Crypto analyst TechDev believes Bitcoin is on the verge of its most significant breakout yet. Historical Patterns and Technical Indicators TechDev’s analysis shows that Bitcoin has historically experienced parabolic price increases, known as “blowoff tops,” followed by corrections. However, the 2021 peak deviated from this pattern, suggesting a potential change in market behavior. Breakout from…
Euphoria Wave Bitcoin’s price has been volatile lately, but the good news is that the bull run may not be over yet. Recent data shows that Bitcoin has been in a “euphoria wave” for the past few months. This means that a large percentage of Bitcoin owners are making a profit. This phase typically lasts…
Bitcoin’s price has been falling after it couldn’t break through the $72,983 resistance level. It’s now trading below its 1-hour and 4-hour moving averages, which could mean a change in trend. Technical Analysis 4-Hour Chart: Bitcoin has fallen below its moving average, indicating a potential downward trend. The MACD histogram is below zero, suggesting a…
Confidence on the Rise Crypto investors are showing renewed faith in Bitcoin, as evidenced by a surge in accumulation by large-scale investors. Despite Bitcoin’s recent price struggles, investors remain optimistic about its long-term prospects. Bitcoin Leaves Exchanges Crypto analyst Ali Martinez reports a significant outflow of Bitcoin from centralized exchanges. Over $2.5 billion worth of…
Accumulation Phase CryptoQuant CEO Ki Young-Ju noticed similarities between Bitcoin’s current behavior and mid-2020. Back then, prices were stagnant, but there was a lot of activity behind the scenes. Young-Ju’s charts show a surge in the “realized cap for new whales” in mid-2020. This means large investors were buying up Bitcoin. Despite the current sideways…
Bearish Indicators Point to a Crash In May, crypto analyst Xanrox predicted a decline in Bitcoin’s price, which has since come to pass. Xanrox identified several bearish indicators: FVGAP at $62,000: A gap in the price chart that often signals a retracement. Elliott Wave Perspective: The completion of Wave 1 and the expected correction in…
BlackRock Overtakes Grayscale BlackRock’s iShares Bitcoin Trust has become the largest Bitcoin fund globally, dethroning its rival, Grayscale Bitcoin Trust (GBTC). As of May 28, BlackRock’s Spot Bitcoin ETF held $19.68 billion in assets under management (AUM), while Grayscale’s Bitcoin ETF held $19.65 billion. Grayscale’s Decline Since its conversion into an ETF in early 2024,…
Analyst Josh Olszewicz believes Bitcoin is on the verge of a major breakout if it can overcome the crucial $72,000 resistance level. Technical Analysis Ichimoku Cloud: Bitcoin’s price is above the cloud, indicating a bullish trend. Fibonacci Extensions: The 1.0 extension is at $71,897.29, aligning with the key resistance level. Volume Profile: Declining volume suggests…
The Halving Effect: A Catalyst for Growth A crypto analyst predicts that Bitcoin could reach $156,000 by May 2025. This prediction is based on the “halving” phenomenon, where the number of Bitcoins rewarded for mining is cut in half every four years. Historically, this has led to price increases: 2012 halving: 8,300% increase 2016 halving:…
What Whales Are Doing Major Bitcoin holders, known as “whales,” are changing the distribution of liquidity. They’re reducing sell orders at higher prices and increasing buy orders between $60,000 and $67,000. This is pushing Bitcoin into a narrower price range. Bullish Outlook Despite recent price fluctuations, analysts remain optimistic about Bitcoin’s long-term prospects. They cite…
