Bitcoin [BTC] and Litecoin [LTC] Price Analysis: BTC surpasses $7,000, LTC follows suit

The collective cryptocurrency market was climbing after the recent Bitcoin bullish swing as the market cap hit $219.8 billion. Bitcoin [BTC] continued to trade higher and surpassed a major resistance point at $7,000. Its silver counterpart Litecoin [LTC] also followed suit to break past the much-anticipated $90-mark.
1-day BTC chart
The largest cryptocurrency by market cap Bitcoin [BTC] was trading at $7,301 after rallying 8.37% over the last 24 hours. At press time, the crypto-asset held a market cap of $128.5 billion and recorded a trading volume of $30 billion.
Source: TradingView
The one-day BTC chart registered a significant uptrend from $4,143 to $5,153 and another uptrend from $5,143 to $5,740, following market correction. A downtrend from $6,321 to $5,542 was also observed in the above chart.
BTC broke the previous set resistance at $6,500 and $7,000 in a very short period of time and is expected to climb higher. The digital coin found support at $3,859.
Bollinger Bands: The open mouth of the bands indicated high price volatility and another price break out for Bitcoin.
Awesome Oscillator: The closing bar of the indicator was green, suggesting some bullish activity for the coin.
Chaikin Money Flow: The CMF was also above the zero-line, indicating that money was flowing into the coin market. Hence, a bullish price pattern for the crypto-asset was recorded.
1-day LTC chart
The fifth largest crypto-asset on CoinMarketCap, Litecoin [LTC], held a market cap of $5.63 billion. The coin posted significant gains and rallied to $91.25 after a pumping 15.80 % over the past 24 hours. At press time, the coin registered a 24-hour trading volume of $6.34 billion.
Source: TradingView
The one-day Litecoin [LTC] chart registered an uptrend from $32.86 to $66.76 and another uptrend from $66.76 to $73.80. A downtrend from $55.96 to $33.80 was also observed. Litecoin managed to break past its immediate resistance point at $90 and continued to trade higher as the market exhibited a major upswing.
The coin found support at $45.04 and $32.62.
Parabolic SAR: The dotted markers were below the candlesticks, indicating a bullish phase for the crypto-asset.
MACD: The MACD line was also above the signal line, indicating the coin following a bullish course.
Klinger Oscillator: The reading line was also above the signal line, pointing towards a bullish price pattern for Litecoin.
Conclusion
Bitcoin continued to exhibit high volatility and broke past two major resistance level within 48-hours and is anticipated to touch $8,000. The king coin’s bullish rally prompted LTC to retrace its steps back to its previous glory.
The post Bitcoin [BTC] and Litecoin [LTC] Price Analysis: BTC surpasses $7,000, LTC follows suit appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin’s sudden rally caused massive liquidations for short sellers on various exchanges

Bitcoin’s surge above the $6,000 level was sudden and shocked a lot of people as the price was a few hundred dollars short of hitting $7,000. This surge caused a lot of traders, novice, and veterans, to get liquidated on their shorts.
BitMEX Rekt, a Twitter bot that keeps track of all the liquidated orders was blowing up a few minutes after the 21:00 UTC on May 10, as the surge started at this point. The price at this point started at $6,200 and surged by a massive 11% in under 9 hours.
A Twitter user @Roy tweeted, “Don’t do leverage kids”
Source: Twitter | StartaleTV
BitMEX Liquidation
On BitMEX, 1 contract of XBT [Bitcoin Perpetual Contract] is worth 1 USD; below are the tweets that outline liquidate positions.

Liquidated short on XBTUSD: Buy 4,699,287 @ 6897 ~ BEYOND GODLIKE ~ Somebody Once Told Me The World Is Gonna Roll Me
— REKT (@BitmexRekt) May 11, 2019

Liquidated short on XBTUSD: Buy 1,073,628 @ 6851.5 ~ RAMPAGE ~ You traded in the wrong neighborhood
— REKT (@BitmexRekt) May 11, 2019

Liquidated short on XBTUSD: Buy 2,114,327 @ 6845.5 ~ M-M-M-M-Monster kill
— REKT (@BitmexRekt) May 11, 2019

Liquidated short on XBTUSD: Buy 2,114,327 @ 6845.5 ~ M-M-M-M-Monster kill
— REKT (@BitmexRekt) May 11, 2019

Needless to say, the tweets were a few examples of the havoc that Bitcoin’s sudden price surge wreaked upon the short sellers. The chart attached below shows how the shorts were mutilated by the longs.
Source: TradingView
Moreover, at press time, the price of Bitcoin took a short breather as it started its ascent again. The price was $6,480 and the market cap was $120 billion. Bitcoin dominance reached 59% and was rising steadily.
Bitcoin’s joy ride above the $6,400 has stirred altcoins to do the same as Ethereum, the second largest cryptocurrency, pumped by 10%, causing its price to reach $191. XRP pumped by 4% and led the price to hit $0.31. Litecoin is perhaps the only one to have taken full advantage of this rally as it was up by 14% in 24 hours and the price of LTC was $87; standing tall as the fifth largest cryptocurrency. Bitcoin Cash was up by 13% in 24 hours and was priced at $325.
Source: TradingView
Altcoins seemed to be doing well due to the Bitcoin rally, however, Bitcoin shorts were brutally mutilated by the longs. The rally for Bitcoin looks like it will start again, and it would be spectacular and surprising if it crosses the $7,000-level.
The post Bitcoin’s sudden rally caused massive liquidations for short sellers on various exchanges appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Bulls command market despite minor dip in prices

The collective market cap of the coin market fell below $180 billion on 9 April. After posting gains throughout the week, Bitcoin [BTC] and its silver counterpart, Litecoin [LTC], declined by 1.04% and 5.53%, respectively, against the US dollar over the past 24 hours.
The largest crypto-asset on CoinMarketCap, BTC, held a market cap of $92.35 billion and was priced at $5,224. The digital gold registered a 24-hour trading volume of $15.90 billion. However, the coin recorded a 17.27% surge over the past seven days.
Litecoin [LTC], the fourth largest cryptocurrency, registered a market cap of $5.31 billion and a 24-hour trading volume of $3.20 billion. The crypto-asset was valued at $86.62. Besides, the digital asset recorded a significant surge of 35.25% over the week.
1-day BTC chart
Source: TradingView
The candlestick arrangement on BTC’s one-day chart exhibited a major downtrend from $6,459 to $4,186. A small uptrend from $4,198 to $5,089 was also observed. The supports for the crypto-asset were found at $3,902 and $3,602, while the immediate resistances were at $5,663 and $6,562.
Bollinger Bands: The mouth of the bands was open. The divergence of the bands depicted increasing volatility for the coin’s price.
Awesome Oscillator: The closing bar of the indicator was green, suggesting an emerging bullish pattern.
Chaikin Money Flow: The CMF was well above the zero-line, indicating that money was flowing into the coin market. Hence, a bullish trend for BTC was pictured.
1-day LTC chart
Source: TradingView
The one-day LTC chart exhibited two uptrends from $32.90 to $45.68 and $45.68 to $60.31, followed by a minor correction. Another uptrend from $61.31 to $89.43 was registered, fueled by the latest market spike. A minor downtrend from $56.52 to $34.60 was also noted. The coin successfully breached the previously marked resistance, but failed to sustain the $90-mark. The coin’s price was anticipated to surpass $100 after another potential price break. The support points for LTC stood firm at $41.93 and $28.66.
Parabolic SAR: The dotted markers were below the candlesticks, predicting a bullish phase for the silver crypto.
Klinger Oscillator: The reading line was above the signal line, also depicting a bullish pattern for LTC.
MACD: The MACD line was above the signal line. This projected a bullish phase for the coin.
Conclusion
Despite market correction pulling the prices down, all indicators pictured a strong bullish trend for BTC and LTC.
The post Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Bulls command market despite minor dip in prices appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Bulls in control despite bears’ looming presence

Bitcoin [BTC] and Litecoin [LTC] continued to gain against the US Dollar and breach their respective immediate resistances on April 8.
The largest crypto asset on CoinMarketCap, BTC, held a market cap of $93.08 billion and was priced at $5,278. The digital gold registered a 24-hour trading volume of $17.26 billion and was rallying by 2.25% against the US dollar over the past 24 hours, at press time. The coin surged by 27.90% over the past seven days.
Litecoin [LTC], the fourth largest cryptocurrency, registered a market cap of $5.59 billion and a 24-hour trading volume of $3.15 billion. The crypto-asset was valued at $91.40 and exhibited a decline of 2.78% over the past 24 hours, while registering a significant surge of 50.62% over the week.
1-day BTC chart
Source: TradingView
The candlestick arrangement on BTC’s one-day chart exhibited a major downtrend from $6,459 to $4,186. The supports for the crypto-asset were found at $3,902 and $3,602. The immediate resistances on the BTC daily chart were at $5,663 and $6,562.
Bollinger Bands: The mouth of the bands was open. The divergence of the bands depicted volatility for the coin’s price.
Awesome Oscillator: The closing bar of the indicator was red, suggesting a bearish pattern.
Chaikin Money Flow: The CMF was well above the zero-line, indicating that money was flowing into the coin market. Hence, a bullish trend for BTC was projected.
1-day LTC chart
Source: TradingView
The one-day LTC chart exhibited two uptrends from $32.90 to $45.68 and from $45.68 to $60.31, followed by a minor correction. A minor downtrend from $56.52 to $34.60 was also seen. The coin successfully breached the previously marked resistance at $90 and is anticipated to surpass $100 in another potential price break soon. The support for LTC stood firm at $41.93 and $28.66.
Parabolic SAR: The dotted markers were below the candlesticks, predicting a bullish phase for the silver crypto.
Klinger Oscillator: The reading line was above the signal line, also depicting a bullish pattern for LTC.
MACD: The MACD line was above the signal line. This projected a bullish phase for the coin.
Conclusion
Bitcoin [BTC] exhibited mixed signals, with potential price breakouts expected. Its silver counterpart, Litecoin [LTC], was projected to enjoy strong bullish movements.
The post Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Bulls in control despite bears’ looming presence appeared first on AMBCrypto.
Source: AMB Crypto

Here’s Why The Next Bitcoin Accumulation is Around the Corner

After a minor hiccup, the bitcoin price is looking to resume its rally with a 3.37-percent surge this Sunday.
The BTC/USD instrument was trading at $5,179, according to price average calculated by CoinMarket.com at 0910 UTC. Earlier on Friday, the pair had corrected lower to test $4,849 as potential support. The area saw buying orders outrunning the selling ones, indicating that a majority of investors were in no mood to exit the bitcoin rally on an interim session profit. On the contrary, they were speculating on an extended bull run – just like the one that took place on April 2 and 3.
Bitcoin Acculumation Period Near
Josh Rager, a cryptocurrency analyst with close to 29.4k followers, said the bitcoin price was going to trend as high as $150,000 by the end of July 2023. The trader studied the cryptocurrency’s earlier peak cycles, formed between 2014 and 2017 and each testing a new higher high. He later applied time-and-gains economics to predict the next potential peak, which resulted in $150,000.
Bitcoin Price Projections | Source: Josh Rager
Rager also defined levels that bitcoin would need to break to establish a long-term bullish momentum. It would, of course, happen when traders would feel comfortable in accumulating bitcoins upon a particular stage. Rager identified such buying sentiments by using two metrics: the 100-weekly moving average and the 200-weekly moving average. He stated:

“[In the] previous bear market, Bitcoin accumulated under the 100 MA & supported by the 200 MA. Similar accumulation could happen with 200 MA with the next uptrend starting after breaking above 100 MA. One possible scenario to observe [the] next few months.”

$BTC Accumulation W Chart
Previous bear market Bitcoin accumulated under the 100 MA & supported by the 200 MA
Similar accumulation could happen with 200 MA (wick below) with the next uptrend starting after breaking above 100 MA
One possible scenario to observe next few months pic.twitter.com/BHZ3YN6kHZ
— Josh Rager (@Josh_Rager) April 6, 2019

A Sharp Pullback
Rager’s comments followed when the bitcoin price had already jumped its 100-weekly moving average resistance. On the whole, the market appeared inclined towards $6,000 as their near-term target. Before the Bitcoin Cash hard fork spoiled the party, the bitcoin price was comfortably trending above the said level – and was even called the bottom by many crypto bigwigs, including Fundstrat’s Thomas Lee and Galaxy Digital’s Mike Novogratz.
It became likely for bitcoin bulls to reclaim $6,000 to reinject confidence in the market. At the same time, a mere rejection at the said level held power to push bitcoin back below where it is trading at press time.

Twitterati Crypto Michaël, a full-time trader at Amsterdam Stock Exchange, said bitcoin upside could face rejection in the near-term, leading to a drop. However, he supported Rager’s bullish views in the long-term, just differing with him when it came to the point of accumulation.
“Up to $6,000 to touch resistance briefly and then back down for new support (probably $4,200 – that’s why I don’t expect $4,200 to be tested now) and then this is most likely same yeah.”
The post Here’s Why The Next Bitcoin Accumulation is Around the Corner appeared first on NewsBTC.
Source: New feedNewsBTC.com

Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Bulls reign as coins continue to breach resistances

The cryptocurrency market, propelled by Bitcoin’s [BTC] bull run over the past week, witnessed the breach of several previously set resistances. According to CoinMarketCap, the collective market capitalization stood at $170.9 billion at press time.
Bitcoin [BTC] held a market cap of $87.77 billion and registered a 24-hour trading volume of $17.93 billion. The largest cryptocurrency exhibited a slight decline of 1.07% against the US dollar over the past 24 hours. However, it surged by 22.45%  over the past seven days.
Litecoin [LTC], the fourth largest cryptocurrency on CoinMarketCap, registered a market cap of $5.35 billion and a 24-hour trading volume of $3.92 billion. LTC was priced at $87.49 and exhibited a minor rise of 0.02% over the past 24 hours, while registering a surge of 43.45% over the week.
1-day BTC chart
Source: TradingView
Bitcoin’s one-day chart exhibited a major downtrend from $6,459 to $4,186, with no uptrend in sight. The support for the crypto-asset was found at $4,003, $3,715, and $3,272. BTC breached its previous resistances, rallying beyond $5,000. The immediate resistance for the BTC daily chart stood at $5,654 and $6,459.
Bollinger Bands: The mouth of the bands was diverging, depicting a possible price breakout for the digital coin.
Awesome Oscillator: The closing bars of the indicator were green and predicted a bullish phase for the coin market.
Chaikin Money Flow: The CMF was well above the zero-line, suggesting that money was flowing into the coin market.
1-day LTC chart
Source: TradingView
On LTC’s one-day chart, an uptrend from $32.90 to $45.68 was seen. This was followed by a minor correction, and another uptrend from $45.68 to $60.31. A minor downtrend from $89.56 to $34.60 was also seen. The coin was anticipated to retrace July 2018’s glory by breaching the $90 resistance. The support points for LTC stood firm at $28.66 and $23.64.
Parabolic SAR: The dotted markers were below the candlesticks, suggesting a bullish price pattern for the silver coin.
Klinger Oscillator: The reading line was also above the signal line and exhibited a bullish trend for LTC.
MACD: The MACD line was also above the signal line, predicting a bullish phase for the coin.
Conclusion
The daily chart for both Bitcoin and Litecoin projected strong bullish signals for the coins.
The post Bitcoin [BTC] and Litecoin [LTC] Price Analysis: Bulls reign as coins continue to breach resistances appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC/USD] Price Analysis: Prices side with bulls in short-term, long-term still in turmoil

Bitcoin [BTC] briefly broke the $4,000 sentiment level yesterday. However, it dipped back and was trading at $3,966 at press time. The market cap of Bitcoin was hovering around $70 billion, with a 24-hour trading volume of $9.19 billion.
Most of the trading volume of Bitcoin usually comes from BitMEX exchange via the trade of Bitcoin perpetual contracts against the US Dollar. However, the trading volume of BTC contributed by BitMEX has reduced in recent weeks as it contributed only $469 million, which is 4% of the total Bitcoin trade volume.
FCoin exchange is the top contributor as it contributed $644 million in terms of trading volume via the trading pair ETH/BTC, which is 5.50% of the total trading volume.
1-hour
Source: TradingView
Bitcoin, on the one-hour chart, showed an uptrend that extended from $3,689 to $3,957, while the downtrend extended from $4,163 to $4,039. The prices were testing the immediate support at $3,953. Subsequent supports were seen at $3,848 and $3,696.
The Parabolic SAR markers spawned below the price candles and indicated that the price trend reversed and was headed upwards, whixh was a bullish signal.
The MACD indicator showed a bullish crossover below the zero-line. The MACD histogram on the one-hour chart showed green bars developing in tandem with the crossover.
The Relative Strength Index hit the 60-line and started its descent and was at the 50-line at press time, indicating an equal momentum between the sellers and the buyers.
1-day
Source: TradingView
The one-day chart of Bitcoin showed no signs of an uptrend, however, the downtrend extended from $9,800 to $4,056. The price of BTC bounced off the support at $3,189 on December 15, 2018. The immediate resistance was at $4,056, and subsequent resistance points were at $7,641, and $9,800.
The Aroon indicator showed the Aroon up line and Aroon down line collapsing. This indicated a consolidation movement that BTC was undergoing at press time.
The Stochastic RSI hit the oversold zone and showed a collapsing trend, which passed below the 50-line. This presented a bearish movement for Bitcoin in the longer timeframe.
The Chaikin Money Flow showed a rising trend, which meant that the money flowing into the Bitcoin market was high.
Conclusion
The one-hour chart showed a bullish trend for Bitcoin, which was confirmed by the Parabolic SAR, MACD, and RSI indicators. Unlike the one-hour chart, the one-day chart showed a consolidation phase for Bitcoin as indicated by Aroon, Stochastic RS, and CMF indicators.
The post Bitcoin [BTC/USD] Price Analysis: Prices side with bulls in short-term, long-term still in turmoil appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC] Price Analysis: Coin falls as bulls withdraw from coin market

The largest cryptocurrency in the market, Bitcoin [BTC], saw the bull make an entry and lift the coin’s prices.
However, this was a short-lived trend as the coin fell in the past hour, at the time of writing. The token was valued at $4,017.70, with a market cap of $70.69 billion. The token noted a 24-hour trading volume of $8.5 billion, while it was falling by 0.72% within the past hour. BTC noted a meager growth 0.06% over the past day and by 1.93% over the past week. However, the coin did manage to maintain its price above 4k.
1-hour
Source: Trading view
The one-hour chart for BTC indicated an uptrend from $3,850 to $4,013.02, after which the price of the coin started to decline. The downtrend extended from $4,013.01 to $3,977.77. The largest token drew resistance at $4,013.02. However, due to the falling price, the token failed to mark definitive support.
Bollinger Bands pointed towards a bearish market as the moving average line was above the candlesticks. The bands appeared to have diverged, suggesting increased volatility in the market.
Awesome Oscillator marked a weakened bearish trend.
Chaikin Money Flow indicated a bearish market for the coin as the marker was under the zero mark.
1-day
Source: Trading view
According to the token’s one-day chart, a massive downtrend was observed from $7,359.99 to $3,990, followed by an uptrend from $3,184.28 to $3,846.79. The token traced resistance at $4,110 and support at $3,344.
Parabolic SAR pointed towards a bearish market as the markers were above the candlesticks.
MACD line was above the signal line after a crossover. However, the lines appeared close to each other, indicating another crossover soon.
Relative Strength Index indicated that the buying and the selling pressures had evened each other out. However, the indicator was closer to the overbought zone.
Conclusion 
According to a majority of the indicators like Bollinger Bands, Awesome Oscillator, Chaikin Money Flow, and Parabolic SAR, a bearish trend was forecast for the coin.
The post Bitcoin [BTC] Price Analysis: Coin falls as bulls withdraw from coin market appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC/USD] Price Analysis: Price on a roller coaster ride after briefly crossing $4,000-mark

Bitcoin reclaimed the $4,000 level in a show of great market sentiment as it was a resistance level the coin hadn’t crossed in over two months.
Bitcoin’s price, at press time, was $4,004, with a market cap of $71 billion. The coin’s 24-hour trading volume also surged due to the recent pump, hitting $10 billion. Most of the trading volume for Bitcoin came from BitMEX exchange, which contributed to a whopping $1.47 billion in trading volume.
1-hour
Source: TradingView
The one-hour chart indicated bullish momentum for Bitcoin as the downtrend inclination suddenly changed due to the rally. The downtrend extended from $4,163 to $4.013, while the resistance at $3,953 was tested during the rally.
The Parabolic SAR markers formed below the price candles and indicated a bullish presence in Bitcoin’s one-hour chart.
The MACD indicator underwent a bullish crossover, reaching the 30-line.
The RSI struck the oversold zone, and was heading down towards the 70-line. This indicated a shift in momentum for Bitcoin.
1-day

Source: TradingView
The one-day chart showed a downtrend that extended from $9,800 to $4,000. The support line at $3,122 was holding well, but the resistance at $4,111 was about to be tested. The subsequent resistance was seen at $7,641.
The Aroon indicator showed a strong uptrend for Bitcoin, while the downtrend line was headed to the bottom. This indicated a change in trend in the longer timeframe.
The Stochastic indicator also showed a strong bullish crossover heading towards the oversold zone.
The Chaikin Money Flow tool was above the zero-line and indicated a massive money influx into the Bitcoin markets.
Conclusion
The one-hour chart showed heavy bullish momentum for Bitcoin, as indicated by the SAR and the MACD indicator. However, the RSI indicated a slight decrease in bullish momentum. The one-day chart for Bitcoin showed unanimous massive bullish momentum, unlike the one-hour chart.
The post Bitcoin [BTC/USD] Price Analysis: Price on a roller coaster ride after briefly crossing $4,000-mark appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC/USD] Price Analysis: King coin fails to escape bear as prices stagnate

Bitcoin’s [BTC] hold below the $4,000-mark was a major cause for concern among cryptocurrency users, as many anticipated the bear run to end soon. Other than some sporadic bullish rises in the market, most coins witnessed continued sideways movement. According to the charts, Bitcoin failed to go through any significant bullish price breakout.
1-hour
Source: Trading View
The one-hour chart for Bitcoin showed a downtrend that lowered the price from $3,910.01 to $3,856.95. The support was at $3806.85, while the resistance was at $3929.90.
The Bollinger bands moved parallelly as sideways price movement took hold of the market.
The Chaikin Money Flow indicator was above the zero-line, indicating that the capital coming into the market was more than the capital leaving the market.
The Awesome Oscillator was in a lull, suggesting reduced market momentum for Bitcoin.
1-day
Source: TradingView
Bitcoin’s one-day downtrend was more significant than the one-hour spectrum, as the price drop ranged from $6,270.24 to $3,893.53. The long-term support was holding at $3,188.72.
The Parabolic SAR was above the price candles, suggesting that Bitcoin was going through a bearish trudge.
The Relative Strength Index flattened out in the middle of the graph, an indication of the equilibrium between the selling and buying pressures.
The MACD indicator moved as a conjoined pair above the histogram after a bearish crossover. The MACD histogram was a mix of bearish and bullish signals.
Conclusion
The above-mentioned indicators projected that Bitcoin’s price variation would be constrained by the tussle between the bull and the bear, with a lack of major movement in market cap.
The post Bitcoin [BTC/USD] Price Analysis: King coin fails to escape bear as prices stagnate appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC/USD] Price Analysis: Coin awaits imminent breakout in near future

Bitcoin’s investor sentiment is positive considering the developments in the ecosystem. However, the price of Bitcoin doesn’t seem to be going anywhere as it is consolidating and moving in a sideways trend.
The price of Bitcoin, at press time, was $3,846 and the market cap was at $68 billion. The trading volume was hovering at $8.9 billion in the 24-hour time frame.
The largest contribution to the trading volume was from the exchange, BitMEX, via trade pair BTC/USD.
1-hour
Source: Trading View
The one-hour chart showed a downtrend that extended from $4,163 to $3,859, while the uptrend extended from $3,732 to $3,800. The price was bouncing off the support at $3,848. The subsequent resistance for Bitcoin was at $3,953.
The Parabolic SAR markers indicated a bearish pressure as they had formed above the price candles.
The MACD indicator was nearing the zero-line and indicated a consolidation. The lines, however, indicated a bearish crossover.
The Relative Strength Index showed an equal momentum from both the sellers and the buyers.
1-day
Source: TradingView
The one-day chart of Bitcoin showed a downtrend that extended from $9,800 to $3,875. The support at $3,122 bounced the price towards the immediate resistance at $4,111. The subsequent resistance was seen at $7,641.
The Aroon indicator showed a dominant uptrend that reversed as the downtrend was gaining strength.
The Stochastic RSI came short to hitting the oversold zone and was undergoing a bearish crossover to the bottom.
The Chaikin Money Flow showed the CMF line just above the zero-line and indicated a slight dominance by the buyers.
Conclusion
The one-hour chart showed consolidation and a slight pressure by the bears, which was confirmed by the Parabolic SAR, MACD and the Relative Strength Index indicators. The one-day chart showed a consolidation phase for Bitcoin as well. The Aroon indicator and the CMF showed a bullish trend for Bitcoin, while the Stochastic showed the beginning of a bearish trend.
The post Bitcoin [BTC/USD] Price Analysis: Coin awaits imminent breakout in near future appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC] Price Analysis: Coin awaits fall as bulls leave market

Bitcoin [BTC] was stagnating for the past few days, but avoided a major decline in its price. On 12 March, the coin managed to report minimal growth, after falling over the past day.
At press time, BTC was valued at $3,879.28 with a market cap of $68 billion. BTC registered a 24-hour trading volume of $9.77 billion, while noting a fall of 1.59% over the past day. The token recovered from the fall as it noted a rise of 0.14% over the past hour. In the past seven days, the token noted a rise in price by 2.94%.
1-hour
Source: TradingView
The one-hour chart for BTC noted an uptrend from $3,849.01 to $3,928.91, which was immediately followed by a downtrend from $3,928.92 to $3,854.10. The token noted resistance at $3,909.75, and support at $3,808.34.
Bollinger Bands marked a bearish market as the moving average line was over the candlesticks. The bands appeared diverged, suggesting increasing volatility in the market.
Awesome Oscillator indicated strong bullish momentum.
Chaikin Money Flow indicated a bearish market, as the marker was under the zero-line.
1-day
Source: TradingView
The one-day chart for the largest token traced a massive downtrend from $7,359.99 to $4110. However, a minimal uptrend was noted as well, with the coin’s price moving up from $3,184.28 to $3,692.36. The token noted resistance at $4,110, and support at $3,344.
Parabolic SAR marked a bearish reign for the coin as the markers were aligned above the candlesticks.
MACD line was under the signal line and pointed towards an imminent vermilion market.
Relative Strength Index indicated that the buying and selling pressures had evened each other out.
Conclusion
According to indicators on the one-day and one-hour charts, a bearish market was forecasted for the king coin.
The post Bitcoin [BTC] Price Analysis: Coin awaits fall as bulls leave market appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC/USD] Price Analysis: Coin breaks from sideways movement as prices rise

Bitcoin, the king of all cryptocurrencies briefly touched the $4,000 range following which, it tumbled down again to the $3,900 range. The rally that started a few days back has brought back excitement and volatility to the once-stale cryptocurrency market.
The price of Bitcoin at press time was $3,938 and the market cap was at $69.68 billion. The 24-hour trading volume of Bitcoin crossed the $8 billion mark and was at $8.87 billion. BitMEX is the largest contributor to the total trading volume as it contributes 16.80% i.e, $1.81 billion  of it via the trading pair BTC/USD.
Although a lot of the traders expected Bitcoin to make a “Bart move,” Bitcoin followed the contrarian theory and broke to the upside.
1 Hour
Source: TradingView
The uptrend for Bitcoin in the one-hour time frame extends from $3,356 to $3,887. Since Bitcoin was in a sideways movement which was followed by an uptrend rally, there is no sight of a downtrend yet.
The support lines are seen at $3,358, $3,498, and $3,577 while the next resistance that Bitcoin has to break is at $4,043. However, considering the market sentiment, $4,000 could also act as a strong resistance point for Bitcoin.
The Parabolic SAR markers indicate bullish movement as the markers have begun forming below the price candles.
The MACD indicator for the aforementioned time frame indicates an imminent bullish crossover as the MACD and the Signal line are in close proximity to each other.
The Relative Strength Index shows that the buyers have a slight momentum due to the recent rally.
1 Day
Source: TradingView
The one-day chart for Bitcoin, which is a longer time frame, shows bullish signs as well due to the recent rally. The downtrend extends from $9,027 to $3,917. The rally needs to be much higher for the formation of a clear uptrend. The support can be seen at $3,198 while the next resistance can be seen at $4,111.
The Aroon indicator shows an Aroon green line that has struck the 100-line, indicating that the uptrend is in full swing.
The Stochastic indicator shows that the lines have crossed the oversold threshold in a bullish crossover.
The Chaikin Money Flow indicator shows that the money flow line has crossed above the zero, indicating a bullish scenario for BTC.
Conclusion
The one-hour time frame, confirmed by the MACD, SAR, and RSI is indicating a bullish outlook for BTC. The indicators, CMF, Stochastic and Aroon of the one-day time frame confirm the same.
The post Bitcoin [BTC/USD] Price Analysis: Coin breaks from sideways movement as prices rise appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC]’s Golden Cross Theory: The bottom for Bitcoin is closer than expected

Opinion
Bitcoin had suffered a massive attack from the bears in 2018 and at the start of 2019. The prices seem to be stuck in a loop, bouncing between resistance points, tracing a sideways movement.
The price hasn’t seen any huge movements ever since it fell down from the $6,000 range, and it is undergoing small movements which are negligible. A lot of prominent traders, investors, and enthusiasts have been trying to figure out the bottom for Bitcoin and have formed a lot of connections in relation to other boom and bust cycles of Bitcoin from the past.
One such theory is the Golden Cross Theory which has been floating around the internet and gaining traction. Golden Cross, as per the definition from Investopedia, is a candlestick pattern that is a bullish signal in which a relatively short-term moving average crosses above a long-term moving average.
The golden cross is a bullish breakout pattern formed from a crossover involving a security’s short-term moving average [such as the 15-day moving average] breaking above its long-term moving average [such as the 50-day moving average] or resistance level.
History tends to repeat itself, so there is much that can be learned from the history of Bitcoin; to be precise, the golden cross that occurred on October 27, 2018. That particular golden cross took Bitcoin from $246 to ~$20,000. Considering the current scenario for Bitcoin, the moving averages are indicating, yet again, the formation of a golden cross in the near future.
Source: TradingView
Bitcoin, on January 04, 2015, fell from $457 to $191, creating a particular gap between the 200 and 50-day moving averages. This gap is remarkably similar to the one that is currently being formed between the same moving averages, as seen in the above chart.
As per the above theory and the history, the golden cross for Bitcoin might happen somewhere in the month of September 2019. Although Bitcoin won’t perfectly follow the history, considering the 286 days it took for Bitcoin to attain the golden cross, the bull run might happen on September 26, 2019.
The post Bitcoin [BTC]’s Golden Cross Theory: The bottom for Bitcoin is closer than expected appeared first on AMBCrypto.
Source: AMB Crypto

Bitcoin [BTC/USD] Price Analysis: Sideways trend resumes as bears suck volatility out of the market

Bitcoin has been moving stagnantly in a sideways fashion for over a week now, ever since its short-term pump on 8 February 2019.
The price of Bitcoin, at press time, was at $3,576 with a market cap of $63 billion. The 24-hour trading volume of Bitcoin is at $5.89 billion, and most of the trading volume for Bitcoin is coming from BitMEX by trading BTC perpetual contracts against the US Dollar.
1-hour
Source: TradingView
The one-hour chart for Bitcoin shows an uptrend that extends from $3,366 to $3,577, while the downtrend in the current time frame is not yet formed. The support at $3,358 is far from being tested ever since the above-mentioned rally. The resistance at $3,498 was breached a few days back however while the subsequent resistance at $3,577 is currently being tested.
The Parabolic SAR markers have spawned below the price candles, pushing the price upwards in line with a bullish trend.
The MACD indicator shows a bullish crossover as the MACD and the signal lines have crossed each other and are headed up.
The Relative Strength Index is slightly above the 50-line but below the 60-line. This indicates that the buying momentum is increasing for Bitcoin.
1 Day
Source: TradingView
The one day chart for Bitcoin shows a dominant downtrend that extends from $9,800 to $3,590. There isn’t a major rally which would lead to the formation of an uptrend. The support at $3,189 is holding good since November of last year. However, the support at $4,111 has now become a resistance line. The long term resistance for Bitcoin can be seen hanging at $7,641.
The Aroon indicator shows a further decline of the uptrend which was due to the recent short-term rally that occurred during the second week of February.
The Stochastic indicator is showing a bearish crossover in which, the Stochastic line and the signal line are both moving downwards.
The Chaikin Money Flow reads above the zero mark and indicates a decrease in the momentum of buyers i.e., the buyers getting exhausted while simultaneously the sellers gaining momentum.
Conclusion
The one-hour chart for BTC shows a relatively positive outlook as indicated and confirmed by the MACD, SAR and the RSI indicators. However, the longer time frame indicates a completely opposite trend for Bitcoin i.e., bearish trend, as indicated by the Aroon, Stochastic, and CMF indicators.
The post Bitcoin [BTC/USD] Price Analysis: Sideways trend resumes as bears suck volatility out of the market appeared first on AMBCrypto.
Source: AMB Crypto