Bitcoin sellers in ‘disbelief’ or BTC price wouldn’t still be at $41K — Analyst

Bitcoin (BTC) closed July above $41,000 in a “bullish engulfing” candle that dramatically upends its previous downtrend. In a tweet on Aug. 1, investor and entrepreneur Alistair Milne joined many celebrating a classic return to form for BTC price action. Bitcoin refuses to flip bearish After seeing three straight monthly red candles in a row, BTC/USD held onto late gains to post a monthly close that few had anticipated. Despite the dip to $29,000, bears failed to stay in the driving seat as July drew to a close as resistance…

3 reasons why Ethereum price might not hit $5,000 anytime soon

Ether (ETH) price has been in a downward spiral ever since the Ethereum co-founder Vitalik Buterin presented at the StartmeupHK Festival 2021. In a fireside chat session on May 27, Vitalik stated that several internal team conflicts caused the Proof-of-Stake migration to delay its launch. As reported by Cointelegraph, ‘Phase One,’ which introduces scalability through sharding, has been postponed to 2022. Furthermore, DeFi’s inherently decentralized nature might not be entirely beneficial because the sharding-style processing would need to run transactions through a relay chain. Ether price in USD at Coinbase.…

Pro traders look for this classic pattern to spot Bitcoin price reversals

Every trader aims to buy low and sell high, but only a few are able to muster the courage to go against the herd and purchase when the downtrend reverses direction.  When prices are falling, the sentiment is negative and fear is at extreme levels, but it’s at times like these that the inverse head and shoulders (IHS) pattern can appear. The (IHS) pattern is similar in construction to the regular H&S top pattern, but the formation is inverted. On completion, the (IHS) pattern signals an end of the downtrend…

Bitcoin ‘supercycle’ sets up Q4 BTC price top as illiquid supply hits all-time high

Bitcoin (BTC) is gearing up for a comeback which should lead it to repeat classic bull run years 2013 and 2017, analysts are arguing. As $42,400 local highs appeared on July 31, narratives around the market are flipping back to a bullish Bitcoin “supercycle.” Bulls come out for 2021 close Bitcoin has been busy repairing the impact of the China miner rout since mid May, but last week’s price advances were stronger than most anticipated Related: Bitcoin open interest mimics Q4 2020 as new report ‘cautiously optimistic’ on BTC rally Rather…

Bitcoin records rare 10-day winning streak as BTC price taps $42K ceiling

Bitcoin (BTC) shot to new highs of $42,400 on July 31 in a surprise attack on range resistance which sellers failed to squash. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Bitcoin seals 10 green candles in first since 2012 Data from Cointelegraph Markets Pro and TradingView showed BTC/USD gaining for a tenth straight day across exchanges, reaching $42,420 on Bitstamp. A subsequent cooling-off preserved most of the gains, with Bitcoin circling $41,900 at the time of writing, still up over 8% over the past 24 hours. In trading circles, talk focused…

Traders forecast $3K Ethereum price but derivatives data suggests otherwise

Ether (ETH) rallied 35% over the past ten days and reclaimed the critical $2,300 support, but the crucial $2,450 local top hasn’t been tested since June 17. Part of the recent recovery can be attributed to the London hard fork, which is expected to go live on Aug. 4.  Traders and investors view the EIP-1559 launch as a bullish factor for Ether price because it is expected to reduce gas fees. However, Ether miners are not thrilled with the proposal because the proof-of-work model will no longer be necessary after…

Bitcoin traders express mixed emotions about what’s next for BTC price

The rumor that Amazon would accept cryptocurrency payments sparked a wave of bullish enthusiasm across the crypto market earlier in the week but now this sentiment has begun to wane as Bitcoin (BTC) bulls face stiff resistance at the $40,000 level.  Data from Cointelegraph Markets Pro and TradingView shows that bears have managed to fend off multiple attempts to flip the $40,000 level to support and defense of this zone continued on July 29 as Bitcoin’s stagnant price action and added to concerns that the price could fall back to…

Ethereum price can hit $14K if the March 2020 chart fractal holds

Ethereum’s native asset Ether (ETH) faces prospects of closing above $14,000 sometime in 2021 based on its current trend’s striking similarity with the one from last year. Ether price fractal First spotted by user TradingShot, the Ethereum fractal involves three technical indicators: a 50-day simple moving average (50-day SMA), a Fibonacci channel, and a relative strength index (RSI). Ether closed above its 50-day SMA in July 2021, the first time since the May 2021 bearish correction. As TradingShot noted, breaking above the said moving average wave historically predicts bull runs.…

COIN price fails to impress as more crypto firms are eager to go public

2021 has been a rollercoaster year for the crypto industry, with Bitcoin (BTC) scaling up to an all-time high of $65,000 earlier this year in April, only to dip down to the sub $30,000 zone just months later. However, a moment that is widely considered by many to be a tipping point for the industry — at least in terms of mainstream legitimization — was when Coinbase (COIN) made its debut on Nasdaq via a direct listing. Leading up to April 14, the day of the aforementioned listing, COIN’s reference…