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Crypto Bulls Rejoice As Bitcoin (BTC) Monthly Candle Closes Above Resistance

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At the start of April, Bitcoin price broke through resistance at $4,200, triggering a massive rally across the crypto market and a cascading effect of trader’s stops being hit, creating an hour-long price spike of nearly $1,000 per BTC. Analysts believe the initial surge was caused by a single actor who had a strategy in mind, planning to cause as much price impact as possible.

Regardless of the reason behind the surge in Bitcoin price to over $5,000 where it is currently ranging, the powerful upward movement was enough to revive bullish sentiment throughout the cryptosphere. Now, as the April monthly candle closes bulls are rejoicing over the fact Bitcoin has closed over resistance for the first time in “ages,” and has even withstood the blow of the Bitfinex and Tether FUD that emerged just days before the monthly close.

April Aftermath: Crypto Analysts and Traders See Bull Run Beginnings in Bitcoin

Yesterday’s daily candle close in Bitcoin price charts, was also the close of the monthly candle for April 2019 – a month that has been among the most bullish witnessed for Bitcoin in months, possibly since the leading cryptocurrency’s previous all-time high back in December 2017. Bitcoin and second-ranked crypto by market cap Ethereum saw their trading volume surges to peak crypto hype bubble levels.

In the end, April closed in the green as expected, at a price of roughly $5,272 on Coinbase. On Bitfinex, an exchange currently embroiled in a scandal involving borrowing from Tether reserves to hide an $850 million loss and where Bitcoin has significantly diverged in price, price per BTC closed setting highest daily candle body close since the start of 2019.

Despite the Tether turmoil, Bitcoin has remained resilient and bulls confident in further upward movement, a sentiment that is widely shared across crypto Twitter by most crypto traders and analysts.

Analysts aren’t yet ruling out a re-test of former resistance turned support, however, most expect that support to hold if Bitcoin price ever gets there, and would view the correction as healthy, potentially resetting indicators for another surge upward.

Bitcoin closed the month at a 28.5% price increase, adding over $1,200 per BTC to the price of the most important cryptocurrency in the space.

Where Bitcoin goes from here is anyone’s guess, but many are expecting the aforementioned retest of resistanceM turned support, or a rally to test former support turned resistance at $6,000. Should Bitcoin break above $6,000 and close a monthly candle, much of the crypto market would be confident that the beginnings of a new bull run had started.

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Bitcoin’s 3 Day Price Charts Point to an Impending ‘Golden Cross’

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A bitcoin price indicator is about to turn bullish for the first time since the early stages of the 2016-17 bull market.

The 50-candle moving average (MA) on bitcoin’s three-day chart is in a solid upward trajectory and looks set to cross above the 200-candle MA in the next few days.

That would be the first golden crossover on the three-day chart since early February 2016. CoinDesk reported on a golden cross for bitcoin’s daily chart back in April.

Seasoned traders often refer to that long-term bull market signal as a lagging indicator. After all, the MA studies are based on historical data and tend to lag prices, which also means they have limited predictive abilities at best.

While that is true for most crossovers, the one that is about to happen on the three-day chart has proved its mettle as a reliable bull market indicator in the past.

3 day chart (2016-2017)

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Bitcoin News News

Garrick Hileman Explains Why Bitcoin (BTC) is on The Rise This Year!

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Garrick Hileman, head of research at Blockchain, explains what’s behind the cryptocurrency’s near-200% year-to-date rally (watch the interview above)

 

Dr Garrick Hileman is head of research at Blockchain and research associate at the London School of Economics

Garrick is best known for his research on monetary and distributed systems innovation, particularly cryptocurrencies and blockchain technology.

Hileman Garrick was ranked as one of the 100 most influential economists in the UK & Ireland. He is regularly invited to speak and share his research and perspective with public sector institutions, including the CIA, US Army and Naval War Colleges, Federal Reserve, Bank of England, Bank of International Settlements, and the Financial Stability Board, as well as media, including the BBCCNBCFTWSJ, and NPR.

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Bitcoin News News

Bitcoin Price Passes $10,000 as Cryptocurrency’s Spectacular Recovery Continues

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The price of bitcoin has broken above $10,000 (£7,855) for the first time since March 2018, as the cryptocurrency’s remarkable surge in value continues.

Bitcoin passed the milestone after experiencing gains of more than 10 per cent over the last 24 hours.

The price jump saw the world’s largest cryptocurrency reach as high as $10,831, according to the CoinMarketCap price index, taking its overall market capitalisation close to $200 billion.

Bitcoin’s most recent run of good form began in early February, when it was trading at well below $4,000.

It had reached this price after more than a year of steady declines saw its price withdraw dramatically from its late 2017 peak of close to $20,000.

Bitcoin’s recent run has drawn comparisons from some with bitcoin’s run in 2017, with some hoping it can go beyond its previous record high.

“This really is amazing,” one crypto enthusiast wrote on Twitter. “It has 2017 written…

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Blockchain News Press Releases

Satoshi Studio Launches First Ever Blockchain-Certified Sneakers

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Paris, 30th of May 2019. French brand Satoshi Studio announces the launch of their first sneakers. The Satoshi_one is the first pair of shoes certified on the Ethereum blockchain. More high-end products will come from Satoshi Studio thanks to their innovative financing campaigns.

Satoshi Studio was founded in 2018. The Parisian brand is influenced by the Tech industry and Crypto culture. It aims to create a place for itself as a reasonably priced high-end brand. To reach that goal, it will not use traditional channels of communication, striving instead to connect directly with its young and tech-focused community.

To be able to regularly offer new products and avoid traditional seasonality, the brand will launch several crowdfunding campaigns per year. Satoshi Studio believes in responsible shopping habits: they will only produce the right amount, no more, no less. The sneakers will be offered at a reasonable price, without compromising on quality.

Authors Name
Lucas Goldlust
Company Name
Satoshi Studio
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Bitcoin News News

Why We Could See The Price of Bitcoin Quadruple Within Just a Few Months

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Bitcoin is ballooning to new highs… but can it last?

Compound interest might be the most powerful force in the universe, but FOMO can’t be far behind, especially as it relates to bitcoin.

We’ve seen the “fear of missing out” contribute to a nosebleed rise in the price of bitcoin BTCUSD, before, and Fundstrat’s Thomas Lee believes we’re about to see it play out again — but even more pronounced.

The outspoken bitcoin backer told clients this week the world’s top cryptocurrency could ride a wave of FOMO all the way up to $40,000 “within a few months,” thanks to better transparency and a breach of the psychological $10,000 barrier.

He pointed to Grayscale Bitcoin Trust GBTC, as a great way to partake in a rally that would be most welcomed by the crypto bulls who had to suffer through a 74% drop in the price of bitcoin last year.

“Bottom line: Crypto winter looks over,” Lee said….

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Bitcoin News News

Bitcoin (BTC) Price Eyes Chart Pattern That Kicked Off Bull Market in 2015

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  • Bitcoin’s 50- and 100-candle moving averages on the three-day chart look set to produce a bullish crossover – a sign of bull market momentum. Back in October 2015, the same cross marked the start of a long-term bull market.
  • This time, BTC has already rallied more than 180 percent ahead of the bull cross. As a result, we may not see a big move to the higher side immediately following the confirmation of the bull cross.
  • Prices could rise to $8,400 in the next 24 hours, having witnessed a bearish channel breakout on Wednesday. A break below key 4-hour chart support at $7,910 would weaken the case for a rise to $8,400.

A long-term bitcoin (BTC) price indicator is about to turn bullish for the first time in nearly four years.

The 50-candle moving average (MA) on the three-day chart is trending north and could soon cross above the 100-candle,…

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