Category: Bitcoin News

Bitcoin Price Jumps $1K In 30 Minutes to Top $10,000 Again

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Bitcoin surged $1,000 in just 30 minutes during U.S. trading hours Thursday, a move that found the leading cryptocurrency rising from $9,335 to a high of $10,400, based on Bitstamp data. The sudden rally could be associated with the massive unwinding of short BTC/USD positions (profit taking) seen in 30 minutes to 15:00 UTC, as reported by bot powered twitter handle @WhaleCalls. Prices had dropped to a low of $9,280 at 14:00 UTC, having repeatedly failed to beat the psychological resistance of $10,000 in the Asian session and during early European trading…

The Case $7.5K Could Become Bitcoin’s New Price Support

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Amidst a decline in the price of bitcoin, the world’s most valuable cryptocurrency could find support at $7,500 – that is if it follows past patterns on the charts. Bitcoin has faced selling pressure over the last few days, despite an impending golden crossover on the three-day chart – a bullish crossover of the 50- and 200-candle moving averages, as discussed last week. As of writing, the 50-candle moving average (MA) is on an upward trajectory and looks set to cross above the 200-candle MA in the next few days.…

Key Bitcoin Price Indicator Turns Bearish in First Since December

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View Bitcoin could fall to the July 2 low of $9,614 and may break lower in the short-term, as the widely tracked MACD (moving average convergence divergence) histogram on the three-day chart has turned bearish for the first time since December. Buyer exhaustion above $12,000, as seen on the weekly chart, also supports the case for a stronger correction. Dips below $9,000 could be short-lived, courtesy of an impending golden crossover on the three-day chart. A weekly close above $12,000 would indicate a resumption of the rally from April lows…

Bitcoin’s 3-Day Price Charts Point to an Impending ‘Golden Cross’

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A bitcoin price indicator is about to turn bullish for the first time since the early stages of the 2016-17 bull market. The 50-candle moving average (MA) on bitcoin’s three-day chart is in a solid upward trajectory and looks set to cross above the 200-candle MA in the next few days. That would be the first golden crossover on the three-day chart since early February 2016. CoinDesk reported on a golden cross for bitcoin’s daily chart back in April. Seasoned traders often refer to that long-term bull market signal as…

Bitcoin Price Drops $2K in 24 Hours But Bull View Still Intact

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View Bitcoin suffered a significant drop in the last 24 hours, but the higher-lows pattern on the daily chart is still intact and the outlook remains bullish. A daily close below the July 2 low of $9,615 would invalidate the bullish higher-lows pattern and confirm a bearish reversal. The case for a drop to $9,615 would strengthen if BTC prints a UTC close below $11,550 today, validating Wednesday’s bearish outside day candle. A high-volume wedge breakout on the hourly chart, if confirmed, would imply an end of the pullback and…

Bitcoin Price Recovers 85% of Recent Losses With Move Above $13K

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View BTC continues to chart bullish higher lows and higher highs on short duration charts, favoring a retest of the recent high of $13,880. A move to $13,880 may take time if prices drop below key support at $12,538. That would allow a deeper pullback to $12,000. A high-volume UTC close below $12,000 would invalidate the short-term bullish setup, although that looks unlikely. Bitcoin (BTC) bolstered its already bullish technical setup with a move above $13,000 earlier today. The top cryptocurrency by market capitalization rose to $13,154 in the Asian…

Bitcoin Price Eyes Move Above $13K as Dominance Rate Hits 2-Year High

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View Bitcoin’s violation of recent bearish lower highs with a move above $12,061 has opened the doors for a retest of $13,880. Prices reinforced the bull breakout with a successful defense of the former resistance-turned-support of $12,061 soon before press time. Bitcoin’s dominance rate has spiked to 27-month highs, backing the uptrend in prices. A high-volume UTC close below $12,000 would abort the bullish view. Bitcoin’s break above a key price hurdle looks to have set the tone for a retest of recent highs above $13,800. The top cryptocurrency bu…

Bitcoin Price Nears $12K After Rising $500 in Minutes

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View BTC could rise to key resistance at $12,061 in the next few hours, as the hourly chart is reporting a symmetrical triangle breakout. A  high-volume break above $12,061 would invalidate the bearish lower-highs pattern and open the doors to the recent high of $13,880. However, a break with low volumes could turn out to be a bull trap, especially as the weekly chart indicators continue to report overbought conditions. On the downside, a move below $10,769 (July 5 low) would expose last week’s low of $9,615. Bitcoin leaped into…

Bitcoin Drops 5% Making $12K the Level to Beat for the Bulls

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View BTC has fallen more than $1,000 in the last 24 hours, establishing a bearish lower high at $12,061. A high-volume break above $12,061 is thus needed to revive the bullish view put forward by a bearish channel breakout seen in the 4-hour chart earlier this week. That would open the doors to $13,880. A move below Wednesday’s low of $10,830 would shift risk in favor of a drop to Tuesday’s low of $9,614. Bitcoin’s (BTC) price needs to break above $12,061 to mitigate bearish pressure. The top cryptocurrency by…

Bitcoin Eyes Independence Day Price Gains for Fifth Year Running

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View Bitcoin could rise above $12,000 with the daily chart reporting a bullish reversal. A high-volume bullish breakout on the hourly chart indicates scope for a rise to the bearish lower high at $12,448. BTC could yet post losses today, however, if prices find acceptance below key support at $11,385. Bitcoin (BTC) looks set to close in the green on U.S. Independence Day for the fifth consecutive year, having recovered nearly 25 percent from recent lows. The top cryptocurrency by market capitalization rose 1.17, 1.79, 3.35 and 1.67 percent on…

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