Skip to main content

Krypto Uncle

Search This Blog

Bitcoin price looks to resume bull cycle after rising above $34K

January 25, 2021

Get link
Facebook
X
Pinterest
Email
Other Apps

via Cointelegraph.com News https://ift.tt/39bZ4U1

The price of Bitcoin has to break a key resistance level to revive its bullish trend.

Get link
Facebook
X
Pinterest
Email
Other Apps

Comments

Post a Comment

Popular Posts

XRP, BTC and BNB Price Analysis and Prediction

via ZyCrypto https://ift.tt/2EkgApH XRP achieves a high of $0.35499 BTC Targets $4000 level BNB gets over $10 level XRP/USD The rally by XRP in the last few days seemed to have gained momentum as the currency yet again achieved new highs, before tracing its way back to its current level of 0.3380 as of going to press. XRP managed to weather off the bearish engulfing at the dawn of 19t h as the bulls managed to strike a price reversal on the upwards and pushed the currency price to a new high of 0.35499. This didn’t last for long though as the bears came calling and pulled the price down to a low of 0.32820. Later, a death cross pattern was formed when the 21 day MA crossed over the 7 day MA seemingly signaling that the price would fall down even further. True to this, the bears pulled the price further down to a low of 0.32363. XRP Forecast Looking at the Moving averages, it seems that an intertwining is imminent.The RSI is between 40 and 60, seemingly portraying tha...

On-Chain Analysis Suggests There Are Few Bitcoin Sellers Preventing a Rally

Bitcoin has seemingly entered no man’s land, with the price ping-ponging between $11,000 and $12,000. A top analyst has corroborated this sentiment, recently noting that neither his bull nor bear case has been confirmed. Chances are that this consolidation will resolve upward, though, according to a new analysis. This analysis suggests that there is little on-chain resistance stopping BTC from rallying to new local highs and beyond. Related Reading: Crypto Tidbits: MicroStrategy’s $250m Bitcoin Purchase, ETH DeFi Boom, BitMEX KYC Bitcoin Could Be Buoyed as Few Sellers Remain According to recent data from WhaleMap shared by a crypto trader, there is little on-chain resistance stopping a Bitcoin rally from current levels. Referencing the chart below, the trader wrote : “To add to this…: This chart shows where bitcoins where accumulated at. What do you see? There are very few bag holders left. Meaning, there is little sell pressure left. The only real sell pressure now is peop...

Max Keiser: Bitcoin’s Rising Hash Rate Shows Confidence in Fiat is “Collapsing”

Bitcoin’s recent mining rewards halving that took place just a couple of months ago went off without a hitch and has had a negligible adverse impact on the dynamics seen amongst the cryptocurrency’s miners. This comes despite what many analysts had previously believed, as some had been calling for an imminent “ hash rate death spiral ” that would be induced by the event. Despite this, BTC’s hash rate was able to surge to a fresh all-time high yesterday and isn’t showing any signs of spiraling lower any time soon. Now, one prominent investor and Bitcoin advocate is noting that he believes hash rate precedes price – with this being a positive sign for BTC’s near-term outlook. He also notes that the growth this metric has seen elucidates a collapse in confidence for fiat currencies. Bitcoin’s Hash Rate Surges to All-Time Highs; Avoids “Death Spiral” The block rewards reduction that took place in May hampered miner’s profitability and led some analysts to suspect that it would cause ...

Powered by Blogger