15,000 Bitcoin are Leaving Coinbase Each Week; Here’s What This Means

  • Bitcoin has been seeing massive Bitcoin outflows each week, which is a positive sign that points to underlying strength
  • This has yet to be reflected in its price, as the crypto has been facing massive selling pressure that has made it increasingly unclear as to where it may trend next
  • In total, 15,000 BTC are being moved off of Coinbase each week, which seems to indicate that massive upside could be imminent in the days and weeks ahead
  • One analyst is now insinuating that this could be a sign of institutional bidding taking place, which would mean that upside is imminent
  • This comes as MicroStrategy also announced their plans to buy a total of $600m worth of Bitcoin – assuming they complete a convertible note raise

Bitcoin has been seeing mixed price action throughout the past few days, with sellers taking full control of its price action as buyers struggle to gain any significant ground over bears.

The crypto is showing some signs of bottoming within the lower-$48,000 region, but the buying pressure here may not be enough to spark any massive move higher in the short-term.

Despite this perceived weakness, on-chain data suggests BTC is just as strong as ever, with 15,000 BTC leaving Coinbase weekly.

Bitcoin Price Struggles Following $50k Rejection

Earlier today, Bitcoin’s price rocketed to highs of $51,000 before facing a strong rejection that has since led to a sharp retrace.

The crypto is currently trading up marginally from its daily open at its current price of $48,300.

The entire market is tanking due to this turbulence, with altcoins all selling off aggressively as buyers seemingly go risk-off.

Until BTC can stabilize and find some support, there’s a strong possibility that further downside is imminent for the entire market.

BTC is Flowing Out of Coinbase at a Rapid Pace

One interesting trend that seems to point to underlying strength is the massive outflows from Bitcoin that are taking place every week.

As one observer noted, 15,000 BTC are being “sucked out of” Coinbase each week, which could be a sign of institutional accumulation.

“15,000 Bitcoin being sucked out of Coinbase per week. Yes, that’s more than $1/2B a week. Yes, more institutions are buying. Expect the headlines to follow.”

Bitcoin

Image Courtesy of Charles Edwards. Source: BTCUSD on TradingView.

How Bitcoin responds to the present inflows of selling pressure should provide insights into where it may trend in the near-term. Regardless of any short-term selloff, the cryptocurrency does appear to be fundamentally healthy.

Featured image from Unsplash.
Charts from TradingView.

It’s “Only Up” Season for Bitcoin as BNY Melon News Sends BTC to New Highs

  • Bitcoin has been caught in one of the strong uptrends seen since its parabolic rally first began in late-2020
  • The cryptocurrency has been seeing tremendous growth as of late that has come about primarily as a result of multiple signs of mainstream adoption
  • Examples of this include Tesla’s decision to add $1.5b worth of BTC to their balance sheets, as well as the auto company enabling BTC payments for their vehicles
  • Today, the Bank of New York Mellon also announced intentions to begin adding some support for Bitcoin custody
  • This news was looked upon positively by the crypto market, as it helped send Bitcoin’s price to fresh all-time highs of $48,400

Bitcoin has been gaining massive retail and institutional adoption throughout the past few months, which has made its parabolic growth feel more sustainable than that seen in previous years.

Tesla, Square, MicroStrategy, and other major publicly traded companies have all added BTC to their balance sheets, which may create a frenzy amongst different companies to follow in their footsteps and do the same.

This intense buying pressure has helped create some underlying strength for the benchmark crypto from a technical perspective. One trader is now watching for further upside, noting that it is “up only” season.

Bitcoin Struggles to Break $50,000, But Momentum Remains Strong

At the time of writing, Bitcoin is trading up over 5% at its current price of $47,250. This marks a massive surge from the cryptocurrency’s recent lows of under $44,000 that were set last night.

Although BTC faced a rejection at $48,000 and has been sliding lower ever since it still appears to be technically strong, and it may only be a matter of time before the crypto breaks the $50,000 level that everyone is keenly watching.

Analyst: It’s “Up Only” for BTC Until Proven Otherwise

While sharing his thoughts on where Bitcoin might trend in the mid-term, one analyst explained that he is closely watching for further upside, with a key support level that must be maintained sitting at $41,000.

“BTC: Broke its range to the upside, now consolidating above it. Up only till proven otherwise continues. ‘Otherwise’ being a break back into the old range. Additional confluence due to the Tesla news being right below the range high making it even more important.”

Bitcoin

Image Courtesy of DonAlt. Source: BTCUSD on TradingView.

The coming few days should shed some serious light on where Bitcoin will trend next, as its reaction to $50,000 will be vital for determining its mid-term outlook.

Featured image from Unsplash.
Charts from TradingView.

Bitcoin Driven Higher by TWAP Buying as Price Stabilizes at All-Time Highs

  • Bitcoin has seen wild price action over the past couple of days, with the cryptocurrency posting its most extensive ever 1-day candle yesterday following news of Tesla’s BTC purchase
  • This candle, which spanned from the upper-$30,000 region all the way to highs of $47,000, has yet to be reversed, as bulls have maintained their control over the market
  • Where the entire crypto market trends next will undoubtedly depend on BTC, as altcoins have been closely tracking its general trend
  • If the crypto slides lower and fails to extend its momentum, altcoins may see intense selloffs that drive them significantly lower
  • One ongoing event that is bullish for BTC is that there appears to be strong TWAP demand for the crypto
  • This indicates that funds and other large players are accumulating

Bitcoin and the entire crypto market have consolidated today following a massive push higher that came about yesterday morning on the heels of news regarding Tesla’s $1.5b BTC acquisition.

Naturally, this news created a buying frenzy that has yet to subside, with traders and retail investors alike rushing to gain heightened exposure to the benchmark digital asset.

One positive sign that may indicate growth is imminent is the presence of large TWAP activity, which is a sign that large buyers are adding to their BTC stacks.

Bitcoin Stable Following Massive Tesla-Induced Rally 

At the time of writing, Bitcoin is trading flat around its current price of $46,550. This is around where it has been trading throughout the past few days.

Each selloff seen over the past day has been rapidly absorbed, which is a sign that demand is mounting.

The crypto has yet to eat into its recent gains and is still trading around where the daily candle closed yesterday.

Data Shows Large Players are TWAPing BTC

Data seems to suggest that large buyers are using TWAP to acquire BTC, which may be why the benchmark crypto has yet to see any sustained selloffs.

One analyst spoke about this in a recent tweet, pointing to a chart showing the aggressive buying occurring on each dip.

“I suppose lots of bigger players using TWAP and as more institutions buy BTC or larger funds buy BTC… I expect TWAP to work better over time (albeit front running becomes a problem –> but still usable)”

Bitcoin

Image Courtesy of Cyrii_MM. Source: BTCUSD on TradingView.

If this trend persists, it could provide Bitcoin with a solid base of buying pressure to extend its uptrend.

Featured image from Unsplash.
Charts from TradingView.

Bitcoin Driven Higher by TWAP Buying as Price Stabilizes at All-Time Highs

  • Bitcoin has seen wild price action over the past couple of days, with the cryptocurrency posting its most extensive ever 1-day candle yesterday following news of Tesla’s BTC purchase
  • This candle, which spanned from the upper-$30,000 region all the way to highs of $47,000, has yet to be reversed, as bulls have maintained their control over the market
  • Where the entire crypto market trends next will undoubtedly depend on BTC, as altcoins have been closely tracking its general trend
  • If the crypto slides lower and fails to extend its momentum, altcoins may see intense selloffs that drive them significantly lower
  • One ongoing event that is bullish for BTC is that there appears to be strong TWAP demand for the crypto
  • This indicates that funds and other large players are accumulating

Bitcoin and the entire crypto market have consolidated today following a massive push higher that came about yesterday morning on the heels of news regarding Tesla’s $1.5b BTC acquisition.

Naturally, this news created a buying frenzy that has yet to subside, with traders and retail investors alike rushing to gain heightened exposure to the benchmark digital asset.

One positive sign that may indicate growth is imminent is the presence of large TWAP activity, which is a sign that large buyers are adding to their BTC stacks.

Bitcoin Stable Following Massive Tesla-Induced Rally 

At the time of writing, Bitcoin is trading flat around its current price of $46,550. This is around where it has been trading throughout the past few days.

Each selloff seen over the past day has been rapidly absorbed, which is a sign that demand is mounting.

The crypto has yet to eat into its recent gains and is still trading around where the daily candle closed yesterday.

Data Shows Large Players are TWAPing BTC

Data seems to suggest that large buyers are using TWAP to acquire BTC, which may be why the benchmark crypto has yet to see any sustained selloffs.

One analyst spoke about this in a recent tweet, pointing to a chart showing the aggressive buying occurring on each dip.

“I suppose lots of bigger players using TWAP and as more institutions buy BTC or larger funds buy BTC… I expect TWAP to work better over time (albeit front running becomes a problem –> but still usable)”

Bitcoin

Image Courtesy of Cyrii_MM. Source: BTCUSD on TradingView.

If this trend persists, it could provide Bitcoin with a solid base of buying pressure to extend its uptrend.

Featured image from Unsplash.
Charts from TradingView.

Bitcoin Price Rockets as SEC Reveals $1.5b Tesla BTC Purchase; Miami May Follow

  • Bitcoin’s price saw a massive upswing overnight following news regarding Tesla’s purchase of $1.5 billion worth of BTC to add to their balance sheet
  • This represents 10% of the company’s total cash balance, which is significant considering its size
  • Naturally, this news riled investors and caused hundreds of millions of dollars worth of short-sided liquidations
  • The company also has intentions of allowing customers to pay for their vehicles using the benchmark cryptocurrency
  • This is no doubt a bull-favoring “white swan” event for the cryptocurrency, and it could lead to the next leg higher
  • The City of Miami is also showing interest in buying some BTC, which could propel it even higher in the near-term

Bitcoin has seen some wild price action due to the news surrounding Tesla’s massive $1.5b Bitcoin purchase.

Unlike the last “Elon Musk” candle that bears quickly reversed, this move seems to be a bit more sustainable because it speaks to the growing trend of corporate adoption for Bitcoin as a store of value.

The trend is unlikely to end here as well, as the City of Miami may be the next notable entity to add BTC to their books.

Bitcoin Rallies Following Massive Purchase from Tesla

Overnight, Bitcoin surged from lows of $38,000 to highs of $45,000 that were set earlier today, at which point it met some resistance that caused its price to slide down to $42,000.

It has found some support here and may begin pushing higher in the short-term.

Over the past few weeks, Tesla’s accumulation may not have boosted BTC’s price action too much, but it does signal that the trend of corporate adoption is ongoing.

This City May be the Next Notable BTC Buyer

The next notable buyer to add Bitcoin to its balance sheet might be the City of Miami. Its mayor noted in a recent tweet that he is working on a resolution for the city’s commission regarding the topic.

“Working on a resolution for our commission for this Thursday’s meeting to get the ball rolling… @elonmusk’s announcement was very helpful,” he said in part.

So long as this trend persists, the narrative surrounding it will likely do wonders for Bitcoin’s price action and potentially lead to higher highs.

Featured image from Unsplash.
Price data from TradingView.

Institutional Buyers the Likely Suspect Behind Latest Bitcoin Rally; What’s Next?

  • Bitcoin has seen some turbulent price action throughout the past couple of days, but it has primarily favored bulls
  • The cryptocurrency was able to rally from the lower-$30,000 region to highs of $39,000 before it once again faced some intense selling pressure that sent it reeling lower
  • The benchmark crypto has been able to find some strong buy-side support, however, and appears to be well-positioned to see further upside in the days and weeks ahead
  • Where the market trends next will undoubtedly depend on Bitcoin. Any strong rejection or continuation of its recent downtrend could lead to deeper losses
  • While sharing his thoughts on the current market, one analyst explained that institutional TWAP buying appears to be the driving force behind this rally

Bitcoin and the entire market have been flashing mixed signals to investors as of late, with BTC struggling to maintain its momentum as it nears the top of a long-held trading range.

Where the crypto trends next will undoubtedly depend, at least partially, on whether or not BTC can sustain the rebound it has seen following a dip earlier today.

One trader is noting that institutional buyers may be the source of strength over the past couple of days, as it appears there has been strong spot bidding going on.

Bitcoin Sees Strong Momentum as Bulls Absorb Latest Selloff 

At the time of writing, Bitcoin is trading down marginally at its current price of $37,350, which marks a notable decline from its recent highs of nearly $39,000 set just a couple of days ago.

Earlier today, BTC’s price dipped as low as $36,200, but the buying pressure here was quite significant and allowed the crypto’s price to rocket quite rapidly.

Analyst: Institutional Bidding Likely the Force Behind Latest Rally

One analyst explained that bidding for the crypto on Coinbase is likely the source behind the recent rebound, which may be due to an institutional investor TWAPing.

This seems to be a pattern with every dip, which heavily favors long positions.

“The market was overheated IMO but I spooked myself for no reason. Apes got bailed out by a strong Coinbase spot bid. Kinda looks like an institution was twapping again.”

Bitcoin

Image Courtesy of Byzantine General. Source: BTCUSD on TradingView.

Unless this heavy spot bidding suddenly disappears, the ongoing Bitcoin upsurge is likely just getting started.

Featured image from Unsplash.
Charts from TradingView.

Analyst: Recent Bitcoin Consolidation Suggests Move Past $40k is Imminent

  • Bitcoin has pushed higher over the past day, which comes at a time where most major altcoins are all seeing immense upwards momentum
  • Where the market trends next will undoubtedly depend on whether or not BTC and ETH can remain stable or continue climbing higher
  • While sharing his thoughts on where the crypto might trend in the near-term, one analyst explained that Bitcoin’s recent consolidation phase has been incredibly bullish
  • He now expects the entire market to surge higher, with bulls likely being able to push Bitcoin past $40,000 thanks to a few key technical factors
  • For BTC to see a parabolic advance, however, it must break its all-time highs of $42,000

Bitcoin has been facing some mixed price action in recent weeks, with the crypto seeing multiple strong uptrends and selloffs that have made it increasingly unclear where it may trend in the near-term.

Its technical outlook appears to be shaping up, however, as bulls are in the process of pushing it higher and allowing it to form some positive technical formations.

One trader is now setting his sights on a move towards $40,000 in the near-term, explaining that the crypto could be positioned for massive momentum in the days and weeks ahead.

Bitcoin Pushes Towards $40,000 Resistance as Uptrend Kicks Off

At the time of writing, Bitcoin is trading up just under 4% at its current price of $36,900, which marks a notable surge from recent lows of $35,500 that were set this morning.

The cryptocurrency’s strength is showing few signs of degrading, with bulls aggressively buying each dip as bears struggle to gain any momentum.

Where the crypto trends in the mid-term will undoubtedly depend largely on whether or not it can break above $40,000.

Analyst: BTC Likely to Break $40,000 as Technical Strength Mounts

One trader explained in a recent tweet that Bitcoin could be on the cusp of seeing some massive momentum in the mid-term.

He is even setting his sights on a move to $40,700, which may act as short-term resistance.

“This consolidation on $btc has given more breathing room for our *allowed* mean reversion cushion. We could pump to 40.7k and still be within the accepted reversion band level above the basis. TLDR: Bullish on more upside for bitcoin soon.”

Bitcoin

Image Courtesy of Altcoin Psycho. Source: BTCUSD on TradingView.

The coming few days should shine a light on Bitcoin’s near-term outlook and how it will impact altcoins.

Featured image from Unsplash.
Charts from TradingView.

Ethereum Posts Clear Breakout as Investors Eye Price Discovery

  • Ethereum has seen some strong momentum throughout the past few days, with buyers taking control as its price now hovers firmly above $1,400
  • The selling pressure in this price region has been dissipating with each visit, signaling that bulls could be on the cusp of sparking a breakout rally
  • Where the market trends in the mid-term will undoubtedly depend on whether or not bulls can maintain the crypto above $1,400
  • A break below this level would mark yet another rejection in the crypto’s all-time high region, potentially spelling trouble for where it trends next
  • One analyst said that options activity seemed to spike just before ETH made a push to fresh all-time highs of $1,500

Ethereum and the entire crypto market have been caught within the throes of some immense volatility throughout the past few days and weeks, with buyers and sellers both struggling to gain any control over the market.

This can largely be blamed on Bitcoin, which has been caught within a consolidation trend as of late.

Ethereum could be gearing up for price discovery once bulls can firmly shatter its all-time highs, but bulls first need to clear $1,500.

Ethereum Shows Signs of Strength Despite Another Rejection

At the time of writing, Ethereum is trading up over 8% at its current price of $1,485, which marks a notable rally from its recent lows of $1,260 that were set just a few days back.

The crypto’s latest price surge allowed it to gain some ground against Bitcoin, but its price remains generally correlated to the benchmark cryptocurrency.

Unless it rejects violently around its current price levels and drifts below $1,400 again, it does seem as though it may be coiling up for another move higher.

Analyst: ETH Options Activity Surged Right Before Latest Pump

One analyst observed that options trading activity for Ethereum ballooned before ETH’s rally this morning.

This highlights the growing impact that options are having on the market.

“Hours before ETH hit a new all-time high, the options market was showing dominant call activity. Options market is now about 1/4 of futures market open interest for Bitcoin. Watch out for options, it has a big impact on markets.”

The coming few days should shine a light on whether the overnight move higher will be sustainable or if it will result in another swift move lower.

Featured image from Unsplash.
Charts from TradingView.

XRP Posts Wild “Pump and Dump” as Retail Buyers Give Whales an Exit

  • The Wall Street Bets phenomenon recent took a grasp of the crypto market, with an army of retail investors first targeting Dogecoin before setting their sights on XRP
  • XRP saw some slow momentum at first, but rumors regarding a “pump and dump” Telegram chat looking to rocket its price quickly circulated
  • This led many traders to jump into positions hoping for a quick swing trade, which further perpetuated the movement
  • Its price rocketed from the upper-$0.20 region to highs of $0.75 overnight before it plummeted
  • One trader is now noting that this rally provided a perfect exit pump for whales who were looking to exit in light of the recent SEC lawsuit

XRP has been one of the worst-performing altcoins in 2021, with news of the SEC’s lawsuit against Ripple catalyzing a massive selloff that sent the token plunging from nearly $1.00 to lows of $0.17.

Its price action in the time since has been quite lackluster, but it gained some massive momentum over the past couple of days that erased all of the SEC-related losses.

One trader is calling this a final exit pump for whales, noting that profits from XRP are likely to roll over into other cryptocurrencies in the near-term.

XRP Explodes Higher Before Collapsing

At the time of writing, XRP is trading down 11% at its current price of $0.44.

The cryptocurrency surged to highs of $0.75 earlier today before it lost its momentum as saw a massive decline that, for a brief period, sent it down nearly 50%.

Its price has recovered slightly in the time since, but bears are still in control as it struggles to gain any momentum.

It remains unclear as to whether or not the army of retail buyers and members of the pump and dump Telegram group will be able to spark another round of gains or if it will continue plunging from here.

Analyst: Retail Investors Give Whales a Final Exit Pump

One analyst believes that this could be a final exit pump that ends as large whales take it as their chance to get out of XRP.

It appears that this is the case, as the intense selling suggests that large holders likely exited their positions at $0.75.

“So many whales bag-holding XRP, one exit pump was not enough, they needed two. Nevertheless, a lot of money is about to flow into big-caps as soon as it’s over.”

XRP

Image Courtesy of Galaxy. Source: XRPUSD on TradingView.

The coming few days should shine some light on just how strong the army of retail investors entering the market is.

Featured image from Unsplash.
Charts from TradingView.

Confirming This Pattern Could Send Bitcoin Rocketing Towards $46,000

  • Bitcoin has seen mixed price action as of late, with bulls and bears largely remaining at odds while the crypto ranges between $30,000 and $40,000
  • The cryptocurrency has been quite heavy as of late due to the intensity of each of its recent rejections, which has given bears a slight edge
  • However, $30,000 remains a bedrock support level, and a continued bout of trading above here is bullish for BTC
  • One trader is now noting that the cryptocurrency could be positioned to see further upside if it can confirm a bullish technical pattern that is forming
  • If confirmed, he claims that Bitcoin has a solid chance of seeing a move up towards $46,000 in the mid-term

Bitcoin’s mixed price action as of late hasn’t been explicitly bearish, despite its inability to gain any momentum.

Sentiment has been hit hard due to the speed at which sellers have faded each pump, but the crypto’s support in the lower-$30,000 region has held strong and is showing no signs of budging anytime soon.

One analyst is now optimistic on BTC’s near-term outlook, noting that it could soon see a swift move up to $46,000 if bulls can post a bullish kumo breakout over the coming week.

Bitcoin Shows Subtle Signs of Strength as Support Holds

At the time of writing, Bitcoin is trading up just under 2% at its current price of $33,600. This does mark a slight decline from its overnight highs of $34,800.

Despite not being able to break the resistance at $35,000, it is important to note that each dip has been aggressively bought, suggesting that bulls are building strength.

So long as $30,000 remains a bedrock support level for the cryptocurrency, the likelihood of Bitcoin seeing further upside remains quite high.

Analyst: This Technical Pattern Suggests Move to $46,000 is Brewing

One trader pointed to Bitcoin’s cloud formation and observed what could be a bullish pattern, noting that the crypto is likely on the cusp of seeing a move significantly higher in the near-term.

He is pointing to $46,000 as a near-term upside target that could come about in the coming few days and weeks.

“4h BTC: I like our chances at 46k if we can get a bullish kumo breakout over the next week,” he said while pointing to the below chart.

Bitcoin

Image Courtesy of Josh Olszewicz. Source: BTCUSD on TradingView.

Unless bulls lose their positioning and allow for a dip to, or below, $30,000, there’s a strong possibility that upside is imminent.

Featured image from Unsplash.
Charts from TradingView.

Bitcoin Bears Erase the “Elon Musk” Candle as Sellers Take Control

  • Bitcoin has witnessed some massive selling pressure throughout the past day that has erased all the gains that came about as a result of the “Elon Musk” pump a few days ago
  • The selling pressure seen has come from a combination of spot and derivatives, with investors generally going risk-off
  • It remains unclear what the cause of this could be, but it may be a combination of technical weakness as well as turbulence within the traditional market
  • One analyst is now noting that there’s a strong possibility further downside is imminent for the entire market
  • He is pointing to the cryptocurrency’s January low as the next level he is closely watching, with a bounce here potentially allowing for massive upside

Bitcoin has seen some wild price action over the past few days. It all started with Elon Musk’s endorsement of BTC, which catalyzed a massive pump towards $40,000 that has been entirely erased over the past few days.

This “FOMO” induced pump seemed to provide exit liquidity for holders looking to get out, as it was aggressively sold into.

One trader believes that this is a sign of imminent downside, as he is now pointing to the cryptocurrency’s January low as a near-term target.

Bitcoin Plunges as Bears Erase the Entire “Elon Candle” 

Earlier this week, Elon Musk changed his Twitter bio to “#Bitcoin” and commented that the change was inevitable in hindsight.

This caused Bitcoin to soar nearly $7,000 and caused nearly half a billion in short liquidations.

However, the selling pressure at these highs was significant and caused a massive rejection that has since resulted in it erasing all of the gains that came about due to Musk’s endorsement.

BTC Could Soon target Move to January Lows

One trader believes that a move to Bitcoin’s January lows could be in the cards, especially considering the multiple rejections it has posted at a key trendline.

“Bears have a clear invalidation from here imo. Easy to flip long if wrong,” he gravely noted while pointing to the below chart.

Bitcoin

Image Courtesy of TraderSZ. Source: BTCUSD on TradingView.

Despite this sentiment, there seems to be a strong institutional bid around $30,000, as the crypto bounces just about every time this level is tapped.

As such, holding above $30,000 could provide Bitcoin with room for significantly further upside in the days and weeks ahead.

Featured image from Unsplash.
Charts from TradingView.

Ethereum Pushes Against Key Resistance as Chart Shows Signs of “Strong Bid”

  • Ethereum has been largely tracking Bitcoin’s price action as of late, but its swings have been far more tempered as it hovers within the $1,300 region
  • The cryptocurrency has been showing some signs of strength, with bulls ardently absorbing all the intense sell pressure it has faced in recent times
  • This indicates that there’s a significant number of investors keen on gaining exposure to ETH, providing it with a strong bid during all dips
  • Where it trends will somewhat depend on Bitcoin undoubtedly, but it is currently pushing up against a key resistance level that may soon break
  • One analyst is comparing the present price action to that seen in November, which means that a massive upsurge could be imminent

Ethereum has been consolidating throughout the past few days and weeks, with buyers and sellers both reaching an impasse as it largely trades within the mid-$1,300 region.

At the moment, $1,380 is the key resistance level to watch, as sellers have been ardently trying to guard against a break above this level.

Once broken, however, ETH could see a massive upswing that leads it to new all-time highs, which is a possibility that one analyst is closely watching.

Ethereum Consolidates as Bulls Build Strength

At the time of writing, Ethereum is trading down marginally from its recent highs of just over $1,400 set yesterday afternoon.

The crypto is now well-within a consolidation phase that has done little to provide insights into where it may trend in the mid-term.

Bitcoin and its continued reaction to the resistance that sits in the mid-$30,000 region should provide some insights into where major altcoins like Ethereum will trend next.

ETH Shows Signs of Strength Despite Consolidation

One trader explained in a recent tweet that Ethereum could be gearing up for a major push higher similar to that seen by the crypto in November before it exploded into the $1,000+ region.

He also notes that the buying activity on each dip indicates that the bid for ETH is quite strong.

“Noteworthy that $ETH has spent almost entire month hovering near 1300s. Quite similar to its behaviour in November when price exploded up right after at the beginning of month and never looked back. BID is STRONG.”

Ethereum

Image Courtesy of Mohit Sorout. Source: ETHUSD on TradingView.

So long as Bitcoin remains steady, there’s a strong possibility that Ethereum will soon see a large move higher.

Featured image from Unsplash.
Charts from TradingView.

If History Rhymes, Ethereum Could Be on the Brink of Rallying to $3,000

  • Ethereum saw a massive breakout rally today that came about alongside Bitcoin
  • BTC’s surge from $32,000 to highs of $38,500 came about as the result of Elon Musk changing his Twitter bio to “#Bitcoin” and calling the change “inevitable” in hindsight
  • This dragged all the major altcoins higher, but the focus remains on Bitcoin for the time being
  • This has caused ETH to see some slight underperformance and may result in the altcoins market stagnating while Bitcoin rallies
  • One analyst is now looking towards potentially imminent price discovery for Ethereum
  • He notes that assuming it tracks Bitcoin’s price action, ETH could see a rally to $3,000 in the coming few weeks

Ethereum has seen some bullish price action throughout the past several hours, with bulls sending its price rocketing up to highs of $1,440 in tandem with Bitcoin’s surge to $38,500.

The market’s immense strength that came about due to this movement is showing few signs of wavering, despite a few pullbacks.

One analyst is now noting that ETH could be on the cusp of seeing an explosive movement that sends it to fresh all-time highs of around $3,000 before it faces any massive resistance.

Ethereum Soars Alongside Bitcoin as Market Rebounds 

At the time of writing, Ethereum is trading up 8% at its current price of $1,390, which is just below its recent highs of $1,475 set at the peak of last week’s move higher.

Bulls are trying to take full control of the cryptocurrency now, despite a few failed attempts by bears to fade the pump.

Pullbacks following a massive move higher are to be expected, but there’s a strong possibility that it gets quickly erased by bulls eagerly awaiting an entry following the overnight developments.

Analyst: ETH Could See an Explosive Move to $3,000 Next

One analyst explained in a recent tweet that Ethereum could be on the cusp of seeing an explosive rally.

He notes that once it breaks above its all-time highs, the cryptocurrency will likely see price discovery that allows it to rally towards $3,000 if it copies the same pattern Bitcoin saw.

“ETH: Looking at potential scenarios for price discovery… If we keep tracking BTC’s move and put in a leg of +111%, post the real deal ATH breakout, then we interestingly will be right at $3,000. Big psychological level, same price that gave BTC a big pullback in 2017.”

Ethereum

Image Courtesy of HornHairs. Source: ETHUSD on TradingView.

The coming few days should provide insights into where BTC and Ethereum will trend in the mid-term and whether this latest surge is sustainable.

Featured image from Unsplash.
Charts from TradingView.

Ethereum Surges Against Bitcoin as Bulls Try to Spark Price Discovery

  • Ethereum has seen some immense turbulence throughout the past few days and weeks, with buyers and sellers both vying to gain control of its price action
  • The cryptocurrency has been unable to gain any clear trend, with buyers keeping it stable between $1,200 and $1,400, while sellers continue guarding its all-time highs
  • It has now tested, and broken above, its all-time highs from late-2017 on three occasions, but each one has been met with massive selling pressure
  • This could indicate that bulls are bound to see further near-term downside unless the entire market begins ascending once again
  • One trader is noting that, from a technical perspective, ETH appears to be far stronger than BTC, which could mean that it is positioned to breakout

Ethereum has seen mixed price action as of late, with its weakness largely coming about due to Bitcoin and its intense downside incurred throughout the past few weeks.

Fortunately for bulls, BTC has been able to remain above $30,000 despite all of its weakness, which may be a good sign for where it trends next.

While sharing his thoughts on where the cryptocurrency might trend next, one analyst noted that Ethereum could be on the cusp of seeing price discovery, with its strength against Bitcoin being striking.

Ethereum Rallies as Broader Crypto Market Rebounds

Yesterday was a weak day for BTC and the rest of the crypto market, with bears causing an intense selloff led by Bitcoin’s multiple breaks below $30,000.

Today, the market has stabilized, and Ethereum has been able to gain some momentum.

At the time of writing, ETH is trading up just under 8% at its current price of $1,340, which marks only a slight decline from its daily highs of $1,360.

Trader Claims ETH Could See Price Discovery as Strength Mounts

One trader explained in a recent tweet that Ethereum could soon see price discovery due to its immense strength against Bitcoin.

“ETH looks A LOT better than BTC rn. Consolidating in an upward channel. Acceptance above VAH would lead to further price discovery + alt season. D close below POC would take it to VAL.”

Ethereum

Image Courtesy of Byzantine General. Source: ETHUSD on TradingView.

Where the market trends next will undoubtedly depend on Bitcoin, but if it can stabilize, it could allow Ethereum and other altcoins to explode higher.

Featured image from Unsplash.
Charts from TradingView.

Here’s Why Coinbase Whales Contributed to Bitcoin’s Sub-$30,000 Plunge

  • Bitcoin has been facing some immense selling pressure today that has caused its price to plunge below $30,000
  • This was previously strong support for the crypto, and it is now testing the support it has at its multi-week lows of $29,000
  • Where the market trends next will likely depend largely on whether or not buyers can continue defending against any imminent downside
  • One startling trend seen on Coinbase is the disappearance of whales that had previously been supporting the price this morning
  • An on-chain analyst explained that the heightened spot buying activity on Coinbase disappearing was a tell-tale sign that a deeper correction was imminent

Bitcoin has seen some incredibly lackluster price action as of late, with every large upwards movement being absorbed by bears while bulls do little to guard against downside.

The entire market has plunged today thanks to Bitcoin’s inability to hold above $30,000, and the selling pressure it has been facing shows no signs of letting up anytime soon.

One analyst explained in a recent tweet that Coinbase whales who had previously been supporting the price above $30,000 “gave up” and opened the gates for further losses.

Bitcoin Struggles to Gain Momentum as Selling Pressure Mounts

At the time of writing, Bitcoin is trading down roughly 6% at its current price of $30,300. This marks a notable decline from recent highs of $33,000 that were set yesterday afternoon.

The crypto has seen a strong rebound from its $29,000 lows set just a few hours ago, with bulls now looking to stabilize above $30,000 and reclaim this crucial level as support.

If successfully flipped back into support, $30,000 could provide a strong base for the crypto to expand off of.

Coinbase Whales Stop Bidding as Price Declines

The fleeting break below $30,000 this morning appeared to come about right after Bitcoin whales on Coinbase stopped bidding.

This could be a sign of fear amongst large investors and led one on-chain analyst to close his long positions.

“Closed long here as Coinbase whales gave up to buy more BTC… Minus premium.”

Bitcoin

Image Courtesy of Ki Young Ju. Source: CryptoQuant.

Now that BTC is back above $30,000 and holding steady, these large buyers’ resurgence could help formulate this as a long-term bottom.

Featured image from Unsplash.
Charts from TradingView.

Ethereum is Showing “Exceptional Signs of Strength” as Bulls Defend Crucial Level

  • Ethereum has been holding up somewhat well as of late despite the weakness seen across the aggregated crypto sphere
  • Bitcoin’s slide to $30,000 has caused most major altcoins to tank, with ETH struggling to maintain the massive momentum it built over the past week
  • Because BTC is firmly leading the markets for the time being, where altcoins, including Ethereum, trend in the mid-term will undoubtedly depend on BTC
  • Its influence over the entire market has been unwavering and will likely remain so until it sees a consolidation phase or enters an uptrend once again
  • One analyst is admiring the strength ETH has seen in the face of this selloff, noting that this could be a good sign for its price once the market rebounds

Ethereum has been battling to break above its all-time highs throughout the past few days and weeks, with buyers and sellers both struggling to gain any serious control over its price action.

The crypto has largely been in a consolidation phase, with bulls defending the lower-$1,000 region while sellers continue guarding against a sustained break above its all-time highs.

Despite the selloff seen today, one analyst is now noting that Ethereum’s recent price action is still far prettier than that of Bitcoin, as it is showing “exceptional strength” due to its ability to print higher lows.

Ethereum Plunges Alongside Bitcoin – Will Bulls Reverse This Downtrend?

At the time of writing, Ethereum is trading down nearly 10% at its current price of $1,220. This marks a notable decline from highs of $1,370 set at the peak of yesterday’s market-wide rally.

The selling pressure here proved somewhat significant and led to a trend reversal alongside the rest of the market.

 ETH Forming Pattern of Higher-Lows: Bullish for Outlook

One analyst explained in a recent tweet that Ethereum is showing surprising resiliency despite the aggregated market’s weakness.

He is specifically pointing to the pattern of higher-lows that it has been forming, noting that this is a positive sign for its outlook.

“ETH printing higher highs and lows. Exceptional strength when compared to BTC which has recently put in lower high & lows. So far it’s unable to maintain ATH though. I think a breakout & close above or below blue would indicate the direction of the next bigger sized move.”

Ethereum

Image Courtesy of DonAlt. Source: ETHUSD on TradingView.

Unless Bitcoin’s ongoing descent forces ETH below roughly $1,100, there’s a strong possibility that upside is imminent for the entire market.

Featured image from Unsplash.
Charts from TradingView.

Here’s the Key Level Bitcoin Needs to Reclaim for Bulls to Take Control

  • Bitcoin’s appears to be caught within a firm bear trend, with the cryptocurrency being wholly unable to see any sustained rebounds
  • Each rally over the past week has been firmly rejected, with BTC rallying to highs of $34,500 yesterday before facing a rejection that sent it down towards $30,000 today
  • Where the entire market trends next will undoubtedly depend on whether or not bulls can guard against a dip below $30,000
  • The selling pressure that caused the recent dip is showing few signs of letting up anytime soon and may cause further near-term losses
  • One trader is optimistic, however, noting that bulls could still take back control if they can break above one crucial level

Bitcoin and the entire crypto market have been facing some intense selling pressure as of late that has hampered the uptrend BTC formed throughout the past couple of months.

It remains unclear whether this trend has been invalidated, but bulls certainly have some serious work in front of them if they want to reverse the recent selloff.

One analyst is pointing to $34,500, noting that this is a crucial level that bulls need to break for the market to see further upside. Once claimed, he is setting his sights on a move to $40,000+.

Bitcoin Shows Subtle Signs of Strength as Bulls Absorb Selling Pressure 

At the time of writing, Bitcoin is trading down just under 1% at its current price of $32,000, which marks a notable decline from recent highs of $34,500 set just a couple of days ago.

The selling pressure here was significant and highlights that bears are still in control of the cryptocurrency’s price action.

It dipped down towards $30,000 today and was able to find some significant buying pressure, which is a good sign for bulls.

Here’s the key Level Bulls Need to Target

One analyst explained in a recent tweet that he is closely watching for Bitcoin to see a move past $34,500 in the near-term.

He believes that this could propel it straight to $40,000 in the days ahead.

“BTC: That $34,500 level wasn’t random btw. Perfectly capped upside yesterday. Reclaim that and I think we see 40k+.”

Bitcoin

Image Courtesy of George. Source: BTCUSD on TradingView.

Bulls have their work cut out for them if they want to reverse the recent downwards spiral that has sent Bitcoin to the lower-$30,000 region.

A strong bullish trend reversal here, however, could result in the market seeing massive upside.

Featured image from Unsplash.
Charts from TradingView.

Analyst: Ethereum Likely to Tag $2,000 in Near-Term as Rally Turns Parabolic

  • Ethereum saw a meteoric rally yesterday that allowed it to post some massive gains, with bulls taking full control as they sent it to fresh all-time highs
  • The crypto is still struggling to gain enough support to hold above its previous all-time highs of $1,450, with the selling pressure above this level being significant
  • It is now seeing some consolidation just below this level as Bitcoin begins soaring higher
  • There’s a strong possibility that Bitcoin’s strength will eventually create further tailwinds for ETH
  • One analyst is noting that a daily close above $1,400 could position ETH for massive upside in the week to come, noting that he is watching $1,600 and $2,000 as near-term upside targets

Ethereum has been caught in a parabolic growth phase throughout the past few days, with the crypto rallying roughly 40% from its low of $1,080 that were set just a few days ago.

These lows came about last Thursday in tandem with the decline seen by the aggregated market, but the v-shaped recovery formed in the time since has been quite promising.

One analyst is now expecting Ethereum to see immensely further upside in the short-term, noting that he is closely watching for the crypto to see a move to $1,600 and $2,000 in the coming days and weeks.

Ethereum Consolidates Following Meteoric Rally

At the time of writing, Ethereum is trading up just under 2% at its current price of $1,410. This is around the price at which the crypto has been trading throughout the past day.

Yesterday afternoon, bulls took full control of ETH’s price action and sent it flying up to highs of $1,475 – which marked fresh all-time highs.

The selling pressure here proved to be quite intense and caused it to see a strong rejection that has since led to a consolidation phase.

The buying pressure around $1,400 and below it has been significant, which means that this consolidation could result in a breakout rally to new highs.

Analyst: ETH Could Be on the Cusp of a Move to $2,000+

One analyst believes that today’s daily close could send Ethereum soaring higher, assuming it can close above $1,400.

“ETH / USD: Looking insane if we can see a daily close above $1400, this is some major momentum we are seeing, especially with price breaking away from its BTC pairing and move alone. I think we see $1600 before end of the week, I also think that $2000 could be tagged soon.”

Ethereum

Image Courtesy of Cactus. Source: BTCUSD on TradingView.

The coming few days should shine a light on Ethereum’s outlook and clarify how Bitcoin’s ongoing bullish trend reversal will impact altcoins.

Featured image from Unsplash.
Charts from TradingView.

Bitcoin Could be Coiling Up for a Massive Push Higher as Bulls Take Control

  • Bitcoin’s recent underperformance against altcoins came to a swift end today, with bulls allowing the crypto to rocket higher while bears struggle to slow its ascent
  • The cryptocurrency is now in the process of erasing much of its recent losses, with bulls targeting further upside
  • This rally has taken the wind out of many altcoins’ sails, with many investors rotating their recent altcoin profits back into the benchmark crypto
  • Where it trends in the near-term will undoubtedly depend on whether or not bulls can sustain this momentum and flip $34,000 into a base of support
  • One analyst explained in a recent tweet that Bitcoin might be well-suited to see further momentum in the days to come

Bitcoin and the entire cryptocurrency market have been caught in the throes of some immense volatility throughout the past week.

Last Thursday, BTC faced a massive influx of selling pressure that caused it to slide below $29,000. This decline erased weeks of gains and marked capitulation.

The “v-shaped recovery” seen in the time since has been promising and has led one analyst to note that the possibility of BTC seeing significantly further upside is now growing rapidly.

Bitcoin Shows Signs of Strength as Bulls Take Control 

At the time of writing, Bitcoin is trading up over 7% at its current price of $34,650. This marks a massive rally from its recent lows of under $29,000 set just a few days ago.

These lows appear to mark a macro bottom, as BTC’s recovery – and that of altcoins – suggests that this was the first pullback on the road to higher highs.

BTC is facing some resistance just above its current price level, but a break above here could allow it to see massively further upside in the coming few days.

BTC Looks Poised to See Further Upside, Claims Analyst

One popular trader explained in a recent tweet that Bitcoin’s price structure looks incredibly strong and may allow for further upside in the mid-term.

He also notes that Ethereum’s continued strength may help drag Bitcoin higher and protect it from any intense selloff.

“BTC: Structurally, this still looks great to me. It put in what I believe to the low last week at $29k and still believe the market (Eth mainly) will drag BTC up to range highs this week.”

Bitcoin

Image Courtesy of Resolute. Source: BTCUSD on TradingView.

If the sub-$30,000 dip does mark a long-term bottom, then Bitcoin could be starting the next phase of its growth cycle that leads to fresh all-time highs.

Featured image from Unsplash.
Charts from TradingView.

Ethereum is About to Post a Massively Bullish Signal as Bulls Take Charge

  • Ethereum has seen some immense strength in the time following its capitulatory plunge towards $1,000
  • The cryptocurrency’s V-shaped recovery has allowed it to gain serious ground against Bitcoin, even posting a massive breakout against the benchmark crypto
  • Where it trends next will undoubtedly depend largely on whether or not bulls can maintain their control over the market
  • BTC remaining stable is also important, as any intense BTC selloff could create headwinds that hamper ETH’s near-term growth
  • One analyst is now noting that Ethereum is on the cusp of posting an incredibly bullish long entry signal
  • If confirmed, this could be a sign that ETH’s uptrend is just getting started

Ethereum and the aggregated altcoin market is performing quite well as Bitcoin’s price action stagnates.

It appears that investors are moving further along the risk branch as they rotate out of BTC and into assets that have yet to see full-fledged price discovery.

There’s a strong possibility that Ethereum will lead the altcoin market’s next wave higher – as it is doing presently – which may mean that it has further room to rally in the short-term.

One analyst is pointing to a technical pattern that suggests ETH has massive upside potential in the near-term.

Ethereum Surges Towards All-Time Highs as Momentum Builds

At the time of writing, Ethereum is trading up nearly 10% against both its USD and BTC trading pairs, with a current price of $1,355.

The crypto is still trading off of its all-time highs, which sit around $1,450. There is a strong possibility that this is the next level that the cryptocurrency targets in the coming weeks.

It also recently broke out against its BTC trading pair, which indicates that it could be poised to see near-term upside.

Analyst: ETH is About to Post a Massive Long Signal

One analyst explained in a recent tweet that Ethereum is on the cusp of flashing a long entry signal with significant historical accuracy.

This could mean that a move past all-time highs is imminent.

“4h ETH: bullish TK cross above Cloud potentially coming soon (long entry signal),” he said while pointing to the below chart.

Ethereum

Image Courtesy of Josh Olszewicz. Source: ETHUSD on TradingView.

Unless Bitcoin plunges lower and takes the wind out of Ethereum’s sails, the crypto could be positioned to see upside.

Featured image from Unsplash.
Charts from TradingView.

Here’s the Key Demand Zone Ethereum Might Test Before Surging Higher

  • Ethereum has seen some notable strength today despite Bitcoin’s lackluster price action
  • This has allowed it to gain some serious ground on its BTC trading pair, and the crypto is on the cusp of seeing a massive breakout
  • Where it trends in the mid-term will undoubtedly depend at least partially on whether or not bulls can take firm control of its price action
  • Analysts have noted that where it trends in the mid-term will likely depend on its reaction to a few key levels
  • The current demand zone for the crypto sits around $1,160, whereas its resistance sits at $1,260
  • It rallied to this resistance level this morning before facing a rejection, but it has since shown some signs of strength

Bitcoin’s consolidation seen in the time following its sharp drop to lows of sub-$29,000 has proven positive for altcoins, with Ethereum and most other major cryptocurrencies all seeing some slight momentum.

ETH is now attempting to breakout against its BTC trading pair, with bulls pushing it up against a key level that has long held as resistance over the past week.

Where the crypto trends in the mid-term will likely depend on a combination of factors, including Bitcoin’s price action as well as its reaction to its near-term resistance levels.

One analyst is optimistic that upside is imminent.

Ethereum Surges Despite a Stagnating Bitcoin

At the time of writing, Ethereum is trading up over 1% at its current price of $1,250. It is also trading up several percent against its Bitcoin trading pair, with this momentum coming as BTC consolidates.

The entire market, aside from Bitcoin, is looking strong today, with Chainlink setting fresh all-time highs while many other altcoins rally.

Analyst: ETH Could Go Parabolic Once Key Level is Broken

One analyst explained in a recent tweet that Ethereum is currently at a crossroads, caught between key resistance at $1,260 and support in the mid-$1,100 region.

Where the cryptocurrency trends in the short-term will undoubtedly depend largely on which of these levels is broken first.

“BTC moved 9% down to take its low out. ETH would need to move 20% to take its low. ETH has been stronger and still has the daily structure in tact. If we look at a 9% correction it puts us in a demand spot at $1140 – $1160. Reclaiming $1260 may be enough strength to move on.”

Ethereum

Image Courtesy of Cold Blooded Shiller. Source: ETHUSD on TradingView.

The coming few days should shed some light on how Ethereum will ultimately resolve this rapidly forming trading range.

Featured image from Unsplash.
Charts from TradingView.

Ethereum Could See an Explosive Move Higher Following Massive 20% Surge

  • Ethereum has been trading as a higher beta asset to Bitcoin as of late, closely tracking the benchmark crypto but seeing more drastic movements
  • Last night’s Bitcoin selloff proved to be somewhat dire for ETH, with it sending the cryptocurrency down to lows of $1,040
  • This decline marks a 30% retrace from ETH’s recent highs of $1,450 that were set just a few days back
  • In the time since these lows were set, however, Ethereum has posted a strong v-shaped recovery that could mark a macro bottom
  • One trader spoke about its performance in a recent tweet, noting that its strength against Bitcoin also indicates that upside is imminent

Ethereum has seen some turbulent price action throughout the past few days and weeks, with the selling pressure around its all-time highs of $1,450 sparking an intense downtrend that was magnified by Bitcoin’s weakness.

This selloff turned into capitulation yesterday evening, and the crypto has been climbing higher ever since it saw a sharp pullback to lows of $1,040

One analyst is now optimistic on ETH, noting that the cryptocurrency’s strength against both Bitcoin and its USD pair suggests it could soon see some massive upside.

Ethereum Forms Classic “V-Shaped” Recovery 

At the time of writing, Ethereum is trading up over 20% from its overnight lows at its current price of $1,230.

The massive recovery it has seen has also allowed it to outperform Bitcoin, which is also up significantly from its recent lows.

ETH’s strong rebound may suggest that investors are keener on buying its dips because it has yet to break its all-time highs and see price discovery.

Analyst: ETH’s Rebound Suggests Massive Upside is Imminent

One analyst explained in a recent tweet that Ethereum’s rebound against its Bitcoin pair and USD pair suggests that it could soon see a “proper” rally.

This could mean that another test of its all-time highs is imminent, but this time the crypto may be able to shatter the resistance that exists here.

“ETH against BTC looks very good for continuation and a proper rally. Expecting large inefficient move on ETH if BTC shows some strength / dead-cat bounce today.”

Ethereum

Image Courtesy of Livercoin. Source: ETHUSD/ETHBTC on TradingView.

The coming few days should shine some light on Ethereum’s outlook, as an extension of this current momentum could lead to further upside in the days and weeks ahead.

Featured image from Unsplash.
Charts from TradingView.

Bitcoin Tests a Critical Resistance Following Overnight Rebound; What’s Next?

  • Bitcoin has seen some massive momentum throughout the morning that has allowed it to erase a good portion of the losses that came about due to yesterday’s plunge
  • This selloff marked capitulation amongst investors, with many clearly fearing that the multi-month uptrend that led BTC to highs of $42,000 was over and that a deep retrace was imminent
  • Nonetheless, bulls have since gained full control over the crypto’s price action, and it is now positioned to see significantly further near-term upside
  • One analyst is pointing to the recently broken below 200-day moving average as a key resistance that bulls are now trying to surmount
  • A firm break above this level could confirm that this bounce marks a full reversal of the recent downtrend

Bitcoin’s volatility as of late has led the market to see some immense turbulence over the past week, which has primarily favored bears.

However, BTC is now reversing its recent losses and may be on the cusp of continuing its parabolic uptrend, which could mean that this latest dip was simply a final shakeout for over-leveraged investors.

One trader is now closely watching Bitcoin’s reaction to its 200-day moving average.

He notes that this level has become resistance and that a flip above it would be technically significant.

Bitcoin Rebounds Following Yesterday’s Selloff

Bitcoin and the entire crypto market saw a few sharp selloffs over the past couple of days, which reached a boiling point yesterday evening when investor capitulation sparked a massive decline that sent it to $28,000.

It has since erased these losses and is in the process of reversing this downtrend. At the time of writing, the crypto is trading up 6% at its current price of $32,600.

So long as bulls maintain this momentum, there’s a strong possibility that the market will continue climbing higher in the days ahead.

BTC Must Flip 200-day Moving Average Back to Support

The 200-day moving average has long been a key level for Bitcoin, often playing the role of support and resistance.

Overnight, this level was broken below for the first time in months, and bulls are now trying to flip it back into support, as one analyst explained:

“The cloud has been supporting the price since 10,000$ and it is being tested as resistance for the first time now. This is where bulls want to see a bounce, the 200ema is not a pretty resistance to have.”

Bitcoin

Image Courtesy of Teddy. Source: BTCUSD on TradingView.

Unless Bitcoin faces a torrent of selling pressure that reverses this rebound, there’s a strong possibility that bulls will continue regaining control of the cryptocurrency’s price action.

Featured image from Unsplash.
Charts from TradingView.

Ethereum Maintains Bullish Market Structure Despite Selloff; Rebound Imminent?

  • Ethereum has seen an intense selloff ever since its price reached highs of $1,450 just a few days ago
  • The selling pressure here was rather intense and came about right as BTC started reversing its uptrend
  • This caused the aggregated market to see some intense selling pressure that has yet to alleviate
  • The crypto is now down nearly 20% from these highs, with bears continually placing massive selling pressure on its price
  • Where ETH trends will generally depend on Bitcoin, as the benchmark crypto has been guiding Ethereum’s general trend over the past few weeks
  • Any continued weakness could lead to a further breakdown, as many analysts are looking towards a test of the support at $1,100 and $1,000

Ethereum has erased almost all of the gains that came about due to the recent push higher, with bears taking full control of its price action as BTC also slides lower.

The cryptocurrency’s weakness shows no signs of ending for now, which may be due to Bitcoin’s inability to see any significant strength.

One analyst is noting that ETH is still looking technically poised to see further upside from a macro perspective, as the cryptocurrency’s long-term technical structure actually remains quite bullish.

Ethereum Struggles to Gain Momentum as Bitcoin Plunges

Bitcoin has caused the entire crypto market to nuke lower today. At the time of writing, Ethereum is trading down over 13% at its current price of $1,190, which marks a notable decline from its recent highs of $1,450 set just a couple of days ago.

The selling pressure seen at these highs was intense and, coupled with BTC’s bearishness, created an intense stream of selling pressure that has yet to subside.

It is currently trading above a strong support zone, but it remains unclear how long this will hold.

Analyst: ETH Shows Some Signs of Strength Despite Capitulatory Selloff 

One analyst explained that Ethereum is still flashing some signs of strength today despite the intense selloff seen throughout the past two days.

He notes that ETH’s overall market structure is still looking strong despite the severity of this latest pullback.

“Ethereum: it is still by far the best looking altcoin in terms of price structure. – Above the cloud – Just tested all time high – Rejection but still above the previous low.”

Ethereum

Image Courtesy of Teddy. Source: ETHUSD on TradingView.

Unless Bitcoin continues plunging lower, there’s a strong possibility that Ethereum will begin bottoming out and revert its momentum into bulls’ control.

Featured image from Unsplash.
Charts from TradingView.

Fractal Suggests Ethereum May Face Further Chop Before Seeing Parabolic Rally

  • Ethereum has posted some mixed price action throughout the past few days, testing its all-time highs earlier this week before facing a swift selloff overnight
  • The timing of the BTC selloff that placed pressure on ETH was unfortunate, as it has led ETH to mark its highs as a local top
  • This means that the mid-$1,400 level may remain intense resistance for the cryptocurrency in the short-term
  • While sharing his thoughts on this price action, one analyst explained that ETH is now following in Bitcoin’s footsteps
  • He notes that BTC also faced a rejection at its highs following the first test, which was followed by an intense selloff
  • The crypto then posted a rebound that came about right before it saw a parabolic move higher

Ethereum has been caught in the throes of pretty wild volatility throughout the past few days. The crypto rallied as high as $1,450 yesterday before losing its momentum and facing a rejection that caused it to slide lower.

BTC’s overnight weakness perpetuated this movement, causing it to see some massive downside that let it as low as $1,200 just hours ago.

The buying pressure here was quite intense and helped spark a strong rebound, and it has been rallying higher ever since.

Ethereum Rebounds from Daily Lows as Bitcoin Dictates Market Movements

At the time of writing, Ethereum is trading down over 5% at its current price of $1,300. This marks a notable slide from its recent highs of $1,450 that were set yesterday morning.

It also marks a rebound from overnight lows of $1,200 that came about in the midst of this latest selloff, with bulls currently trying to form a short-term bottom.

As long as bulls can continue guarding against a decline to its local lows, $1,200 might mark a bottom that is followed by further upside.

This BTC Fractal Could Mean ETH Will Slide Lower Before Setting New Highs

One trader recently pointed to a fractal of Bitcoin’s reactions to its all-time highs, comparing it to the reaction that Ethereum has seen throughout the past couple of days.

He notes that BTC briefly broke its highs before facing a rejection and slight downtrend, which ultimately led to a sharp selloff followed by a rebound that kicked off its parabolic journey higher.

“The similarities continue. The majority of you deserve this. Drawn into discussing the upside targets without appreciation that $ETH hasn’t completed the job in this range first. Day of consolidation at the highs, the same as BTC before heading lower. It’ll come, just not yet.”

Ethereum

Image Courtesy of Cold Blooded Shiller. Source: ETHUSD on TradingView.

The coming week should validate whether or not Ethereum will continue tracking this fractal.

Featured image from Unsplash.
Charts from TradingView.

Bullish Dumping: Bitcoin Sheds Thousands Off Price as Funding Rates Reset

  • Bitcoin has seen some intense selling pressure throughout the past 12 hours that has caused it to shed thousands off its price
  • This move came about following a failed attempt by bulls to send it up to highs of $38,000 yesterday
  • The rejection here confirms that BTC is still firmly range-bound, with whales selling in the upper-$40,000 region and buying in the lower-$30,000 region
  • So long as bulls continue guarding the support right below where it is currently trading, there’s a strong possibility that upside is imminent
  • One trader is even deeming this selloff as potentially bullish, noting that it helped reset high funding rates and cleanse the market of “degenerate” positions

Bitcoin has been struggling to gain any momentum throughout the past several weeks. Following its rally past $40,000 that resulted in a strong rejection, the crypto has been range-bound between $30,000 and $40,000.

This has allowed altcoins to see some notable momentum, although declines like the one seen today have weighed heavy on their price action.

One trader is noting that there’s a bright side to this selloff, the market was overdue for a correction to sweep liquidity, reset premiums, and liquidate the vast sea of massively leveraged long positions.

Bitcoin Sheds Thousands Off Price Following $38,000 Rejection

At the time of writing, Bitcoin is trading down just over 2% at its current price of $35,100. The crypto rallied as high as $38,000 yesterday before facing a harsh rejection that paved the way for the overnight decline.

Bears sent BTC as low as $34,000 overnight, with the buying pressure proving somewhat significant.

It does appear to be funding some strong support at the moment, which could mean that it will soon see a reversal back into bulls’ favor.

Could This Selling Actually Be… Bullish?

All selloffs are not created equal, and this one may actually be unique in that it lays the groundwork for a more sustainable move higher.

One analyst spoke about this possibility, explaining that degenerate leverage positions have widely been cleared, giving way for a potential Bitcoin rebound.

“Man I love this dump. Nature is healing. Cleanse the market from these degenerates,” he said.

Bitcoin BTC

Image Courtesy of Byzantine General.

Where the entire market trends in the coming few days should provide some insight into the significance of this Bitcoin movement.

Featured image from Unsplash.
Pricing data from TradingView.

Latest CME Report Reveals Growing Appetite for Bitcoin Amongst Institutions

  • Bitcoin has been consolidating within the $30,000 region throughout the past few days and weeks
  • Bulls and bears have largely reached an impasse, with buyers and sellers both being unable to spark any trend
  • This comes as large institutional inflows show some signs of tapering, with these buyers largely being viewed as the ones responsible for the recent market-wide surge
  • The latest Commitment of Traders (CoT) report from the CME reveals a striking trend – institutions are increasingly adding to their long exposure
  • This seems to invalidate the notion that institutions are slowing their accumulation habits and may point to an imminent wave two of buying from these parties

Bitcoin has seen mixed price action as of late, with the selling pressure in the upper-$30,000 region slowing its ascent as bulls and bears largely reach an impasse.

Where the crypto market trends in the mid-term may depend largely, if not entirely, on whether or not Bitcoin can continue stabilizing or break above $40,000.

Any strong rejection here could cause the crypto to see some notable losses that potentially lead altcoins to follow suit and selloff as well.

One positive trend that seems to bode well for Bitcoin’s outlook is growing long-exposure from institutions using the CME.

This trend suggests that institutions are still pouring money into the market.

Bitcoin Stagnates as Consolidation Phase Persists

At the time of writing, Bitcoin is trading up just under 2% at its current price of $36,700. This marks a notable decline from daily highs of nearly $38,000 set just a couple of hours ago.

The entire market retraced with BTC, but ETH and other altcoins are all trading up significantly from where they were just a few days ago.

Institutional Traders Are Increasingly Long on BTC

One positive trend for Bitcoin is the growing presence of institutions in the market, which is a large part of why it has been rallying so heavily throughout the past few months.

Although they may be bidding less aggressively on BTC as it hovers around its all-time highs, data from the CME’s latest Commitment of Trader’s report indicates that long interest for BTC amongst institutions is steadily climbing.

“12 – January CME $BTC Commitments of Traders (COT) report – Open Interest: 12,039 up 6.5%”

Bitcoin

Image Courtesy of Unfolded. Source: TradingView.

The coming few days should shine some light on whether or not the constant rejection seen by Bitcoin in the upper-$30,000 region will have any impacts on its mid-term trend.

Featured image from Unsplash.
Charts from TradingView.

Ethereum Rallies Towards All-Time Highs as BTC Stalls; What Analysts are Saying

  • Ethereum has seen a monumental rally throughout the past couple of days, with bulls taking full control over its price action
  • This has come as BTC remains relatively stable in the upper-$30,000 region, with its stability giving altcoins the chance to rally
  • ETH has yet to set fresh all-time highs despite its recent gains, but the crypto could be on the cusp of surging even higher as it begins establishing some support just below its current price
  • One analyst is now pointing to a fractal showing Bitcoin’s reaction to its local highs several weeks ago
  • If ETH follows in its footsteps, it may see a pullback before it can rally to all-time highs

Ethereum and many other altcoins have been caught in a wild uptrend throughout the past few days and weeks.

Buyers and sellers had both been struggling to gain firm control of ETH’s price action, with the recent breakout rally marking a firm end to this previous trend.

Despite being bullish on ETH in the mid-term, one analyst is now noting that there’s a possibility it will pull back before it can gain further momentum.

This possibility is rooted in an analysis of Bitcoin’s price action when it moved to break its local highs in late-2020.

Ethereum Rockets Higher as Crypto Market Stalls 

At the time of writing, Ethereum is trading up just under 12% at its current price of $1,407. This marks a notable rebound from its recent lows of $900 set just a few weeks ago.

The crypto is now in the process of taking outs its previous local highs.

This doesn’t come as a surprise, but there is some resistance within the mid-$1,400 region from bears looking to defend against a break above these highs.

Once flipped to support, however, ETH could gain parabolic momentum similar to that seen by Bitcoin and multiply its previous all-time highs.

Trader: ETH Could Slide Lower Before Seeing Further Parabolic Momentum

One trader mused the possibility that Ethereum will follow in Bitcoin’s footsteps and slide lower after taking out its highs before seeing further momentum.

“The high has now been taken. Let’s see the ETH response from here. BTC spent 24 hours around its high before eventually selling off so not expecting an immediate response. Bulls (and me) hoping for a power through instead of a grind here.”

Ethereum

Image Courtesy of Cold Blooded Shiller. Source: ETHUSD on TradingView.

The coming several days should provide some insights into Ethereum’s outlook, which Bitcoin will undoubtedly play some role in shaping.

Featured image from Unsplash.
Charts from TradingView.

Altcoins Fly as Bitcoin Ranges: What Analysts Think Comes Next for BTC

  • Bitcoin has seen some mixed price action as of late, with bulls and bears largely reaching an impasse as the cryptocurrency consolidates
  • Where it trends next will undoubtedly depend largely on whether or not bulls can break the ongoing consolidation phase and spark a move higher
  • This will likely only come about if BTC can flip $40,000 into support, as this has proven to be an intense resistance level
  • While sharing speaking about BTC’s price action, one analyst explained that it is currently caught within a relatively large pennant
  • As such, he expects it to see further consolidating in the near-term that allows altcoins to rally

Bitcoin has been struggling to gain any clear momentum as of late, with the cryptocurrency’s price action largely consisting of range-bound trading between $30,000 and $40,000.

This large trading range has held strong throughout the past couple of weeks, and any attempt to break either of the boundaries has resulted in rapid rejections.

Where the market trends in the mid-term will likely depend largely – if not entirely – on whether or not bulls can continue guarding against any breakdown.

One trader expects further sideways trading in the mid-term, noting that he believes this will prove to be bullish for altcoins.

Bitcoin Continues Consolidating as Bulls Struggle to Spark a Breakout

At the time of writing, Bitcoin is trading up just under 2% at its current price of $36,400. This marks a notable decline from the crypto’s overnight highs of $37,500 set when bulls tried to take control of its price action.

The selling pressure seen at these highs speaks to the resistance in the upper-$30,000 region, but it also has equally strong support in the lower-$30,000 region.

How it reacts to these levels in the weeks to come should shine a light on its near-term outlook.

Altcoins May Fly as BTC Continues Consolidating

One analyst explained that he believes Bitcoin will continue consolidating until it resolves a large pennant formation that it is currently caught within.

This could prove to be incredibly bullish for altcoins, he claims.

“BTC 4H: Bitcoin is still ranging inside of this pennant. This consolidation is very good for altcoins. I will heavily trade alts as long we stay inside of the triangle.”

Bitcoin

Image Courtesy of SilverBullet. Source: BTCUSD on TradingView.

Assuming this pennant results in an upwards breakout, it could allow Bitcoin to regain some of its market dominance that has been taken by altcoins throughout the past few days and weeks.

Featured image from Unsplash.
Charts from TradingView.

Ethereum is About to Flip a Key Resistance Level into Support; New Highs Imminent?

  • Ethereum has seen some mixed price action as of late, with the cryptocurrency mainly taking its cues from Bitcoin
  • This has caused it to struggle to gain any serious momentum, with its price being stuck within the mid-$1,200 region throughout the past few days
  • The selling pressure at $1,300 has catalyzed a strong rejection in the past, confirming this level as resistance
  • Where it trends next will undoubtedly depend largely on ETH and whether or not the entire market can gain any momentum in the near-term
  • One analyst is noting that Ethereum could be on the cusp of seeing a massive move higher once it can flip one key level into support

Ethereum and the entire cryptocurrency market have seen mixed price action throughout the past few days and weeks.

The selling pressure seen each time ETH ventures into the mid-$1,200 region is quite intense and may indicate that further downside is imminent in the near-term.

One analyst is still incredibly bullish on the crypto, however, noting that there’s a strong possibility it sees a test of its all-time highs if it can flip $1,250 into support.

Ethereum Consolidates Alongside Crypto Market as Momentum Stalls

At the time of writing, Ethereum is trading down marginally at its current price of $1,230, which is around where it has been trading throughout the past couple of days.

The crypto made an attempt to break above $1,300 just a couple of days ago, but the selling pressure here was quite intense and sparked a rejection.

Where it trends in the mid-term should depend largely on whether or not bulls can continue forming a strong base of support between $1,200 and $1,230. Holding above this level could lead to significant upside.

Analyst Claims ETH Could Rally Higher if It Flips $1,250 to Support

One analyst explained in a recent tweet that he is closely watching for Ethereum to flip $1,250 into support before it can see any significant near-term upside.

He notes that a break above this level could lead to a test of all-time highs and that bulls must defend against a break below $1,170.

“ETH / USD: Currently my thoughts on ETH at the moment in terms of lower timeframe momentum. I will get a newsletter out later today going into more detail and what to expect with PA. The best long R:R right now is PA flipping $1250 into support, looking to remain above $1170.”

Ethereum

Image Courtesy of Cactus. Source: ETHUSD on TradingView.

Ethereum is currently trading at a pivotal point. How it continues reacting to the key levels just above and below its current price should provide some significant insights into its mid-term outlook.

Featured image from Unsplash.
Charts from TradingView.