Cryptocurrencies / Page 16

Technical Analysis – BTCUSD consolidates after advance pauses

Posted on January 19, 2023 at 2:51 pm GMT

BTCUSD (Bitcoin) edged higher after breaking above its prolonged sideways pattern in early 2023. However, the king of cryptocurrencies is currently trading within a range as its rebound got rejected at the four-month high of 21,640. The momentum indicators currently suggest that the recent rally could be overstretched as both the RSI and the stochastic oscillator are currently well within their overbought territories. Hence, a potential downside correction may be on the cards. Should buying pressures persist, the digital coin could test [..]

Bitcoin notches 8-day winning streak to reclaim $18,000 – Cryptocurrency News

Posted on January 12, 2023 at 4:07 pm GMT

As 2023 unfolds, Bitcoin and most major altcoins are extending their slow but steady advance, closely tracking stock markets’ performance. On Thursday, the king of cryptocurrencies jumped above the $18,000 mark for the first time since mid-December and is on track to expand its eight-day gaining streak, which is the largest since July 2021. Much of this positivity is attributed to emerging signs that inflationary pressures are subsiding, potentially enabling the Fed to execute a soft landing. Cryptos fare well [..]

Technical Analysis – ETHUSD marches higher to test 200-day SMA

Posted on January 12, 2023 at 12:54 pm GMT

ETHUSD (Ethereum) has been trading within a tight range after finding its feet at the four-month low of 1,071 in early November. In the near term, the price managed to exit its sideways pattern and it is currently battling with the 200-day simple moving average (SMA). The momentum indicators currently suggest that the recent rally could be overstretched as both the RSI and the stochastic oscillator are currently well within their overbought territories. Hence, a potential downside correction may not be off [..]

Technical Analysis – BTCUSD fails to break above 200-SMA

Posted on January 5, 2023 at 1:18 pm GMT

BTCUSD has been experiencing a prolonged period of consolidation in the four-hour chart, with the price failing to escape its narrow range. Since the beginning of 2023, the cryptocurrency has been attempting a rebound, but its advance has been repeatedly held down by the 200-period simple moving average (SMA). The momentum indicators currently suggest that near term risks are tilted to the upside. Specifically, the RSI is pointing upwards above its 50-neutral mark, while the stochastic oscillator is set to [..]

Cryptocurrencies start off the year on the right foot, outlook unchanged– Cryptocurrency News

Posted on January 4, 2023 at 2:45 pm GMT

Bitcoin and most major altcoins breathed a sigh of relief as 2022, which was a bruising year for crypto markets, came to an end. Last year, Bitcoin prices declined by a whopping 65%, while the total market capitalization of the crypto universe slumped from around $2.3 trillion to slightly below $800 billion. Looking forward, the negative macroeconomic conditions and systemic failures that led to the capitulation of digital coins seem unlikely to abate soon. Thus, are there any signs of [..]

Cryptos leave devastating year behind, can they lick their wounds in 2023? – Cryptocurrency News

Posted on December 23, 2022 at 12:54 pm GMT

Undoubtedly, 2022 has been a turbulent year for Bitcoin and cryptocurrency markets in general as the combination of rising interest rates, persistently high inflation and liquidity draining shifted investor interest towards defensive assets. On top of that, the crypto space also suffered from an alarming number of systemic failures, which dented investor trust in the broader digital sector and raised calls for regulatory intervention. Can cryptocurrencies stage a considerable comeback in 2023? Monetary tightening weighed on cryptos Through 2022, a barrage [..]

Technical Analysis – ETHUSD trades sideways but sets for ‘death cross’

Posted on December 21, 2022 at 2:26 pm GMT

ETHUSD (Ethereum) experienced a sharp decline in the four-hour chart, with the price falling below both its 50- and 200-period simple moving averages (SMAs). Even though the digital coin has been trading sideways in the last few sessions, the completion of the impending ‘death cross’ between its 50- and 200-period SMAs could spark a selloff. The momentum indicators suggest that near-term risks are tilted to the upside, diverging from the bearish ‘death cross’ signal. Specifically, the MACD histogram remains above [..]

Bitcoin posts 1-month high after soft CPI print, systemic woes persist – Cryptocurrency News

Posted on December 14, 2022 at 2:22 pm GMT

After a month of consolidation within a tight range, Bitcoin managed to realize some gains on the back of the latest softer-than-expected US CPI reading. However, this positive development was partially overshadowed by a new wave of frauds and failures, which acted as a reminder that the contagion from FTX’s collapse has not been totally contained yet. Looking forward, today’s FOMC meeting could provide some fresh directional impetus for cryptos, while calls for regulatory intervention are multiplying. Cryptos move in [..]

Technical Analysis – BTCUSD crawls above 17,000; bullish action limited

Posted on December 9, 2022 at 2:23 pm GMT

BTCUSD (Bitcoin) pierced through its simple moving averages (SMAs) for the first time since the start of November to crawl back above the 17,000 round level. While the weekly resistance of 17,380 seems to be a hurdle at the moment, and some weakness is evident in the RSI and the MACD, the indicators keep hanging within the bullish area, promoting a continuation higher. If that proves to be the case, the spotlight will shift towards the 38.2% Fibonacci retracement of [..]

Crypto market wavers amid FTX’s bitter aftermath – Cryptocurrency News

Posted on December 9, 2022 at 12:44 pm GMT

While traders evaluate the bitter aftermath of the FTX’s fall, questions are rising about whether there is enough bullish incentive left to lift cryptos up again. Total healing might take some time as failures push for new limitations in the industry, though hopes for reduced risks in the future may keep some buyers interested. Damaged sentiment The domino effects from FTX’s and Alameda Research’s collapse continued to undermine trust in digital-asset markets for another week, with Bitcoin and Ethereum tip toeing [..]

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