Tag Archives: Bitcoin (BTC) Price

Bitcoin’s price has been consolidating following the recent recovery. While the market structure has shifted bullish in the short term, there is still a key level for the price to take out to begin a new bull market. Technical Analysis By: Edris The Daily Chart: On the daily chart, it can be seen that the price has been ranging below the $30K level over the last 10 days. Yet, today’s candle is showing promising momentum to the upside, and the price could finally test the key...

There’s been a lot of talk about Bitcoin’s potential to one day reach $1 million per coin – possibly within the next few years.  But is that a reasonable assumption? Here are the data points to consider when assessing Bitcoin’s likelihood of reaching seven figures.  The Halving Cycle Bitcoin’s monetary issuance schedule is designed to cut the rate of newly issued coins every 210,000 blocks – roughly once every 4 years. These “halvings” are known to be a major catalyst for...

After reaching the critical price area of $29-30K, Bitcoin’s bullish rally got rejected, and the price went back into the $27-28K consolidation range. Over the next short-term, the $30K mark will likely serve as the most major resistance. This range was the bottom recorded in mid-2021 before the rally to the current Bitcoin’s ATH at $69K recorded in November 2021. Technical Analysis By Shayan The Daily Chart After forming a pullback to the 100-day moving average line at...

The cryptocurrency space rejoiced recently when several large US banks halted services, and the FDIC, as well as other regulators, had to intervene to stop the contagion. However, the crisis expanded to Europe this week, with two of the most prominent names facing significant problems. Credit Suisse was acquired by the largest Swiss bank – UBS, for almost $3.3 billion, which was more than 60% less than what the former was worth days ago. This propelled another leg up in terms...

Bitcoin’s impulsive rally seems to have temporarily halted, and the price will likely enter a correction phase before the next leg up. Overall, Bitcoin is facing significant resistance at the $30K level, which hasn’t been tested yet. Technical Analysis By Shayan The Daily Chart After forming a pullback to the 61.8% level of the Fibonacci entrancement level at $19.6K, the price initiated a massive rally with a current high above $28K. However, the bulls couldn’t reach the...

Despite fears surrounding the US banking sector, the Fed has followed through on its plans to quell inflation with an interest rate hike of 25 basis points on Wednesday. The decision notably affected the price of Bitcoin, which pumped $300 within 5 minutes of the announcement. Bitcoin started the day trading at $28,216, before rising to $28,417 ahead of FOMC.  The asset then broke upwards to $28,752 following the interest rate decision. It trades for $28,480 at writing...

As Bitcoin returns to a 9-month high above $28,000, a growing number of on-chain signs show the asset may be entering an early bull market.  On Monday, blockchain analytics firm Glassnode said the Bitcoin market “appears to be shifting gears” amid turmoil within the traditional banking system.  Reclaiming Momentum According to the firm’s weekly report, Bitcoin’s monthly average transaction count reached 309.5k/day this week – its highest level since Bitcoin surged to $64,000...

The Fear and Greed Index – a metric that shows the overall sentiment toward bitcoin – currently points at 66, the highest level since November 2021. One factor behind the investors’ predominantly bullish perspective could be the impressive price performance of the primary cryptocurrency, which has been up nearly 30% for the past week. Greed Among Investors  Most cryptocurrencies, including bitcoin, have recently shown remarkable resilience to the global economic issues...

Bitcoin’s price rallies after breaking above a significant resistance level. However, the 2022 bear market is not over yet until another critical level is broken to the upside. Technical Analysis By: Edris The Daily Chart On the daily chart, Bitcoin’s price had seen a massive uptrend over the past week, following a V-shaped rebound from the 200-day moving average located amid the $20K mark, followed by a decent breakout above the $25K resistance level. Currently, the price is...

Markets are starting to price in an incoming Fed pivot as bank instability forces central banks to protect the financial system.Analysis from CryptoQuant analyst Cristian Palusi suggests that the liquidity crises now plaguing commercial banks may be a “long-awaited buy signal” for Bitcoin.  Banks Down, Bitcoin Up In a post published on Thursday, Palusci noted that the implied federal funds’ policy rates have severely shortened their time frame for when they think the central...