Analyst Spots Trend Suggesting Incoming Monster Bitcoin Rally – CCN Markets

An analyst found that major downturns tend to be healthy for the overall bitcoin price trend. Another analyst explains that 2019 may be a good year for BTC. | Source: Shutterstock Many armchair traders are so focused on the short-term price movement of bitcoin that they forget to look at the big picture. For instance, the widely-followed analyst cryptoamd is expecting the dominant cryptocurrency to dump below $10,000 and then be tapping resistance of $10,500. That’s the trader’s short-term view on the digital asset. Short term outlook on $btc pic.twitter.com/luHSJBqMgw…

Bitcoin Market Turns Indecisive After Price Rally Stalls Around $10.6K

View Bitcoin created a “spinning-top” candle on Wednesday, pouring cold water over the optimism generated by the triangle breakout witnessed earlier this week. The spinning top has made today’s UTC close pivotal. A close above Wednesday’s high of $10,834 is needed for the continuation of the recent rally. A UTC close below the spinning top’s low of $10,378 would shift risk in favor of deeper losses below $10,000. A bearish daily close shouldn’t be ruled out, as the spinning top represents buyer exhaustion. The bitcoin (BTC) market is looking indecisive,…

Bitcoin (BTC) Price Flirts With Key Resistance After Recent Rally

Bitcoin price climbed higher sharply above $10,200 and gained around 5% against the US Dollar. The price is clearly struggling to gain strength above the key $10,500 resistance area. There was a break above a key bearish trend line with resistance near $10,270 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is correcting gains and it is testing the broken trend line and the $10,250 support. Bitcoin price is showing signs of a decent recovery above $10,200 against the US Dollar. However, BTC is…

Tezos Beats Bitcoin in Latest Price Rally, Up 44% This Week

Tezos (XTZ) is proving to be a better near-term investment than bitcoin this week. The altcoin, accompanied by favorable fundamentals, has surged by 44 percent in the last four days as it looks to close the week at an even higher rate. As of 12:29 UTC, the XTZ/USD instrument was trading at 1.452, up 3.71 percent in the last 24 hours. The move upside brought Tezos market capitalization to circa $962 million, which makes 0.40 percent of the entire cryptocurrency market valuation. At its highest, the cap was around $1.457…

Amid Bitcoin Price Drop, Crypto Analyst Foresees Sustained Rally

The bitcoin price cratered this weekend, but the bull market is just getting started. That’s the assessment of crypto blogger Willy Woo, who says the downturn is merely a transitional phase before things start heating up again. ‘Long, sustainable bull drive’ to 2020 Woo, a partner at cryptocurrency hedge fund Adaptive Capital, says the latest market drop is laying the foundation for a sustained rally. “Fomo complete, stage set,” he tweeted. “Stage 1 of the bull market is completing. Once we bottom, stage 2 begins, promising the long sustainable bull…

Bitcoin Price Recovers 20% to Break $11,000; Pullback Done, Huge Rally Next?

Within a week, from June 26 to July 2, the bitcoin price fell from $13,868 to $9,651, recording a 30 percent pullback against the U.S. dollar. Technical analysts have expressed optimism towards the swift recovery of bitcoin from a large pullback as the dominant crypto asset has shown a change in trend within a short time frame. A big pullback for bitcoin is often followed by a rally According to Josh Rager, a cryptocurrency technical analyst, when the bitcoin price experiences a steep correction, it is often followed by a…

Ethereum Classic (ETC) Shaky But Atlantis May Spur A Rally To $25

Ethereum Classic (ETC) down 7.8 percent Atlantis may prime ETC bulls aiming at $25 By syncing with other assets, ETC gains were decent. At a precipice, there must be upswings above $10 to reaffirm the presence of buyers ahead of September 2019 Atlantis upgrade. Ethereum Classic Price Analysis Fundamentals Like Ethereum, Ethereum Classic retained smart contracting capabilities and immutability. Following the Decentralized Autonomous Organization (DAO) hack, Vitalik and team forced a split. Meanwhile, Charles Hoskinson, and purists of blockchain principles, rejected tweaks to recover the lost millions. All the same,…

What Disney’s Frozen Tells Us About This Mammoth Bitcoin Price Rally

 As the Great Bitcoin Price Rally of 2019 grows even more parabolic, investors and analysts alike are left scrambling for answers. What’s triggering the mammoth recovery? Will this rally end like the 2017 bubble did? Most importantly, where’s the bitcoin price headed next? According to eToro Senior Market Analyst Mati Greenspan, the answer might lie in an unlikely place: Disney’s blockbuster animated feature film “Frozen.” Crypto Analyst: Investors Need to Rewatch ‘Frozen’ Writing in daily market commentary made available to CCN, Greenspan warned that the speed of the bitcoin price’s…

Why Analysts Think Bitcoin (BTC) Will Rally to $11,500 But Fall to $8,300

Bitcoin (BTC) has been on an absolute tear as of late. After wallowing under $8,000 a few weeks back, the cryptocurrency has embarked on yet another rally, quickly moving past $9,000, to $10,800, where it stands as of the time of writing this. With this, BTC is up over 20% within a week’s time, marking one of the best weekly performances seen this year. While BTC has shown signs of temporary weakness, as made evident by rejection at the $11,200 mark and a rapid sell-off to $10,300, some suggest that…

Tether and Search Engine Data Reveals China Fueling Bitcoin Rally

By CCN Markets: Over the past three months, the bitcoin price has risen from $3,911 to $8,120 against the U.S. dollar on major crypto exchanges, demonstrating strong momentum supplemented with a clear rise in volume. The bitcoin price is up nearly three-fold in the past three months (source: coinmarketcap.com) In recent weeks, the interest towards bitcoin on Baidu, the most widely utilized search engine in China, spiked significantly to 2018 levels, which could potentially indicate an increase in the demand for the asset by retail investors. Tether volume similarly indicates…