Bullish Case For Bitcoin: Profit Taking Turns Into Buying The Blood

Bitcoin price recently saw a $2,000 correction after months straight of surging. At the start of the selloff, signs pointed to profit-taking as the primary reason for the pullback. However, after greed turned to fear, big-money investors have begun buying the blood right out from under investors who are panic-selling the cryptocurrency at a loss. Here’s why this is incredibly bullish for Bitcoin and what this could mean for a new uptrend taking hold. Bitcoin Whales Buy The Blood As Small Time Investors Panic Sell At a Loss The crypto…

Ethereum’s Moving Averages Point to “Bullish Continuation” With a $1,000+ Target

Ethereum has seen some slight weakness throughout the past couple of days. This has come about despite the intense strength that Bitcoin has displayed, signaling that the resistance ETH faces between $380 and $400 may be insurmountable. Although ETH has yet to post any sort of technical breakout, it remains a strong likelihood that the digital asset sees further upside in the mid and long-term. One trend seen while looking towards ETH’s daily moving averages is incredibly bullish and is strikingly similar to one seen in 2016. If history repeats…

Has Bitcoin Confirmed A Bullish Retest Of “Meme” Downtrend Line?

Bitcoin price may be at among its most critical moments in its short just over a decade history. The cryptocurrency has over the last several days retested the all-important “meme” downtrend line extending from all-time high as resistance turned support. After successfully holding, the bullish retest could be confirmed, and the last dip before Bitcoin’s next bull run could already be behind us. Has Bitcoin Confirmed A Bullish Retest Of The “Meme” Downtrend Line? Bitcoin price has spent three years trapped within a downtrend. This downtrend was capped off by…

This Top Macro Analyst Is Bullish on Ethereum’s Nexus Mutual (NXM)

Ethereum’s decentralized finance space has been catching a lot of attention over the past few weeks. This is for good reason: since the start of the year, the value of tokens locked in DeFi has surged in excess of 1,000%. Certain projects, too, have come under the scope of top investors. One macro analyst, Remi Tetot of Global Macro Investor and Real Vision, thinks that Nexus Mutual, an Ethereum-based decentralized mutual, is a project with strong potential. Related Reading: CNBC’s “Mad Money” Host Jim Cramer Is Finally Buying Bitcoin Remi Tetot…

Bullish pennant hints at Bitcoin price breakout to $11,300

Bitcoin (BTC) price appears to have entered the weekend on the good foot after a relatively uneventful Friday saw the price continue to fluctuate between $10,200-$10,400.  Cryptocurrency daily market performance snapshot. Source: Coin360 At the time of writing the daily chart shows the top-ranked digital asset tightening into a pennant and since making a double bottom at $9,838, BTC has etched a pattern of higher lows which have now pinched the price into a tighter range.  BTC/USDT daily chart. Source: TradingView While trading volume still leaves a lot to be…

Chainlink is Setting Up for a Move Higher as Bullish Signs Emerge: Analyst

Macro uncertainty within the global markets has had a trickle-down effect, causing Bitcoin to see consolidation and weakness, which has, in turn, led Chainlink and other altcoins to see similar price action. While looking towards LINK’s recent price action, the cryptocurrency has been caught within a trading range between $11.20 and $13.20, with these two levels being visited and respected on multiple occasions throughout the past few days. One analyst is now noting that where the entire market trends in the near-term will likely depend on Bitcoin’s reaction to its…

Bitcoin’s Recent Drawback May Mark a Bullish Retest as Bulls Defend $10,000

Bitcoin is currently showing some serious signs of strength. The benchmark cryptocurrency has flown past its $10,400 resistance and is now en route to setting fresh weekly highs. This marks a notable rebound from lows of $9,900 that were set on multiple occasions throughout the past couple of weeks. The buying pressure between this level and $10,000 was rather significant, as it was defended on multiple occasions by buyers keen on maintaining BTC’s mid-term market structure. It now appears that the crypto is poised to see further upside in the…

Chainlink is “Replicating” Its Previous Bullish Cycle, But It May Still Plunge Lower

Chainlink, like many major altcoins, has witnessed incredibly mixed price action in recent weeks. The cryptocurrency’s general trend has been largely dependent on that of Bitcoin, as the benchmark digital asset has been firmly guiding the entire market throughout the past few days and weeks. This has mostly exposed altcoins to bearish momentum, as BTC has been flirting with posting a major breakdown as it trades around $10,000. This level has been ardently defended on multiple occasions throughout the past couple of days, with each dip below it resulting in…

Bitcoin ‘plankton’ wallets hit record — plus 4 more bullish BTC charts

More and more people are buying Bitcoin (BTC) since the 2020 coronavirus crash — and it doesn’t matter how rich they are, data shows. Part of a series of bullish charts circulating this week, statistician Willy Woo highlighted the growth in both high and low-value wallets. Woo: BTC whales putting money where their mouth is According to the data, compiled by on-chain monitoring resource Glassnode, Bitcoin whale entities — wallets controlled by a single high-worth individual — keep growing in terms of how much BTC they control. Whale numbers themselves…

Bitcoin is Conducting a “Bullish Retest” as It Hits Critical Support Level

Bitcoin is ardently attempting to hold above $10,000, as this crucial psychological support level has been broken and reclaimed on multiple occasions throughout the past several hours. Earlier today, the cryptocurrency showed some significant signs of weakness as it pushed below this level, with bears sending it as low as $9,900 before it saw a sharp rebound that led it all the way up to $10,100. It has been facing some resistance here, however, with bulls struggling to garner any clear upwards momentum as heightened selling pressure persists. That being…