This “Hidden” Signal Could Ignite a Bitcoin Breakout to $10.5k: Analyst

Even after a healthy rally from $9,000 to a local high of $9,400, Bitcoin remains in no man’s land. The cryptocurrency is caught below $9,500 and caught above $8,500, both important levels on a medium-term time frame. Bitcoin may seem directionless as a result, as it is still anyone’s guess as to which way this range will break. An analyst has observed, however, that there’s a growing likelihood Bitcoin will break to the upside. He primarily cites an indicator suggesting bears are losing their grip on the market. Related Reading:…

Ethereum Correcting Gains But Here’s Why $230 Could Trigger Another Rally

Ethereum rallied recently above the $235 resistance region against the US Dollar. ETH is currently correcting gains, but the $230 support might act as a strong buy zone. Ethereum is trading in a positive zone above the $230 and $232 levels. The price rallied above the $240 level and it is currently correcting gains from $244. There was a break below a connecting bullish trend line with support near $240 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to find a strong buying interest…

Bitcoin Just Saw A Key Technical Breakout: Big Reaction From Bulls Likely

Bitcoin started a steady increase and broke the $9,300 resistance against the US Dollar. BTC is currently up close to 3% and it might continue to rise towards the $9,500 resistance. Bitcoin is gaining momentum and it recently broke the $9,300 resistance zone. The price traded to a new weekly high at $9,372 and settled above the 100 hourly simple moving average. There is a short-term ascending channel forming with support near $9,290 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair remains supported on…

Bitcoin’s “Intrinsic Value” Nears $13k — Here’s Why That’s Big for Bulls

Bitcoin has performed extremely well since March’s lows, rallying over 150% from the $3,700 capitulation bottom. Even after a strong $1,200 retracement from the $10,500 highs, BTC is still one of the best-performing assets of 2020. Yet a crucial indicator suggests that Bitcoin is still intrinsically undervalued, boding well for the bull case. Related Reading: Crypto Tidbits: Bitcoin Stalls at $9k, Cardano Shelley, Elon Musk & Ethereum A Crucial Bitcoin Indicator Suggests Bitcoin Is Seriously Undervalued Many analysts, especially those on Wall Street, find it hard to value Bitcoin. The…

Bitcoin is on the Cusp of Printing a MACD Bull Cross as Stock Market Rallies

Bitcoin was able to post a bullish reaction to its recent dip below $9,000, with its buyers sparking a rally that sent it as high as $9,300. Although this rally has not confirmed any type of notable technical breakout, it has helped shift some of the benchmark cryptocurrency’s technical indicators into the favor of bulls. One analyst is now noting that the crypto is flirting with posting a MACD bull cross. This technical pattern – if confirmed during the imminent daily close – would be a significant development for bulls,…

There’s a Key $12 Million Buy Wall Boosting Bitcoin’s Immediate Outlook

After attempting to break below $9,000 on Sunday, Bitcoin has mounted somewhat of a comeback. As of the time of this article’s writing, the cryptocurrency trades at $9,350. This is the highest BTC has traded in over a week. BTC price chart from TradingView.com While some doubt it can make it past the imminent $9,500 resistance, buyers are stepping in en-masse to support price action. This supports the chances that BTC rallies higher in the days ahead. Related Reading: Crypto Tidbits: Bitcoin Stalls at $9k, Cardano Shelley, Elon Musk &…

Ethereum‘s “Monthly Pivot” Could Signal That a Major Rally is Brewing

Ethereum has flashed some significant signs of strength after posting an intense recovery yesterday. The cryptocurrency is now back within the boundaries of its multi-month trading range, and buyers appear to be attempting to establish its recent lows as a long-term bottom. Overnight, sellers pushed it as low as $222 – just a hair above its crucial high time frame support at $220. The dip to this level catalyzed a significant amount of buying pressure, which was further perpetuated by Bitcoin’s surge from $8,900 to highs of $9,300. ETH is…

Here’s Why the Chinese Stock Market’s Rally Might Boost Bitcoin

The Chinese stock market has found itself caught within the throes of a fresh bull market, and it could create a tailwind that lifts Bitcoin. After facing the dire implications of the ongoing pandemic that originated within China’s borders, the country’s investors appear to be moving on, now helping to fuel a fresh bull market. The country’s benchmark stock indices all saw massive growth during their latest trading session, with the Shanghai Composite even seeing its best single-day percentage gain since 2015. A few simple factors are driving this fresh…

The Ethereum Network Activity Surged to Levels Unseen in 2 Years

The smart contracts giant kicked off the week on the right foot. Its price has surged over 4.60% since the weekly open to hit a high of $237.5. However, the Tom Demark (TD) Sequential indicator estimates that Ethereum could be bound for a small intraday correction before it continues rising towards the $239 resistance level.  Based on ETH’s 1-hour chart, the TD setup is currently presenting a sell signal in the form of a green nine candlestick. The bearish formation estimates a one to four 1-hour candlesticks correction. A red…

One Metric Suggests the Impending Bitcoin “Doom” May Not Arrive

Bitazu Capital founding partner Mohit Sorout pinpointed that the volume of Bitcoin (BTC) declined since May. While the price of the top cryptocurrency has dropped since, its volume suggests it is not entirely bearish. Due to the second rejection of Bitcoin at $10,500 this year, traders have suggested the possibility of a rounded top.   The price of Bitcoin shows a rounded top-like formation, but with declining volume. Source: Mohit Sorout The declining trend of the volume remains as a variable that might potentially prevent a steep downtrend. It could suggest…