It’s Decision Time for Bitcoin as Technicals Suggest a Crucial Breakout Pattern

Bitcoin is facing an uphill task near $9,300 and $9,400 against the US Dollar. BTC seems to be preparing for the next big move either above $9,400 or below $9,000. Bitcoin is stuck in a broad range above the $9,120 support zone. The price is struggling to clear the $9,300 and $9,400 resistance levels. There is a crucial breakout pattern forming with resistance near $9,300 and $9,360 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could either start a strong rally above $9,300 or…

Last Time This Volatility Gauge Was This Low, Bitcoin Dove 50% in 2 Weeks

It may seem like a cliche at this point but Bitcoin’s volatility levels are extremely low. This is a byproduct of BTC’s price action over the past few weeks, which has been deemed “boring” by most traders. With volatility continuing to decline, though, analysts are coming to the conclusion that a large move is imminent. Nothing shows this as well as the Bollinger Bands, a textbook technical indicator that shows important price levels and the volatility of a market. Related Reading: BTC Just Confirmed a Signal That Preceded Historical 5,000%…

Bitcoin Mining Difficulty Hits Record High of 17.3 Trillion

Following last week’s record-high Bitcoin hash rate, the latest difficulty adjustment saw a change of +9.89%, bringing the level to a new all-time high of over 17.3 trillion on July 13. Despite a lack of recent significant Bitcoin (BTC) price action, the fundamentals securing the network are as healthy as they’ve ever been. This is more positive news for investors concerned about a previous drop in hash rate and difficulty after May’s third reward halving event. Concerns over halving unsubstantiated Some analysts predicted that the reward halving earlier this year…

This Overhead Liquidity Region Could Propel Bitcoin Past $12,000

Bitcoin’s unrelenting consolidation phase may not last for too much longer. Analysts are now explaining that the cryptocurrency is beginning to flash some subtle signs of bullishness as it trades around $9,300, with these factors potentially helping to boost it higher in the days and weeks ahead. While looking towards BTC’s weekly market structure, analysts are observing some tempered signs of strength. The same can be said on lower time frames as well, as the crypto is currently in the process of breaking above a heavy resistance region that has…

Brazil’s Top Exchange Mercado Bitcoin Lists Sport Token Chiliz

Chiliz (CHZ), a major sports-focused digital currency, is getting its first listing on a Brazilian cryptocurrency exchange. Mercado Bitcoin, the largest crypto trading platform in Brazil, will soon roll out Chiliz trading against the local currency, Brazilian real (BRL). Chiliz token is the first utility token listed on Mercado Bitcoin As officially announced on July 13, Mercado Bitcoin users are already able to make Chiliz deposits with BRL. Trading will be launched on July 14. Chiliz token is the seventh digital currency supported on Mercado Bitcoin exchange. According to data…

5 Bitcoin Metrics Are Making Highs Says Fund Manager: Could Price Follow?

Bitcoin has found itself in no man’s land. Take the chart below, which shows that over the past few months, the cryptocurrency has centered around the low-$9,000s, Chart of BTC’s price action over the past four months. Chart from TradingView.com The stagnation in the cryptocurrency market has been further accentuated by volatility indicators. Bitcoin’s historical volatility index has fallen under 40 for the first time since the February and March crash. Simultaneously, the width of the one-day Bollinger Bands has become the smallest since just days before Bitcoin plunged 50%…

This Historically Accurate Signal Suggests a Bitcoin Rally to $13K in Q3

Bitcoin is trading almost 12 percent below from its local top near $10,400, but a historically accurate technical indicator hints a trend reversal. The pattern formed on Monday as the short-term moving average of Bitcoin’s hash rate jumped over the long-term moving average, signaling the beginning of a buying setup. Its previous two formations over the last 12 months led the price higher by circa 45 percent. That roughly puts Bitcoin’s next upside target near $13,000 or beyond. Bitcoin bulls may prefer to hold onto their long-term upside sentiment as…

Bitcoin Breaking This Confluence Resistance Could Spark a Significant Surge

Bitcoin is holding the $9,120 and $9,200 support levels against the US Dollar. However, BTC is facing a confluence of resistance near $9,400, above which it could start a strong rally. Bitcoin is slowly rising and trading above the $9,200 support zone. The price is trading well below the $9,400 resistance, but above the 100 hourly simple moving average. There are two bearish trend lines forming with resistance near $9,320 and $9,380 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must settle above both…

Bitcoin Just Confirmed a Signal That Preceded Historical 5,000% Rallies

There’s been talk about Bitcoin’s “Hash Ribbons” over recent days. The Hash Ribbons is an indicator that derives signals from crosses in the short-term and long-term moving averages of the hash rate of the Bitcoin network. Crypto investors have begun to discuss it because they said it was on the verge of printing a bullish signal of macro importance. According to the creator of the indicator, the signal in question was just confirmed three hours ago (as of this article’s publishing). Bitcoin Just Confirmed a Bullish Signal of Macro Importance…

Institutional Traders Remain Bearish on Bitcoin; Factors to Consider

Bitcoin’s lackluster trading over the past ten weeks is showing no signs of concluding anytime soon. Although the cryptocurrency has been able to see some volatility within its long-held trading range, it has not been able to develop any clear directionality throughout the past couple of months. The price action seen between $9,000 and $10,000 as of late does seem to favor sellers, however, as BTC has been consistently setting lower highs. This trend can even be seen this morning when the benchmark crypto rallied up to highs of $9,400 before…