A popular cryptocurrency analyst has recently pointed to a golden cross formation on a chart of the total market capitalization of digital assets excluding the flagship cryptocurrency Bitcoin – colloquially known as altcoins – suggesting these cryptocurrencies could soon enter a bull run.https://www.cryptoglobe.com/latest/2024/01/alt-season-crypto-analyst-points-to-bullish-golden-cross-pattern-on-altcoin-market-cap-chart/
“Quantum Cats” Bitcoin NFTs was marred by technical issues, forcing the company to postpone the sale. Despite an initially successful minting of nearly 1,000 cats, server overload led to an unexpected delay, causing frustration among eager buyers.https://news.bitcoin.com/quantum-cats-launch-faces-technical-glitches-taproot-wizards-postpones-nft-sale/
After a strong uptrend that brought Bitcoin from $6,800 to $8,450 in a matter of a few days, the cryptocurrency market has started to take a massive breather. Since peaking at the key $8,400 resistance just the other day, the price of BTC has plunged by 8%, tumbling to $7,800.
The ING International Survey reveals how cryptocurrencies, such as Bitcoin, are perceived in 2018 across Europe, the USA and Australia. They define cryptocurrency, in part, as a kind of digital currency not created or secured by the government but by a network of individuals.
News about cryptocurrency has been in the headlines through 2017 and 2018. Bitcoin prices rocketed to $13,860 in December 2017 yet slid back to $6926 by March 2018 − when the responses to their survey were collected.
So it’s no surprise that two in three (66%) in Europe have heard of the technology − although higher shares of males (77%) reply that they have heard of cryptocurrency than females (55%). What is a surprise, though, is that younger age brackets − especially people aged 25–34 or 35–44 − are not much more likely to agree they have heard of cryptocurrency than other age groups. Those who already use their smartphone, tablet or wearable to bank “on the go” − the mobile bankers of our survey − are more likely to say they have heard of cryptocurrency (69%) than those who do not bank using their mobile device (59%).
I keep saying that...
The guy knows his numbers and he has not been wrong so far.
Not 100% accurate but as close as the predictions come, this guy is.
Bitcoin passed the $10K mark again on February 9, 2020. While Bitcoin started the year with a price around $7K, this corresponds to an increase of more than 40% in just 40 days.
In a year of Halving, many people quickly thought that Bitcoin was going to go up to $11K, and then to $15K, before breaking the $20K mark.
Their hopes were quickly dashed when they saw the price of Bitcoin drop back to around $9,700 just 48 hours after the $10K threshold was broken.
And then, the price of Bitcoin soared again to reach its highest level since the beginning of the year at $10,421 on February 13, 2020.
These round trips around the $10K mark therefore question many people.
Despite this growing interest, Bitcoin has yet to consolidate its price above $10K.
This implies that we’re still going to get back and forth above and below that $10K threshold.
This idea explains how you can leverage psychological support and resistance levels for trading ETH/USD. I mean, human behavior and psychology, isn't it fascinating?
Bitcoin looks like it might break 8K after all, bears haven't even touched 7K, much less anything below it.
And a consolidation seems to be forming, near 7.4K.
TradingView was always my best place to look for TA, they usually get it right, about 75% right which is far more than others.
The stars are aligning for the bulls with 30 days until Bitcoin's 'halving' and a further 6 trillion USD flying out of the Federal Reserve's printing press.
This week promises to be an important one for Bitcoin, with the BTC/USD price converging between its upper trendline resistance and the top of the blue support zone. With both levels having had a strong effect on recent price action, traders will be closely watching for a high volume breakout in one of the two directions.
Bulls may be aggressive buyers on a break of the upper trendline resistance, taking confidence from a bullish 14-day RSI trend and a strong bounce off the top of the blue support zone. With the $7,000 - $8,000 range likely to be scattered with a large quantity of short-side stop losses, moves into this zone may be met with a flurry of market bidding.
Bears are likely to be aggressive shorters at current levels, taking confidence from recent rallies having failed to break the upper trend line resistance twice this month.
Momentum traders will be closely watching the 38-40 level on the 14-day RSI, a break of which would signal a weakening of the momentum in Bitcoin's bounce off recent panic lows.
Traders should be on high alert for increased volatility this month as we approach Bitcoin's block reward halving, including any opportunities that might arise from further panic-driven price action.
After testing the waters above $250 on 11th June 11:00 UTC, Ethereum faced a drastic turn of events, that might not have appeased its proponents. In a period of 14-hours, Ethereum’s valuation dropped all the way down to $225 from $251.
The estimated depreciation was close to 10 percent, which is its largest pullback in June. Due to an established presence of buying pressure, the token was able to rally back above $230, and its current valuation stood at $235.
There are a couple of things that are imperative to Ethereum’s movement over the next 24-48 hours. Firstly, the 10 percent depreciation suffered yesterday was Ethereum’s first breach below support $233 in June. The largest altcoin has been able to deal with short-term adversity in the month, as a bearish breakout from a symmetrical triangle also did not shave much of Ethereum’s value.
Now, for a majority of the month, Ethereum has exhibited navigation above the $240 mark (bullish trading zone) but the recent collapse led to ETH plummeting all the way down to $225. Now, the lower range position was extremely short-lived as the bulls were able to drive the price back above $235 at press time.
For Ethereum to maintain its bullish propagation, a breach above $240 within the next 24-hours is highly essential. Considering the asset is able to surge above the immediate resistance, it would be fair to say Ethereum’s bullish momentum escaped the short-term onslaught.
Technicalanalysis of DAX, DJIA, Gold, Ripple, NZDCAD, USDCAD, GBPJPY, EURUSD with Darius Anucauskas.
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How to Trade – Bitcoin Cash Price Analysis
Bitcoin Cash has also participated in the rally that has pushed the price to the top of the $280-$200 range for the first time since early-May. This suggests that the bulls have been buying at every higher level in the past week.
eteran trader with more than 40 years of trading experience, Peter Brandt, has recently aired what he has to say regarding the price trend of Bitcoin. There, he stressed the reasons to believe that the current correction in Bitcoin could hold.
Bitcoin, the largest cryptocurrency by market capitalization, has not had outstanding performance in terms of price trend since its last bullishness. The digital currency, due to its sovereignty in the market, led virtually all other digital tokens into a price uptrend that seemed unstoppable.
But only retained its position above $9,000 resistance for a couple of hours on two occasions, before embarking on its usual price retracement it presently maintains.
Continue reading: https://newslogical.com/reasons-to-believe-current-correction-in-bitcoin-could-hold-peter-brandt/
Bitcoin is inching closer to the $11.8k resistance level.
Will it break through? What do you think??
Another Pomp podcast and Bitcoin price analysis