Bitcoin bulls appear to be back, but a strengthening U.S. dollar, a new wave of COVID-19 infections and low trading volumes threaten the current recovery.
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This classic trading pattern signaled that Bitcoin price had hit a top
In technical analysis, traders interpret the head and shoulders formation as a strong sign that a trend reversal is in process.
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Bitcoin price hints at ‘megaphone’ bottom pattern, and a breakout toward $40K
The megaphone-shaped pattern reflects growing disagreement between investors over the next Bitcoin trend bias.
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$60K is now more likely for Bitcoin than $20K, Bloomberg’s senior strategist asserts
The analyst also treats the latest crypto ban in China as bullish for Bitcoin and the U.S. dollar.
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3 reasons why traders think Bitcoin price bottomed at $29,500
Bitcoin’s bounce above $32,000 boosted the mood among traders who believe the bottom is in, but some analysts caution that heavy resistance blocks the road
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Bitcoin traders watch $32K ahead of Friday’s $330M BTC options expiry
Bulls managed to find some momentum, but holding the $32,000 support level will determine who is the victor of Friday’s $330 million BTC options expiry.
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