Over the past few weeks, Bitcoin has performed surprisingly well, rallying as high as $7,100 (on Bitstamp) just days ago, surging higher from the $3,800 bottom seen during the March 12th to 13th capitulation. Even though the bull trend has been exhausted, BTC continues to trade at $6,600, consolidating in the mid-$6,000s as it determines which way to head next.
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Despite this price action, the cryptocurrency remains below a number of key resistance levels, as pointed out by noted Bitcoin trader Filb Filb, who called BTC’s price action for all of Q4 and in January.
Bitcoin Needs to Break Past $8,000
In a recent TradingView analysis, cryptocurrency analyst Filb Filb drew attention to the importance of $8,000, a price point which he stated has the “worst cluster of resistance seen since the bear market of 2018.” Indeed, he noted that the following technical levels are currently situated at $8,000 (subject to change over the next few weeks):
The 200-day moving average.
The 100-day moving average.
The 50-day moving average.
The 20-month moving average.
Bitcoin’s 61.8% Fibonacci Retracement of the February high to the $3,800 bottom.
And the yearly pivot level.
Can It Clear That Level?
The pertinent question remains — does Bitcoin have the potential to clear $8,000?
Analysts, unfortunately, are divided about this question.
Per previous reports from NewsBTC, Bitcoin is in the midst of following the bump-and-run-reversal bottom schematic found in Thomas Bulkowski’s Encyclopedia of Chart Patterns.
As it stands, BTC is in the fourth phase of the BARR bottom, which should be followed by a surge past the phase one highs around $9,000 in the coming week or two, meaning the whole capitulation could be shortly reversed.
The thing is, there remains the overhead risk of traditional markets continuing to fall, which could depress Bitcoin. As explained by Chris Burnisike, partner at Placeholder Capital:
“If we get another “sell everything” moment in global markets, as we did the week of 3/9, Bitcoin & crypto will not be spared.”
This theory has been echoed by trader Cantering Clark, who remarked that the “moment equities s**t the bed again Bitcoin will follow,” explaining that the reality is some of the world’s “largest and most fundamentally important industries” are being adversely affected by the coronavirus outbreak, making it unlikely crypto will be spared.
The analyst further explained that there’s also no telling which crypto companies, including Bitcoin exchanges, will be affected by the global fallout of a recessionary event, further putting BTC at risk of collapse.
While the stock market saw extremely strong two days of green on Tuesday and Wednesday (with Tuesday registering a multi-decade record in terms of the Dow Jones’ daily % gain), COVID-19 continues to spread at a growing rate around the world while countries have announced extreme unemployment, seemingly suggesting it may take a while for the economy to get back on its feet without help.
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Bitcoin prices have jumped almost 6% over the past couple of hours as news emerges of a US airstrike on Iranian military personnel. Bitcoin Price Surges $400 A huge green candle has just appeared on the hourly BTC chart sending the asset surging back above $7,000.
Even though Bitcoin has a high probability of a continued decline, multiple indicators show that it there’s also an opportunity for a bullish impulse up to $9,800. Technical analysis Bitcoin recently broke out of a three months long consolidation period that began on June 26 when it peaked at nearly $14,000.
Since breaking the $8k barrier on May 14, Bitcoin has remained in this range for over a week. A short-lived correction sent it barreling back to $7k but a recovery came less than two days later after a certain high profile news outlet predicted a bigger dump.
Bitcoin has been able to continue its slow upwards ascent and is now tepidly advancing towards $5,400, which has historically proven to be a strong level of resistance that BTC has failed to break decisively above since it first began surging earlier this month.
The large upwards momentum that Bitcoin incurred over the past couple of weeks appears to have petered out as BTC has failed to advance past $5,400 since surging from lows of roughly $4,000 last month.
Bitcoin and most of crypto is surging once again. The entire market capitalisation for all digital assets has risen from a daily low of $171. 33 billion to over $176. 5 billion at the time of writing.
With Bitcoin surging over the past couple of weeks, it is no suprise that the Google search trends for…
The post Google Trends Bitcoin Search Volume: The Leading Indicator Or Actually Everyone Gets It Wrong? appeared first on Invest In Blockchain.
Bitcoin (BTC) has been able to continue maintaining stability in the lower-$5,000 region after experiencing some large and overwhelmingly positive volatility over the past couple of weeks. This price action has allowed most major cryptocurrencies to see major price gains that harken back to the massive gains seen in late-2017, with many cryptos surging 50%.
Bitcoin Looking To Make A Higher Move Only To Run Into A Wall Bitcoin is very well on its way to $5,300 as it is currently surging by 2.64 percent with its market cap moving closer to $100 million. From February 7th, the price had started surging, going from about $3,380 to $4,914 last week. […]
Welcome back crypto family, the bitcoin price is surging again reaching $5,310 with a 4% change in the last 24 hours and continues to rope in more believers who see bitcoin's future becoming bigger and brighter despite some short-term uncertainty.
Bitcoin is yet again up nearly 3 percent at $5,156, as per Coinmarketcap. After getting corrected lower to around $4,890, BTC price has started surging and going well above $5k. However, according to experts, this is the zone where Bitcoin will start its next accumulation.
In the last 24 hours, the price of Bitcoin Cash surged from $287 to $322 by more than 12 percent as the valuation of the crypto market increased by around $4 billion. The 3 percent recovery of bitcoin led major crypto assets in the likes of Litecoin, TRON, and Ethereum Classic to record relatively large movements against the U.
The crypto markets have continued to surge today, maintaining the upwards momentum that was first sparked when Bitcoin began to skyrocket from lows of $4,000. Today’s surge has led many cryptocurrencies to climb 3% or more, with some surging over 10%.
BTC Closing Above Its 200-Day MA Signals Bull Trend Bitcoin (BTC) has only been surging for less than a week, but Tom Lee has been making his rounds on mainstream media, proclaiming an end to. . .
On April 1, the bitcoin price initiated a large 19 percent rally from $4,200 to $5,000, peaking at $5,300 the next day across several major crypto exchanges. The rapid upside movement of bitcoin, which occurred in minutes, is said to have been triggered by two major factors.
What has been an explosive week for many cryptocurrencies, has ended for most of them in a stalemate. Although most are still in the green, their gains are lower than what they were posting earlier.
By CCN. com: Bitcoin is now top of the list of trending keywords in the Baidu search engine, China’s equivalent to Google. Due to the recent price surge, #bitcoin tops today's Baidu hottest emerging keywords.
Baidu is China’s top search engine. It is commonly referred to as the Chinese “Google” due to its popularity. Bitcoin appearing as a top trending word in China is notable for several reasons. When Bitcoin trends in searches, the coin also pumps.
Bitcoin’s Recent Bull Run Different Than October 2017 Bitcoin has performed surprisingly well this week, surging to over $5,000. The last time it was this high was in October 2017. For those who are skeptical – and there are a number of them – several differences exist between the past’s bull run and this week. […]
After a long and arduous winter, green shoots of a crypto market recovery have begun to emerge. Perhaps the only ones left out are the haters. Economist Nouriel Roubini comes to mind. If you ask market strategists at Fundstrat, they might say Roubini is in for a bumpy ride.
After yesterday’s monumental price surge that led Bitcoin to surge from the low-$4,000 region and past $5,000, there has been a lot of noise as to whether or not this move confirms the end of the persisting bear market – and if so, whether or not BTC will begin moving towards its late-2017 highs of.
Despite having promised to compensate customers who lost crypto assets following a security breach in January, New Zealand crypto exchange Cryptopia is yet to provide concrete details on the process.
Yesterday, bitcoin’s price hit 5-month highs over the course of an hour—surging from $4,200 to $5,000. Was a 20,000 BTC order, worth approximately $100 million, the catalyst that triggered bitcoin’s breakout? Bitcoin’s Sudden Price Jump Yesterday at 21:30 PT, bitcoin suddenly accelerated from $4,200 to $5,000 within 50 minutes.
The bitcoin price finally broke above an extended resistance channel to establish a new yearly high above the psychologically-significant $5,000 mark. Coinbase data shows that BTC/USD spiked during the early Asian trading session, surging almost 23 percent in just two hours to $5,120.
Bitcoin Might Be Overextended The move that crypto investors en-masse have been waiting for finally happened on Tuesday morning. Within a matter of an hour, Bitcoin (BTC) rallied by 15%, surging past $4,200, $4,400, $4,600,.
After rapidly surging to above $4,200 before plummeting back below $4,100 on Saturday, Bitcoin (BTC) has been able to incur some upwards momentum that has allowed it to tepidly move above $4,100. It is important to note that Bitcoin’s strongest level of resistance exists at $4,200, but analysts are expressing cautious optimism regarding the current.
Bitcoin [BTC], the largest cryptocurrency in the world, was surging over the past few hours, at press time. This pump in price helped BTC cross strong resistance at the $4,200-mark, pushing the king coin’s value to $4,228.
Bitcoin (BTC) has once again been able to extend its winning streak and is now tepidly approaching its next resistance level of $4,100. This resistance level has proven to be quite strong over the past several weeks, and it will likely require a massive surge in buying pressure to propel the cryptocurrency above this level.
Bitcoin Transactions are surging yet again, all thanks to Veriblock. In early March, after Veriblock testnet ended, the transactions on bitcoin blockchain took a serious dip which given the fact that the estimated amount of block-space used by VeriBlock is between 20 to 45 percent, it makes sense.
Bitcoin (BTC) has been slow at surging above $4,000 although it has also managed to maintain its position there. This has made it hard to tell if it will be going up or down the next minute. However, a renowned analyst has projected that BTC will hit $55,000 by 2020 when the halving of its […]
The post Analyst Projects $55,000 Price for Bitcoin by 2020. Is this Possible? appeared first on ZyCrypto.
By CCN. com: The bitcoin price on Wednesday extended its rebound from $3,859, surging as much as 2. 80-percent since the Asian session to crack $4,000 on most major crypto exchanges. As of 18:20 UTC, the bitcoin-to-dollar exchange rate was trading at $4,011, down 0.
By CCN. com: The Dow whipsawed into the US trading session on Wednesday, shaking off a weak futures performance – and more bearish news for Boeing – to rise nearly 100 points, only to suddenly swing back into the red just half an hour later.
EOS is surging ahead of other top cryptocurrencies this Wednesday. The EOS protocol’s native token established a fresh session high at $4. 11, up 11. 68-percent from today’s open. In contrast, Bitcoin, Ethereum, XRP, and other top coins managed gains between 2- and 7-percent, barring Cardano’s ADA, which surged up to 10-percent.
Throughout the past three months, the bitcoin price has flirted with the $4,200 resistance level, often struggling to maintain momentum above the key $4,000 mark. Several traders have demonstrated concerns over the extended period of stability demonstrated by bitcoin because, in late 2018, the cryptocurrency recorded a drop of around 50 percent following three months of stagnation in the $6,300 to $6,500 range.
It would appear most of the bearish pressure which seemed to materialize yesterday evening is no longer in place at this time. Some of the top markets are moving up in a decisive manner, whereas others are still on wobbly legs.
Bitcoin perma-bull Tom Lee of Fundstrat tried to buttress his recent projection that the bitcoin price is due for a major rally soon. On March 17, Lee tweeted that the “tailwinds” that had dragged bitcoin down during the current Crypto Winter are easing.
Crypto markets have jumped $6 billion; Bitcoin Cash surging, Crypto. com up 500% this week, Ethereum and Litecoin doing well. Market Wrap The momentum has continued on crypto markets as we begin the weekend.
It seems to be officially the season of altcoins as they start surging and making strong gains while Bitcoin remains sluggish, barely moving from its place at around $3,900. According to crypto traders, mid-cap altcoins are the best bet to make gains as their prices shoot up like crazy bringing in sometimes over 100 percent […]
Emerging markets and their respective currencies are on the rise, which historically has had some correlation with the price of Bitcoin. According to Morgan Stanley, the global emerging markets benchmark is expected to rise by around 8 percent in 2019, primarily due to the increase in interest in the Chinese stock market following the optimistic prospect of the trade deal.
Crypto markets creeping slowly higher; Stellar still climbing Bitcoin and Ethereum remain flat. Market Wrap The weekend has passed with no major movements on crypto markets as the consolidation continued.
In the past 3 months, the Bitcoin price has been relatively stable, performing strongly against the U. S. dollar with solid volume across major markets in the likes of the U. S. and Japan. Since December 16, within a 3-month span, the Bitcoin price has increased from its yearly low at $3,122 to $3,943, testing the $4,000 resistance level.
It would seem as if most of the bullish cryptocurrency momentum has begun subsiding again. While that is not entirely abnormal by any means, it seems this can cause a lot of unrest among traders and investors.
A new report claims that cash is “on the verge of collapse” in the UK, with cash transactions expected to almost vanish in the next decade. Meanwhile, bitcoin transaction volume is surging towards an all-time high and mainstream vendors like Starbucks and Krogers are considering methods of cryptocurrency payments.
Litecoin has once again acted as a leading indicator for price performance surging an hour prior to Bitcoin surging. Litecoin is now continuing its increase giving greater odds that Bitcoin will also continue its increase.
Binance Coin (BNB) rallied recently above the $12. 00 and $12. 50 resistances against the US Dollar. BNB is gaining bullish momentum while bitcoin, Ethereum, ripple and litecoin extended losses. Key Talking Points Binance coin is outpacing.
Square, the $31 billion payments giant, processed over $166 million in Bitcoin purchases throughout 2018. Square Bitcoin Revenue Eclipses $50 Million in Q4 According to the firm’s Q4 shareholder letter, Square processed the sale of $52.
As crypto markets settle down from their epic dump over the weekend things are starting to move once again. Bitcoin itself has done very little but the spawn of its sibling, Bitcoin Cash, is doing very well at the moment.
Bitcoin price continued surging through the early hours of Sunday morning, making new highs for 2019, up 1. 9% at $4190. As we head into the weekly close we look at the price action and what may lie ahead.
