Bitcoin Rallied 80% Without Any Gov’t Bailout: Time to Get Bullish?

The Bitcoin (BTC) price remained relatively sideways last week and not once did it test resistance or support of the descending channel identified in last week’s analysis.  As such, today I’m looking at a new bullish case for Bitcoin that could see the leading digital asset see incredible growth if $7,200 resistance is broken as far as the technicals are concerned.  However, last week proved a massive fundamental turning point for Bitcoin that very few are talking about. Daily crypto market performance. Source: Coin360.com Bitcoin’s old path BTC USD daily…

Bitcoin Price Turns Bullish as Traders Fight to Flip $6,400 to Support

Bitcoin (BTC) price perked up today, rallying from $5,688 to a daily high at $6,600. The digital asset defied the worst fears of analysts by holding above the $5,400 support and currently Bitcoin continues to show growing strength in the face of wilting equities markets.  Interestingly, gold and silver prices also rallied 4.42% and 5.94% as the S&P500 and Dow closed the day with moderate losses. This could indicate that market participants who recently exited their stock positions could be looking for shelter and growth in store-of-value assets.  Thus, crypto…

Ethereum Bulls Aim Key Bullish Break Above $150 and 100 SMA

Ethereum started an upside correction above the $130 resistance against the US Dollar, similar to bitcoin. However, ETH price is facing a few key hurdles near $150 and the 100 SMA (H4). ETH price is currently trading nicely above the $120 and $125 support levels against the US Dollar. The price is likely to move higher in the short term towards the $150 resistance. There is a key bullish trend line forming with support near $126 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair is likely…

Raoul Pal Super Bullish on Bitcoin Price After Miraculous 80% Rebound

Bitcoin (BTC) is now turning the ongoing coronavirus disaster into a cause for gains — the cryptocurrency is up 80% in just one week.  As the effects of the pandemic on traditional markets intensify, Bitcoin has appeared to U-turn on its bearish stance. Pal: “Entire system” at risk of loss Data from Coin360 and Cointelegraph Markets showed BTC/USD climbing as high as $6,650 on March 20 — 24-hour gains of over 20%. Versus last week’s lows of around $3,700, the pair has appreciated 79.5%. Bitcoin price 7-day chart. Source: Coin360…

Bitcoin Risks Tanking to 13-Month Low Even as Top Analysts Remain Bullish

Bitcoin prices remain vulnerable to more dives even as top analysts print a rosy picture for the cryptocurrency. The bitcoin-to-dollar exchange rate appears trapped inside a technical range, dubbed as Symmetrical Triangle, since March 12. The pair is oscillating between two converging trendlines as it marches towards the Triangle’s apex. The pattern shows a weak buying demand near the Resistance and a similarly low selling pressure near the Support. BTC/USD stuck in Triangle’s range | Source: TradingView.com Bitcoin’s hourly momentum indicator flashes a similar buying/selling sentiment. The cryptocurrency’s recent higher…

Ripple (XRP) Eyeing Bullish Break But It Must Hold This Key Support

Ripple is showing signs of a decent recovery above $0.1400 against the US Dollar. XRP price could attempt to surpass the $0.1650 resistance and start a strong rise. Ripple price is facing a couple of key hurdles near $0.1620 and $0.1650 against the US dollar. A key support base seems to be forming near the $0.1400 area. There is an important contracting triangle forming with resistance near $0.1650 on the hourly chart of the XRP/USD pair (data source from Kraken). The price might attempt to start a strong rise above…

There Are More Reasons to Be Bullish On Bitcoin Than Bearish

After Thursday’s brutal crash and the follow-up wick on Friday morning, Bitcoin investor sentiment is down in the dumps; many believe there are few reasons to be bullish on the short-term to long-term prospects of the leading cryptocurrency. While this was seemingly true when BTC traded as low as $3,800, analysts are saying that the bull case for the asset, at least for the short-term, is rapidly building. Bitcoin Is Technically Bullish At Current Levels Trader CJ remarked that there are more reasons to be bullish on Bitcoin than bearish,…

Analyst 4 Reasons Why Bitcoin Is Looking Extremely Bullish at $9,000

Despite the slight recovery seen over the past few days, analysts still fear that Bitcoin is on a trajectory that will see its price correct even further than it already has. In fact, Related Reading: Crypto Tidbits: India Makes Watershed Ruling On Bitcoin, Elon Musk Bumps Dogecoin, Ethereum Founder Supports Twitter CEO Some, however, aren’t so concerned. One persistent bull is a trader fittingly going by, uh, “CryptoBull.” The commentator on Saturday shared four reasons why he remains bullish on Bitcoin’s medium-term to long-term price outlook, seemingly trying to assuage…

Bitcoin Bullish Reversal Held Off As Bulls Fail To Defeat $9k Resistance

Bitcoin is slowly gaining bullish momentum above $8,800 against the US Dollar. BTC price must settle above the $9,000 barrier to start a convincing rally towards $9,500. Bitcoin is showing positive signs above the $8,800 resistance area against the US Dollar. The price remains well supported on dips near the $8,840 and $8,780 levels. There is a major bullish trend line forming with support near $8,780 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a massive upward move once it clears the…

Ripple (XRP) at Major Inflection Point And Candles Warn Bullish Reversal

Ripple is following a bullish path above the $0.2320 support zone against the US Dollar. XRP price is likely to accelerate higher above the $0.2400 and $0.2420 resistance levels. Ripple price is slowly climbing higher above the key $0.2350 level against the US dollar. The price is likely to gain bullish momentum above $0.2380 and $0.2400 in the near term. There is a major bullish trend line forming with support near $0.2330 on the hourly chart of the XRP/USD pair (data source from Kraken). The price remains well supported on…