First Since 2017: Bitcoin Price Logs Double-Digit Gains for Third Week

View Bitcoin has recorded double-digit gains for three consecutive weeks, a feat last seen during the height of the bull market in 2017. BTC’s quick recovery from Friday’s low of $6,178 indicates “buy the dip” mentality is quite strong. Further, the daily and weekly charts are biased bullish. Prices, therefore, could rise to $8,500 (July 2018) this week. Before such a rise, however, we may see a correction to $7,500–$7,200, according to the hourly chart. The short-term outlook would turn bearish only if prices find acceptance below the 30-day moving…

About That Orange B… The History of Bitcoin’s Logos

Can a logo symbolize the ethos of a project? An industry? An entire movement? This is perhaps too much meaning to attribute to any one design, but if any logo has come close to the task, it’s that of bitcoin. Belonging to no corporation, no in-house graphic design team at a shiny Silicon Valley startup, bitcoin’s logo has given the faceless project’s many adherents an image to hold on to. And not only to hold on to – but to emblazon on shirts, stick to laptops and stamp on physical…

Bitcoin Suffers Biggest Intraday Price Drop for Over a Year

View Bitcoin tanked by $1,702 early on Friday, the biggest intraday drop since January 2018. On the way back up, the hourly chart shows scope for re-test of former support-turned-resistance at $7,619. A bounce to $7,619, if any, could be short-lived with prices falling back to $6,178 (daily low) over the weekend, as both the 4-hour and daily charts are biased bearish. A bounce from the historically strong support of the 30-day moving average (MA) at at $5,986 would imply an end to the price pullback. Amid extremely overbought conditions,…

Bitcoin Faces Price Correction Toward $7.6K, Technical Charts Suggest

View Bitcoin printed a 10-month high of $8,390 earlier today only to fall back quickly below $8,000, strengthening the bearish divergence of the 4-hour chart relative strength index (RSI). The daily RSI is also teasing bearish divergence. BTC risks falling to a potential double-top neckline at $7,619. A break lower would open the doors to sub-$7,000 levels (target as per the measured height method). The case for correction in the next day or two would weaken if the price rises back above $8,300. Bitcoin (BTC) could be in for a…

Bitcoin Price Rally Stalls As Ether, XRP Shine

View Alternative cryptocurrencies are flying high while bitcoin is having a breather above $8,000. Notably, ether (ETH) has hit a seven-month high of $235 and looks set to extend gains further toward $256 (Sept. 22 high) in the near-term. XRP, meanwhile, has confirmed a bull breakout. With hourly chart indicators diverging in favor of the bears and the daily relative strength index (RSI) reporting overbought conditions, bitcoin is looking increasingly vulnerable to a price pullback to the key rising trendline, currently placed above $7,200. Bitcoin could challenge Tuesday’s high of…

Bitcoin’s Monthly Price Gains Already Highest Since November 2017

View Bitcoin hit a fresh 10-month high of $8,335 on Bitstamp earlier today and is currently reporting its largest monthly gain since November 2017. A bearish divergence of the hourly chart relative strength index and overbought conditions signaled by longer-duration RSIs indicate scope for a pullback to $7,400. A rally to $8,500 could be seen in the U.S. trading hours if BTC invalidates the above bearish chart pattern with a move over $8,335. Bitcoin (BTC) clocked fresh 10-month highs earlier today and currently appears on track to post its largest…

Up $1,200: Bitcoin Price Surges Above $8K

Bitcoin’s price has continued to extend its recent rally to a price level beyond $8,000. At 21:30 UTC today, the price world’s largest cryptocurrency rose as high as $8,195 on Coinbase, marking a 17.4 percent or $1214 increase during today’s trading session. In the past 24 hours alone, Messari data reveals more than $27 billion worth of bitcoin was traded across exchanges, whereas $2,1 billion was traded solely on the 10 exchanges Bitwise Asset Management identified as the only exchanges reporting honest volume figures. While vigorous, today’s development is not…

$7,900: Bitcoin’s Price Extends Gains to Hit 9-Month High

The price of bitcoin (BTC) surpassed $7,900 today, jumping 16 percent in the process to reach a high not seen in more than nine months. Bitcoin (BTC), with a market capitalization that now accounts for 59.8 percent of the total cryptocurrency market, jumped 16 percent from its opening price of $6,800 to reach $7,889 at 15:10 UTC – its highest price since July 31, 2018, according to CoinDesk’s price data. The data further shows that a high of $7,946.01 has been reached during Monday trading. Now trading a $7,805.10, current figures represent…

Bitcoin Has Recovered Nearly 25% of Its Bear Market Price Losses

View Bitcoin has erased nearly 24 percent of the price losses seen in 12 months to December 2018. Sunday’s high above $7,500 could come into play again if a contracting triangle on the hourly chart ends with a bull breakout. A UTC close below $6,762 would validate the bull exhaustion signaled on Sunday and allow a deeper correction to $6,000. Dips to $6,000, if any, could find bids as the longer duration charts are biased bullish. Despite a pullback from 9-month highs overnight, bitcoin (BTC) has still clawed back nearly a…

Bitcoin Price Hits 8-Month High Close to $7K

View Bitcoin printed an eight-month high of $6,964 earlier today. Further strengthening the long-term bullish bias is a bull cross of the 100- and 200-day moving averages (MAs) – the first since July 2015. A sustained move toward the next resistance at $7,411 (September 2018 high) could be preceded by a price pullback, as the 14-day relative strength index (RSI) is currently reporting overbought conditions. Pullbacks, if any, will likely be reversed by the historically strong 30-day moving average (MA), currently at $5,450. The long-term bullish outlook would be invalidated…