Analysts say Bitcoin’s behavior at $47.5K mirrors the pre-breakout 2017 market
Bitcoin price succumbed to another wave of selling, but analysts say the current market structure at $47,500 mirrors the early bull-market from 2017. Crypto markets tanked again after Bitcoin (BTC) price slipped to $47,500 on Dec. 9, but most analysts agree that the price is destined to remain in the $40,000 to $55,000 range until the holiday season has passed.BTC/USDT 4-hour chart. Source: TradingViewData from Cointelegraph Markets Pro and TradingView shows that the early morning defense of the $50,000 support level was overwhelmed by sellers and according to independent market analyst....
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Bitcoin's market cap to thermocap ratio is primed to repeat bullish behavior, analysis from Stack Funds says. Bitcoin (BTC) investors have “not long” to accumulate before a continuation of the bull run past $20,000, a new report says.Released on Dec. 10, the Weekly Report from Asian crypto fund provider Stack Funds predicts that one indicator in particular will follow historical precedent and propel Bitcoin higher.Report: You can buy BTC, but "not for long"According to Slack, the market cap to thermo cap ratio (MCTC) is showing signs of repeating its performance in 2017, the year in which....
Bitcoin is in full bull run mode according to trading analysts, as on-chain indicators look promising, but the rest of 2021 could be full of surprises. Bitcoin’s (BTC) recent rally has finally broken through to reach widely anticipated new all-time highs. With September being left behind and “Uptober” delivering on high hopes, many analysts are increasingly confident that the year will play out in the same way as 2017. In fact, a recent tweet from crypto analyst TechDev shows just how closely the price chart for 2021 is tracking 2017, and it’s startlingly close. But can a continuing upward....
Bitcoin is inching closer to the $100,000 milestone, continuing a steady upward trend that has characterized its recent market behavior. As of the time of writing, the asset is trading at approximately $96,091, marking a 3.6% increase over the past week. This sustained climb follows a correction seen in early April and suggests that the broader market remains engaged, with momentum gradually building. As price action intensifies, analysts are increasingly focused on the indicators shaping short- to mid-term expectations. Among them is CryptoQuant contributor Axel Adler Jr., who recently....
Bitcoin volatility is not at the same level seen during the 2017 bull run but analysts still say lower price swings are necessary to maintain upward momentum. Bitcoin (BTC) has hit a new high above $51,300 in a continuation of its bullish advance that begun in October 2020.According to Bloomberg, the current run is different from the 2017 bull rally that topped out below $20,000 in terms of volatility.Indeed, data from Woobull Charts puts Bitcoin’s 60-day volatility at 14.25%, a significant decline from the over 32% recorded at the zenith of the 2017 bull run.Bitcoin 60-day Volatility.....
After an extended period of consolidation that provided little insight into Bitcoin’s near-term outlook, the cryptocurrency was able to post a breakout rally that has since sent its price surge towards $11,700. This move carried significant weight, as it took place in the absence of an uptrend seen by the traditional market. Analysts are now […]