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Bitcoin (BTC) Price Analysis — Golden Cross to Push it to $10,000 by Mid-June?

Price Predictions
Tue, 05/26/2020 - 14:26
Denys Serhiichuk
Which direction is Bitcoin (BTC) headed?
Bitcoin (BTC) Price Analysis — Golden Cross to Push it to $10,000 by Mid-June?
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Bitcoin (BTC) is the only coin from the top 10 list that has remained in the green zone. The biggest loser is Bitcoin SV (BSV), having declined by 1.7% over the past day.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

Surprisingly, the market share of Bitcoin (BTC) has not increased since altcoins have been falling. Moreover, the dominance index has gone down and is now at 64.8%.

BTC’s market share
BTC’s market share

The relevant data for Bitcoin is below.

  • Name: Bitcoin

  • Ticker: BTC

  • Market Cap: $162 776 931 068

  • Price: $8 853.27

  • Volume (24h): $30 216 369 296

  • Change (24h): 0.54%

The data is relevant at press time.

BTC/USD: Is there enough power for a blast?

Bitcoin (BTC) has retested the $9,000 mark. However, it failed to hold there, confirming the false breakout. Even though the short-term prospects of the main crypto are not currently positive, the coin has been able to rise by 0.5% since yesterday.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the hourly chart, Bitcoin (BCT) has finished a wave of correction at $9,000. Although the liquidity is high enough in the current zone, there is no buyer potential to push the price higher as the trading volume is low. A more likely scenario is a retest of the support at $8,680, which might happen today as the daily ATR has not yet been passed.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the bigger time frame, a bearish mood will also dominate. Based on the trading volume, buyers are not ready to buy Bitcoin (BTC) from the current levels.

Related BTC, ETH, XRP, BCH, BSV, BNB Weekly Price Analysis - Which Coin Will Grow Most at Start of June?
Related
BTC, ETH, XRP, BCH, BSV, BNB Weekly Price Analysis - Which Coin Will Grow Most at Start of June?

Furthermore, the bearish RSI has been formed on the indicator, confirming bearish pressure. If the $9,000 mark cannot be attained within the next few days, traders can expect $8,500 by the end of the month.

BTC/USD chart by TradingView
BTC/USD chart by TradingView

On the daily chart, Bitcoin (BTC) has formed a double peak pattern which is a sign of a reversal, according to technical analysis. The current growth is not supported by the buyer trading volume, which is an obstacle for bulls in their attempts at continued growth. The closest support zone is at $8,500. If buyers cannot resist bear impulses, the decline will continue to $8,200.

Bitcoin is trading at $8,830 at press time.

 
About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.

Ethereum (ETH) Price Analysis — Will Bulls Reach $240 In Current Bounce?

Price Predictions
Tue, 07/07/2020 - 10:22
Denys Serhiichuk
Will Ethereum (ETH) get to $240 in the ongoing growth?
Ethereum (ETH) Price Analysis — Will Bulls Reach $240 In Current Bounce?
Cover image via www.tradingview.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

The positive mood remains on the cryptocurrency market. While Bitcoin (BTC) is rising slightly, altcoins are outperforming the leading crypto. The top gainer from the 10 most popular coins is Bitcoin SV (BSV), whose rate has risen 14.34% over the past day.

Top 10 coins by Coinstats
Top 10 coins by Coinstats

The market capitalization has also increased against the rise of the market. At the moment, its index is $265.3 Bln.

Market Capitalization
Market Capitalization

The relevant data for Ethereum is below.

  • Name: Ethereum

  • Ticker: ETH

  • Market Cap: $26,416,726,830

  • Price: $236.59

  • Volume (24h): $8,170,001,858

  • Change (24h): 1.61%

The data is relevant at press time.

ETH/USD: Is the rise coming to an end?

The price of Ethereum (ETH) showed steady growth yesterday. During the day, the pair broke through the resistance at $233 and tested the POC line ($243.34) late at night. In the Asian session, growth stopped and the price rolled back to $240.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

If the bears strengthen the onslaught, then they can return the pair to $233. On the other hand, on the daily time frame, the Stoch RSI indicator lines have not yet reached the overbought zone and there is still some potential for growth. Overall, after a short pause, bulls might try to test the resistance at $247.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

On the 4H chart, Ethereum (ETH) is forming a Triangle pattern. The decline is supported by the rising trading volume which means that there is still space for going deeper. In this case, the first stop might be at the zone around $232 where most of the liquidity is concentrated. This scenario may unfold within days.

ETH/USD chart by TradingView
ETH/USD chart by TradingView

On the bigger time frame, the growth potential remains, despite the highs becoming lower and lower. The bullish trend since March 2020 has not been broken so far, which means bulls may still set new local peaks. Such a statement is confirmed by the rising channel, which has continued since the end of June. If bulls keep pushing the altcoin higher, traders can expect Ethereum (ETH) to trade around $245 by the end of July.

Ethereum is trading at $235.65 at press time.

About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing & ICO Advisory, ATB Coin, and others, can be contacted at denys.serhiichuk@u.today.