Bitcoin hits new 2020 high at $16.7K —Traders expect bigger breakout
Bitcoin price hit a new 2020 high at $16,765, and traders expect a much larger rally to occur in the near term. The price of Bitcoin (BTC) hit a new yearly high at $16,717 on Binance. Following the breakout, traders expect a larger rally to occur in the near term.There are several reasons why analysts expect a prolonged uptrend. First, Bitcoin cleanly broke out of $16,000, taking out the $16,473 peak achieved on Nov. 13. Second, there is a “sell-side crisis” brewing as more BTC gets accumulated than mined. Third, BTC rallied despite indicators showing overbought signals.BTC/USD 1-hour....
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A few Bitcoin traders expect now expect a deeper correction but data suggests that a relief rally toward $18,000 should not be ruled out. 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:....
Dogecoin jumped back into the spotlight on Monday after fresh price calls from market commentators and a clear technical move on charts. Related Reading: Dogecoin Breaks Out With A 32% Surge: Time To Buy Or Too Late To Chase? According to Ali Martinez, the meme token could head as high as $0.45, a level last seen at the end of 2021. DOGE was trading at around $0.29, more than 5% higher than it was yesterday, and traders are watching whether now-support at $0.27 holds. Technical Breakout And Volume Spike Trading activity around the breakout caught attention. Based on reports, DOGE pushed....
Bulls pushed Bitcoin price to $18,000 but analysts still expect a ‘shallow’ correction before a new all-time high. Bitcoin (BTC) just set another 2020 high by rallying above $18,000 for the first time in three years.On Nov. 17 BTC price rallied to $17,858 after a high volume surge pushed the price cleanly through the $17,100 to $17,300 range that many analysts believed would be a strong resistance level. According to Decentrader co-founder, filbfilb, Bitcoin price could continue to march higher in the short-term if key underlying supports hold. BTC/USD daily chart. Source: TradingViewThe....
Bitcoin has surged to a new all-time high, reaching $126,000, before entering a short consolidation phase as traders await confirmation of a breakout into uncharted territory. The move marks another milestone in Bitcoin’s relentless uptrend, fueled by optimism across both institutional and retail segments. However, the market now faces a critical test — whether bulls […]
Following Bitcoin’s bullish move, Ethereum price rallied to $447 and now traders anticipate an uptrend toward $500 and beyond. On Nov. 6, Ether (ETH) price rose to $447 on Binance as Bitcoin (BTC) price pulled back to the $15,500 level after losing steam around $15,900. Based on Ether's strong momentum, traders anticipate a broader rally to emerge in the near term.There are three potential reasons why Ether could see a large uptrend in the upcoming weeks. The catalysts are an optimistic high time frame technical structure, favorable on-chain metrics, and the launch of ETH 2.0.ETH is....