View Bitcoin’s daily trading volume remains elevated at highs above $10 billion, going against the technical theory that investor interest tends to drop during periods of consolidation. Therefore, the ongoing sideways trading near $3,900 may end with a bull breakout…
Tag: Prices
Bitcoin Price Trapped in Key Make-or-Break Trading Range
View Bitcoin is trapped in a trading range defined by the 200-week simple moving average and the 200- week exponential moving average, currently at $3,404 and $4,106, respectively. Therefore, the outlook as per the weekly chart is neutral. A weekly…
Bitcoin Will Soon See ‘Bull Cross’ in First Since August 2018
View Bitcoin’s 50-day moving price average could soon move above the 100-day moving average, confirming its first bullish crossover in seven months. While the bullish crossover is a lagging indicator, the current slope of the MAs is signaling bearish exhaustion.…
A Bitcoin Bull Market Is Still $350 Away
View Bitcoin has established a higher low near $3,300 in the last two months, signaling bearish exhaustion. However, a break above the Christmas Day lower high of $4,236 is needed to confirm a bearish to bullish trend change. Bitcoin (BTC)…
Bitcoin Struggles to Pass Price Hurdle But Bull Outlook Intact
View Bitcoin’s short-term outlook remains bullish while prices are held above $3,658 (the low of the long-tailed doji created on Feb. 27). A break above $4,000, however, could be preceded by a pullback to $3,750 if another rejection at a…
Three Price Resistance Levels to Beat For Bitcoin Bulls
View Bitcoin’s bull revival, as signaled by the weekly chart indicators, is still in the nascent stage and will likely become more entrenched if and when prices clear the resistance levels at $4,190, $4,236 and $4,388. A high volume break…
Bitcoin Eyes $4K After Erasing Monday’s Price Losses
View Bitcoin has erased losses seen on Monday with a strong bounce from the bullish 5-week moving average (MA) support of $3,703. That has raised the odds of a rally to the psychological hurdle of $4,000. A bull flag breakout…
Bitcoin Seeking Gains After Retaking Key Price Support
View Bitcoin’s immediate outlook will remain neutral while prices are trapped in the range of $3,658-$3,900. If the bulls can keep prices above the 5-week MA support at $3,703, we could see a rally above $4,000. The average is reporting…
Bitcoin Is Now Officially In Its Longest Bear Market Ever
Bitcoin has officially entered the longest stretch of declining prices in its 10-year history. The world’s oldest and most valuable cryptocurrency achieved an all-time high of $19,764 on Dec. 17, 2017 on the CoinDesk Bitcoin Price Index and has printed a…
Bitcoin’s Price Counters the VIX, Confirming It’s Still a Risk Asset
Evidence is emerging that bitcoin has yet to truly earn its reputation as an “uncorreleated asset.” Case and point, bitcoin’s latest sell-off from $6,000 to nearly $3,000 was accompanied by a surge in the CBOE Volatility Index (VIX). The VIX measures the…