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Bitcoin and Cryptocurrency Market Analysis – 26.10.2020

In a week where equity markets have stagnated, bitcoin bucked the trend as it pushed through the $12,000 resistance level, as well as touching and seeing some resistance at $13,000. Altcoins were buoyed by bitcoin’s rise, with ETH, XRP, LTC, and chainlink all showing upward trajectories too.  Simon Peters, Analyst, eToro Shares His Opinion On…

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This Technical Indicator Suggests Bitcoin Has Formed a Local Top

Bitcoin’s price is seeing a slight consolidation phase as it trades around $13,000 The selling pressure around $13,200 has proven to be significant but bears inability to spark any significant retrace points to some weakness amongst sellers If bulls can provide BTC with a strong foothold within this price region, there’s a strong chance that…

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75% Chance Bitcoin Breaks Bullish Towards $12K, Analyst Asserts

There is a 75 percent possibility that Bitcoin breaks bullish out of its ongoing consolidation pattern. According to independent analyst Vince Prince, the benchmark cryptocurrency is making “marginal” upside movements in an Ascending Channel structure. That has left it with two possible outcomes. First, Bitcoin consolidates inside the Channel while breaking below the “Ascending Trendline”;…

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4 Crucial On-Chain Trends Show That Bitcoin’s Trend Is Bullish

Bitcoin has dropped over the past few days after news revealed that OKEx had frozen withdrawals. The price of the leading cryptocurrency slipped from $11,750 to $11,450 where it is now. The leading cryptocurrency is primed to appreciate in the long run despite short-term weakness. One crypto-asset analyst noted that there is a confluence of…

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Bitcoin Analyst Reveals What’s Holding Price Above $10K: Its China

Bitcoin has shown an extreme resilience against bears that want to crash its spot rate below $10,000. And an on-chain analyst explains why. Forex professional Cole Garner issued a string of tweets earlier Tuesday to illustrate a divergence between Bitcoin’s bearish price moves and its growing network activity last week. The cryptocurrency fell to as…

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