Bitcoin (BTC) buyers held support around $40,000 as oversold signals appeared on the charts. The recent bounce suggests the cryptocurrency is starting to recover after a near-30% decline from its all-time high around $69,000 in November.The relative strength index (RSI) on the four-hour chart is approaching overbought levels, similar to what occurred in late-December, which … [Read more...] about Bitcoin Rises Above $43K; Resistance at $45K-$48K
Rises
Bitcoin Rises from Oversold Levels; Faces Resistance Near $45K
BTC is the most oversold since Dec. 10, according to the relative strength index (RSI) on the daily chart. Typically, oversold readings precede price recoveries, similar to what occurred in late-September. This time, however, price reaction to the RSI and other indicators has been delayed. Source link … [Read more...] about Bitcoin Rises from Oversold Levels; Faces Resistance Near $45K
Iris Energy’s December Hashrate Rises 14% as Revenue Falls Again
Two new sites in British Columbia will bring in a combined 3.9 exahash/s (EH/s) when operational, Iris Energy said. One site in Mackenzie will deliver 1.5 EH/s in 2022, with the first 0.3 EH/s expected Q2 2022, and another in Prince George will deliver 1.4 EH/s in Q3 2022, expanding to 2.4 EH/s sometime in 2023, according to the statement. Source link … [Read more...] about Iris Energy’s December Hashrate Rises 14% as Revenue Falls Again
Bitcoin Holds Support Ahead of Fed Minutes, March Rate Hike Probability Rises
“If the Fed goes to 4 hikes next year, that is a big statement. That means either two things. First, they are hiking in March, which would be no gap between the end of QE and the first hike. Not impossible, but that is a big statement about intent,” John Turek, the author of the Cheap Convexity blog, said in a blogpost published on Dec. 29. “If they don’t go in March and want … [Read more...] about Bitcoin Holds Support Ahead of Fed Minutes, March Rate Hike Probability Rises
Market Wrap: Altcoins Outperform as Ether Rises Toward $4K
Alternative cryptocurrencies (altcoins) were in the spotlight on Thursday as bullish sentiment returned to crypto markets. Bitcoin (BTC) continued to stabilize near $46,000, near its 200-day moving average – a key technical support level that, if broken, could lead to further selling pressure.For now, bitcoin appears to be oversold, and was down about 2% over the past 24 hours. … [Read more...] about Market Wrap: Altcoins Outperform as Ether Rises Toward $4K