at $29,200 on July 20th, the cryptocurrency has been on a roll. It bounced off immediately and reclaimed $30,000 in just a few hours. Shortly after, more...

Read More »

Early Technical Signals Suggest a Larger Bitcoin Rally Potentially Coming (Price Analysis)

Since the false breakdown below 30k and back up, BTC has shown signs of an early trend reversal. This week’s close (on Sunday – midnight) is definitely a one to watch closely, as it will likely determine the next major direction for BTC. The first bullish signal was the low volume close below $30k on July 20th. On-chain data strongly suggested that short-term holders, retailers, and small miners were selling, while larger entities continued to accumulate and hold. Bullish...

Read More »