Bitcoin (BTC) Target Fresh Monthly High or Even $8K

Bitcoin price is showing positive signs above the $7,400 resistance area against the US Dollar. The price is likely to clear the $7,560 and $7,600 resistances to continue higher. There is a major bullish trend line forming with support near $7,490 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rally once there is a successful close above $7,600 and $7,700 in the coming days. Bitcoin price is trading in a positive zone above $7,400 against the US Dollar. BTC is likely to test…

Bitcoin Weekly Forecast: BTC Won’t Go Quietly, Risk of Bounce Grows

After forming a base above $7,000, bitcoin price climbed above the $7,500 resistance against the US Dollar. The price is currently correcting gains and it is trading below the $7,440 level. There is a major contracting triangle forming with resistance near $7,520 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The price is likely to stay above the $7,220 support and it could rally above the $7,500 resistance. Bitcoin price is trading above a couple of important supports against the US Dollar. BTC is likely to…

Death Spirals and BTC — What Happens When Miners Capitulate?

The stagnation of the cryptocurrency market has put Bitcoin’s (BTC) price at risk of further decline, as it struggles to recover beyond key resistance levels. A descending price increases the probability of the so-called “miner capitulation” occuring, which is said to have triggered the major BTC drop in December 2018. Late last year, the Bitcoin price fell to around $6,000 following three months of stability in a tight range between $6,000 and $6,500. The subsequent drop to the $3,000s happened within the span of just one month. Why miner capitulation…

6 Altcoins That Are Currently Making Me Avoid BTC

Since publishing the last trading journal two weeks ago, I have made a number of altcoin trades but not a single Bitcoin (BTC) trade other than closing my long from $6,900 in segments between $7,550 and $7,700. Currently, I am trading Matic Network (MATIC), WePower (WPR), Zilliqa (ZIL), Verge (XVG), Fantom (FTM) and ChainLink (LINK). In the last journal, I detailed a 2% positional loss on my REN trade which had an entry at .00000603 Satoshis (sats) and closed at .00000590 (sats). I made a 14% gain trading DOCK, 32%…

Bitcoin Briefly Breaks Above $7,500 After SEC Approves BTC Fund

Friday, Dec. 6 — crypto markets have continued to rebound after a sharp sell-off on Dec. 4, with Bitcoin (BTC) briefly reclaiming $7,500. The bullish momentum is observed across all the top 20 cryptocurrencies by market capitalization, with just Bitcoin Cash (BCH), Litecoin (LTC) and Unus Sed Leo (LEO) seeing some losses at the time of writing. Meanwhile, Chainlink (LINK) and Cosmos (ATOM) are reporting the biggest gains among the top 20 over the past 24 hours, both up around 4%, according to Coin360. Market visualization. Source: Coin360 After trading…

US SEC Approves BTC Futures Fund to Offer Shares to Institutional Investors

Bitcoin (BTC) futures-focused NYDIG Bitcoin Strategy Fund has procured approval from the United States Securities and Exchange Commission (SEC), entitling it with the right to offer its shares to institutional investors. According to an SEC filing that came into effect on Dec. 2, the New York Digital Investment Group LLC (NYDIG) is now authorized to offer its shares to institutional investors, including registered investment advisers, their clients, and other eligible investors. For those who intend to invest in the shares, the fund does not put forward a minimum investment requirement.…

Bitcoin (BTC) Trading Near Make-or-Break Levels

Bitcoin price is still trading above the $7,200 and $7,240 support levels against the US Dollar. The price is struggling to climb above the $7,440 and $7,500 resistance levels. There is a major breakout pattern forming with resistance near $7,440 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could either rally above the $7,500 resistance or it might dive back towards $7,000. Bitcoin price is likely setting up for the next key break against the US Dollar. BTC must stay above $7,240 to start…

Bitcoin (BTC) Could Rise Again Before Fresh Monthly Low

Bitcoin price is back to where it started and trading below the $7,380 resistance against the US Dollar. The price is currently under pressure, but it is likely to hold the $7,100 support area. There is a short term contracting triangle forming with resistance near $7,220 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rise again towards the $7,380 and $7,400 resistance levels, where sellers might emerge. Bitcoin price is back in a bearish zone below $7,400 against the US Dollar. BTC is…