Key Bitcoin price indicators signal bulls bought the $43K restest

Bitcoin’s (BTC) severe 26% drop from its $58,300 all-time high on Feb. 20 injected a bit of bearishness into the market but from a technical perspective, this was purely psychological as the digital asset held the $43,000 support with ease. This downside move caused indicators like the Crypto Fear & Greed Index to hit 38, its lowest level in five months. Bitcoin price in USD at Coinbase. Source: TradingView Even though a $15,400 downside move might seem unusual, 25% and even larger corrections have happened on six separate occasions during…

Altcoins nurse double-digit losses as Bitcoin bulls fight to retake $49K

Another wave of selling pressure hit the cryptocurrency market on Feb. 23 as Bitcoin struggles to reclaim the $49,000 level. Data from Cointelegraph Markets and TradingView shows that Bitcoin fell under intense pressure in the early trading hours on Tuesday and this pushed the price of BTC as low as $44,927 before buyers arrived to stop the descent. The majority of altcoins and DeFi tokens are now even deeper into their double-digit losses and Bitcoin (BTC) price has dropped by more than $10,000 in the past 48 hours.  BTC/USDT 4-hour chart.…

TA: Bitcoin Price Climbs Above $58K, Why Bulls Could Aim $60K

Bitcoin price remained in a positive zone and it traded to a new all-time high above $58,000 against the US Dollar. BTC is now correcting gains, but it is likely to continue higher towards $60,000. Bitcoin extended its rise above $57,000 and it traded to a new all-time high at $58,350. The price is still well above $55,000 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $55,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The…

Data show bulls are in charge of this month’s $3.2B Bitcoin options expiry

After a 160% increase over the past 3 months, the open interest on Bitcoin (BTC) options reached a new record-high at $12 billion. While this number might seem unusually high, it makes sense that the figure would increase as Bitcoin’s market capitalization surpassed $1 trillion.  Deribit BTC options open interest in USD. Source: laevitas.ch Although Friday’s $3.2 billion expiry could negatively impact the market, these options are split among calls (neutral-to-bullish) and the more bearish put options. As shown in the chart above, Deribit exchange leads the market by holding…

Charted: Binance Coin (BNB) Surges Towards $250, Why Bulls Are Not Done Yet

Binance coin price is up over 35% and it is extended its rally above $200 against the USDT. BNB traded to a record high at $238 and it seems like there are chances of more upsides. Binance coin price extended its rally above the $175 and $200 resistance levels against the USDT. The price traded to a new all-time high at $238 and it settled well above the 100 simple moving average (4-hours). There was a break above a couple of bullish continuation patterns at $170 and $200 on the…

2 Key Reasons Why Bitcoin Bulls Expect Further Upside

Bitcoin has seen strong gains over the past seven days. According to CoinGecko, the leading digital asset is up 16% in the past seven days, outperforming Ethereum and a number of other digital assets. Despite this strong rally in the price of the leading digital asset, analysts are expecting further gains in the weeks ahead. Here are a few reasons why this sentiment has been shared about Bitcoin. Related Reading: Wall Street Veteran Kickstarts Own Bitcoin Fund With $25m Investment #1: Bitcoin Is Seeing Strong Corporate Demand Bitcoin is seeing…

Bitcoin bulls eye $50K as data show BTC’s liquid supply in steady decline

On Feb. 12 Bitcoin (BTC) price hit a new all-time high at $48,985 before pulling back to the $46,000 level.  A quick glance at the 4-hour chart shows the top-ranked cryptocurrency trading in what appears to be a brief phase of consolidation but BTC is still maintaining its bullish momentum through a pattern of higher highs and higher lows. If BTC can maintain its current pace and structure, a move to the $50,000 level could possibly occur before the weekend ends. BTC/USDT 4-hour chart. Source: TradingView A report released by…

Why Bitcoin Bulls Could Aim $50K After Recent Rally To $48.6K

Bitcoin price started a fresh upward move from the $44,000 zone against the US Dollar. BTC traded to a new all-time high near $48,680 and it is likely to continue higher towards $50,000. Bitcoin is showing a lot of positive signs above the $46,000 and $47,500 resistance levels. The price is trading above the $48,000 resistance and the 100 hourly simple moving average. There is a key contracting triangle pattern forming with support near $47,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is…

Binance Coin (BNB) Rallies To $125, Why Bulls Are Not Done Yet

Binance coin price is up over 50% and it is outperforming bitcoin against the USDT. BNB rallied above USD 100 and USD 125, and it is likely to continue higher. Binance coin price is gaining bullish momentum above the $120 level against the USDT. The price is up over 50% and it traded to a new all-time high near $126. There was a break above an ascending channel with resistance near $120 on the 4-hours chart of the BNB/USDT pair (data source from Binance). There are chances of more upsides…