Bitcoin Awaits Decisive Price Move as Trading Range Tightens

Bitcoin Awaits Decisive Price Move as Trading Range Tightens 1  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

Bitcoin Awaits Decisive Price Move as Trading Range Tightens View Bitcoin’s retreat from highs near $3,900 seen yesterday has poured cold water over the bull mood generated by Wednesday’s quick recovery from lows near $3,650. Therefore, the immediate outlook is neutral. A UTC close above $3,897 (previous day’s high) would validate Wednesday’s long-tailed candle and open the doors to re-test of the last week’s high of $4,190. This looks likely as early signs of bullish reversal have emerged on longer duration charts. A break below $3,658 (Wednesday’s low) would strengthen…

MKR, THETA, ENJ, MET: These 4 Cryptos Outperformed the Market in February

MKR, THETA, ENJ, MET: These 4 Cryptos Outperformed the Market in February 3  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

MKR, THETA, ENJ, MET: These 4 Cryptos Outperformed the Market in February With February’s crypto market activity now etched in the record books, signs are emerging that a long crypto winter may be close to an end. The total market value of all cryptocurrencies jumped 14.14 percent over the 28-day period – the first monthly gain since July, according to CoinMarketCap, largely due to signs of life in bitcoin. The leading cryptocurrency by market capitalization, BTC appreciated by 12.1 percent to end February by breaking its record six-month losing streak. But while BTC…

Bitcoin Price May Rise in March Despite Month’s Bearish Track Record

Bitcoin Price May Rise in March Despite Month's Bearish Track Record 7  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

Bitcoin Price May Rise in March Despite Month’s Bearish Track Record View Bitcoin could end the five-year March losing streak with solid gains if resistance at $4,190 (high of last week’s inverted bullish hammer) is convincingly scaled in the next week or two. The cryptocurrency reinforced a bullish triangle breakout witnessed last week with a quick recovery from sub-$3,700 levels yesterday. This “buy the dip” mentality indicates scope for a break above the recent high of $4,190. The focus would shift to the primary bearish trend seen on the monthly…

Bitcoin Price On Track to End Six-Month Losing Streak

Bitcoin Price On Track to End Six-Month Losing Streak 9  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

Bitcoin Price On Track to End Six-Month Losing Streak View Bitcoin appears on track to snap its six-month losing streak and close February in the green for the fifth consecutive year. BTC may remain better bid in March, as the weekly chart is signaling bearish exhaustion. The short-term outlook remains bullish, with BTC holding above $3,714 and a bounce from 10-candle MA on the three-day chart could yield a move toward $4,000. On the downside, a UTC close below $3,714 would validate a bearish outside reversal candle seen in the…

Bitcoin Price Holds Above $3,700 But Bulls Need Progress Soon

Bitcoin Price Holds Above $3,700 But Bulls Need Progress Soon 12  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

Bitcoin Price Holds Above $3,700 But Bulls Need Progress Soon View Bitcoin’s defense of $3,700 is encouraging, but a positive follow-through is needed soon to invalidate a bear flag pattern that has developed on the hourly chart. A UTC close below $3,714 would validate Sunday’s bearish outside reversal candle and confirm a bullish-to-bearish trend change. The probability of BTC closing today below $3,714 would rise if the cryptocurrency drops below $3,764 in the next few hours confirming a bear flag breakdown. A bear flag breakdown, if confirmed, would open the…

Bitcoin Shorts Dropped to 11-Month Lows During Sunday’s Sell-Off

Bitcoin Shorts Dropped to 11-Month Lows During Sunday's Sell-Off 14  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

Bitcoin Shorts Dropped to 11-Month Lows During Sunday’s Sell-Off The number of short bets placed against the price of bitcoin on at least one notable exchange declined to their lowest total in 11 months on Sunday. Data from Bitfinex shows that bitcoin’s 8 percent drop in price on Sunday was accompanied by a 12 percent drop in the notional value of open short positions, with the total amount of such trades dropping from a daily high of 19,604 to 17,085 BTC, the lowest amount allocated on the platform since March…

Bitcoin’s Bull Trend At Risk After High-Volume Price Dump

Bitcoin's Bull Trend At Risk After High-Volume Price Dump 15  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

Bitcoin’s Bull Trend At Risk After High-Volume Price Dump View Bitcoin dropped 9.3 percent yesterday on the back of high volumes, invalidating the triangle breakout witnessed last Monday. A UTC close below $3,714 today would validate Sunday’s bearish outside reversal candle and open the doors to levels below $3,400. The longer duration charts are signaling bearish exhaustion, however, and any drop to $3,400 or below could be short-lived. A move above $4,190 (previous day’s low) is needed to revive the bullish outlook. Bitcoin (BTC) nosedived overnight, clouding the interim bullish outlook,…

Long-Term Bitcoin Price Indicator Turns Bearish, Suggesting Bottom May Be In

Long-Term Bitcoin Price Indicator Turns Bearish, Suggesting Bottom May Be In 18  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

Long-Term Bitcoin Price Indicator Turns Bearish, Suggesting Bottom May Be In A lagging indicator has turned bearish for the first time in four years, suggesting bitcoin’s price may have bottomed out and that a new bull run could begin this year. As of press time, bitcoin’s 50-week moving average has dropped below the 100-week MA, confirming a bearish crossover – the first since April 2015. Long-term bearish crossovers, however, tend to occur at the end of a big bear move, with prices rallying soon after, as MAs are based on…

Back Above $4k: Bitcoin’s Price Jumps to a Two-Month High

Back Above $4k: Bitcoin's Price Jumps to a Two-Month High 19  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

Back Above $4k: Bitcoin’s Price Jumps to a Two-Month High Bitcoin’s price climbed back above $4,000 on Saturday for the first time in over two months as the broader cryptocurrency market flashed green. At 18:00 UTC on Saturday, the world’s largest cryptocurrency by market capitalization surpassed the $4,000 mark to ultimately reach $4,146 – its highest price since Dec. 24 of last year, according to pricing data from CoinDesk.  Bitcoin’s price has since pulled back slightly, now trading at $4,104, but current figures still represent a considerable 20 percent increase since the beginning of the…

Bitcoin Remains On Hunt For $4.2K Despite Price Consolidation

Bitcoin Remains On Hunt For $4.2K Despite Price Consolidation 20  PASSIVE INCOME IDEAS BITCOIN AND BLOCKCHAIN

Bitcoin Remains On Hunt For $4.2K Despite Price Consolidation View Bitcoin’s low-volume price consolidation has taken the shape of a bull flag on the 4-hour chart. A break above $3,930 would confirm a flag breakout and open the doors to $4,330 (target as per the measured move method). The flag breakout looks likely, as the longer duration charts are biased bullish: Monday’s high-volume triangle breakout is still valid, while a bullish crossover between the 5- and 10-day exponential moving averages (EMAs) on the 3-day chart indicates a positive shift in…