Bitcoin Back Below $8K — But Is the Macro Bullish Trend Broken?

Bitcoin (BTC) price has continued its multiple-day slide, dropping 5.3% over the past two days and 9.6% from it’s $8,800 high 5 days ago. While Bitcoin bears are celebrating, the price remains range-bound, as can be seen clearly on the daily chart. Bitcoin price has been trading in this range since September 25th, the day after the large drop from $10,000.  Bulls will be looking for a break above the range to signal likely price appreciation, while the bears have their eyes on the bottom for a breakdown and further…

Bitcoin Back Below $8K — Is the Macro Bullish Trend Finally Broken?

Bitcoin (BTC) price has continued its multiple-day slide, dropping 5.3% over the past two days and 9.6% from it’s $8,800 high 5 days ago. While Bitcoin bears are celebrating, the price remains range-bound, as can be seen clearly on the daily chart. Bitcoin price has been trading in this range since September 25th, the day after the large drop from $10,000.  Bulls will be looking for a break above the range to signal likely price appreciation, while the bears have their eyes on the bottom for a breakdown and further…

Ethereum (ETH) Signaling Bullish Continuation, Bitcoin Holding Support

Ethereum price is trading nicely above the $188 and $185 support levels against the US Dollar. Bitcoin price is showing positive signs and it is trading above the $8,400 support area. There is a major bullish trend line forming with support near $188 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue higher and it could break the $195 and $198 resistance levels. Ethereum price is trading above key supports versus the US Dollar and bitcoin. ETH price must stay above $185 to…

Ethereum and Altcoins to Turn Bullish as Bitcoin Price Wavers?

The most recent Bitcoin price drop caused many altcoins to drop heavily, but can one say that they are doing poorly or is it only their USD pairs which are affected? Since a temporary bottom was found at the start of September, altcoins have steadily gained value in their BTC pairings. Take the following, for example: ETH/BTC is up +32%, XRP/BTC +27% and XLM/BTC has gained +29% during this time.  Crypto market data. Source: Coin360 Let’s take a closer look at altcoins to investigate what is happening. Altcoins total market…

Multiple Timeframes Show Macro Bullish Trend Intact

Bitcoin price made a strong downside move yesterday, dropping nearly 16% from the daily open at $9,691 to a new local low at $8,164. In doing so, price broke strong support at $9,090 and exited the range that it has been trading in since June. Bitcoin’s price action remains bearish below this range. BTC/USD Daily Chart. Source: TradingView Keep an eye on the patterns There were three patterns widely identified by traders on the Bitcoin chart — the descending triangle, descending channel and bull pennant. Bitcoin bears pointed to the…

Ethereum, Dogecoin Signal First Bullish Trend Reversal in 2 Years

When the Binance ban for users in the United States was first announced a few months ago, the market feared that significant volume and money would exit.  Interestingly enough, as the launch of Binance America nears, altcoins are suddenly starting to move upwards with decent volume. Sell the rumor, buy the news. Cryptocurrency market 7-day performance. Source: Coin360 It’s not only Ether (ETH) making significant gains upwards after bouncing from $170 either.  Other altcoins are also currently outperforming Bitcoin (BTC). Stellar Lumens (XLM) is up 42% from its recent bottom,…

Bitcoin Miners Uber Bullish as Difficulty Set for 60% Quarterly Growth

Bitcoin (BTC) will see its mining difficulty grow by almost two-thirds in Q3 2019, new data reveals as the metric astounds markets. Bitcoin metrics show big competition in play Uploading historical and future projections to Twitter on Sept. 19, well-known analyst Kevin Rooke noted difficulty had already expanded at an average of 42% each quarter since 2016. With the exception of Q4 2018, the floor of the Bitcoin bear market, growth has been positive consistently ever since. 2019’s increases have been almost vertical compared to the previous period. “Difficulty is…

Deflation with Negative Interest Rates Is Bullish for Bitcoin – CCN.com

The European Central Bank (ECB) is the modern architect of negative interest rates. | Image: AFP PHOTO / JOHN THYS The world is slowly descending into the age of deflation. Under this condition, central banks adopt a negative interest rate policy (NIRP). In other words, those who park their cash in banks must pay interest. This forces many citizens to invest their excess cash in assets such as stocks, commodities, or even cryptocurrencies. In 2014, the European Central Bank (ECB) embraced NIRP. The Bank of Japan followed suit in 2016.…

Ethereum Price Flashing Bullish — Can ETH Trigger an Altcoin Revival?

For the past two weeks, Ether (ETH) price has been a frequent topic of discussion among traders. Investors are beginning to wonder if the altcoin has finished its retrace from a 2019 high at $364 and this week Ether settled at the $170 support and proceeded to reverse course. Cryptocurrency Monthly Performance. Source: Coin360 While this is not terribly exciting, and not convincing enough to indicate a trend reversal, the excitement comes from the interpretation that if Ether bottoms and reverses course, other ailing altcoins will follow suit.  Traders will…