Technical Flags Scream ‘Buy!’ as Market Nears Key Level

Bitcoin continues to grind higher, and on Monday the flagship cryptocurrency hit its highest level in 2019. Many investors are stuck in the past looking at the wild volatility brought on by excessive speculation, and ignoring that right here right now, the Bitcoin price is showing maturity and stability – and could be primed for a major boom. Bloomberg reported that a popular technical indicator is now screaming buy after the last signal it generated prompted a 17% rally. Bitcoin’s GTI VERA Convergence Divergence Indicator is screaming “buy!” | Source:…

Key Technical Indicator Shows BTC Surging to $5,500

Throughout the past three months, the bitcoin price has flirted with the $4,200 resistance level, often struggling to maintain momentum above the key $4,000 mark. Several traders have demonstrated concerns over the extended period of stability demonstrated by bitcoin because, in late 2018, the cryptocurrency recorded a drop of around 50 percent following three months of stagnation in the $6,300 to $6,500 range. However, a cryptocurrency technical analyst known to the community as “Galaxy” has said that once bitcoin breaks out of a key resistance level above $4,000, it could…

Bitcoin Rages Bullish in Technical Indicators For the First Time Since 2017

In recent months, the substantial increase in the daily volume of bitcoin and the rest of the cryptocurrency market has led analysts to suggest that the overall trading activity in the market is rising. While some stated that the minimal impact on the bitcoin price despite the large movements of alternative cryptocurrencies show a small inflow of capital into the crypto market, the general sentiment regarding the asset class has improved. Join CCN for $9.99 per month and get an ad-free version of CCN including discounts for future events and…

BTC Fundamental and Technical Indicators Diverge

Bitcoin price trading within tight ranges Adoption picking up, positive for BTC in the long-term Transactional volume dropping It’s all about adoption. Luckily, metrics point to increasing participation, a development which is bullish for BTC in the long term. Before we initiate longs, BTC/USD is technically bearish. The position will change after there are substantial gains above $3,800. Latest Bitcoin News Fundamentals Traders, as well as investors, are neck deep in bear territory. However, there is something special about this correction: there is a level of resilience among coin holders.…

Binance’s BitTorrent Token Sale Sells Out in Minutes Amid Technical Issues

A public sale of 59.8 billion BitTorrent Tokens (BTT), worth roughly $7.2 million, sold out in a matter of minutes on Binance’s Launchpad earlier today, despite technical difficulties that frustrated some users. At 3:00 UTC, the token sale platform opened its doors to BTT investors through two separate sale sessions, one for those paying with the token native to the Tron blockchain, TRX, and the other for those paying with Binance’s native exchange token, BNB. Each BTT token was valued at $0.00012 during the sales, according to sale information posted…

Bitcoin Price Technical Analysis: BTC/USD Extends Consolidation Action

The Bitcoin’s sideways action is gaining strength in what has so far been a quiet month. However, the digital currency, unlike its mainstream cousins, is displaying adequate volatility for day traders to enter and exit positions on attractive intraday profits. The focus remains firmly on the Securities and Exchange Commission’s take on the nine Bitcoin ETF applications it has received. Speculators believe the US regulator would eventually approve one of these drafts. The factor alone could be influencing traders to hold their aggressive short entries. Significant monies are not going…

Technical Indicators Recommend ETH Sells

Though liquidity is building, there are limitations for further upsides as ETH consolidates. Unless there are rallies above Sep highs and $250, our previous Ethereum trading plan is valid. For now, we recommend taking a neutral stand until our ETH trade conditions are met. Latest Ethereum News DEXs are not as common as their centralized counterparts. Though exchanges as BitFinex are seeing benefits of spreading out and capturing demands on both ends, it will take time before ETHFinex registers high trading volumes. It’s in this realization that BitFinex are promoting…

Bitcoin Price Technical Analysis: BTC/USD Confirms Inverse H&S

Bitcoin on Wednesday rose over 3.5 percent against the US Dollar on a bounce back from previous day’s low towards $6,330. The BTC/USD on 1H timeframe has just confirmed the completion of an inverse Head & Shoulder (IH&S) pattern with neckline situated near 6500-6515-fiat area. A buy stop order above the neckline has brought us a decent profit already. We are now in a breakout phase which traditionally has a probability of being false in case of an IH&S pattern. Waiting for a retrace could be ideal at this point of…

Various Technical Indicators are Showing Bitcoin is Severely Oversold

Williams %R, a technical analysis oscillator that demonstrates oversold or overbought conditions of an asset, is demonstrating highly oversold conditions for Bitcoin. As Olga Kharif at Bloomberg reported, the Williams Percent Range (WPR) of Bitcoin is hovering at around -83 percent. In WPR, -80 to -100 percent is considered oversold and -0 to -20 percent is oversold. Analysts state that the oversold condition of Bitcoin demonstrated by WPR could lead to a short-term corrective rally in the future, which may enable Bitcoin to break out of a major resistance level…

Bitcoin Price Technical Analysis: BTC/USD Hinting Breakdown Action

Bitcoin price on Wednesday recorded a marginal drop of 0.25 percent against a strong U.S. dollar. The BTC/USD today stayed on its prevailing sideways trend, exhibiting intrarange fluctuations of just around $100. The pair began the Asian trading session sheepishly, forming lower highs towards 6308-fiat and lower lows towards 6219-fiat. The sideways sentiment continued as the pair headed into the European session. The Bitcoin market generally suggested an equivalency between supply and demand. Traditionally, the period of consolidation should continue until a breakout/breakdown action gives it away. BTC/USD Technical Analysis…