Category: Cryptocurrency News

Crypto analyst Titan of Crypto has highlighted a bullish indicator on the Bitcoin chart. The analyst also revealed what happened the last time this pattern formed, suggesting that the leading crypto could enjoy a significant price rally soon enough.  Golden Cross Forms On The Bitcoin Chart Titan of Crypto revealed in an X (formerly Twitter) post that Golden Cross has formed on Bitcoin’s 2-month chart. He added that the leading crypto company experienced a “massive” rally every time this bullish indicator appeared on its 2-month chart. His accompanying chart showed that this happened last in 2021 when Bitcoin rose from around $13,000 to above $60,000.  Related Reading: Shiba Inu Accumulation: Whales Pull Out $4 Million From Exchanges, Can SHIB Recover? While it remains to be seen what will happen this time, there is no doubt that a significant rally is long overdue for the leading crypto, considering how its price has stagnated since reaching a new all-time high (ATH) of $73,000 in March earlier this year. In another X post, Titan of Crypto suggested that the much-anticipated Bitcoin rally could begin in October.  The crypto analyst noted how the historical bearish September always sets the stage for risk assets like Bitcoin and US stocks to end the year with a big bounce. Meanwhile, Titan of Crypto is still confident about Bitcoin’s bullish outlook despite calls that it is now in a downtrend. He stated that Bitcoin is still bullish on the monthly timeframe. He added that the crypto is still holding its Tenkan and claimed that its bullish outlook will remain intact as long as it holds above the Tenkan line at $49,900.  Based on the accompanying chart he shared, Bitcoin needs to break above $71,000 to reach a new ATH in this market cycle. The crypto analyst had earlier predicted that the flagship crypto could reach a market high of $120,000 by 2025.  October Is The Month To Look Forward To Crypto analyst Rekt Capital also echoed a sentiment similar to Titan of Crypto, suggesting that October is the month to look forward to. He noted that history suggests Bitcoin should enjoy a breakout from the reaccumulation range in the next two weeks. However, he added that there is a higher chance that the breakout will occur in October.  Related Reading: AAVE Breakout: Why A 1,710% Surge Is On The Horizon October is historically a strong month for the leading crypto, especially in halving years like this one. A potential Bitcoin rally in October is expected to extend into November and December. Rekt Capital highlighted how the crypto has enjoyed three straight months of upside in the fourth quarter of the 2016 and 2020 halving years.  At the time of writing, Bitcoin is trading at around $57,700, up over 3% in the last 24 hours, according to data from CoinMarketCap.  Featured image created with Dall.E, chart from Tradingview.com

Ethereum price is holding gains above the $2,300 level. ETH could gain bullish momentum if it clears the $2,380 resistance zone. Ethereum is showing positive signs but facing hurdles near $2,400. The price is trading above $2,320 and the 100-hourly Simple Moving Average. There is a key contracting triangle forming with resistance at $2,365 on the hourly chart of ETH/USD (data feed via Kraken). The pair must clear the $2,400 resistance to continue higher in the near term. Ethereum Price Aims $2,500 Ethereum price seems to be forming a base above the $2,250 level like Bitcoin. Recently, there was a decent increase above the $2,350 level but the price struggled near $2,400. A high was formed at $2,390 and the price is now consolidating. There was a minor decline below the $2,350 level. The price dipped below the 50% Fib retracement level of the upward wave from the $2,278 swing low to the $2,390 high. However, the bulls were active near the $2,320 level and the 61.8% Fib retracement level of the upward wave from the $2,278 swing low to the $2,390 high. Ethereum price is now trading above $2,320 and the 100-hourly Simple Moving Average. On the upside, the price seems to be facing hurdles near the $2,365 level. There is also a key contracting triangle forming with resistance at $2,365 on the hourly chart of ETH/USD. The first major resistance is near the $2,380 and $2,400 levels. A close above the $2,400 level might send Ether toward the $2,465 resistance. The next key resistance is near $2,550. An upside break above the $2,550 resistance might call for more gains toward the $2,650 resistance zone in the near term. Another Drop In ETH? If Ethereum fails to clear the $2,400 resistance, it could start another decline in the near term. Initial support on the downside is near $2,320. The first major support sits near the $2,300 zone. A clear move below the $2,300 support might push the price toward $2,250. Any more losses might send the price toward the $2,200 support level in the near term. The next key support sits at $2,120. Technical Indicators Hourly MACD – The MACD for ETH/USD is losing momentum in the bullish zone. Hourly RSI – The RSI for ETH/USD is now above the 50 zone. Major Support Level – $2,320 Major Resistance Level – $2,400

A crypto analyst is eyeing Ether’s funding rate rising above 0.015 to see if “the calm before the storm breaks.”

submitted by /u/Barbarossabros [link] [comments]

Bitcoin price is holding gains above the $57,500 resistance. BTC is now showing positive signs and might aim for a move toward $60,000. Bitcoin is attempting a fresh increase above the $57,200 support zone. The price is trading above $57,500 and the 100 hourly Simple moving average. There is a key contracting triangle forming with resistance at $58,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could climb higher if it clears the $58,500 and $58,650 resistance levels in the near term. Bitcoin Price Could Extend Gains Bitcoin price started a decent increase after it broke the $57,000 resistance zone. BTC was able to climb above the $57,500 resistance. The pair even cleared the $58,000 resistance zone. However, the bears seem to be active near the $58,500 resistance zone. A high is formed at $58,450 and the price is now consolidating gains. There was a minor decline below the $58,000 level. The price even dipped below the 23.6% Fib retracement level of the upward move from the $55,550 swing low to the $58,450 high. Bitcoin is now trading above $57,500 and the 100 hourly Simple moving average. On the upside, the price could face resistance near the $58,500 level. There is also a key contracting triangle forming with resistance at $58,500 on the hourly chart of the BTC/USD pair. The first key resistance is near the $58,650 level. A clear move above the $58,650 resistance might start a steady increase in the coming sessions. The next key resistance could be $59,200. A close above the $59,200 resistance might spark more upsides. In the stated case, the price could rise and test the $60,000 resistance. Another Drop In BTC? If Bitcoin fails to rise above the $58,500 resistance zone, it could start another decline. Immediate support on the downside is near the $57,600 level. The first major support is $56,650 or the 61.8% Fib retracement level of the upward move from the $55,550 swing low to the $58,450 high. The next support is now near the $56,220 zone. Any more losses might send the price toward the $55,550 support in the near term. Technical indicators: Hourly MACD – The MACD is now losing pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $57,600, followed by $55,550. Major Resistance Levels – $58,500, and $58,650.

Tesla and Spacex CEO Elon Musk has warned that without substantial government reform, laws and regulations will worsen annually, potentially stifling major initiatives. He has reiterated his call for significant U.S. government changes and agreed to help former President Donald Trump lead a new government efficiency commission, an idea he proposed. Musk believes reducing wasteful […]

As fast as money started to flow, they changed they mind about Bitcoin. What a surprise! submitted by /u/WineMakerBg [link] [comments]

No matter who wins the US presidential contest this November, the trajectory of Bitcoin seems to be set to remain strong despite growing partisan fervor. Related Reading: AAVE Excites Investors With 20% Gain As Developments Roll Out Market observers and crypto enthusiasts mostly believe that the long-term future of Bitcoin is safe. Former President Donald Trump’s pro-crypto posture inspired recent hope that is starting to wane, although this has not affected the general state of the sector. US Election: Effect On Bitcoin’s Value Although some forecast instantaneous changes in price depending on election outcomes, the longer-term impact on Bitcoin could be negligible. Head of private clients at Swan Bitcoin Steven Lubka thinks, independent of any outcome, Bitcoin might hit six figures by 2025. James Davies of Crypto Valley Exchange also remarked, suggesting that fears about a future Kamala Harris presidency affecting Bitcoin’s price are overblown. He notes that while crypto businesses may struggle, the broader industry will keep growing. With Bitcoin’s growing institutionalization—especially with US Bitcoin ETFs recently added—it is clear that its fundamental ideas are good. Short-Term Variability And Market Vibe The election can cause some temporary fluctuation in the price of Bitcoin. While a Harris victory would trigger a brief downturn, analysts predict that if Trump wins there might be a big price increase. Tyrone Ross of 401 Financial, on the other hand, thinks that the outcome of the election will have only a negligible effect on the performance of Bitcoin within the next year or so. The macroeconomic considerations and present market trends are perhaps more important in determining the price swings of Bitcoin. Having peaked at $73,000 early in the year, Bitcoin has traded between $54,000 and $65,000 for most of 2024. Recent price fluctuations are attributed more to global economic conditions and interest rate changes rather than US election news. Related Reading: Analysts Predict XRP ‘Mega Pump’ And ‘Perpetual Cycle’ – Details Looking Beyond Political Uncertainty Despite all the political noise, bitcoin has proven incredibly resilient. Daniel Cawrey from Tonkeeper says the election has done a great deal to raise awareness for the bitcoin space in earnest. In contrast to the Biden administration, which has largely tried to sweep crypto under the rug, Kamala Harris has tended to interact with industry participants – albeit in a way that at least could bring more clarity to guidelines and regulations. As Cawrey notes, more regulatory clarity resulting from this higher engagement would help the sector. Lubka agrees; Bitcoin has flourished even in adverse surroundings. Despite political and legal obstacles, Bitcoin has shown resilience throughout its history surpassing numerous assets. In essence, Bitcoin’s long-term future is bright even if the US presidential election can cause some transient market reactions. The rising institutional acceptance of cryptocurrencies and more general economic considerations drive them forward and help them to be positioned for success independent of political drama. Featured image from Pexels, chart from TradingView

Standard Chartered has reaffirmed its projection that bitcoin will hit new all-time highs by the end of 2024, regardless of the U.S. election outcome. The bank’s digital assets head predicts bitcoin could reach $125,000 under Trump or $75,000 under Harris, with temporary drops under a Harris presidency. Regulatory concerns loom, but other factors, like U.S. […]