Bitcoin Price Remains Range bound, Why There’s Hope of a Fresh Rally

Bitcoin started an upside correction from the $18,150 zone against the US Dollar. BTC is back above $19,200 and a break above $19,500 could spark a fresh rally. Bitcoin is showing a few positive signs above the $19,000 level. The price is trading above $19,000 and the 100 hourly simple moving average. There is a key contracting triangle forming with support near $19,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could stage a fresh rally if there is a clear move above the…

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Three Reasons Why NFT Market Is Bound to Rise and Shine

In early July 2020, the total sales of nonfungible tokens, or NFT, hit $100 million. And that is just the start. As the DeFi market reached $4 billion in locked value and leading cryptocurrencies started their rally to yearly highs, we might soon see a hockey-stick growth pattern in the NFT space. Let’s have a look at why it might be the case. Where do NFTs come from? It’s no secret that the best thing a project can do during a crypto winter is to build — and that’s exactly…

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Fakeout or Breakout? Technicals Suggest Bitcoin Is Bound For a Correction

Bitcoin’s lackluster price action reached a pivotal point throughout July. As the range where it was trading was narrowing over time, BTC’s price reached the lowest levels of volatility ever recorded in its 11-year history, according to Arcane Research.  “With only 11 days left of July, we’re currently seeing the tightest monthly price range in Bitcoin’s history! We have never seen a price range this low (currently 6%), with the all-time low being 9% from May 2015,” said data-driven analytics firm. Bitcoin’s Monthly Price Range Hits New All-Time Low. (Source:…

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