Bitcoin’s consolidation channel formed since the start of May has been narrowing ever since it was first established. The cryptocurrency is now trading sideways between $9,000 and $9,300, facing immense resistance at the upper boundary of this range. From a fundamental perspective, the benchmark digital asset has been seeing stagnating market health, with this being…
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If you have read Satoshi Nakamoto’s original white paper on Bitcoin, the likely takeaway is that BTC is a currency. Take the following excerpt from the conclusion of the white paper. “We have proposed a system for electronic transactions without relying on trust. We started with the usual framework of coins made from digital signatures,…
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Bitcoin started a steady increase and broke the $9,300 resistance against the US Dollar. BTC is currently up close to 3% and it might continue to rise towards the $9,500 resistance. Bitcoin is gaining momentum and it recently broke the $9,300 resistance zone. The price traded to a new weekly high at $9,372 and settled…
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Ethereum rallied recently above the $235 resistance region against the US Dollar. ETH is currently correcting gains, but the $230 support might act as a strong buy zone. Ethereum is trading in a positive zone above the $230 and $232 levels. The price rallied above the $240 level and it is currently correcting gains from…
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Even after a healthy rally from $9,000 to a local high of $9,400, Bitcoin remains in no man’s land. The cryptocurrency is caught below $9,500 and caught above $8,500, both important levels on a medium-term time frame. Bitcoin may seem directionless as a result, as it is still anyone’s guess as to which way this…
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Bitcoin price pulled back in the early trading session Tuesday after logging a strong opening for the weekend a day before. The corrective action appeared as the rising number of COVID cases in the US prompted the Federal Reserve to make a stark warning. The central bank said the trajectory of the US’s economic recovery…
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Bitcoin dominance has been caught in a descending channel since May when it reached 69%. At present, BTC represents 64.9% of the total cryptocurrency market cap, a 10-week low. Bitcoin dominance year to date. (Source: tradingview.com) The end of last month saw the start of a sharp down leg, which has had the effect of…
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Bitcoin SV, the controversial blockchain token promoted by Craig Wright, has surged by 21 percent in just two days. The wild price rally surfaced as Bitcoin, the leading cryptocurrency token, jumped above $9,300 after a week of rangebound action. Nevertheless, the extent of Bitcoin SV’s rise surprised, given the move had no solid catalysts backing…
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Ethereum is struggling to clear the $230 resistance level against the US Dollar. ETH price is showing positive signs and it seems like a close above the 100 SMA (H4) could trigger a fresh rally. ETH price is slowly moving higher towards the $230 resistance against the US Dollar. A close above the 100 simple…
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Bitcoin is still holding the $9,000 support zone against the US Dollar. BTC is now approaching a crucial juncture and it could either rally above $9,200 or start a sharp decline below $9,000. Bitcoin is trading below a couple of important hurdles near $9,200 and $9,220. The price seems to be forming a strong support…
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