Analysts Eye $20,000 Bitcoin as Price Breaks Major Resistance

Bitcoin leaped over $10,000 in Monday trade as a weakening dollar sentiment sent risky assets higher. The cryptocurrency corrected lower in the early morning Tuesday but signaled strength amid an optimistic macro outlook. Top analysts further predicted the rally to continue, with popular crypto commentator, Ivan Liljeqvist, forecasting a $20,000 price prediction. Bitcoin was among the best-performing assets heading into the new week. The cryptocurrency rose by almost $1,000 in less than 12 hours on Monday, leaping over a crucial resistance level sitting at $10,000. The surprising rally surfaced as investors…

Analyst Who Called 2019’s $6k Bitcoin Low Says Current Price Action Is “Pivotal”

After coiling under $10,000 for days, Bitcoin saw an explosive breakout on Monday. The cryptocurrency reached a local high of $10,429 during the surge higher, around $1,000 higher than where it had traded at just days earlier. $10,429 is the highest price BTC has traded at since February’s highs. While the price action has undoubtedly been bullish for the flagship cryptocurrency, a top analyst says that pivotal moments lie ahead for Bitcoin. That’s to say, BTC is not out of the woods just yet. Here’s more on why. Related Reading: This…

Ethereum Hesitates Near $250 But Further Gains Seem Likely

Ethereum is gaining bullish momentum and it recently tested the $250 resistance against the US Dollar. ETH price is likely to continue higher above the $255 and $260 resistance levels. Ethereum is showing a lot of positive signs above the $240 level. The price is currently struggling to gain bullish momentum above the $250 resistance zone. There is a key bullish trend line forming with support near $242 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to accelerate higher above the $255 and $260…

Bitcoin Smashes $10K: Key Reasons Why BTC Could Correct Before Fresh Increase

Bitcoin is up more than 5% and it broke the main $10,000 resistance against the US Dollar. BTC price could correct lower in the short term towards $9,950 before it starts a fresh increase. Bitcoin rallied recently and broke many key hurdles near $9,950 and $10,000 (as discussed yesterday). The price traded to a new weekly high at $10,371 and it is currently correcting lower. There is a key connecting bullish trend line forming with support near $9,740 on the hourly chart of the BTC/USD pair (data feed from Kraken).…

Bitcoin Erupts Past $10,000 After Consolidation: $90 Million Liquidated on BitMEX

Bitcoin has finally done it. Minutes ago, the asset rocketed past $10,000 for the first time in weeks, reaching as high as $10,250 in a massive surge upward. This was a more than 7% jump from where the cryptocurrency was trading prior to the move. Traders were largely unaware that this move was going to happen. As a result, data from Skew.com shows that more than $80 million worth of short positions were liquidated on BitMEX alone. These shorts were liquidated within the span of an hour, and these numbers…

Twitter’s Bitcoin Sentiment Suggests a Price Breakout is Imminent: Here’s Why

Some of the top altcoins by market capitalization, such as Ethereum, have been posting significant gains lately. Meanwhile, Bitcoin remains stagnant within a narrow trading range. The flagship cryptocurrency is consolidating between $8,800 and $10,080 since late April without giving any clear signs of where it is headed next. One of the most prominent analysts in the industry maintains that Bitcoin’s inability to move past the $10,000 resistance level adds credence to a sudden bearish impulse that could see it plummet to $6,300. Nonetheless, others believe that the pioneer cryptocurrency…

Restored Falling Wedge Pattern Sees Bitcoin Rising above $11,500

It appears Bitcoin missed a medium-term upside target above $11,500 after undergoing a significant sell-off in March 2020. The major northward move had appeared out of a Falling Wedge breakout. Bitcoin reentered the Wedge after the crash and followed it with a breakout towards a new bull target near $9,500. The cryptocurrency is still eyeing $11,500. Bitcoin is sending a buy signal. So shows a textbook technical indicator called Falling Wedge. The chart pattern started forming after Bitcoin surged to near $14,000 in June 2019. As the cryptocurrency started correcting…

4 Indicators Show Bitcoin Has a “High Chance” of Falling in Next 2 Weeks: Analyst

Bitcoin has mounted a strong recovery since the lows seen last week. The leading cryptocurrency traded as high as $9,750 on Saturday, over 13% higher than last weekend’s lows. Even still, there remain textbook technical indicators suggesting there is a “high chance” BTC sees a correction in the coming weeks. According to the analyst that made this observation, this may be the largest correction Bitcoin has seen since March’s capitulation event. Watch Out: Bitcoin Could Fall in the Next 2 Weeks BTC may have bounced strongly since last week’s correction…

Ethereum Just Saw Key Technical Breakout: Break Above $250 Seems Likely

Ethereum is trading in a strong uptrend above the $230 pivot zone against the US Dollar. ETH price is likely to continue higher above the $245 and $250 resistance levels. Ethereum started a downside correction from the $250 resistance zone. The price corrected below the $240 level, but it found support near the $230 level. There is a major bullish trend line forming with support near $232 on the hourly chart of ETH/USD (data feed via Kraken). The pair is likely to continue higher above the $245 and $250 resistance…

Bitcoin Above $9,750 Would Make Case for Larger Rally: Here’s Why

Bitcoin is trading nicely above the $9,400 support zone against the US Dollar. BTC price is likely to continue higher towards $10,000 if it clears $9,600 and $9.750. Bitcoin is trading with a positive bias above the $9,400 support zone. The price could struggle to clear the $9,600 and $9,750 resistance levels in the short term. There was a break above a key contracting triangle with resistance near $9,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a strong increase if it…