The Second-Coming Of Bitcoin Is Far From Over
Uncomparable Highs Across the Board. Binance Strike, Bitcoin, and Ethereum Lead the Charge
aside Bog& Giulvezan
The Crypto Power train shifted into high-gear a while back and it seems it's not releas to stop soon. Everything's green on CoinMarketCap, with the majority of coins posting double-digit gains (pct-all-knowing) near daily.
As recently as 27 January 2021, Bitcoin was trading below $30,000, having fallen from $40K+ highs, yet now it is trading preceding $47,300 (dinky retracement later on going away supra $48,000). Just a week back, we've talked about a Golden Cross scenario that was about to unfold and meantime, the pattern materialized and worked as anticipated: it brought in more buyers, who took cost high. The past ATH situated around $42,000 is shattered and Bitcoin is as strong as ever.
Ethereum also posted a original All-Time High but so far it had a constant climb, without major jumps up and down. You know what they say: "Sweetie wins the speed up" and it seems as Ethereum is living aside this mantra. Currently, it is trading at $1,770, after stretch an ATH just above $1,820. High prices to stick to? Possibly.
Binance Coin (BNB) has been another amazing performer, basically since its inception. However, this year the coin has been flaming! Trading around $36 in the first days of 2021, BNB managed to climb to $75 on the 5Thursday of February, and now, only 7 days later, IT's trading at $124, coming from highs at $140+. We could go as far as saying that BNB's chart is the very definition of the "To the Moon" meme. It's simply just going up. But beware: strong moves are inclined to pullbacks. You know – what goes up must go down (and vice-versa).
Graph Analysis – BTC/USD
Considering that altcoins usually be Bitcoin, countenance's call for a deal the Member Golden and control where it can go from Hera. Currently trading at $47,370, Bitcoin surpassed its previous Uncomparable High reached on 8 January ($42K+) and yesterday it managed to break the new ATH once once again, pushing higher up $48,000.
Looking at the 4H chart to a lower place, we can meet that $44,500 has become support because IT rejected falling prices more than once (several candles tried to close below it but failed). Thus we can look price to oppose to this level in the emerging.
Disdain the chart bullishness, we essential acknowledge the fact that the new high is already showing signs of a tieback: monetary value just timidly surpassed the previous high and red candles with long wicks are already forming. On top of that, the MACD lines are crossed bearish and moving down. With all this in mind, we may see lour prices, potentially capped by $44,500. If the said support breaks, BTC may have a close encounter with the 50 periods Moving Average (blue credit line) but the overall oblique is bullish.
Source: https://www.binaryoptions.net/the-second-coming-of-bitcoin-is-far-from-over/
Posted by: racelowitood.blogspot.com
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