8 Green Candles: Here’s What Happened The Last Time In Bitcoin

8 Green Candles: Here’s What Happened The Last Time In Bitcoin
фото показано с : newsbtc.com

2021-7-30 20:00

Bitcoin has now had 7 consecutive daily green candle closes this month. There have been a couple of 7 consecutive daily candle closes. But so far there has been no eight. The last time there were 8 consecutive daily candle closes, bitcoin price saw a price run-up that saw the price moving out of the $20,000 price range into the $30,000.

BTC price movements after 8 consecutive daily candlesticks | Source: Twitter

The chart above outlines the movement of the market the last time this happened. The run-up had started last year in 2020 and continued into 2021 before tapering off in January. Showing a very The market continues to watch to see what happens if bitcoin does hit those 8 consecutive candle closes.

Bitcoin Price Movements

This week continues to show interesting price movements in the digital asset. The close of the weekend ushered in a bullish run for bitcoin that saw the coin price adding over $5,000 to its price in the span of a day.

Related Reading | Bitcoin To Reach New All-Time Highs, Market Strategist

Bitcoin had lost momentum following this run, losing over 3% to drop down from its $39,000 position, back into the $37,000 territory. But has since picked that momentum back up, now trading at over $40,000 at the time of this writing. This is the first time that the asset has gone above $40,000 in the past month. Following a month-long struggle to recover from the continuous dips that have been experienced in the market.

Right now, bitcoin movements continue to show bullish indicators, as bulls continue to maintain a hold on the price. Over the course of this week, the digital asset has added over $100 billion to its market cap, bringing its total to over $750 billion.

BTC market cap adds over $100 in three days | Source: Market Cap BTC on TradingView.com

The movements have been attributed to circulating rumors of Amazon’s crypto integration. But according to Fast Money’s Brian Kelly, this was mostly due to a combination of factors. And not just one rumor circulating around the e-commerce giant.

Massive amounts of short squeezes during the weekend, a time when the market is usually less liquid than usual, saw the price of the asset shoot up. And short positions over $1 billion were liquidated in the span of a day.

Where Does Bitcoin Go From Here?

With the current movements, bitcoin closing green for the past week, it continues to indicate that another bullish rally might be imminent. The market was thought to have already arrived in a bear market. But the current price surges might tell a different story.

This would most likely mean that the bull market was not over as was thought before. Because if bitcoin sees 8 consecutive green closes and history is anything to go by, then the digital asset might be on track to a rally that sees the market hitting new all-time highs. Bitcoin could be poised to break its $64K record following another bull run.

Related Reading | Over $800 Million Bitcoin Shorts Liquidated As Price Surges 12% In 24 Hours

Individual and institutional investors alike continue to stay bullish on the digital asset. Investors who have never been involved in cryptocurrencies are showing more interest. A Gallup poll showed that the number of investors who were holding bitcoin had now tripled since 2018. And in that time frame, the number of investors who were interested in digital assets has now gone up.

Featured image from Bitsgap, charts from Twitter and TradingView.com

Similar to Notcoin - Blum - Airdrops In 2024

origin »

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 467.1 (+0.48%)
Объем 24H $0
Изменеия 24h: 0.85 %, 7d: 17.53 %
Cегодня L: $453.49 - H: $467.1
Капитализация $0 Rank 3676
Доступно / Всего 0 LINKETHPA

price candle daily closes bitcoin consecutive green

price candle → Результатов: 126


Фото:

Polkadot crashes to $13 as the crypto market retraces: What’s next for DOT?

Polkadot recorded a day of massive gains that brought its price above $30. However, the recent market downturn brought a massive red candle for DOT. What should you expect next, and should you buy some DOT now? Fundamental analysis: Rococo upgrade brings more positive sentiment to Polkadot Polkadot has experienced a major week-over-week price increase, […] The post Polkadot crashes to $13 as the crypto market retraces: What’s next for DOT? appeared first on Invezz.

2021-2-23 22:02


Фото:

Cosmos creates new all-time high: What’s next for ATOM

Cosmos (ATOM) had a day full of volatility, with the daily candle going from just above $14 all the way to $24.5, and then back to $22.7. What’s the reason behind this price fluctuation, and should you buy some ATOM now? Fundamental analysis: strong fundamentals led Cosmos to substantial month-over-month gains Cosmos’ origins can be […] The post Cosmos creates new all-time high: What’s next for ATOM appeared first on Invezz.

2021-2-16 22:18


Фото:

Ethereum Could Form a Massively Bullish Pattern if Bulls Defend Key Level

Ethereum saw an incredibly intense decline yesterday that sent its price plunging to fresh multi-week lows This selloff came about in tandem with the flash crash seen by the entire altcoin market, which may have come about due to XRP’s 50%+ one-day decline Other major altcoins – like Chainlink – posted massive losses that resulted in deep downwards wicks on their candle charts, likely due to on-chain short liquidations ETH is now in the process […]

2020-12-27 01:00


Sell Setup Combo On Bitcoin Coincides With Ominous Astrological Event

Bitcoin price has fallen more than $400 from yesterday’s peak. The drop happened abruptly as the daily candle closed and turned to October 13th’s trading session. The collapse also coincides with two sell setups triggering, and the start of an ominous astrological event that historically has created turmoil for both people in general, and also […]

2020-10-13 20:00


Bitcoin Likely to Reach $12,000 Following Robust Weekly Close, Claims Trader

Bitcoin’s price has been sliding lower throughout the past few hours due to its stalling momentum This decline is occurring directly following an incredibly bullish weekly candle close posted by the cryptocurrency Analysts believe that this close will provide it with some serious strength going forward, potentially putting a firm end to its recent downtrend It is important to note that there is a CME gap that exists around $11,100, which may act as a […]

2020-10-13 21:00


Фото:

Bitcoin’s Push to $11,000 Comes Following Intense Accumulation from Whales

Bitcoin is currently in the process of pushing towards $11,000, although it is facing some slight selling pressure at this level The cryptocurrency now appears to be positioned to rally higher in the near-term, as it was able to post an incredibly bullish weekly candle close yesterday Within one minute of this candle closing, BTC’s price rocketed by hundreds of dollars One interesting trend that appears to be backing this move is a pattern of […]

2020-9-29 02:00


Фото:

Here’s the Key Level Bitcoin Needs to Close Above to Kick Off an Uptrend

Bitcoin’s price action has been choppy over the past couple of weeks, with bulls and bears reaching an impasse as it consolidates between $10,200 and $11,200 These two levels have proven to be strong support and resistance, and which one is broken first could offer some significant insights into its near-term outlook As for where it may trend in the near-term, one trader is noting that it all depends on its upcoming weekly candle close […]

2020-9-27 02:00


Фото:

Ethereum Weakens as Analysts Eye Possibility of Major Downside

Ethereum is showing some signs of weakness as its price trades below $380 Breaking above this level was a significant technical development that caused many analysts and traders to flip bullish on the crypto As its weekly candle close fast approaches, however, bears seem to be regaining control over its near-term outlook There’s a high probability that this will cause it to see further near-term downside, potentially striking a blow to its macro market structure […]

2020-9-21 22:00


Investor Greed Signals Bitcoin May Be Topping Despite Strong Monthly Close

Bitcoin was able to post an incredibly strong monthly candle close yesterday This marked the first time that the crypto had closed its monthly candle above $10,700 since mid-December of 2017 Shortly after the close took place, bulls stepped up and allowed BTC to set fresh 2020 highs of $11,800 It did face some heavy selling pressure at these highs that caused its price to see a sharp decline, but it has since stabilized Analysts […]

2020-8-1 19:00