With more than 250% growth in 2020, there is no denying that Bitcoin experienced an outstanding year. However, the best is yet to come! Bitcoin in 2020 The year started with a strong uptrend of around 45% in 45 days. It is important to note that this followed a 50% correction from $14,000 to $7,000 and then a short consolidation period. During March’s...
After an astonishing breakout of the $20,000 resistance, Bitcoin appears to have entered a consolidation phase between $22,000 and $24,000. Consolidation Importance A bull market without any correction or consolidation is like a building without a foundation: it is shaky, and can collapse at any time. Therefore, consolidation helps bring stability to the...
After three weeks of ranging, Bitcoin finally breaks the $20,000 and makes a new all-time high! Breakthrough Importance Calling this as "big news" would be an understatement. This breakthrough just about confirms many predictions regarding the Bitcoin cycle. Generally, the more a resistance is tested, the stronger it becomes; this also means that the...
If you have been in the market for some time, then you have probably tried a few different indicators. Some may have worked well, others not so much. However, just because the indicator's default version didn't work, that doesn't mean it doesn't have potential! Parabolic SAR Default We have tested the Parabolic SAR with its default settings, on ETH/USDT 4h...
Bitcoin had one of its most phenomenal years in 2017 when the coin reached $19,500 for the first time. It took BTC three years to reach that price level once again. A good number of people are now wondering if this will play out similarly to 2017. However, based on the data, we will head significantly higher this year! YTD Growth In 2017 we experienced an...
As predicted, BTC failed to make new highs, stopping just short of $19,500. The coin has now started an overdue correction. Now it is essential to find where it will bounce back so we can enter once again! Support Levels Finding suitable entry points goes hand in hand with finding the right support levels. The first support level stands at $17,000, where BTC...
With the breakthrough of the $17,000 resistance, Bitcoin is now on track to its all-time high at $20,000! Breakthrough Importance The breakthrough of the $17,000 is of utmost importance as it was the last significant resistance on Bitcoin’s path to $20,000. This level acted as a resistance before Bitcoin reached the all-time high, and afterward, it prevented...
Bitcoin has already tried and failed to break the newly formed $16,000 resistance twice. The third time was a charm and a breakthrough was finally achieved. Current Uptrend Analysis Since October 8th BTC has been in a near-constant uptrend, growing by more than 50%. One of the best indicators for judging the uptrend on the 4h chart is the 50 EMA. The 50 EMA...
While Bitcoin is in its strongest bull market since 2017, DeFi tokens have actually been selling off. Bull Run and Subsequent Correction This year was terrific for the DeFi tokens until September; some grew by more than 5,000% from January 2020. The DeFi Index we are analyzing was created towards the end of June, and therefore we are unable to showcase the...
Bitcoin refuses to go lower; the 50 EMA acts as support and holds the coin above $13,000. On Tuesday, Bitcoin broke its short ranging period between $12,650 and $13,350. The coin went up to $13,850 but failed to achieve a vital breakthrough at the $14,000 level. Coronavirus and Bitcoin BTC’s failed breakthrough and subsequential downturn may be in part due to...
Starting on the 19th of October, Bitcoin became increasingly bullish, rising in momentum before peaking out around $13,200. The coin is momentarily consolidating between $12,700-$12,800, and appears unable to push higher. The $12,000 Level BTC broke the critical resistance at $12,100, which was the highest resistance level of 2020 so far. This breakout is...
BAND experienced a tremendous 7,500% growth this year. Following the massive growth, the token experienced a 65% correction starting in September. However, the downward pressure slowed down, and we are now in a consolidation phase. The Opportunities BAND was previously caught in a descending channel on the 4h chart. On the 24th of September, the token broke...
As a decentralized oracle critical to many DeFi projects, LINK has had a fantastic year in 2020, pushing up gains of 1,000% at its peak of $20. However, since Mid-August, the token has been caught in a descending channel. LINK recently broke this channel, and many people are now wondering whether this is the start of a new uptrend or a temporary move before...
Celsius (CEL) experienced an exceptional 300% growth in one month. The coin has now stabilized, and its direction is currently unclear. Celsius Fundamentals Similar to a bank, Celsius (CEL) borrows from one set of clients, lends to others, and profits from the difference between the interest rate. However, CEL mostly works in the crypto space as it mainly...
Ethereum (ETH) experienced strong growth this summer, mostly due to its network hosting dozens of DeFi tokens which grew tremendously. ETH then experienced a particularly sharp 30% correction, along with the entire market, about one month ago. The coin is now hovering around the $315-$340 support. Lower Volatility Following the crash, Ethereum experienced a...
Synthetix Network (SNX) has been one of the most profitable investments this year. However, the token is now facing a bearish outlook. Recap: The Synthetix project is among the largest exchanges in decentralized finance. They have partnered with ChainLink to bring information about asset prices to blockchain without the need of a central party. Synthetix allows...
Ethereum is the second-most capitalized coin in the crypto market, and it is prevalent among traders. One of the most frequently asked questions is, “how do I know when it is trading up?” Let’s review! Ethereum Fundamentals The Ethereum platform is used by developers to build different kinds of decentralized applications, including new digital assets,...
Recently, Bitcoin has been trapped in a range between $9,800 and $10,500. After failing to break the resistance several times, BTC finally achieved a breakthrough four days ago on September 14. Where to Next? After achieving the breakthrough, BTC’s price has slowly crawled its way up to $11,000. Due to the slow increase of only 4% in two days, BTC has been unable...