Meanwhile, the Relative Strength Index (RSI), a price-chart indicator, for bitcoin slid to favorable levels in European trading hours on Tuesday after reaching overbought conditions last Friday. The tool calculates market momentum for assets, and an overbought level implies prices are overvalued and may be primed for a trend reversal or corrective price pullback. Source link … [Read more...] about Bitcoin Long-Term Holders Stay Strong Despite $20K Drop From Last Month’s High
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Bitcoin price gains 6% as Bloomberg analyst favors $40K over $20K next
Bitcoin (BTC) is “more likely” to hit $40,000 than $20,000, Bloomberg argues, as the largest cryptocurrency gains 6% in a day.BTC/USD 1-hour candle chart (Bitstamp). Source: TradingViewMcGlone eyes “enduring bull market bottom”Data from Cointelegraph Markets Pro and TradingView showed BTC/USD reclaiming the $35,000 mark amid new bullish forecasts from analysts.In a tweet on … [Read more...] about Bitcoin price gains 6% as Bloomberg analyst favors $40K over $20K next
Bitcoin can still drop to $20K but holding remains winning strategy, data shows
Unloading Bitcoin (BTC) spot positions when it starts crashing violently upon forming its all-time highs is a bad investment call, at least according to its historical price action.The flagship cryptocurrency's eleven-year lifetime has seen it undergoing many bullish and bearish cycles. The BTC/USD exchange rate typically rises parabolically. It later trims more than half of … [Read more...] about Bitcoin can still drop to $20K but holding remains winning strategy, data shows