Bitcoin Settles Below $50K, What Could Initiate A Fresh Rally

Bitcoin declined heavily and it even spiked towards $40K against the US Dollar. BTC is recovering, but it must clear $50K for a steady increase in the near term. Bitcoin is attempting a recovery wave above the $47,000 and $47,500 levels. The price is now trading below $50,000 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $48,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a decent upward move if there is…

What Ethereum 2.0 Looks Like As Vitalik Buterin Celebrates Its Birthday

The Ethereum 2.0 upgrades of the consensus layer built by multiple teams in the ecosystem promise to bring a “more scalabe, more secure, and more sustainable Ethereum”, and now Vitalik Buterin celebrates 1 year since the proof-of-stake Beacon Chain went live. Eth2 or Serenity aims to “support 1000s of transactions per second” so the high gas fees problem can be solved. The Beacon Chain, one of  Ethereum 2.0’s distinct sections, has allowed users to be Eth2 validators by staking Ethereum, reportedly earning up to 10% annually, diminishing miners for transaction…

Ethereum Holds Key Support, What Could Spark A Fresh Rally

Ethereum is facing resistance near the $4,600 zone against the US Dollar. ETH must stay above $4,450 to start a steady increase in the near term. Ethereum is consolidating above the key $4,450 support zone. The price is now trading above $4,500 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $4,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh rally as long as it is above the $4,450 level and the 100…

Bitcoin Close Below $56K Could Spark A Larger Decline

Bitcoin is struggling to surpass the $57,200 resistance against the US Dollar. BTC is declining and it might accelerate lower if there is a close below the $56,000 support. Bitcoin is struggling to move above the $57,000 and $57,500 levels. The price is now trading below $57,000 and the 100 hourly simple moving average. There is a key contracting triangle forming with support near $56,100 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could accelerate lower if there is a clear break below the…

Is Another Black Swan Brewing?

Back in March of 2020, those taking position ahead of the Bitcoin halving were blindsided by the Black Thursday market selloff, driven by panic at the onset of the COVID pandemic and subsequent lockdowns. With the new Omicron strain making headlines, and lockdowns once again considered, could the cryptocurrency market be facing another dangerous macro storm and catastrophic collapse? Omicron & The Return Of The Black Swan Trend Line According to Wikipedia, a black swan is “an event that comes as a surprise, has a major effect, and is often…

Ethereum Topside Bias Vulnerable If It Breaks This Key Support

Ethereum trimmed gains from the $4,800 resistance against the US Dollar. ETH is down 5% and it might decline further if there is a break below $4,350. Ethereum failed to clear the $4,800 resistance and started a fresh decline. The price is now trading near $4,500 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $4,600 on the hourly chart of ETH/USD (data feed via Kraken). The pair could decline further below $4,500 if there is a close below…

Bitcoin Shows Bearish Signs, Risk of Breakdown Below $56K

Bitcoin failed again to clear the $58,500 resistance against the US Dollar. BTC is declining and it might accelerate lower below the $56,000 support in the near term. Bitcoin is struggling to move above the $58,000 and $58,500 levels. The price is just trading above $57,000 and the 100 hourly simple moving average. There was a break below a key bullish trend line with support near $57,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could accelerate lower if there is a clear break…

Ethereum Rallies 5%, Why ETH Could Surge To New ATH Above $5K

Ethereum gained pace above the $4,550 resistance against the US Dollar. ETH is trading above $4,700 and it could accelerate further higher in the near term. Ethereum is trading in a bullish zone above the $4,550 level. The price is now well above $4,650 and the 100 hourly simple moving average. There was a break above a major ascending channel with resistance near $4,560 on the hourly chart of ETH/USD (data feed via Kraken). The pair could continue higher if it stays above the $4,650 support level in the near…

Bitcoin Aims Fresh Run To $60K, Why Bulls Could Face Hurdles

Bitcoin is trading above the $56,200 support against the US Dollar. BTC must clear $58,500 to start a major increase in the coming sessions. Bitcoin is struggling to gain pace above the $58,000 and $58,500 levels. The price is still trading above $57,000 and the 100 hourly simple moving average. There is a major contracting triangle forming with resistance near $58,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $58,500 resistance to start a steady increase in the near term. Bitcoin…

Bitcoin “Speculative Chart” Suggests Cryptocurrency To Soon Blast off

As institutions, corporations, countries, and more buy into Bitcoin, the cryptocurrency is beginning to transition from a speculative asset to a macro financial asset much like gold, oil, and others. But before that happens, the top cryptocurrency by market cap is mimicking Jesse Livermore’s “speculative chart” with incredible accuracy and precision. If this rare chart pattern referred to as a Livermore Accumulation Cylinder continues to play out, the Bitcoin bull cycle is about to come to a dramatic climax. We’re also taking a deep dive into the legendary life and untimely…