Paul Tudor Jones Bitcoin fractal hints at possible explosive BTC rally

Based on the fractal, Bitcoin is in an early phase of a prolonged rally that could allow BTC to experience exponential growth in the longer term. Bitcoin versus gold price fractal. Source: Bloomberg Bitcoin may be on the same trajectory as gold There are two main reasons why Bitcoin could follow the macro trend gold saw from the 1970s. First, BTC has a fixed supply that cannot expand, which makes it an attractive hedge against inflation. Second, BTC has the same qualities of a safe-haven asset that gold has. In…

Bitcoin relief rally is underway — Can BTC price reclaim $18K?

Bitcoin (BTC) price dropped severely in the previous week, falling from $19,500 to $16,000. Corrections never occur smoothly as dropdowns are frequently sudden and painful. The recent correction isn’t much different as the drop occurred in a matter of hours.  Since then, Bitcoin’s price consolidated above $16,000, which marked a temporary bottom. The primary question is whether the correction is over or not. A determining factor will be whether or not BTC price can reclaim the crucial levels that will support further upward momentum. Bitcoin is in the middle of…

3 reasons traders now expect Bitcoin hitting $13K before a new rally

The price of Bitcoin (BTC) has been consolidating above $17,000 on Nov. 28 following a major correction from $19,400. In the near term, traders anticipate the dominant cryptocurrency to see another steep pullback. There are three main reasons why traders expect a deeper drop to occur in the near future, namely,  historical cycles, the Fibonacci Sequence, and the record-high open interest of the futures market. BTC/USDT 4-hour chart (Binance). Source: TradingView.com Historical cycles hint at deeper BTC correction BTC price frequently saw 20% to 30% drops in past bull markets…

How A Double Bottom Could Restart Bitcoin Rally Above 17.5k

Bitcoin price declined heavily, but it found support near $16,300 against the US Dollar. BTC is likely forming a double bottom pattern and it could rally if it clears $17,500. Bitcoin is holding the $16,300 support zone and trading above $17,000. The price is facing a strong resistance near $17,500 and it is well below the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $17,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). A possible double bottom pattern…

Bitcoin Liquidation Data Suggest Recent Crypto Rally Wasn’t Driven by Retail Buyers

It has been a rough past few days for Bitcoin and the entire crypto market. Following BTC’s tests of its all-time highs in the mid-$19,000 region, the benchmark digital asset faced a massive influx of selling pressure. However, this was expected, and most investors didn’t believe that it was enough to spark any long-lasting correction. However, recent comments from Treasury Secretary Steve Mnuchin regarding a potential second eave of crypto regulations caused BTC to see a sustained move lower that shows few signs of slowing down anytime soon. If this…

Bitcoin must now reclaim these price levels to resume its rally to $20K

Bitcoin (BTC) has been seeing significant momentum in previous weeks as its price was approaching the precious $20,000 all-time high. However, an abrupt end came to this glorious rally, with Bitcoin price crashing severely over the past 24 hours. Cryptocurrency market, 1-day performance. Source: Coin360 While most investors were celebrating a potential new all-time high, the price of Bitcoin dropped from $19,500 to $16,300, a drop of 15% in less than 24 hours. The majority of the crypto markets also followed suit with alts in the deep red across the…

Stellar Lumens’ 170% Bull Rally May Have Just Run Out of Steam

Key Takeaways Stellar surged more than 170% in the past week to hit a new yearly high of $0.23. Crypto enthusiasts seem to be growing overwhelmingly bullish about the recent price action, suggesting that a correction is underway. If sell orders begin to pile up, XLM could drop towards $0.13. Share this article Altcoin traders have waxed bullish about Stellar Lumens since its native token XLM skyrocketed more than 170% in the past week. However, multiple technical indicators suggest caution. Stellar Lumens Explodes as Investors Grow Bullish Stellar Lumens’ social…

Ripple (XRP) Consolidates, Why It Could Rally Again To $0.75

Ripple rallied significantly above $0.6000 and $0.7000 before correcting lower against the US Dollar. XRP price is now consolidating above $0.6200 and eyeing the next crucial break. Ripple started a strong rally after it settled above the $0.3000 resistance against the US dollar. The price tested the $0.7500 resistance and settled well above the 100 simple moving average (4-hours). There is a major contracting triangle forming with resistance near $0.7000 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair could start a fresh rally once…

Verge, Dash, and Status Follow XRP Higher Amid Absurd Crypto Rally

The crypto market is in a phase where altcoins from the previous rally, 2017’s bull market, are absolutely ripping faces off. While Bitcoin is up 5% in the past 24 hours, there are a series of these altcoins that have gained dozens of percent over the past day. These include but are not limited to Verge, Status, Dash, XRP, Stellar Lumens, and many more. Many have been caught off guard by this rally: a few days ago, the narrative was that DeFi cryptos such as YFI and AAVE would be…

Parabolic rally ‘a real possibility’ after Ethereum price surges to $547

The price of Ether (ETH), the native cryptocurrency of Ethereum, has surpassed $547. Following the breakout, traders are pinpointing several key resistance levels in the near term. In the short term, traders generally foresee $600 as the major resistance area for Ether as it marked the beginning of a bearish trend starting in May 2018. As such, $600 could act as an area of interest for sellers. But, traders also believe that if Ether surpasses $600, it would likely enter the $700 to $900 range. Above it, there is little…