If History Rhymes, This Indicator Suggests Bitcoin May See a Parabolic Explosion

If History Rhymes, This Indicator Suggests Bitcoin May See a Parabolic Explosion
фото показано с : bitcoinist.com

2020-12-30 21:00

Bitcoin has seen some mixed price action as of late, with bulls being unable to take control of its trend in the time following its rally up to $28,500 The rejection here was quite intense, and it has yet to show any signs of strength in the time following this occurrence The fact that bulls have guarded against any deeper drawback is positive because it invalidates the possibility that this recent high is a blow-off top One trader is now noting that there is an incredibly bullish indicator that is flashing for Bitcoin He points to the cryptocurrency’s monthly RSI, noting that a monthly close above a specific level that it is nearing is historically followed by parabolic moves higher In the past, these movements have had an average return of 1,010%, but their size and length seem to diminish with time

Bitcoin and the entire crypto market have declined over the past 12 hours, which appears to be the direct result of the pressure that XRP is placing on the market due to its latest selloff.

Where the market trends in the mid-term likely won’t depend on XRP, which means that this latest round of selling pressure may mark a knee-jerk reaction from investors.

One analyst is noting that Bitcoin’s monthly RSI is flashing an incredibly bullish sign for where BTC trends next.

Bitcoin Struggles to Gain Momentum Following $28,500 Rejection

At the time of writing, Bitcoin is trading down just over 1% at its current price of $26,700.

The crypto has been trading between the upper-$26,000 region and the lower-$27,000 region throughout the past few days.

It has yet to garner enough buy-side support to break above the heavy resistance laced throughout the lower-$28,000 region. For now, this peak could mark a blow-off top.

Indicator Suggests BTC is About to Go Parabolic

One trader explained in a recent tweet that Bitcoin could be on the cusp of seeing a parabolic move higher in the days and weeks ahead.

He points to the cryptocurrency’s monthly RSI as an indicator for this possibility.

“BTC – Monthly RSI. Monthly candle is about to close above 80. When this happens, bullish trend continues, with an avg. return of 1010.87%. Each cycle is shorter.”

Image Courtesy of il Capo of Crypto. Source: BTCUSD on TradingView.

The coming few days should shed light on Bitcoin’s trend, as continued weakness could confirm $28,500 as a local high and lead to a deeper retrace.

Featured image from Unsplash. Charts from TradingView.

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

BullshitCoin (BULLS) 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 BULLS

bulls any time following bitcoin occurrence fact

Источник: bitcoinist.com

bulls any → Результатов: 126


Фото:

Chainlink Posts “First Death Cross” Seen Since 2018 Against Bitcoin Pair

Chainlink has seen some mixed price action as of late, with bulls unable to gain a decisive edge over bears as the entire market turns lower. LINK isn’t the only cryptocurrency that has been struggling to gain any bull-favoring momentum, as most other cryptocurrencies have also seen some intense selling pressure that has slowed their […]

2020-12-12 02:00


Bitcoin Bulls Defend $17,700, But BTC Still Faces Dangerously Strong Resistance

Bitcoin has faced some intense selling pressure over the past few days, with the response to its recent break below $19,000 being quite bearish This validates the notion that this is a crucial level that the crypto much firmly surmount and flip into support if it is to see any further upside One trader is now noting that, while BTC did rebound off of its key support in the upper-$17,000 region, it still faces multiple […]

2020-12-10 21:00


Фото:

Bitcoin May Need “Life Support” as Bulls Try to Defend Key Support

Bitcoin’s price action has been rather lackluster as of late, with sellers forcing the crypto back below $19,000 as it struggles to gain any clear momentum in either direction. This price action has been surprising considering the macro strength incurred due to the recent multi-week uptrend, but it does seem as though serious upside could […]

2020-12-9 20:30


Here are the Crucial Levels to Watch as Bitcoin Climbs Back Above $19,000

Bitcoin is once again trading above $19,000, as this has been a crucial level for the cryptocurrency that bulls have ardently been trying to flip into support It remains unclear as to whether or not it is going to be able to establish any meaningful support at this level The selling pressure here has proven to be significant in the past, and may continue hampering its growth Where the market trends next will still likely […]

2020-12-5 19:33


Фото:

Bitcoin Continues Plowing Higher as Uptrend Shows Few Signs of Slowing

Bitcoin has been pushing higher throughout the past few days and weeks, with sellers being wholly unable to gain any ground against bulls This comes as BTC pushes past $19,000, which has long been a strong resistance level that has sparked multiple fleeting selloffs Now that it is firmly above this level, it may be well-positioned to see significantly further upwards momentum in the near-term One analyst is noting that its failure to break below […]

2020-11-25 02:00


Фото:

Bitcoin Sees “Longest and Most Stable” Rally Ever as Bulls Clock 73% in 73 days

Bitcoin and the aggregated crypto market are pushing higher today, with BTC breaking above $17,000 while Ethereum helps lead altcoins higher as well The benchmark cryptocurrency hasn’t seen much selling pressure at this level, despite it long being viewed as resistance It has struggled to break above this level a few times, but the selling pressure here has not catalyzed any sharp selloff Where it trends next will depend largely on whether or not it […]

2020-11-18 21:00


Bitcoin is Poised to Rally Towards $17,000 Next as Outlook Grows Bright

Bitcoin has seen a quiet weekend of trading, with the cryptocurrency struggling to gain any immense momentum as bulls and bears reach an impasse This has led to a prolonged bout of sideways trading around $16,000, with bulls and bears both struggling to gain control of its near-term Its recent price action has done little to provide any insights into where it might trend over a mid-term time frame That being said, one analyst is […]

2020-11-16 19:39


Фото:

Analyst: Bitcoin Likely to Plunge Towards $12,000 as Top Signs Emerge

Bitcoin has seen a slight retrace this morning, with bulls being unable to break above the immense selling pressure that exists around $16,000 Today’s move lower has been somewhat slow and has yet to force the crypto below any crucial level One trader is now offering a somewhat grim outlook on the cryptocurrency, noting that he is expecting it to see one more impulse higher before topping and posting massive losses He is particularly looking […]

2020-11-7 19:08


Фото:

Analysts Expect Ethereum to Surge to $445 as Buy-Side Demand Builds

Ethereum is moving higher today in tandem with Bitcoin after bearing witness to some intense selling pressure yesterday The cryptocurrency has primarily been consolidating as of late, with bulls and bears being unable to spark any clear trend This has caused ETH to see severe underperformance of Bitcoin, with the benchmark cryptocurrency far outpacing it as of late Where Ethereum trends in the near-term may depend largely on where the aggregated market moves as election […]

2020-11-4 23:00


Фото:

Indicator Shows Bitcoin is “Overbought” as Average Investor Profit Hits 115%

Bitcoin may be forming a mid-term top around its recent highs, with the multiple rejections posted at $13,800 not bearing too well for its short-term outlook The cryptocurrency remains caught within a potent uptrend, but this level is proving to be incredibly difficult for bulls to break If they continue failing to find any stability around this level despite the bullish monthly candle close, it could point to weakness amongst buyers One analytics firm is […]

2020-11-3 02:00


Фото:

This Indicator Shows Bitcoin Could Reel to $12,500 Before Rallying Higher

Bitcoin has simply been ranging throughout the past few days, with bulls building a strong base of support within the lower-$13,000 region as bears struggle to gain any momentum This support could help catapult it higher in the near-term, but the slight rejection seen at $13,600 yesterday does indicate that downside could be imminent There is one technical indicator that suggests some downside could be right around the corner One analyst spoke about this in […]

2020-10-31 02:00


Фото:

Analyst: Altcoin Downside Extremely Limited as Bitcoin Remains Stable

Bitcoin has been stable in the time following its $13,800 rejection, with bulls gaining some momentum as the cryptocurrency flashes continued signs of strength Although it is not showing any overt signs of weakness at the moment, altcoins have been capitulating throughout the past few days and weeks, with many posting immense losses Analysts are now noting that altcoins may be in the process of forming mid-term bottoms One trader is noting that downside on […]

2020-10-31 21:00


Фото:

Large Bitcoin Holders Just Moved 80,000 BTC; Analysts Grow Cautious

Bitcoin is in the process of testing its 2020 highs again as bulls attempt to take the reins and guide it to see further upside It has been struggling to gain any serious near-term momentum due to the selling pressure at $13,200, but once broken, it could rally towards $14,000 Despite its overt bullishness at the present moment, there are a few bearish signs that may indicate that a selloff is brewing One analyst is […]

2020-10-25 01:00


Фото:

This Technical Indicator Suggests Bitcoin Has Formed a Local Top

Bitcoin’s price is seeing a slight consolidation phase as it trades around $13,000 The selling pressure around $13,200 has proven to be significant but bears inability to spark any significant retrace points to some weakness amongst sellers If bulls can provide BTC with a strong foothold within this price region, there’s a strong chance that serious upside is imminent One analyst explained in a recent tweet, however, that a technical indicator is suggesting that the […]

2020-10-24 02:00


Bitcoin Creates Strong Tailwind as Traders Rotate Capital into Altcoins

Bitcoin’s price has begun consolidating following its immense surge seen throughout the past 48 hours Yesterday afternoon, it rallied as high as $13,200 before it found any strong resistance that forced it lower Unlike the trend seen during fleeting upsurges, Bitcoin did not retrace that far into its recent rally following the rejection at these highs This indicates that bulls are in control of the asset at the moment and may indicate that further upside […]

2020-10-23 02:00


Фото:

Bitcoin Shatters Key Resistance as Bulls Attempt to Take Out “Pivotal Level”

Bitcoin saw a strong upsurge this morning that allowed it to break above its $11,600 resistance level This resistance has been suppressing its price action throughout the past few days and weeks, with bulls being unable to spark any sustainable moves above it Where it trends next will likely depend on how sustainable this ongoing move higher is, and whether or not it can lead it to a key resistance One trader is now watching […]

2020-10-20 02:00


Фото:

Analyst: Bitcoin Would Rocket to $20k if It Were to Breakout Today

Bitcoin’s price has been struggling to gain any serious momentum over the past few days This has come about due to the stock market’s sideways trading, which is still holding heavy influence over that of BTC The cryptocurrency is facing some heightened selling pressure due to bearish developments within the market, but bulls have been absorbing the heavy influx of sell orders Where the entire market trends next may depend largely on Bitcoin One analyst […]

2020-10-18 01:00


Bitcoin’s Market Structure Indicates a Massive Move Higher is on the Horizon

Bitcoin and the entire crypto market are once again consolidating following the latest push higher, with bulls being unable to firmly push BTC over any key levels The cryptocurrency is incurring mounting technical strength, however, which comes as it stabilizes around $11,500 Where the market trends next will likely depend on the cryptocurrency’s continued reaction to its $11,600 resistance If broken above, this level may ignite a massive BTC rally that sends it past $12,000 […]

2020-10-13 21:00


Ethereum May Crash to $300 Support as Selling Pressure Grows Heavy

Ethereum is currently oscillating between highs of $345 and lows of $336 as its bulls and bears reach an impasse The cryptocurrency has been unable to see any relief following the massive influx of selling pressure that stopped it from seeing any further gains It is still trading well above its multi-week lows of $320, but growing weakness is putting its current stability in jeopardy One analyst explained in a recent tweet that he expects […]

2020-9-23 23:00


Фото:

Bulls are in Control of Bitcoin as Long as It Defends One Crucial Level

Bitcoin has witnessed some intense selling pressure throughout the past day, but bulls have been able to absorb the vast majority of it This selling pressure ultimately sent the cryptocurrency down to daily lows of just below $10,800, at which point buyers stepped up and guarded against it seeing any further downside One analyst is now noting that where it trends in the near-term may depend almost entirely on whether or not bulls can maintain […]

2020-9-21 19:00


Фото:

Ethereum Could See Major Weakness if Bulls are Unable to Defend Key Level

Ethereum has seen some immense strength over the past few days, with bulls pushing it as high as $395 before it faced some intense selling pressure that slowed its ascent The cryptocurrency has been unable to garner any significant buying pressure above $390, likely due to Bitcoin’s position beneath its $11,000 resistance Once the benchmark cryptocurrency breaks through, it may create a tailwind that lifts ETH higher The recent launch of Uniswap’s UNI token seems to […]

2020-9-19 23:00


Bitcoin is Gearing Up for a Major Push Lower as Analysts Eye $9,600

Bitcoin’s inability to break above $10,500 speaks to some underlying weakness amongst the cryptocurrency’s bulls It also shows that the bears still have the edge over the benchmark crypto’s price action, which could mean that a break below its key support between $9,900 and $10,000 is imminent BTC is currently caught within a consolidation phase, being unable to find any strong momentum following the recent rejection Analysts are growing bearish on its near-term outlook, with […]

2020-9-12 02:00


Фото:

Ethereum’s Market Structure Weakens as Bulls Fail to Break Key Resistance

Ethereum’s overnight price action has done little to offer insight into its near-term trend, as the cryptocurrency has been unable to maintain its recent momentum This, however, has not resulted in it seeing any type of sharp decline, with its rejection at $380 kicking off a consolidation phase Analysts believe that where the cryptocurrency trends next depends wholly on its reaction to one vital resistance level that has been suppressing its price action This resistance […]

2020-9-12 23:00


Фото:

Bitcoin May Post Its 2nd Highest Two-Month Close in History as Bulls Take Control

Bitcoin has been able to avoid seeing any type of intense bearishness today, as the cryptocurrency is now trading near $11,800 Although it has yet to test its key $12,000 resistance, it does appear that buyers are laying the groundwork for a visit to this level One trader is observing that some technical factors are now working heavily in Bitcoin’s favor, including degrading resistance between its current price and $13,000 This comes as Bitcoin rapidly […]

2020-8-31 21:00


Фото:

Bitcoin’s Critical Support is Degrading, and It’s Bad for Altcoins

Bitcoin is currently struggling to garner any notable upwards momentum as its price drifts towards its key support at $11,000 Sellers have been in firm control of its trend throughout the past several days and weeks Where it trends in the near-term will likely depend almost entirely on whether or not bulls can continue defending against a decline below $11,000 One analyst is noting that a key technical support level that was bolstering BTC is […]

2020-8-28 21:00


Фото:

Analyst: Bitcoin Likely to Tap $10,000 Unless Bulls Spark Strong Movement

Bitcoin has been oscillating between the lower and mid-$11,000 region throughout the past few days This rocky price action comes close on the heels of the harsh rejection at $12,000 that it posted this past weekend The cryptocurrency will likely continue struggling to garner any momentum as long as hovers below the upper-$11,000 region, which is where it faces some resistance Analysts do believe that some near-term downside could be imminent in the days and […]

2020-8-13 21:00


Here’s Why One Analyst Expects Ethereum to Tap $275 Before Pushing Any Higher

Ethereum has been struggling to break above $400 for the past several days The selling pressure here is quite significant, and a sustained break above this level would be a highly bullish technical development Because ETH has been consolidating just below it throughout the past few days, bulls may be gearing up for a major push higher Despite being technically strong, one analyst is still expecting the cryptocurrency to see another “scam wick” that leads […]

2020-8-7 23:00


Фото:

This Indicator Shows Bitcoin Hit a Pivotal Level; Why Bulls Are in Control

Bitcoin has extended its newfound consolidation phase as it trades around $9,200 Both its bulls and bears have reached an impasse, with neither group being able to catalyze any clear momentum It now appears that BTC is positioned to see further sideways trading in the near-term, but one indicator is showing that the tides are shifting into bulls’ favor This comes as the crypto’s “Unspent Bitcoin Map” signals that there is massive support hovering just […]

2020-7-12 19:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru