Tag: Price

Bitcoin’s Price Is Nearing $10K On a Single, Troubled Exchange

Cryptocurrency exchange WEX continues to see prices well out of step with the broader market amid a near-total freeze on customer withdrawals. As CoinDesk reported, customers of WEX – a kind of successor to the now-defunct cryptocurrency exchange BTC-e – have been on tenterhooks since July 12, as they’ve largely been unable to get outbound payments processed. The only exceptions have been for the crypto assets tether and zcash (along with lower-volume, lesser-known alternatives like namecoin and novacoin) and the price disparities suggest that some WEX users are utilizing these…

Indicator Suggests Bitcoin’s $8K Price Rally Could Be Overstretched

Bitcoin (BTC) has had a bullish start to the week, but the momentum could wane in the next few days, technical studies indicate. The leading cryptocurrency rose to a two-month high of $8,130 on Bitfinex today, having witnessed an inverse head-and-shoulders breakout last week. The 40 percent rally from the seven-month low of $5,755 reached on June 24 has put the bulls back in a commanding position. Hence, further gains could be on the cards, albeit after a brief pause or a price pullback as a key technical indicator is…

Bitcoin Price Watch: BTC/USD Breaks $8,000, Next Target $8,500

Key Points Bitcoin price gained momentum and broke a key resistance at $8,000 against the US Dollar. There is a key connecting bullish trend line in place with support at $7,850 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might correct a few points, but it remains in an uptrend towards $8,500. Bitcoin price is climbing higher above $7,800 against the US Dollar. BTC/USD broke the $8,000 resistance and it looks set for more upsides in the near term. Bitcoin Price Analysis Yesterday, we…

Ethereum Classic Price Analysis: ETC/USD Likely Forming Double Bottom

Key Highlights Ethereum classic price retested an important support area near $15.75 against the US dollar. There is a crucial bearish trend line forned with resistance at $16.20 on the hourly chart of the ETC/USD pair (Data feed via Kraken). The pair may perhaps break the $16.20 resistance and the 100 hourly simple moving average. Ethereum classic price is under pressure against the US Dollar and Bitcoin. ETC/USD is likely forming a double bottom pattern near $15.75, which could ignite bullish moves. Ethereum Classic Price Support There were continuous declines…

Bitcoin Price Hits Two-Month High as Dominance Rate Spikes

Bitcoin’s (BTC) price clocked a two-month high of $7,820 today and looks set to extend gains further, a key cryptomarket gauge indicates. CoinMarketCap’s bitcoin dominance rate, an indicator that tracks the percent of the total cryptocurrency market capitalization contributed by the leading cryptocurrency, rose to 46 percent today — the highest level since December 20 — adding credence to BTC’s 20 percent rally seen in the last seven days. To start with, a rise in the BTC dominance rate essentially means the number one cryptocurrency is more in demand compared to the…

Crypto Trading 101: Stochastic Oscillators and Price Momentum

You may have heard of a lagging or leading indicator before. Maybe your friends have tossed around terms like bullish or bearish divergences, oversold or overbought conditions and what signals you should use to enter or exit the market. While there are many tools that can assist with this, one often overlooked indicator is called the stochastic oscillator. Nothing unique to the world of blockchain, the stochastic is a momentum indicator that compares the closing price of the asset with its high-low range over a certain period of time, it’s…

Crypto Trading 101: Bull and Bear Flags (And What They Mean for Price)

When it comes to making big money in trading, the trend is your friend. But spotting the trend when it is in the nascent stage is challenging, and running along with it right up to the top is an even bigger challenge. That’s because asset prices rarely see a 90-degree rally or collapse. More often than not, trends (bullish/bearish) will pause briefly to allow traders or investors who missed the initial move (higher or lower) to join the bandwagon. If the participation increases, the asset price extends the bull or bear…

Bitcoin Price Prepares to Test $8K After Bull Breather

Bitcoin’s (BTC) minor price pullback yesterday has likely recharged the bulls for a rally towards $8,000, technical charts indicate. The leading cryptocurrency has spent a better part of the last 15 hours trading in the $7,240–$7,440 range, having clocked a 40-day high of $7,588 at 18:00 UTC yesterday. Moreover, BTC was looking overbought at multi-week highs, hence a minor correction was expected. More importantly, the price pullback and the subsequent consolidation, when viewed against the backdrop of the high volume inverse head-and-shoulders breakout, indicate that BTC has likely gathered steam…

Bitcoin Price Risks Pullback Before Testing $8K Again

Bitcoin (BTC) could be in for a minor price pullback, having clocked a 39-day high above $7,500 earlier today. The leading cryptocurrency rose to $7,562 on Bitfinex at 03:00 UTC and was last seen changing hands at $7,400 – up nearly 10 percent on a 24-hour basis. Further, the price rally has pushed the week-on-week gains higher to 15 percent. On Tuesday, BTC crossed the inverse head-and-shoulders neckline resistance of $6,838 with strength, confirming a short-term bearish-to-bullish trend change. So, a rally to $7,900 (inverse head-and-shoulders breakout target) could be…

Bitcoin Price Retakes 50-Day Moving Average in First Since May

Bitcoin (BTC) scaled the crucial 50-day moving average (MA) on Monday for the first time in nearly two months, taking its price above $6,700. The corrective rally picked up the pace 24 hours ago, possibly due to reports stating that BlackRock, INC – the world’s largest asset manager and exchange-traded fund (ETF) provider – is considering venturing into cryptocurrency markets. Later in the day, BlackRock CEO Larry Fink clarified rumors by stating that he doesn’t see a huge demand for cryptocurrencies from clients, Still, BTC remained bid and closed (as per…