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View With the hash rate or miner’s confidence hitting record highs, bitcoin’s three-day narrowing price range looks set to end with a bullish breakout. A range breakout would open the doors to $10,956 – the bearish lower high created on Aug. 20. A break below Friday’s low of $10,154 would confirm a range breakdown and […]
Continue ReadingNoelle Acheson is a veteran of company analysis and CoinDesk’s Director of Research. The opinions expressed in this article are the author’s own. The following article originally appeared in Institutional Crypto by CoinDesk, a weekly newsletter focused on institutional investment in crypto assets. Sign up for free here. For a primer on crypto valuation concepts, […]
Continue ReadingHistory looks to be repeating itself in the bitcoin market, as a key indicator’s bullish turn could mark the beginning of the next meteoric price rally. The world’s most valuable cryptocurrency’s price action seen over the last eight months is very similar to the moves seen in 2015, according to Bitstamp data. For instance, the […]
Continue ReadingView The 4-hour chart is reporting a bullish breakout. As a result, bitcoin could challenge key resistance at $10,956 in the next few days. Daily chart indicators also indicate scope for a retest of recent highs. A UTC close above $10,956 (Aug. 20 high) would activate twin bullish cues and open the door to $12,000. […]
Continue ReadingView Bitcoin’s long-term bullish bias remains intact, with prices holding well above the historically strong support of the three-day chart’s 55-candle exponential moving average (EMA), currently at $8,972. The line served as a strong base in the 2016–2017 bull market. A bullish falling-wedge breakout on the 4-hour chart looks likely and could pave the way […]
Continue ReadingView Bitcoin’s drop from $10,949 to $9,855 (Wednesday low) may be a bear trap, as selling volumes have dropped throughout the price pullback. A widely-tracked 4-hour chart indicator is reporting a bullish divergence and the daily candlesticks are signaling seller exhaustion. BTC could rise above $10,270, confirming a falling wedge breakout on the 4-hour chart. […]
Continue ReadingBakkt has officially revealed the initial deposits its customers will have to make to margin trade its bitcoin futures products. In a new notice posted Tuesday, ICE Futures U.S. – the actual futures exchange Bakkt’s contracts are trading on – announced the initial hedge and speculative requirements for customers, as well as its monthly rate add-ons. […]
Continue ReadingView Bitcoin’s hourly chart shows that yesterday’s falling-wedge breakout failed, but the outlook remains neutral with prices holding well above key support at $10,060. A break below $10,060 would strengthen the bearish setup on the daily chart and could yield a drop to $9,755 (Aug. 22 low). The outlook would turn bullish if BTC invalidates […]
Continue ReadingView Bitcoin risks falling below $10,000 this week, having confirmed a high-volume bearish reversal on the daily chart on Friday. A break below $10,000 would expose key support levels lined up at $9,755 and $9,320. The bearish case would weaken if the cryptocurrency rises above $10,350 today, confirming a wedge breakout on the hourly chart. […]
Continue ReadingMax Boonen is founder and CEO of crypto trading firm B2C2. This post is the first in a series of three that looks at high-frequency trading in the context of the evolution of crypto markets. Opinions expressed within are his own and do not reflect those of CoinDesk. The following article originally appeared in Institutional Crypto by CoinDesk, a […]
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