Bitcoin Bulls And Bears Reach Standoff, BTC Consolidates Below $20K

Bitcoin volatility earlier in this week reached some of the most explosive price action in the asset’s history. In just a four hour window, the cryptocurrency rose and fell more than $1,000 each way, gyrating back and forth as buyers and sellers attempt equilibrium. But after that powerful surge, indecision is showing through a reduction in volatility, and a tightening trading range. Bulls and bears are both in a standoff at this point, and either a drop is near, or $19,500 will finally give in as resistance. Here’s a look…

Bitcoin Reaches a Juncture as Bulls Try to Thwart Selloff to $17,000

Bitcoin has been facing some immense volatility throughout the past few days and weeks, with sellers stepping up and trying to invalidate the strength seen by the cryptocurrency as they hold it below the key $19,000 level. A sustained bout of trading below this level will certainly degrade its technical strength. Still, the intensity of each selloff seen following rejections at its all-time highs appears to be diminishing. This signifies that the cryptocurrency is growing technically stronger, as the series of higher-lows formed in the time since it plunged to…

XRP Prepares for Another Leg Up, Bulls Target $1

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CME Gap and Profit-Taking Hazardous for Bitcoin Bulls

Key Takeaways A CME futures gap presents a risk to traders attempting to buy a breakout above $20,000. On-chain data from Santiment suggest whales expect further BTC appreciation. A technical failure above $20,000 could provoke a strong pullback towards $17,000. Share this article Bitcoin’s outlook remains positive in the near-term, as dip-buyers continue to support the bellwether cryptocurrency. This support continues following the bullish news that global investment firm Guggenheim is set to invest $500 million into BTC. The news appears to have overridden recent fears that U.S. regulators are…

Bitcoin price hits $19K as bulls show no fear of record futures gap

Bitcoin (BTC) returned to $19,000 on Nov. 30 as a weekend surge continued to produce fresh gains for investors and hodlers. BTC price up 18% against weekly lows Data from Cointelegraph Markets and TradingView showed BTC/USD retaking another key psychological level during Monday trading. The weekend had already produced major upside for the pair, which late last week dived to $16,300. By the start of Monday, $18,600 had appeared, with Bitcoin going on to deliver returns of at least 17% versus those lows. As Cointelegraph reported, a giant $1,300 CME…

Bitcoin Price Corrects 5%, Why Bulls Are Still Comfortable

Bitcoin price formed a double top pattern near $19,500 and corrected lower against the US Dollar. BTC is now trading below $18,500 and it could test the $18,000 support or $17,600. Bitcoin failed again to clear the $19,500 resistance and started a sharp downside correction. The price declined sharply below the $19,000 level and the 100 hourly simple moving average. There was a break below a major bullish trend line with support near $19,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is now…

Bitcoin price, altcoins and the Dow set record highs as bulls run the market

On Tuesday the bulls showed that they are in full control of the crypto market as Bitcoin (BTC) rallied to $19,418.97 and several top-10 altcoins went on a double-digit rampage to new 2020 highs. Notable performers of the day were Stellar Lumens (XLM) and XRP with a 53% and 38% gain respectively.  Daily cryptocurrency market performance. Source: Coin360 With all the excitement and anticipation surrounding the possibility of BTC moving to $20,000, crypto traders may have missed an equally impressive performance in traditional markets. On the same day the Dow…

Litecoin Bulls Breach February Yearly High, Heading for $100

Key Takeaways Litecoin set a new yearly high at $89.70 after breaching the February 2020 high. On-chain data shows low selling pressure from whales, indicating more room for upside growth. The William Alligator indicator shows a bullish trend emerging on higher time frames. Share this article Litecoin has surged to a new 2020 trading high after breaking past the February 2020 high with relative ease. The strong bullish momentum LTC experienced last week could easily spill over into this week as institutional investors turn to the Bitcoin fork as an…

Bitcoin price breaks past $18.8K as bears and bulls map out its path

There are both bearish and bullish scenarios for Bitcoin in the foreseeable future. The bear cases surround two key data points: rising BTC deposits from whales to exchanges and BTC’s lack of retests of crucial support levels. The bull cases are based on HODLer activity, address activity, the market capitalization gap between BTC and gold, and the favorable technical structure of Bitcoin. Bitcoin surpassing $18,500 is critical for its near-term price cycle. There were large sell orders right above $18,500, which acted as a strong resistance area. In prior attempts…

With ETH 2.0 Just 11 Days Away, Ethereum Bulls Take Aim at $600

Key Takeaways Ethereum’s founder Vitalik Buterin ensured that Serenity will launch on time regardless of the challenges ahead. His remarks were welcomed by the cryptocurrency community and the buying pressure behind Ether skyrocketed. Now that ETH has moved past the $500 mark, there is little to no resistance ahead that will prevent it from surging towards $600-$900. Share this article Ethereum managed to slice through the $500 mark for the first time in more than two years. As speculation mounts around ETH 2.0, the buying pressure behind this altcoin is rising…