Is Bitcoin Bull Run Back? Daily RSI Shows Only Mild Bullish Momentum
The price of Bitcoin has been on quite the run since mid-April, finding its way from beneath the $85,000 mark to as high as $104,700 over the past month. The largest cryptocurrency market enjoyed a positive shift in investor sentiment and a fresh influx of capital, especially through the BTC exchange-traded funds (ETFs). Interestingly, the premier cryptocurrency seems to be showing some signs of fatigue, especially after failing to break out of the $102,000 – $105,000 consolidation range over the past week. This sluggish round of price action has called into question the authenticity....
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ADA has been reacting to the upside after its latest network upgrade. It recently went over its $1 hard-to-cross barrier to $1,191, but saw a retracement. A pattern that could mean an extremely bullish momentum for the coin could still play out. Related Reading | Cardano Completes Network Upgrade, ADA Reacts To The Upside ADA’s Up and Downs The seventh-largest cryptocurrency is trading at $1,09 at the moment of writing. A retracement from its near $1,2 mark. A pseudonym trader expects a mild bearish continuation during the weekend followed by a bullish rebound. They noted that....
In this episode of NewsBTC’s daily technical analysis videos, we examine the reason for today’s volatility and rally rejection. We also look ahead at the factors that could give Bitcoin price a green October. Take a look at the video below: VIDEO: Bitcoin Price Analysis (BTCUSD): September 27, 2022 This morning, Bitcoin began with a large, more than 5% move to the upside, taking the top cryptocurrency to back over $20,000. Before bulls could at all breath a sigh of relief, bears swatted the rally back down a full thousand plus dollars to just under $19,000. Related Reading:....
The past 24 hours have seen bullish momentum return to XRP, with the cryptocurrency now reclaiming the $2.5 price level. This bullish momentum comes after a seven-day stretch of range consolidation between resistance at $2.5 and support at $2.3. Despite this consolidation of the price, technical analysis shows that XRP is still trading in a bullish setup, especially on the daily candlestick timeframe. Notably, this bullish setup shows that the XRP price is about to make a new all-time high run to $5. Bullish RSI Divergence And Strong Support Set The Stage Technical analysis of the XRP....
Bitcoin price is back at $48,000 and with the most recent weekly close, momentum has flipped bullish for the very first time this year. With the momentum now behind bulls, what might this mean for the cryptocurrency market in the weeks and months ahead? The MACD And Bullish Weekly Bitcoin Momentum Markets are always seeking equilibrium. When a large move materializes, the same momentum that carried an asset upward, pulls it downward when the trend begins to topple. This makes momentum among the most important factors in determining if and when a trend might change. Related Reading |....
Despite Bitcoin reaching new highs, the BTC SOPR data may suggest current market activity resembles that of an early bull run. Bitcoin SOPR Shows Profit Taking Is Mild Despite New ATH As per the latest weekly report from Glassnode, the BTC SOPR shows that the current profit taking behavior of the market is mild, even though the crypto just reached new highs. The Spent Output Profit Ratio (or the SOPR in short) is a Bitcoin indicator that highlights whether holders as a whole are currently selling at a profit or not. The metric’s value is calculated by taking the ratio between the....