These Factors Suggest Bitcoin is on the Cusp of Setting Fresh All-Time Highs

These Factors Suggest Bitcoin is on the Cusp of Setting Fresh All-Time Highs
фото показано с : bitcoinist.com

2020-12-4 21:00

Bitcoin has been struggling to break above $20,000, with each visit into the upper-$19,000 region sparking a massive inflow of selling pressure The cryptocurrency’s reactions to these rejections have grown more tempered, which is a bull-favoring sign Where the entire market trends in the mid-term will depend largely on whether or not this resistance can be surmounted anytime soon One trader is noting that there are a couple technical signs that are currently working in the cryptocurrency’s favor He points to its ability to stabilize above its cloud formation, as well as its MACD testing a bull cross These two factors alone could be enough to bolster its price action and push it higher

Bitcoin and the rest of the cryptocurrency market have been caught within the throes of an intense consolidation phase throughout the past few days.

This has come about due to BTC’s inability to firmly break above the mid-to-upper $19,000 region, with the selling pressure here sparking multiple strong rejections over the past few days.

It has been setting higher-lows following each rejection, and one analyst is now pointing to a couple of indicators that seem to suggest upside is imminent for the cryptocurrency in the days ahead.

Bitcoin Pushes Higher as Bulls Aim for Another $19,800 Test 

At the time of writing, Bitcoin is trading up just under 1% at its current price of $19,350. This is around the price at which it has been trading just below throughout the past few days.

Where it trends in the mid-term will undoubtedly depend at least partially on whether or not it can navigate into the mid-$19,000 region without facing any harsh rejection.

If it can do this, then another test of the crypto’s all-time highs of around $19,800 could be imminent.

Analyst Points to 2 Bullish Factors that Boost BTC’s Outlook

One trader is pointing to 2 specific factors that indicate that upside could be imminent for Bitcoin and the entire market.

He notes that BTC’s price is currently holding steady above its cloud formation, with its MACD in the process of testing a bull cross.

“Woke up below 20,000$ – who do we blame for this? On a bright side: – price action chilling above cloud – MACD testing that bull cross…”

Image Courtesy of Teddy. Source: BTCUSD on TradingView.

The coming few days should provide insight into whether these technical developments will be enough to propel Bitcoin past its all-time highs.

Featured image from Unsplash. Charts from TradingView.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 61081.73 (+0.13%)
Объем 24H $24.297b
Изменеия 24h: -3.36 %, 7d: -4.67 %
Cегодня L: $60488.04 - H: $61081.73
Капитализация $1198.131b Rank 1
Цена в час новости $ 19375.4 (215.25%)

these bitcoin depend largely whether mid-term trends

Источник: bitcoinist.com

these bitcoin → Результатов: 126


Does the Head & Shoulders Pattern for Ethereum [ETH] Mark the End of its Bullish Outperformance?

Ethereum has been outperforming other major cryptocurrencies since mid-December. However, the second largest cryptocurrency has failed to keep up with the recent bullish movements. A surge took place across the market yesterday which was led by Litecoin initially appreciating over 10% and other major cryptocurrencies then following suit.

2019-1-7 18:24


Examining The Growing And Worrying Case Of Cryptocurrency Derivatives Around The World

The Worrying Case Of cryptocurrency Derivatives Around The World The world of cryptocurrencies is eagerly awaiting the upcoming Bakkt physical bitcoin derivatives to be launched this year. The possibilities that these new investment assets hold for bitcoin and the overall cryptocurrency market include increasing liquidity in the market and investors’ adoption rates too. However, cryptocurrency […]

2019-1-4 19:38


Фото:

Bitcoin Price Analysis: Range-Bound Market Coiled for Next Move

For the better part of a month and a half, bitcoin has been fairly range-bound and unable to establish new lows or new highs. There are some bullish and bearish setups on the horizon for bitcoin, so let’s check out both sides of the argument because currently the market is sitting in the middle of Indecisionville — the most immediate sign of which is this glaringly obvious head-and-shoulders bottom reversal pattern:Figure 1: BTC-USD, Daily Candles, Head-and-Shoulders BottomThis current pattern is nothing more than a setup at the moment, but it represents one potential outcome of this sustained consolidation.

2019-1-4 02:22


Фото:

Security Researchers Reveal Wallet Vulnerabilities On Stage at 35C3

In a demonstration titled “Wallet. fail,” a team of security researchers hacked into the Trezor One, Ledger Blue and Ledger Nano S. Unfortunately, it appears as if their findings were first put on display at the 35th Chaos Communication Congress (35C3) in Leipzig, Germany, rather than through accepted Responsible Disclosure practices, which would have allowed the manufacturers to patch the vulnerabilities and protect their customers from any potential attack.

2019-1-1 19:15


Kraken stirring the Ripple pot: Is it Ripple or XRP and why does it even matter?

One of the oldest cryptocurrency exchanges on the market, Kraken, announced that they’ll introduce XRP and Bitcoin Cash BCH margin trading on its platform. The addition will expand their margin offering to 8 assets, as these two will now be tradable alongside Bitcoin (XBT), Ethereum (ETH), Ethereum Classic (ETC), Augur (REP), Monero (XMR), and Tether […] The post Kraken stirring the Ripple pot: Is it Ripple or XRP and why does it even matter? appeared first on CaptainAltcoin.

2018-12-31 23:46


Фото:

Bitmain Reportedly Will Sack More Than Half of Workforce

The Chinese crypto mining company Bitmain has apparently been hit hard by the bear market and is looking to sack more than half of their entire workforce. Credible rumors of this story first began to circulate on Maimai, China’s equivalent to LinkedIn, as anonymous sources on a site frequently used by Bitmain employees began reporting that the company was looking at massive layoffs in the next several days.

2018-12-29 21:20


Фото:

Bitmain Reportedly Will Sack Up to 85 Percent of Workforce

The Chinese crypto mining company Bitmain has apparently been hit hard by the bear market and is looking to sack more than half of their entire workforce. Credible rumors of this story first began to circulate on Maimai, China’s equivalent to LinkedIn, as anonymous sources on a site frequently used by Bitmain employees began reporting that the company was looking at massive layoffs in the next several days.

2018-12-27 21:20


Bitcoin Price Analysis: BTC Steady, RBI Might Legalize Cryptocurrencies

Latest Bitcoin News Even if there are regulatory questions about the legitimacy of digital assets and other blockchain derivatives as cryptocurrencies, these solutions are finding use cases. Bitcoin is especially an innovation borne out of necessity, and ten years later, the asset has been disrupting thanks to its inherent properties as privacy, speed, and general.

2018-12-27 17:00


“larger fraud” Bitcoin Private developers manipulated the market with 2 million BTCP, Research Alleges

Using a Bitcoin codebase, researchers from Coinmetrics.io a cryptocurrency research firm discovered while running an update on Bitcoin private full node, that about 2 million BTCP was inserted into some shielded addresses by BTCP developers during the import of bitcoin to Zclassic(ZCL) a hard fork of Zcash: In verifying these figures, we ran a BTCP […] The post “larger fraud” Bitcoin Private developers manipulated the market with 2 million BTCP, Research Alleges appeared first on ZyCrypto.

2018-12-25 17:30


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru