Cryptocurrencies / Page 9

Technical Analysis – BTCUSD skyrockets on ETF speculation

Posted on October 24, 2023 at 8:51 am GMT

Bitcoin surges to an almost 18-month high Broader picture appears overly positive But overstretched rally increases the risk of a correction BTCUSD (Bitcoin) soared to an almost 18-month high on Tuesday, driven by speculation that an exchange-traded fund (ETF) that tracks the price of Bitcoin could soon be approved by the United States. The crypto king rallied more than 10% to hit 35,187, before pulling back below the 34,500 zone, which is marked as resistance by the inside swing low [..]

Bitcoin climbs to a 2-month high, touching $30,000 – Crypto News

Posted on October 20, 2023 at 11:42 am GMT

Bitcoin edges higher amid growing optimism on spot ETF approval Cryptos decouple from stocks, defying geopolitical jitters and rising yields Bitcoin reclaims the crucial 200-day SMA Investors count on spot-Bitcoin ETF approval Undoubtedly, Bitcoin is experiencing one of its best weeks in recent months, currently being around 10% up since Monday. This latest rally has helped the king of cryptos conquer the crucial 200-day simple moving average (SMA), which had repeatedly curbed any upside attempts in early October. The main [..]

Technical Analysis – BTCUSD consolidates above 200-day SMA

Posted on October 19, 2023 at 1:57 pm GMT

BTCUSD reclaims crucial 200-day SMA, posting 2-month high Trades flat in the past few daily sessions Momentum indicators are heavily tilted to the bullish side BTCUSD (Bitcoin) had been forming a structure of higher highs and higher lows since its bounce off the September bottom of 24,915. Moreover, the price jumped above the 200-day simple moving average (SMA) after several failed attempts, but this bullish outbreak failed to trigger a rally. If the bulls keep applying upside pressures, the price could initially [..]

Bitcoin under pressure as it decouples from stocks – Crypto News

Posted on October 13, 2023 at 11:50 am GMT

Bitcoin clocks negative week as stock markets rebound FTX trial and Middle East conflict undermine the sector Bitcoin price stuck between 50- and 200-day SMAs Cryptos trade in their own world Bitcoin and most major altcoins are on track to post a red weekly candlestick, exhibiting significant correlation breaks with other traditional assets. Firstly, we saw Bitcoin prices falling in the first three days of the week in a period when stock markets were advancing. What’s more interesting though is [..]

Technical Analysis – BTCUSD finds strong support at 50-day SMA

Posted on October 12, 2023 at 1:30 pm GMT

Bitcoin pulls back after rejection at 200-day SMA Decline ceases at the 50-day SMA Momentum indicators point to more losses BTCUSD (Bitcoin) had been forming a structure of higher highs and higher lows since its bounce off the September bottom of 24,915. However, the price has been on the retreat in the last few daily sessions after being repeatedly repelled by the 200-day simple moving average (SMA). If selling interest intensifies and the price crosses below the 50-day SMA, the September [..]

Bitcoin unsusceptible to stock selloff but fails to claim $28,000 – Crypto News

Posted on October 6, 2023 at 11:52 am GMT

Bitcoin defies spiking yields and equity market rout Faces strong technical rejection at the 200-day SMA Regulatory crackdown persists, all eyes on FTX trial Cryptos exhibit resilience in adverse macro environment The last few weeks have been characterised by risk off sentiment in financial markets as the Fed has repeatedly stated its intention to keep interest rates elevated for as long as it takes to tame inflation. As a result, US Treasury yields have been on the rise across the board, [..]

Technical Analysis – BTCUSD gets capped by 200-day SMA

Posted on October 5, 2023 at 12:33 pm GMT

Bitcoin in a steady advance, jumping above crucial descending trendline Despite the jump above 28,000, 200-day seems a tough obstacle Death cross points to losses but momentum indicators diverge BTCUSD (Bitcoin) has been forming a structure of higher highs and higher lows since its bounce off the September bottom of 24,915. Interestingly, the completion of a bearish cross between the 50- and 200-day simple moving averages (SMAs) has failed to trigger a decline. If buying interest intensifies, the king of cryptos [..]

Cryptocurrencies exhibit resilience amid stock market turmoil – Crypto News

Posted on September 29, 2023 at 11:41 am GMT

Bitcoin appears unsusceptible to stock market turbulence Ethereum gains 4% on Thursday over futures ETF approval rumors Regulatory and macroeconomic backdrop to stay in the driver’s seat Bitcoin steady despite stock market volatility This has been a relatively volatile week for financial markets, with stock indices selling off before rebounding as investors are bracing for a protracted period of high interest rates. For reference, on Wednesday, the CBOE Volatility Index (VIX) climbed to its highest levels since May, reflecting increasing downside [..]

Technical Analysis – ETHUSD extends sideways pattern, 50-day SMA in sight

Posted on September 28, 2023 at 2:23 pm GMT

Ethereum has been in a consolidation phase for the past month Death cross between 50- and 200-day SMAs fails to induce downside pressures Momentum indicators suggest intensifying buying interest ETHUSD (Ethereum) experienced a strong pullback after peaking at 2,030 in mid-July, touching a six-month low of 1,513. Meanwhile, the digital asset has been directionless for the past month, with the price closing the gap with the declining 50-day simple moving average (SMA). Should the positive momentum strengthen, the bulls might [..]

Bitcoin tumbles after Fed signals higher interest rate trajectory – Crypto News

Posted on September 22, 2023 at 11:51 am GMT

Bitcoin drops 1.8% on Thursday following a hawkish a FOMC meeting Experiences a strong technical rejection at the 50-day SMA on the daily chart Cryptos expected to extend their rangebound pattern in the absence of any major catalyst Fed inflicts severe damage to risky assets Cryptocurrencies started the week on the front foot, with Bitcoin reclaiming the $27,000 mark for the first time since August 31. Nevertheless, the positivity got shattered after the FOMC rate decision on Wednesday. Even though [..]

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