您现在的位置是:BTC Is Preparing To Contest The $38,620 Level >>正文
BTC Is Preparing To Contest The $38,620 Level
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛5139人已围观
简介Bitcoin (BTC) broke out of the sideways trading channel and headed past $38,000 as the bulls confirm...
Bitcoin (BTC) broke out of the sideways trading channel and headed past $38,000 as the bulls confirm BTC’s position above the 23.6% Fib retracement level
The largest cryptocurrency by market cap managed to establish its position above the $34,577 mark on Tuesday, creating a great position for a price spike. BTC is currently pushing above the $38,000 mark, and is possibly aiming at the $40,000 level.
Bitcoin fundamentals and past price performance
Bitcoin’s overall outlook is extremely bullish, to say the least. Various on-chain analysis firms, as well as individual analysts, made six-figure price predictions for 2021. However, these predictions are actually based on various indicators and metrics, rather than just feelings or optimism.
BTC managed to post week-over-week gains of 19.66%, while ETH managed to gain 27.30%. At the time of writing, BTC is trading for $38,000 (and heading up), which represents a price decrease of 1.15% when compared to the previous month’s value. The largest cryptocurrency by market cap currently boasts a market value of $704,71 billion.
BTC/USD 12-hour chart price breakdown
The largest cryptocurrency by market cap’s short-term outlook changed to bullish ever since it created a double bottom formation at the 38.2% Fib retracement level. Its price is now trying to pass the recent highs of $38,620 after finding strong support in the 21-day EMA and the 23.6% Fib retracement level.
The aforementioned $38,620 level could be considered a pivot point that will decide BTC’s short-term future.
BTC/USD 12-hour price chart. Source: TradingView
BTC’s RSI on the 12-hour time-frame is slowly ascending towards the overbought area as BTC pushes its price up. Its current value is sitting at the 62.87 mark.
BTC/USD hourly chart price breakdown
Bitcoin’s hourly time-frame shows us the influx of buyers that took BTC above the 23.6% Fib retracement level, and then a steady push towards the upside that got supported by the 21-hour EMA. Bitcoin’s price is currently heading towards the recent high of $38,620, and a strong push above it will most likely be translated into a contesting of the $40,000 level. However, if BTC fails to reach past the recent high, it may spiral down and retest the $34,577 level.
While its downside is well-protected by the 21-hour EMA, its resistance is strong, and BTC has a solid chance of not reaching past it on such low (comparatively) volume.
BTC/USD 1-hour price chart. Source: TradingView
What’s next for Bitcoin?
While Bitcoin’s short-term outlook is not as bright as some other cryptocurrencies’, its long-term overview is incredibly bullish. With institutions pouring their money into BTC and using it as an alternative to cash reserve rather than a speculative asset, the cryptocurrency is bound to grow.
Tags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/2265.html
相关文章
What is Overbit?
BTC Is Preparing To Contest The $38,620 LevelOverbit is a cryptocurrency exchange that offers cross-market trading for crypto, forex and commodit...
阅读更多
Ripple price could hit $0.75 if bulls repeat the 70% spike seen last week
BTC Is Preparing To Contest The $38,620 LevelRipple (XRP) traded around $0.27 at the start of last week before jumping nearly 70% to highs near $...
阅读更多
All crypto trading platforms in Hong Kong will now need to comply with SFC regulations
BTC Is Preparing To Contest The $38,620 LevelHong Kong’s Securities and Futures Commission declares that all crypto platforms with operatio...
阅读更多
热门文章
- Nearly 50% of Bitcoin used for trading is stored on five centralized exchanges
- China to use robots to take care of its aging population
- Kyrgyzstan president believes blockchain can lead to fair elections
- NASA's VIPER rover is halfway built as the new year approaches
- Autopilot Trading Bot
- Spain's PLD Space postpones first launch due to risk of forest fires
最新文章
Meet Rabbit r1: Your handy AI sidekick turning talk into action
Ripple price could hit $0.75 if bulls repeat the 70% spike seen last week
World’s first suitcase
‘World’s first’ 35kV superconducting power cable tested, claims China
Tesla claims Powerwall saves more than backup generators
Apple confirms next