BNB Is Under Correction But May Resume Bullish Trend Soon

BNB has been maintaining a bullish move for the past few weeks, but the price is now retracing near $20.5 support level. Binance Coin remains bullish on the hourly chart, but the bears may take over if the price drops below the ascending broadening wedge. Over the past few weeks, Binance Coin has witnessed substantial growth which has led the cryptocurrency to surge above $20 following a recent price break. The performance of BNB has created a bullish sentiment, which is positioning the market for an incoming bull run. Meanwhile,…

Long Bitcoin, Bullish on Altcoins – XLM, VET, ONE

Altcoins have been inching their way deeper into my trading routine and this seventh entry of the crypto trading journal features a newly opened position on VeChain (VET), as well as a timely buy of Stellar Lumens (XLM). I am still long on Bitcoin (BTC) from under $9,000, as price moves sideways. XLM/BTC Part 1: Setting up the trade Entries: .00000800 satoshis (sats), .00000870(sats), .00000797 (sats) Targets: 0.00000940 (sats), .00001044 (sats) Stop loss: The first stop loss was set at .00000781 (sats) on the breakout. As usual, I move this…

‘Bullish for Bitcoin’ — China Scraps Plans to Ban Cryptocurrency Mining

Bitcoin (BTC) mining will not face a state crackdown in China, authorities have confirmed in new official documents. As noted by Blockstream CSO Samson Mow and others on Nov. 6, mining no longer features on a list of industries Beijing considers undesirable.  “Bullish for Bitcoin” The change came via a new edition of China’s Industrial Structure Adjustment Guidance Catalog, which will take effect from the start of 2020. “China’s National Development and Reform Commission has removed #cryptocurrency mining from the list of industries they want to eliminate. Bullish for #Bitcoin,”…

Bitcoin (BTC) Price Weekly Forecast: Signs of Bullish Continuation

There are positive signs emerging for bitcoin above the $9,200 support against the US Dollar. The price is slowly moving higher and it could retest the $9,770 resistance area in the near term. There was a break above a key contracting triangle with resistance near $9,240 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The price remains well supported and it could even surge above $9,800 in the coming days. Bitcoin price is trading above key supports near $9,000 and $9,200 against the US Dollar. BTC…

Bitcoin’s First Monthly Gain Since June Spells Bullish for Q4 2019

Bitcoin price (BTC) closed out October at $9,150, which represents the first monthly gain since June.  October also brought new lows of $7,300, which was met with a memorable swing of around 40% back up to highs of $10,350.   So far, Friday has brought a small gain to Bitcoin price of around 0.39%, but down over the previous 24 hours by 1.61% with the retrace also being seen among the other major coins.  Cryptocurrency market daily view. Source: Coin360 Monthly Bitcoin price chart The Bitcoin chart clearly shows that BTC…

Key Indicator Turns Bullish as Bitcoin Struggles to Break Above $10K

View The three-day chart MACD’s first bullish turn in over three months could bode well for bitcoin’s price, according to historical data. The cryptocurrency may challenge 2019 high above $13,800 before the year’s end. The immediate outlook, however, is bearish and prices could drop to $8,800 in the next day or two, with the daily chart reporting buyer exhaustion. Further, China’s state media has asked investors to avoid speculative behavior which could dampen trading. A pennant breakout on the hourly chart could yield a re-test of recent highs above $10,000,…

Bitcoin (BTC) Price Weekly Forecast: Is This Real Bullish Break?

There was a strong rise in bitcoin price from above $8,000 and $9,000 against the US Dollar. The price even spiked above the $10,000 resistance, but it failed to hold gains and declined. There is a short term bullish trend line forming with support near $9,080 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The price could bounce back as long as it is trading above the $8,600 and $8,500 support levels. Bitcoin price is trimming gains after a sharp rally against the US Dollar. BTC…

Bitcoin Back Below $8K — But Is the Macro Bullish Trend Broken?

Bitcoin (BTC) price has continued its multiple-day slide, dropping 5.3% over the past two days and 9.6% from it’s $8,800 high 5 days ago. While Bitcoin bears are celebrating, the price remains range-bound, as can be seen clearly on the daily chart. Bitcoin price has been trading in this range since September 25th, the day after the large drop from $10,000.  Bulls will be looking for a break above the range to signal likely price appreciation, while the bears have their eyes on the bottom for a breakdown and further…

Bitcoin Back Below $8K — Is the Macro Bullish Trend Finally Broken?

Bitcoin (BTC) price has continued its multiple-day slide, dropping 5.3% over the past two days and 9.6% from it’s $8,800 high 5 days ago. While Bitcoin bears are celebrating, the price remains range-bound, as can be seen clearly on the daily chart. Bitcoin price has been trading in this range since September 25th, the day after the large drop from $10,000.  Bulls will be looking for a break above the range to signal likely price appreciation, while the bears have their eyes on the bottom for a breakdown and further…