Bitcoin Hits $9,400 In Vertical Rally, But It’s At Risk of A Violent Pullback For This Key Reason

Bitcoin extended its rally above the $9,200 resistance against the US Dollar. BTC tagged the $9,400 area and now it could correct lower towards $8,800 or $8,500. Bitcoin price is approaching a couple of key resistances near $9,500 against the US Dollar. There could be a short term downside correction from $9,400 or $9,500 in the coming sessions. Yesterday’s major bullish trend line is still active with support near $9,040 on the hourly chart of the BTC/USD pair (data feed from Kraken). Ethereum is lagging, but it could rally if…

This Key Market’s Upsurge Shows How Fragile The Dow Jones Really Is

The Dow Jones Industrial Average (DJIA) opened in positive territory this Tuesday after plunging by 2.38 percent in the last two daily sessions. The index bounced by 0.54 percent, or 153.4 points, shortly after the opening bell, its gains led by tech stocks. Apple and Intel both registered early-morning profits after rising 1.4 and 1.3 percent, respectively. 3M (MMM) plunged 4.1 percent after posting weaken-than-expected four-quarter data and revealing details of a restructural plan that would sack 1,500 employees. Dow also held back profits due to weaker performance of other…

This Scenario Will Trigger A Larger Ethereum Rally: Key Levels To Watch

Ethereum gained momentum and broke the key $170 resistance and bitcoin rallied above $9,000. ETH price seems to be forming a larger trend and it could even clear $180. There were decent bullish moves in Ethereum above the $165 and $170 levels against the US Dollar. The price is up around 4% and it is likely to climb towards the $180 resistance. There is a key bullish trend line forming with support near $170 on the hourly chart of ETH/USD (data feed via Kraken). There could be a larger rally…

Bitcoin Price Breaks Through Key Resistance as Traders Target $9.2K

Bitcoin daily price chart. Source: Coin360 Bitcoin (BTC) bulls appear to have found a second wind which allowed them to push the price above $9,000 to daily high at $9,150.  As discussed in an earlier analysis, bulls had been fighting to hold the price above $8,800 throughout the day and multiple attempts at knocking out the $9K mark were held back by $8,963 and $8,985.  BTC USD 6-hour chart. Source: TradingView Traders will now look for Bitcoin to sustain above $9,118.85 in order to flip the $9,100 to $9,200 zone…

Ethereum Hesitates But Further Losses Seem Likely: Key Levels To Watch

Ethereum is down more than 10% from the 2020 high against the US Dollar, similar to bitcoin. ETH price is likely to test the $148 support area before a fresh increase. ETH price is currently correcting lower from the $179 swing high against the US Dollar. The price is showing a few bearish signs and it might decline below the $158 support. There is a major contracting triangle forming with support near $158 on the 4-hours chart of ETH/USD (data feed via Kraken). The pair could either rally again above…

Your PGP Key? Make Sure It’s Up to Date

Identity thieves now have another tool at their disposal: bitcoin hashing power.  That’s the conclusion from a new cryptanalysis paper published earlier this month on SHA-1 (pronounced “shaw”), a once-popular hash function created by the National Security Agency and disapproved in the mid-2000s after failing against theoretical hack attacks. SHA-1 continues to see use in certain circles, such as on source code program Git and other legacy products for sending secure transmissions on computers, according to Gaetan Leurent of France’s National Institute for Research in Digital Science and Technology and…

Bitcoin Just Saw A Key Technical Breakout: Big Reaction From Bulls Imminent

Bitcoin reversed after a sharp dip towards the $8,400 support area against the US Dollar. BTC price is now signaling more upsides above $8,800 and $9,000 in the coming sessions. Bitcoin price bounced sharply and formed a bullish engulfing pattern above $8,550 against the US Dollar. The bulls are likely to take control once the price surpasses the $8,800 resistance area. There was a break above a key declining channel with resistance near $8,665 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might dip…

The Key Indicator That Led Massive Bitcoin Upsurge to $13.8K Just Blinked Again

A long-term bitcoin price resistance has flipped to become support for what appears to be a potential bullish action. The 50-weekly moving average (50-SMA), which measures the average of bitcoin prices over a 50-week period, looks to assume the role of a strong pullback level. The year’s first week marked the first time price closed above the technical indicator since late-April, as shown in the chart below. Bitcoin looks to continue price rally above blacked support wave | Source: TradingView.com, Coinbase A crossover above the 50-SMA earlier in April pushed…

Ethereum Can Reach a Trillion Dollar Market Cap, But There is a Key Roadblock

Ryan Sean Adams, founder at Mythos Capital, made a case for a trillion dollar Ethereum market cap. And it’s all about decentralized finance (DeFi). DeFi refers to decentralized applications or platforms that allow investors to engage in traditional financial services by using Ethereum as collateral. Users can receive loans, trade derivatives, make payments, and more in a peer-to-peer manner without centralized entities. The trillion dollar case for ETH A bullish case for ETH as economic bandwidth powering a trustless economyhttps://t.co/fbzClLCAVi@0x_Lucas crushed it on this thought experiment Thread: — Ryan Sean…

Bears Beware: Ripple Uptrend Far From Over, Here Are Key Supports To Watch

Ripple extended its rise above the $0.2450 resistance against the US Dollar, similar to bitcoin above $8,800. XRP price topped near the $0.2540 area and recently corrected lower. Ripple price is down more than 6% and broke the $0.2400 support against the US dollar. The price is now trading below $0.2350, but there are many key supports on the downside. There was a break below a major bullish trend line with support near $0.2370 on the hourly chart of the XRP/USD pair (data source from Kraken). The pair could decline…