Not sure if the bulls are back? Here’s how the golden cross spots trend reversals

The most important aspect in trading is to correctly identify the long-term trend. Once this is done, the rest of the steps are not very difficult because all a trader needs to do is look for buying opportunities in an uptrend and selling opportunities in a downtrend.  In reality, many traders complicate the process by waiting for lower levels to buy in a bull market and missing a large portion of the rally. Then, when the trend reverses and the price starts falling, the same traders start buying, which usually…

Here’s why one analyst says Bitcoin will outperform Ethereum in the short term

In terms of price potential, Bitcoin (BTC) is staring at the possibility of outperforming Ether (ETH) in the short term. So believes David Lifshitz, chief investment officer at ExoAlpha — a Paris-based investment management service — who noted that Bitcoin’s upside potential in the near term is higher than that of Ether’s. He said so after spotting a recent shift in the BTC/ETH ratio. In detail, BTC/ETH compares the trend momentum of Bitcoin and Ether. A lower reading suggests that Bitcoin’s price is rising slower than Ether’s. Conversely, a higher BTC/ETH…

Bitcoin Dips From $40K, Here’s Why Uptrend Is Still Intact In BTC

Bitcoin price started a downside correction from well above $40,000 against the US Dollar. BTC is now trading near a major support at $38,000, where the bulls are currently active. Bitcoin started a downside correction after it failed to stay above $40,000. The price is currently just below $39,000 and the 100 hourly simple moving average. There was a break below a key contracting triangle with support near $39,900 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to start a fresh increase…

Bitcoin Consolidates Above Support, Here’s What Could Trigger Fresh Rally

Bitcoin price is trading in a positive zone above the $40,000 level against the US Dollar. BTC is likely to start a fresh rally if it clears the $41,200 resistance zone. Bitcoin remained in a positive zone above the $39,000 and $40,000 levels. The price is currently well above $39,000 and the 100 hourly simple moving average. There is a major contracting triangle forming with resistance near $40,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is likely to start a fresh rally once…

Here’s how pros safely trade Bitcoin while it range trades near $40K

Investors tend to define the market as either bullish or bearish, but sometimes the price can remain within a specific range for an extended period.  This type of sideways movement is not necessarily stable because cryptocurrency markets have high volatility that stems from a range of uncertainties and the early adoption cycle. For example, investors who concluded that the Bitcoin (BTC) bull run was over after the first week of 2021 probably regret that decision. Bitcoin price at Coinbase in USD, Jan. 2021. Source: TradingView Starting on Jan. 8, Bitcoin…

Here’s Why Ethereum (ETH) Follow Bitcoin and Rally Above $2,500

Ethereum is trading in a positive zone above the $2,400 support zone the 100 hourly SMA against the US Dollar. ETH price is likely to rally if there is a clear break above $2,500. Ethereum is trading in a positive zone above the $2,400 and $2,420 support levels. The price is now trading above $2,450 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $2,400 on the hourly chart of ETH/USD (data feed via Kraken). The pair could correct…

Here’s how Bitcoin’s impending death cross could be a contrarian buy signal

Bitcoin’s (BTC) succession of sharp corrections from its all-time high at $64,900 has turned investor sentiment negative, at least for the short-term. While some analysts believe the bottom may have been hit, others are warning of a further fall due to the “Death Cross” pattern that, at the time of writing, is on the verge of completion.  For new traders, the name death cross itself brings a lot of negativity and a feeling of impending doom. This sentiment can trigger selling panics, especially if the market has already been going…

Ethereum Revisits $2,400, Here’s What Could Trigger More Downsides

Ethereum failed to surpass $2,600 and started a fresh decline against the US Dollar. ETH price is holding the $2,400 support, but it is likely to face sellers near $2,550. Ethereum made two attempts to gain strength above $2,625, but failed. The price is now trading well below $2,550 and the 100 hourly simple moving average. There was a break below a key rising channel with support near $2,520 on the hourly chart of ETH/USD (data feed via Kraken). The pair mut stay above $2,400 to avoid more downsides in…

Here’s 5 ways investors can use the MACD indicator to make better trades

The Moving Average Convergence Divergence, also called the MACD, is a trend-following momentum indicator used widely by traders. Although the MACD is a lagging indicator, it can be very useful in identifying possible trend changes. BTC/USDT daily chart. Source: TradingView The MACD oscillates above and below a zero line, also known as the centerline. The shorter moving average is subtracted from a longer moving average to arrive at the value of the MACD. A signal line, which is the exponential moving average of the MACD completes the indicator. The blue…

Here’s what would happen to Bitcoin if the government tried to take it over

On June 7, the United States government task force seized more than $2 million in Bitcoin (BTC) to pay a ransom following an attack on the Colonial Pipeline system. A warrant filed with the U.S. District Court for the Northern District of California shows that authorities recovered 63.7 BTC. As news of the recovery spread through mainstream media, some outlets suggested that the U.S. government somehow hacked the Bitcoin address in order to extract the funds. For example, University of Michigan professor and New York Times contributor Justin Wolfers tweeted:…