Bitcoin Forms Highest Weekly Candle Close In History

2020-12-7 03:37

After consolidating for many days, Bitcoin underwent one final push ahead of the weekly candle close just minutes ago. The price of the leading cryptocurrency currently trades for $19,400, far above the weekly lows. This one final push allowed BTC to push to its highest weekly close ever, according to a crypto trader known as Mayne:

“Highest weekly close ever on #Bitcoin.”

Highest weekly close ever on #Bitcoin!

— Mayne of Tether (@Tradermayne) December 7, 2020

There are other traders that recently noted that Bitcoin has set its highest weekly close ever.

Many see this as a validation that this isn’t a “double top” near $20,000 on a macro basis. Analysts are confident that BTC will continue its ascent higher now that it has set a new high.

Related Reading: Here’s Why Ethereum’s DeFi Market May Be Near A Bottom Bitcoin Holders Should Watch Out Below? 

While Bitcoin has made this technical accomplishment, there are some concerned that a drop is imminent.

Raoul Pal recently shared that as per the Tom Demark Sequential, a key time-based technical indicator, he fears that a correction is likely:

“Bitcoin is potentially facing some serious technical headways… the daily DeMark is showing a cluster on 2 13’s and a 9 and tomorrow might put in ANOTHER 13!”

Bitcoin is potentially facing some serious technical headways… the daily DeMark is showing a cluster on 2 13's and a 9 and tomorrow might put in ANOTHER 13! pic.twitter.com/TNPpLfR2nH

— Raoul Pal (@RaoulGMI) December 4, 2020

Pal is a prominent Wall Street veteran that spent his career running hedge funds and working as the head of hedge fund sales at Goldman Sachs. He retired from the hedge fund business and now researches markets and runs Real Vision for a living.

He recently put 98% of his liquid net worth into Bitcoin and Ethereum:

“Ok, last bomb – I have a sell order in tomorrow to sell all my gold and to scale in to buy BTC and ETH (80/20). I dont own anything else (except some bond calls and some $’s). 98% of my liquid net worth. See, you can’t categorize me except #irresponsiblylong.”

Many are unsure whether or not his technical warning is significant.

Related Reading: Tyler Winklevoss: A “Tsunami” of Capital Is Coming For BTC Falling Dollar to Help BTC

A falling U.S. dollar will help the price of Bitcoin, though.

The U.S. dollar index, the DXY, is currently breaking below key support levels. This has resulted in a relative surge in the value of foreign currencies.

Many expect further losses in the value of the U.S. dollar to value the Bitcoin bull case.

Related Reading: 3 Bitcoin On-Chain Trends Show a Macro Bull Market Is Brewing Featured Image from Shutterstock Price tags: xbtusd, btcusd, btcusdt Charts from TradingView.com Bitcoin Forms Highest Weekly Candle Close In History

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 71340.63 (+0.06%)
Объем 24H $26.643b
Изменеия 24h: 0.45 %, 7d: 4.52 %
Cегодня L: $70639.44 - H: $71399.02
Капитализация $1406.116b Rank 1
Цена в час новости $ 19282.51 (269.98%)

weekly bitcoin close candle leading price ago

Источник: newsbtc.com

weekly bitcoin → Результатов: 126


Bitcoin Weekly Chart – What is BTC Telling Us?

GREEN CANDLES! When moon? We’re going to $10,000 now! Just some of the terms you see flying about in the crypto community the past week via various social media platforms. But if we just take a step back and zoom out, what is the Bitcoin weekly candle signaling or hinting? I always like to analyze […] The post Bitcoin Weekly Chart – What is BTC Telling Us? appeared first on ZyCrypto.

2019-4-7 11:45


Big Shift in Market Sentiment After Price Spike for Bitcoin & Dogecoin [Price Analysis]

Bitcoin Analysis After almost three months of Doji candles and small-bodied candles recording on the weekly chart for market leader Bitcoin, a significant spike took place early this week. The primary reason analysts believe the price increased so rapidly was due to short seller liquidation, which serves to drive price higher.

2019-4-6 16:54


Ripple’s XRP & Stellar Lumens [XLM] Price Action – XLM Unaffected After Negative Research Report

There was more volatile price movement from Ripple’s XRP cryptocurrency this week after three weeks of tight movement and consolidation. The price nonetheless is closing the week with a Doji candle which indicates traders are still uncertain about the future price prospects of the third-ranked cryptocurrency by market cap.

2019-3-31 11:34


Фото:

Bitcoin Price Analysis: Bears Look to Trap Bulls Into Weekly Close

As the Bitcoin price weekly candle draws towards a close for the week we take a look at what the performance over the week looks like going into the final week of March. Bitcoin price: 4-HOUR CHART Looking at the4-hour chart, we can see that the bitcoin price has spent the last few days oscillating around the weekly opening price of $3965, with the bears continually attacking this level.

2019-3-24 22:30


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin Price Turns Green: Poised for a Major Upswing

Bitcoin price started a fresh increase above the $70,000 resistance. BTC is showing positive signs and might rise further above the $72,000 resistance in the near term. Bitcoin started a decent increase above the $69,500 and $70,000 resistance levels.

Bitcoin Price Gains Momentum: Bullish Surge Ahead?

Bitcoin price found support at $67,000 and started a fresh increase. BTC climbed above $69,500 and might continue to rise in the near term. Bitcoin started a decent increase above the $68,500 and $69,500 resistance levels.