Bitcoin is edging closer to $17k as bullish sentiment grows stronger

2022-12-27 11:29

The crypto market is trading in the green zone for the second-consecutive day this week.

Bitcoin is closing in on the $17k resistance level and could cross it a few hours from now.

The total crypto market cap is now close to $815 billion.

Bitcoin closes in on the $17k level

Bitcoin, the world’s leading cryptocurrency by market cap, has been performing positively for the second-consecutive day. The leading cryptocurrency has been struggling below the $17k resistance level over the past few weeks. 

At press time, the price of Bitcoin stands at $16,886, up by less than 1% in the last 24 hours. With the bulls gathering momentum, Bitcoin could soon surge past the $17k resistance level in the near term.

Bitcoin’s positive performance aligns with that of the broader cryptocurrency market. The total crypto market cap stands at $813 billion, up by 0.36% in the last 24 hours. The positive performance comes after the market lost less than 1% of its value yesterday.

Ether, the second-largest cryptocurrency by market cap, is also trading in the green zone. So far today, the price of Ethereum is up by 0.26% and currently stands at $1,223. 

Key levels to watch

The BTC/USD 4-hour chart has turned bullish as Bitcoin has been performing well over the last few days. The technical indicators show that Bitcoin could be preparing for a breakout in the near term.

BTC/USD Chart By TradingView

 

The MACD line crossed into the positive zone a few hours ago, a sign that the bulls are currently in control of the Bitcoin market. The 14-day RSI of 51 also shows that Bitcoin is neutral but could head into the overbought region if it embarks on a rally.

If the bullish trend grows stronger, BTC could move past the first major resistance level at $17,178 before the end of the day.

However, Bitcoin would need the support of the broader crypto market to rally toward the $17,982 resistance level over the coming days. 

Where to buy Bitcoin now

eToro

eToro is a global social investment brokerage company which offers over 75 cryptocurrencies to invest in. It offers crypto trading commission-free and users on the platform have the option to manually invest or socially invest. eToro even has a unique CopyTrader system which allows users to automatically copy the trades of popular investors.

Buy BTC with eToro today Disclaimer

Coinbase

Coinbase is a global cryptocurrency exchange. Its platform is well designed for beginner investors and it offers a wide range of coins, as it has over 100 to choose from. Coinbase has high level security built into the platform, a range of diverse features to use and it offers its users options for storing their crypto, such as being able to store coins on the Coinbase exchange.

Buy BTC with Coinbase today Disclaimer

The post Bitcoin is edging closer to $17k as bullish sentiment grows stronger appeared first on CoinJournal.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Market.space (MASP) на Currencies.ru

$ 0 (+0.00%)
Объем 24H $0
Изменеия 24h: 0.00 %, 7d: 0.00 %
Cегодня L: $0 - H: $0
Капитализация $0 Rank 99999
Доступно / Всего 0 MASP

market bitcoin crypto 17k cross billion could

market bitcoin → Результатов: 126


Bitcoin’s (BTC) Bullish Patterns Emerge: Is a Market Super Cycle on the Horizon? Pay Attention to These Metrics

Bitcoin’s trading pattern lately reveals a consistent sideways movement, with fluctuations between $60,000 and $72,000. This trend, as highlighted by top cryptocurrency analyst Doctor Profit via a tweet on X, mirrors historical market behaviors that have typically preceded significant price increases.

2024-4-29 09:30


Ethena’s (ENA) Crucial Role In Bitcoin Bull Market: Expert Identifies Critical Factors For Sustainable Growth

The recent volatility in the Bitcoin (BTC) price and its struggle to consolidate above the $70,000 mark has raised questions about the sustainability of its ongoing bull run. However, market expert Charles Edwards, co-founder of Capriole Invest, believes that the decentralized finance (DeFi) protocol Ethena Labs (ENA) could significantly extend and boost Bitcoin’s bull market to new heights.

2024-4-10 03:00


Фото:

Option2Trade Remain Market Favorites With Ether As Bitcoin Reaches All-Time Highs

As Bitcoin (BTC) reaches all-time highs, setting the stage for further market growth, Ethereum (ETH) and Option2Trade (O2T) continue to shine as market favourites. Their sustained popularity amidst Bitcoin’s (BTC) milestone achievements highlights the multifaceted nature of the cryptocurrency market, where diversity, innovation, and community involvement are just as crucial for success. Ethereum’s (ETH) role […]

2024-3-13 19:33


Фото:

Bitcoin consolidating above $62k as bull market indicators start flashing

The crypto market has entered March with its foot firmly on the accelerator despite showing signs of a slight slowdown from its recent rapid ascent. Bitcoin (BTC) has continued to hover around the $62,000 mark, showcasing a resilient stance amid varying market sentiments after its remarkable rally past the $60,000 threshold to a high of […] The post Bitcoin consolidating above $62k as bull market indicators start flashing appeared first on CryptoSlate.

2024-3-3 18:32


Фото:

Bitcoin already in fifth bull market, to reach $125,000 by December 2024 – Matrixport

Bitcoin’s (BTC) price is expected to rally to as high as $125,000 by the end of 2024, crypto services provider Matrixport said in an Oct. 26 note shared with CryptoSlate. This prediction is based on the institution’s belief that the market has entered the fifth phase of Bitcoin’s bull market, primarily driven by “the expectations of […] The post Bitcoin already in fifth bull market, to reach $125,000 by December 2024 – Matrixport appeared first on CryptoSlate.

2023-10-26 15:10


Bitcoin Dominance Returns Above 50% As Altcoins Encounter Resistance

With a market valuation of almost $520 billion and a current price of $26,690, Bitcoin has reclaimed the limelight. It now accounts for more than half of the entire cryptocurrency market. This turning point is important because it occurs at a time when many alternative cryptocurrencies are stagnating or declining. It’s worth noting, though, that […]

2023-9-19 10:30


Фото:

Bitcoin Price Supported By Thin $40 Million Bid Pool, But For How Long?

In the ongoing market turbulence on higher timeframes, Bitcoin (BTC) is at a crucial juncture as a great consolidation phase persists. Research and analysis firm Material Indicators closely monitored the recent weekly candle close/open, paying particular attention to two key factors: the trend line and the 21-day, 21-week, and 21-month moving averages (MA) – all of which are currently influential in shaping market dynamics.

2023-8-15 02:00


Bitcoin Cash price moved to a bear market: Buy the dip?

Bitcoin Cash price has moved to a bear market after falling by 22%. The coin has more short-term downside as it moves from the overbought zone. Some investors believe this is a good time to dollar cost average (DCA) Bitcoin Cash price has moved into a bear market as investors start taking profits after the […] The post Bitcoin Cash price moved to a bear market: Buy the dip? appeared first on CoinJournal.

2023-7-6 19:08


Bitcoin dominance surging amid changing market dynamics and regulatory crackdown

Key Takeaways Bitcoin dominance measures the ratio of the Bitcoin market cap to the cumulative cryptocurrency sector market cap It is currently at 58%, the highest mark since April 2021 Market dynamics are changing as institutions consider Bitcoin, while rest of crypto market still struggles amid tight monetary policy environment Regulatory clampdown has also declared […] The post Bitcoin dominance surging amid changing market dynamics and regulatory crackdown appeared first on CoinJournal.

2023-7-1 17:37