Bitcoin’s Sideways Drift Has Shifted Price Recovery Target to $3.7K

View Bitcoin’s six-day-long consolidation near $3,600 has neutralized the bullish view put forward by a falling wedge breakout confirmed on Feb. 8. The follow-through to that bullish breakout has been extremely weak with prices unable to challenge the highs above $3,700 hit last Friday. A move above $3,711 (Feb. 8 high) would validate the bullish outside reversal candle seen in the 3-day chart and open the doors to the psychological hurdle of $4,000. That looks likely as BTC has witnessed another falling wedge breakout on the 4-hour chart. Bitcoin risks…

One Trader Thinks Recent 10% Rally of Bitcoin Could Lead to Something Much Greater: a Full-Fledged Recovery

The Bitcoin price today chartered into positive territory after weeks of bearish action near $3,400. It rose close to 10% while clearing through a stubborn resistance area of $3,480-3,500. A sudden spike is as incredible as it is scary. There are questions about its origins. Is it natural for an asset to wake from a bearish slumber and rise 10%? Now if that has happened, how severe would the next bearish correction be? And most importantly, how far BTC can extend its gains as it trends higher in its overbought…

2019 a Year of Accumulation For Bitcoin, Recovery by Year’s End

Bitcoin could see a recovery by the end of 2019. | Source: Shutterstock In the past 24 hours, the crypto market has recovered from $120 to $123 billion as the Bitcoin price avoided a further drop below the $3,600 mark. The bitcoin price avoided a further drop below $3,600. Ethereum has also been able to rebound relatively quickly from the delay of the Constantinople hard fork, which initially caused a 10 percent drop from $130 to $116. Slow Grind Up For Bitcoin Expected in 2019 Due to the intensity of…

Bitcoin Undervalued, People Building on it Will Lead to Recovery

Over the last 48 hours, following a large loss on Christmas, the Bitcoin price has recovered back to around $4,000. The dominant cryptocurrency, which still holds a market valuation of over $64 billion, has demonstrated wild volatility in a wide price range from $3,100 to $4,300 throughout December, struggling to recover to November levels. Last month, the cryptocurrency market was valued at around $220 billion. As of December 28, the valuation of cryptocurrencies remains at $133 billion, down $87 billion within a 30-day span. Key to the Recovery of Bitcoin…

Bitcoin Price Watch: BTC Hesitates, But Recovery Seems Likely

Key Points Bitcoin price found support near the $3,125 level and later recovered against the US Dollar. There is a major bearish trend line formed with resistance at $3,220 on the hourly chart of the BTC/USD pair (data feed from Kraken). The price is likely to correct towards $3,320 if there is an upside break above the $3,220 resistance. Bitcoin price is showing positive signs above $3,120 against the US Dollar. BTC could rebound in the short term towards the $3,320 or $3,400 levels. Bitcoin Price Analysis This past week,…

Is Bitcoin Heading for $3,000? Potential Factors for a Market Recovery

After watching the price of Bitcoin going through its roughest month for seven whole years, many in the space appear to be bracing themselves for a more brutal “crypto winter” than they ever thought possible. One market analyst believes that we could be about to drop further to a new yearly low of $3,000. That said, there has been very little in the way of negative news surrounding the number one digital asset. In fact, Bitcoin’s surrounding infrastructure has never looked better. Despite the lulls, such factors continue to inspire…

Bitcoin Recovery Weakens as Price Drops 4.4%, Dead Cat Bounce?

The gains Bitcoin made during the Friday and weekend trading session fizzled at the beginning of this week. The digital currency’s recovery lost steam after establishing an intraday high at 3640-fiat, now thrice in December. It dropped as much as 4.4% on Monday, confirming a weak bull sentiment near the said resistance area. At the time of this writing, Bitcoin has located support at a near-term rising dotted trendline and is trading at $3,420. BTC/USD 1H CHART | SOURCE: COINBASE, TRADINGVIEW.COM After zooming out the chart, the BTC/USD rate can…

Bitcoin Avoids Large Drop Below $3k With 7% Recovery, Trend Reversal?

Over the last 24 hours, the Bitcoin price has experienced a seven percent recovery from $3,210 to $3,433, avoiding a further drop below the $3,000 support level. Many traders expected Bitcoin (BTC) to rebound from the $3,000 to $3,300 range because the $3,000 support level has shown strength throughout the past two weeks. Ethereum (ETH) recorded a 15 percent increase from its daily low and ERC20 tokens such as Quarkchain, OmiseGo, and 0x demonstrated gains in the range of 5 to 15 percent, due to the integration of tokens by…

Crypto Market Adds $12 Billion in Decent Recovery: Major Assets Surge

Twitter Facebook LinkedIn Over the past 24 hours, following a steep decline in the price of major cryptocurrencies, the crypto market added $12 billion to its valuation. Within a relatively short span, the valuation of the crypto market increased from $115 billion to $127 billion as Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Bitcoin Cash (BCH), and many other cryptocurrencies recorded gains in the range of 6 to 12 percent. Bitcoin Cash performed strongly, recording an 11 percent increase in price. But, its price still remains below the $200 support level…

Bitcoin Price Eyes Recovery After Defense of Long-Term Support

Bitcoin’s defense of key long-term support for the second time in four days is a positive sign for a potential recovery rally. The leading cryptocurrency by market value fell below $4,242 (low of Wednesday’s inside-day candle) in the Asian trading hours, putting the bears back into the driver’s seat. As a result, BTC fell below the 200-week exponential moving average (EMA) of $4,182 earlier today. The breach of the EMA support, however, may have trapped the bears on the wrong side of the market, as BTC is currently trading at…