New Analysis Shows Bitcoin Is Structurally Similar to 2018’s $3k Bottom

After pushing as high as $9,300, Bitcoin bulls faced yet another strong sell-off on Thursday. The cryptocurrency slid from that local high to a low of ~$8,930 in a number of hours in a move that liquidated dozens of millions. Despite this drop, there remain multiple valid analyses indicating that Bitcoin is about to press higher. Related Reading: Crypto Tidbits: Bitcoin At $9k, Grayscale Ethereum Trust, Cryptocurrency & PayPal Bitcoin’s Current Range Is Similar to 2018’s Bottom Looking at Bitcoin’s recent price action, it’s easy to call it “boring.” Save…

Top Fund’s Halving Analysis: Bitcoin Could Rise to $115,000 by Aug. 2021

Bitcoin is far from a full-blown bull market. Every attempt at rally upward has been smacked down by bears. The latest of which was the rally to $9,800 on Monday, which was followed by an $800 rejection and millions in liquidations. Yet a top cryptocurrency fund is still holding a bull bias. The company’s executives wrote in the report that they have a model suggesting Bitcoin could hit $100,000+ in 2021. Related Reading: DeFi Effect: Scaling Debate Begins as Ethereum Fees Reach Two-Year Highs Bitcoin Could Rally Over $100,000 In…

There’s a 77% Chance Bitcoin Rallies Out of Its Range: Historical Analysis

The biggest question on the minds of Bitcoin investors is if the range the cryptocurrency has been stuck in will break to the upside or downside. For almost two months now, the leading cryptocurrency has traded within a tight $1,000-2,000 range below the crucial $10,500 resistance. The chart below illustrates this well: it shows that every attempt at breaking above or below the range is rejected, resulting in BTC converging on one price region. The price action has been so “boring” that analysts have observed that volatility indicators are tightening…