Financial Industry News
Bitcoin bulls should prepare for another rally-like upside move, says an independent analyst. Bull Wedge The pseudonymous entity tweeted Monday that BTC/USD is trading inside what appears to be a bullish continuation structure. Dubbed as “Bull Pennant,” the pattern forms as an asset enters a period of consolidation after a strong move uphill. The sideways […]
Continue ReadingBitcoin bulls should brace for inflection as the cryptocurrency closes above $16,000, according to Marc Principato of Green Bridge Investing. The executive director projected the level as an opportunity for traders to lock in some profits. He also added that they would most likely put that money back into the Bitcoin market at lower levels, […]
Continue ReadingEconomist and prominent market analyst Alex Kruger is not concerned about Bitcoin’s medium-term trend despite recent price weakness. He says that the coin could pull a Tesla-like rally in the months ahead. Bitcoin Could Pull a Large Rally in the Months Ahead Economist and prominent market analyst Alex Kruger is not concerned about Bitcoin’s medium-term […]
Continue ReadingAn overnight attempt to crash Bitcoin alongside the US stock market met with extreme resistance as the cryptocurrency bounced back handsomely. The BTC/USD exchange rate lost $465, or 3.51 percent, after the New York opening bell Monday. The pair fell to as low as $12,785, only to find a considerably higher buying sentiment. As a […]
Continue ReadingBitcoin is bracing for a bearish impact in the short- to medium-term, according to OKCoin. The San Francisco-based cryptocurrency exchange cited data from IntoTheBlock, a blockchain intelligence platform, that painted Bitcoin’s two out of seven on-chain fundamentals as bearish – and the rest as neutral. “The two “bearish” metrics [concern] the number of active Bitcoin […]
Continue ReadingA recent sharp pullback move in the US dollar market is insufficient to log a full-fledged upside breakout. So says Stephen Roach, the former chairman of Morgan Stanley Asia. The pro-Bitcoin economist wrote in an op-ed that the US dollar could fall by as much as 35 percent by the end of 2021 due to […]
Continue ReadingBitcoin did its own thing during the late Monday trading session. The benchmark cryptocurrency plunged suddenly towards $10,600 after maintaining intraday gains above the $10,800-support all day. The sell-off appeared despite a healthier macroeconomic outlook led by signs of progress in the release of the second COVID-19 stimulus package. US House Democrats released a $2.2 […]
Continue ReadingAs Bitcoin attempts a breakout move above $11,000, an analyst sees the cryptocurrency moving in the opposite direction. TradingView contributor Vince Prince placed the latest BTC/USD moves inside a descending channel. The chartist wrote in his Thursday analysis that the pair is heading into a so-called distribution zone inside the Channel. The area earlier clipped […]
Continue ReadingAn overnight pump that pushed popular decentralized finance token, YFI, up by 23 percent, has entered a bull trap. The Yearn Finance governance cryptocurrency fell 10 percent this Friday from its intraday top at $36,043. Its plunge appeared as a part of formal downside correction that typically follows price rallies. Traders apprehensively bought spot YFI […]
Continue ReadingFaith in Polkadot hasn’t been tarnished by the ham-fisted actions of Binance and Kraken, after the cryptocurrency exchanges commenced trading for DOT two days before the token was due to be redenominated, reducing its unit value by 100x. Because the CEX listings preceded a scheduled token redenomination, the Polkadot community was, for a short time, […]
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