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In recent market action, bitcoin core (BTC) has struggled to hold above $ 4,000 following four consecutive green weekly candles, while bitcoin cash (BCH) appears to be consolidating above $ 150 after comprising the best performing of the 10 largest crypto assets by market cap of the last seven days. In other news, ravencoin (RVN) and tezos (XTZ) are among the highest capitalized top gaining markets of the past week.
Also Read: 8 Useful Browser Extensions for Cryptocurrency Users
Shortly after falling from its test of the low $ 4,000s, bitcoin managed to find support in the mid $ 3,500s. This has proven to be a relevant level over the last few months, and finding support here would be a sign of relatively strong demand:
Figure 1: BTC-USD, Daily Candles, Local Support
The high candle spread rejection following our test of the low $ 4,000s was an indication that we had strong levels of supply left in the market, but for the time being we are holding support. Looking into lower time frame charts, we see that we are currently riding on top of both the symmetrical triangle shown above and the prior trading range (TR) sitting just below us:
The price of Bitcoin (BTC) is now up 4% Saturday to $ 4,126, a new high for the year and the first time the largest digital asset has been above the $ 4,000 mark since early January. Earlier in the week, Bitcoin failed to break through $ 4,000 and has spent the last five days consolidating above $ 3,800. […]
SludgeFeed
Binance Coin (BNB), the token associated with the world’s leading crypto exchange, is currently up around 13% in the last day to $ 10.96, continuing the coin’s impressive run since bottoming in mid-December. Over the last 30 days, BNB has risen over 70% in the lead up to tomorrow’s Binance Chain DEX testnet release. Today’s push above $ 10.75 […]
SludgeFeed
The cryptocurrency market has ended the week on a strong note with Bitcoin (BTC) surging over 8% to $ 3,703, its largest one-day gain since December 28. The surge came shortly after Litecoin (LTC) rallied 12% in early Friday trading. Following Litecoin’s lead Bitcoin began moving higher before breaking out around 9:00 AM (EST). The rest […]
SludgeFeed
In the last 24 hours, the Bitcoin price has slightly recovered from $ 3,451 to $ 3,526 following the announcement of Fidelity to launch Bitcoin custody by the end of the first quarter. The valuation of the crypto market has increased by $ 2 billion overnight as Bitcoin (BTC), EOS (EOS), and Ethereum (ETH) rebounded in the range of one to three percent against the U.S. dollar. Why Bitcoin is Still Vulnerable While the recovery of Bitcoin prevented a further decline in price to the low $ 3,000 region, traders generally agree that the dominant cryptocurrency still remains vulnerable. DonAlt, a cryptocurrency technical analyst,
Since our last crypto market round-up report on Friday, the climate has changed significantly for at least one major cryptocurrency: Ethereum. All eyes are on Ether as it pushes closer and closer to the $ 100 mark. Bitcoin, meanwhile, briefly crossed the threshold of $ 3,400. By most accounts, the Bitcoin price is working on a test of the $ 3,000 mark, which is both a psychological and market indicator. Bitcoin Price Likely to Test $ 3,000 The Bitcoin price‘s 3-day chart looks a bit hellish if you’re a bull in this cold weather. Bitcoin has lost $ 200 over the past three days. Average users
By CCN.com: On January 22, in a steep a sell-off, the Bitcoin price dropped from $ 3,615 to $ 3,401 by around six percent on the day. Although a continuous fall below the $ 3,400 mark could have led to an extended sell-off throughout January, traders have said that the rebound of Bitcoin from a key support level … Continued
The post Traders: Bitcoin Price Recovery Above $ 3,400 May Lead to Strong Short-Term Rebound appeared first on CCN
Bitcoin Price — Quick Take: The bitcoin price dropped more than 8 percent on a 24-hour adjusted timeframe. The cryptocurrency is attempting a pullback from a historically strong support area above $ 3,550. Further breakdown action could lead to a double bottom scenario. The bitcoin price on Thursday plunged more than 8 percent across the Asian
The post Bitcoin Analysis: Bullish Correction Still Possible if Price Holds Above $ 3,550 appeared first on CCN
The cryptocurrency market moved higher Sunday after Bitcoin (BTC) jumped 6% to $ 4,100 — a price last seen on Christmas Eve. While the weekend rally wasn’t driven by any identifiable fundamental event, the charts of most major coins have been building toward a breakout for the last 2 weeks. Notably, both Litecoin (LTC) and NEO (NEO) […]
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In the past 24 hours, the crypto market added $ 3 billion to its valuation as Bitcoin (BTC) and Ethereum (ETH) performed relatively well against the U.S. dollar. Several crypto assets in the likes of Litecoin, TRON, and Cardano recorded the largest gains on the day in the range of 6 to 12 percent. Bitcoin Has
The post Crypto Market Records Decent Gains But Bitcoin Has to Rise Above $ 4,500 appeared first on CCN
The crypto market has quietly had a very good week with Bitcoin (BTC) regaining the $ 4,000 level in early trading Thursday and Ethereum reclaiming $ 100 two days earlier. Bitcoin is now up 24.4% from where it started on Monday (around $ 3,265), giving the largest cryptocurrency a market cap of $ 70.8 billion. Meanwhile, Ethereum has had an equally good week. […]
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Bitcoin on Tuesday showed some signs of bottoming out as it consolidated sideways a little above $ 3,500, its psychological support. The BTC/USD is now trading at 3734-fiat, up 1.58% from the previous day close. Meanwhile, the pair is trading inside a range that is no more than $ 230 wide. Though volatile, the choppy price action
The post Bitcoin Price Stabilizes above $ 3,500 as CME Futures Expiry Approach appeared first on CCN
After a rough Saturday where the price of Bitcoin (BTC) plummeted to a new 52-week low around $ 3,625, the crypto market began to show signs of life going Sunday, with Bitcoin reclaiming the $ 4,000 level for several hours. However, the short-lived rally, which saw some altcoins recover more than 30%, has quickly lost steam after BTC failed […]
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Bitcoin on Wednesday challenged new highs as price against the US Dollar surged 1.42 percent within a few hours. The BTC/USD pair built upon the near-term bullish scenario after breaking above the interim resistance explained in our previous analysis. A breakout action above 6421-fiat started attracting long positions towards 6500-fiat as the primary upside target.
The post Bitcoin Analysis: Price Above $ 6500 Resistance post US Midterm Elections appeared first on CCN
Bitcoin (BTC) bulls may not seem aggressive but they are definitely more determined than the bears. Most bulls are confident in Bitcoin (BTC)’s long term growth as long as the price remains above the 1000 Day EMA. As the BTC/USD daily chart shows, the price is currently well above the 1000 Day EMA and is not likely to fall below it under the bullish case. Before the month of September, if the price would fall to the 1000 Day EMA, it would coincide with the long term trend line. However, this time, if the price falls back to the 1000 Day EMA, it would have to fall below the trend line. It is pertinent to note that a fall below the trend line and a fall below the 1000 Day EMA do not mean the same thing.
Bitcoin (BTC) Cash as been trading in a strong descending channel since the beginning of the correction. After touching the top of this channel in late April, BCH/USD was expected to touch the bottom of this descending channel in the months ahead. However, the price settled atop a strong support around September. This support lies around $ 412 and has not been breached yet. The price of BCH/USD has touched this support three times since the beginning of September. Technical indicators point to the beginning of a new rally from current levels. However, Bitcoin Cash (BCH) will face a strong resistance first around $ 462 and later around $ 526. The resistance around $ 526 is particularly strong and may give touch time to the bulls in the near future.
Chart for XMR/USD (1W)
Monero (XMR) currently trades around $ 107 and is probably one of the safest bets in the market right now. The price has been following a three driver’s pattern, trading in a diverging bullish channel. It has currently reached the bottom of the channel and will likely return with bullish momentum for the long haul that could drive its price all the way to $ 500 or higher before the end of the year. Apart from the technicals, its fundamentals look great as well. Monero (XMR) transactions are currently cheaper than that of both Bitcoin (BTC) and Litecoin (LTC).
Bitcoin is again restricted in a narrowing price range, but technical studies indicate scope for a bullish breakout.
CoinDesk
Ethereum Classic (ETC) is highly likely to trade north of $ 100 by end of the year. This does not require a very bullish Bitcoin (BTC). In fact, if Bitcoin (BTC) trades around $ 10,000, that would do the job for Ethereum Classic (ETC). Considering that we still have approximately eighty days till the end of the year, Bitcoin (BTC) might easily reach that level. These are very conservative targets for both Ethereum Classic (ETC) and Bitcoin (BTC). If we see an influx of new capital in the cryptocurrency markets as expected, the situation could be a lot different. If Bitcoin (BTC) reaches a price of $ 25,000 by end of the year as predicted by Tom Lee of Fundstrat, Ethereum Classic (ETC) could reach a price of $ 500.
