Bitcoin Trend Overwhelmingly Bullish: Dips In BTC Remain Supported

Bitcoin price traded to yet another 2019 high near $9,470 and corrected lower against the US Dollar. The price is trading nicely above the $9,200, $9,150 and $9,000 support levels. There is a key breakout pattern forming with support near $9,220 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct towards the $9,150 or $9,000 support before it starts a fresh rally. Bitcoin price is showing a lot of bullish signs above $9,000 against the US Dollar. BTC currently traded towards $9,500 and…

Bitcoin Price ‘Could Fall to $6,500’ Before Next Bullish Spike: eToro Analyst

Published: 17/06/2019 13:00 EST By CCN Markets: The price of bitcoin has broken through the $9,000 mark and seems well on its way to $10,000, but brokerage firm eToro believes that there’s a pullback in the cards before the cryptocurrency enjoys its next bullish run. The price of bitcoin has broken past the $9,000 mark, but eToro analyst Simon Peters believes that there will be a pullback before the bullish run continues | Source: TradingView Simon Peters, an analyst at the multi-asset investment platform eToro, has warned investors to be…

Google Trends Bitcoin Searches, a Key Price Indicator, Turn Mega Bullish

By CCN Markets: On June 7, Coin Street News (@CoinStreetNews) shared a chart on Twitter that could have serious implications on bitcoin’s price action. The account specializes in technical analysis of cryptocurrencies and other assets. They posted a Google Trends chart and revealed that “there are more people searching ‘bitcoin’ now than during the 2013 bubble.” The tweet also noted that the year-over-year data for the search term “bitcoin” has gone up for the first time in the past year. Coin Street News noted the significant rise in the search…

Italy’s Terrifying Currency Scheme is Insanely Bullish for Bitcoin

By CCN Markets: The Italian government is mulling the decision to issue a “parallel currency” in a move that could plunge the eurozone into crisis – and provide the best case yet for mass bitcoin adoption. In the same week, the Italian deputy prime minister proposed a tax grab on cash and valuables stored in safety deposit boxes. These crisis policies expose deep cracks in the fiat monetary system. The move prompted money historian Rebecca L. Spang to call for a new foundation of money. “The time has come for…

Bitcoin Price Could Hit $25,000 Before 2020, Says Bullish Crypto Analyst

By CCN Markets: The bitcoin price could break above its all-time high by year-end 2019, according to Oliver Isaacs. The millionaire cryptocurrency analyst and trader told The Independent that more investors are viewing bitcoin as a safe-haven asset in the wake of growing macroeconomic tensions. Isaacs referred to the ongoing trade conflicts between the U.S. and China that last month sent the global equity market on a downward trend. The negative sentiment prompted investors to hedge in cryptocurrencies. He stated: “I believe bitcoin has the potential to hit $25,000 by…

Bullish Bitcoin Price on Course for Further Gains after 110% YTD Spike

By CCN Markets: Since achieving a new 2019 high at above $9,000 at most major crypto exchanges, the bitcoin price has dropped to around $7,900 by more than 12 percent against the U.S. dollar. After a 12 percent pullback, the bitcoin price is still up nearly $2,000 in the past 30 days (source: coinmarketcap.com) While many technical analysts have warned against the strong possibility of a pullback occurring in the near-term, which remains probable considering the 110 percent year-to-date gain of the dominant crypto asset, one trader says bitcoin is…

Bitcoin Price Loses Bullish Edge as FOMO Rally Runs Outta Steam

By CCN: The Fear of Missing Out (FOMO) that recently drove bitcoin’s price above $9,000 has run out of gas, according to a new report published by crypto analytics firm SFOX. While the BTC price was on a steady incline since the beginning of April when bitcoin traded for $4,100, the coin has hit a ‘tipping point’ in overall sentiment. Bitcoin began to rally in April. | Source: CoinMarketCap Bitcoin Rally Driven by FOMO SFOX relies upon price momentum, market sentiment, and industry advancement for its price outlook. In May,…

Bullish LedgerX Crypto Options Bets Resurface: Bitcoin $50K by 2020

By CCN: Now that the bitcoin price has momentum on its side, the bulls are placing bullish bets again. The most aggressive trades are seemingly happening in the crypto derivatives market where the risk/reward profile differs vs. the spot market. Now that the bitcoin price has generated returns of approximately 130% year-to-date, derivatives traders are willing to put it on the line once again. One bullish trade that has resurfaced in the crypto call options market is a bet that the bitcoin price will surpass $50,000 by this time next…

Key Bullish Technical Signal Predicts Bitcoin Price Is Approaching $12,000

By CCN: The minor bitcoin price rally which Bloomberg initially rejected as an April Fools’ joke has metamorphosized into a laughter riot. The world’s leading cryptocurrency has surged as much as 116.29% since its first notable breakout action of April 2. It established a fresh yearly high $8,947.88 this Monday in what now appears like a tireless bull run. There have been no signs of extreme pullbacks despite bitcoin’s overbought status. And every minor downside correction is influencing more speculators to enter the bitcoin market at a slightly lower intraday rate.…

Bitcoin Price Backs Off 12 Month Highs, But Bias Remains Bullish

View Bitcoin has retraced slightly from the one-year high of $8,940 reached earlier today. Any pullbacks could be short-lived, however, as buying pressure is currently the strongest in over five months, according to a weekly chart indicator. A pennant breakout on the daily chart indicates scope for a rally to $10,000 in the near-term. On the way higher, BTC may encounter resistance at the key Fibonacci level of $9,442. The bullish case would weaken if prices fall back below $8,000 in the next day or two. Bitcoin (BTC) has pulled…