Bitcoin Price Smashes Through $7,500 With Spectacular Return of Bull Market

By CCN: The crypto market has made a spectacular return as it added $28 billion in the past 48 hours. The bitcoin price surged past $7,400 and hit a new 2019 high, marking the start of a new bull market. In many major markets, the volume of bitcoin has returned to the late 2017 level with the “real 10” daily spot volume of bitcoin surpassing $1.9 billion. The bitcon price hit a new 2019 high after surging over $7,500 The “real 10” volume calculates the daily volume of BTC using…

Weekly Bitcoin Price Indicator Prints Strongest Bull Signal Since Early 2018

A technical indicator used to identify the momentum behind asset prices is registering its highest value since the beginning of 2018 when applied to bitcoin, a possible positive sign for the cryptocurrency’s market.  The relative strength index (RSI) takes into account the speed and change in price movements, i.e. momentum, to reveal when the trend of the underlying asset is shifting from bearish to bullish market conditions and vice versa, as well as when it has become overextended. Traditionally, an RSI value above 70 is considered to be “overbought” and…

Bitcoin Price Retreats But Bull Case Intact Above $5.7K

View With prices holding above Tuesday’s low of $5,687, bitcoin remains on track for a break above $6,000. Acceptance below $5,687 would validate the bullish exhaustion signaled by a “shooting star” candle that formed Tuesday and could yield a deeper drop to the 30-day moving average (MA), currently at $5,333. The case for a deeper pullback would further strengthen if the current 3-day candle ends below $5,510. Bitcoin’s (BTC) bullish case is still intact after a pullback from 5.5-month highs, but prices must stay above key support at $5,700 to…

5 Reasons Bitcoin Bull Rally is Just Starting after 2019-High Above $5,000

The bitcoin price briefly crossed the $5,000 in several major regions on April 2, officially surpassing the $4,800 mark in global average price. The bitcoin price surges 19 percent within minutes (source: coinmarketcap.com) The somewhat expected increase in the price of bitcoin left many investors, including industry executives, bewildered about the factors that led the dominant cryptocurrency to surge. 1st Factor: A Purely Technical Move Throughout the past week, CCN reported that the $4,200 resistance level is crucial for the near-term price movement of bitcoin and once the level is…

Sudden Bitcoin Price Breakout Sets New Bull Target at Over $5K

View With bitcoin’s move today to 4.5-month highs near $5,080, the transition from bear to bull market appears done and dusted. The trend change would gain credence, though, if and when BTC finds acceptance above the former support-turned-resistance of the 21-month exponential moving average (EMA), currently at $5,200. The cryptocurrency is looking overbought as per the 14-day relative strength index, so prices may have a tough time breaking above $5,200 in the near-term. Bitcoin could see a pullback to $4,400 if signs of bullish exhaustion increase in the next few…

Bitcoin Needs Price Gain for Bull Reversal in March

View Bitcoin created a bullish “engulfing candle” last month, confirming seller exhaustion. A bullish reversal, however, would only be confirmed if price closes above $4,190 (high of the engulfing candle) on March 31. A bullish monthly close would open the doors to $5,000, although gains may be hampered by the crucial 21-week moving average, which is still trending south. The prospect of a bullish monthly close above $4,190 would drop sharply if prices find acceptance under the 30-day moving average, currently at $3,900. That average line has served as strong support…

Bitcoin Price Drops Back Below $4K But Bull Outlook Still Intact

View Bitcoin failed to capitalize on a bull breakout above $4,040 yesterday, but the short-term outlook remains bullish as the higher-lows pattern is still intact. A convincing break above the three-day chart resistance of $4,040 still looks likely and could be followed by a rally toward the recent high of $4,190. The immediate outlook would turn bearish if prices find acceptance below $3,920 (previous day’s low). A bearish close, if confirmed, could yield a drop to $3,700–$3,658 (Feb. 27 low). Bitcoin (BTC) has dropped back from levels over $4,000, but…

Bitcoin Price Charts Echo Pattern Seen Before 2015 Bull Market

View Bitcoin’s drop from a record high of $20,000 clocked in December 2017 has ended up creating a falling channel similar to the one created in the 18 months leading up to the long-term bullish reversal seen in October 2015. If the same sequence of events unfolds, BTC could see a channel breakout later this year. An early move out of the falling channel cannot be ruled out, but may not yield stronger rally while the crucial 21-week moving average is trending south. The short-term bullish view put forward by…

Bitcoin Faces Minor Price Retreat Amid Increasing Bull Exhaustion

View Bitcoin created a doji candle yesterday, signaling buyer exhaustion near the crucial 21-week moving average (MA) resistance at $4,073. As a result, a price pullback could be in the offing in the next 24 hours. A break below $3,930 (flag support on 4-hour chart) would further strengthen the case for a pullback and expose support levels lined up at $3,890 and $3,755. The doji candle would be invalidated if prices find acceptance above $4,000 in the next few hours, confirming a bull flag breakout on the 4-hour chart. That…

Bitcoin Bull Market Won’t Arrive Until Price Shatters $4,600

In the past seven days, the valuation of the crypto market has increased from $131 billion to $137 billion as the Bitcoin price slightly recovered to $3,960. Bitcoin Stagnancy Shows No New Money Entering Crypto Market The minor movement in the price of bitcoin despite the significant surge in the price of alternative cryptocurrencies suggest that existing money in the cryptocurrency market is moving – but new money is not flowing in. Speaking to CCN, a cryptocurrency technical analyst known as DonAlt said that there exists a newfound optimism in…