Are The Rising Oil Prices Bullish Or Bearish For The Bitcoin Price?
The ongoing tensions in the Middle East continue to put immense pressure on Bitcoin and other risk assets. As investor sentiments turn increasingly cautious, analysts are weighing the potential impact of rising oil prices on Bitcoin. The overall outlook is not looking good, with projections suggesting further downside for the leading cryptocurrency. A clearer path to recovery may only appear if regional tensions ease. Surging Oil Prices Could See Bitcoin Crash Harder Market analysts have shared their thoughts and concerns with The Block about the ongoing US-Iran war and its impact on....
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When we entered the April 6th session, we saw bitcoin in multiple bullish breakouts since the end of last week. We also saw that despite these bullish signs in the 1H chart, the technical picture in the 4H chart was still bearish and offered a falling trendline to challenge the bullish attempts. Let's follow up on the technical developments in both time-frames. Bitcoin (BTCUSD) 1H Chart April 7. As we begin the April 7 session, we can see that bitcoin failed to extend above 262. Here are some observations, bullish vs. bearish: Bullish:1) Price is still holding above the 200-, 100-, and....
Cardano (ADA) prices show that the bulls are trying to overpower the market to diminish the bearish trend. ADA prices have been lingering steadily at $0.5, and a rejection strung at $0.628. More so, there has been a marked price decline of 7% in the market seen the previous days as the bearish trend takes over. The current market trading level is now at $0.524, which is pivotal as there seems to be a power struggle between the bulls and the bears. Suggested Reading | Avalanche Crumbles More Than 16% As Crypto Landslide Continues Support At $0.50; Bulls Try To Up Market Prices Support....
Bitcoin price continued rising, emphasizing the bullish wave that started earlier this week. Yesterday, the price pushed upwards until it touched the $256 resistance line. The price reached a high of around $259 yesterday, before falling to $249 at the time of writing of this article. Basic and technical analyses are in favor of continuation of the bullish trend to push the price even higher. By studying the 1 day Bitfinex (BTC/USD) charts from tradingview.com, we can notice a reversal of the bearish trend on the 14th of January. By plotting the Relative Strength Index (RSI) on the same....
According to data from CoinMarketCap, XRP recorded a substantial price decline in the past trading week losing 16.78% of its market value. Currently, the prominent altcoin finds itself in a consolidation zone potentially gathering momentum for its next breakout. Related Reading: Dogecoin Price To $1, XRP To $6, And Solana To $1,000? Pundit Says You’re Not Bullish Enough XRP Price At Crucial Juncture In a recent X post, popular digital asset expert Egrag Crypto shared a technical analysis of the XRP market presenting both possible bullish and bearish scenarios. This analysis was based on....
Bitcoin price advanced to around $240 today after we spotted a bullish wave which started yesterday. Today's bitcoin price increase is highly considerable given the bearish wave that has been dominating the market throughout the past 2 weeks. By studying the 1 hour Bitfinex (BTC/USD) charts from tradingview.com (look at the below charts), we can notice that today's trading led to a repetitive pattern of candlesticks. 3-5 green bullish candlesticks followed by 2-3 red bearish candlesticks which is a pattern that has been pushing the price upwards earlier today. Each bullish wave is followed....