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Bullish Bitcoin Price Formation Hints At Short Term Move Above $6K

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Ever since the start of April when Bitcoin price rallied nearly a grand in roughly an hour, bullish sentiment has returned to the crypto market, and many have begun confidently calling the bitcoin bottom as in.

Following the massive price surge, Bitcoin price has consolidated above $5,000, and is forming an extremely bullish pattern on price charts, suggesting that a move up above $6,000 may be the next stop for the leading cryptocurrency by market cap.

Crypto Analyst: Bitcoin Price To Break Above $6,000 In Short Term

Bulls have managed to maintain the upper hand after early April’s powerful rally through resistance at $4,200 to over $5,000, and the price of Bitcoin is currently trading at $5,300. The price of the first ever cryptocurrency has been ranging between a local high of $5,450 and $5,000, suggesting that price consolidation is occurring in the market.

However, according…

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Blockchain News News

Is It Time for a ‘Blockchain’ Brexit?

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Pindar Wong is the chairman of VeriFi (Hong Kong) Ltd and a member of CoinDesk’s advisory board. An internet pioneer, he co­founded the first licensed Internet Service Provider in Hong Kong in 1993. The following article originally appeared in CoinDesk Weekly, a custom-curated newsletter delivered every Sunday exclusively to our subscribers.


There is a crisis in governance. I’m not talking about bitcoin, but Brexit.Britain’s exit from the European Union (EU) is not so much a technical crisis between a ‘hard fork’ and a ‘soft fork’ but a legitimacy crisis. Yet the solution to its core dilemma — politically deciding between a ‘Hard Brexit’ and a ‘Soft Brexit’ — may actually lay in harnessing blockchain technology’s great potential as an economic governance system for the digital age. One thing’s clear: the current system is failing. The impasse in Britain requires a radical rethink. Unless even more time is…

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Bitcoin News News

Bitcoin Price Surges 20% to $4.8k in Minutes: Is the Bear Trend Officially Over?

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The bitcoin price recorded a massive surge from $4,200 to nearly $4,800 within minutes, demonstrating a 20 percent gain in a short time frame.

Bitcoin Charts. Bitcoin CoinMarketCap

Bitcoin surges 20% in a matter of minutes, fueled by a short squeeze (source: coinmarketcap.com)

The $4,200 resistance level, which bitcoin has struggled to break out of for more than four months, was broken cleanly for the first time on early Tuesday morning, which led most technical indicators to turn and allow the dominant cryptocurrency to surge substantially.

IS THE BITCOIN BEAR TREND OVER?

Earlier this week, economist and global markets analyst Alex Krüger said that a price movement of bitcoin above the $4,200 level will mark the end of the bear trend beginning January 2018, lasting 16 months.

“This is not a call. Not a matter of aging well or not. A break above $4,200 technically…

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Bitcoin News News

Bitcoin (BTC) Price Posts Biggest Quarterly Gain Since Late 2017

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  • Bitcoin closed the first quarter of 2017 with 10.91 percent gains – the biggest quarterly gain since the fourth quarter of 2017.
  • While bearish exhaustion is evident, a bullish reversal above $4,236 still remains elusive. A sustained break above that level may not happen in the next few months, as the price seems to be mimicking the bottoming pattern seen in nine months leading up to the October 2015 bull breakout.
  • Bitcoin’s short-term outlook remains bullish as Friday’s close above $4,055 bolstered the bullish setup on the daily chart. The cryptocurrency could test the February high of $4,190 this week.
  • However, a persistent failure to clear $4,130 – the high of a doji candle created on Saturday – may invite selling pressure and yield a drop to the crucial 30-day moving average, currently at $3,938.

Bitcoin made double-digit gains in the first three months of 2019, marking its…

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Bitcoin News News

Bitcoin: BTC Price Upswing Could Gather Momentum Above $4K

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  • Bitcoin price stayed above the $3,850 support and rebounded above $3,940 against the US Dollar.
  • The price surged higher and settled above the $3,900 and $3,940 resistance levels.
  • This week’s followed crucial bearish trend line was cleared with resistance at $3,945 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair is now back in a positive zone and it could extend gains above the $3,980 and $4,000 resistances.

Bitcoin price made a sharp U-turn from new weekly lows against the US Dollar. BTC is back above the $3,940 pivot level and it could accelerate gains above the $4,000 barrier in the near term.

Bitcoin Price Analysis

Yesterday, we saw an extended decline in bitcoin price below the $3,900 support against the US Dollar. The Bitcoin BTC/USD pair traded to a new weekly low at $3,850. Later, the pair formed a decent support base near the $3,880 level….

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