Binary trading platforms with better performance and payouts
Technical Analysis
Bitcoin (BTC) is trading above the $47,000 level, playing exactly as reported by Finbold on January 27. Now, BTC may … Continue reading
The post Bitcoin sell-off alert: Price drop below $40k imminent? appeared first on Finbold.
Bitcoin’s RSI divergence signals correction, 10x Research said.
Key indicators tracking Bitcoin’s blockchain activity, miner flows and the 200-day moving average suggest bitcoin is far from being overvalued and could continue to rally in 2024.
The pullbacks have become less deep over the past three weeks, suggesting the building up of bullish sentiment, one observer said.
The bullish pattern comes months ahead of bitcoin’s fourth mining reward halving.
The ascent in bitcoin’s dominance rate is consistent with the bullish breakout in June, which marked the end of a prolonged range play between 38% and 48%.
Ether’s daily chart (TradingView/CoinDesk)
An inverse head-and-shoulders pattern, one of the most trusted indicators known to presage major price rallies, is building in the altcoin market.
Moving average crossovers are lagging Indicators. That said, the latest death cross is consistent with the dour regulatory outlook.
A throwback is a countertrend move where prices reverse direction and move back towards a breakout point, paving the way for a strong rally.