We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now


It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

BTC Bulls Ride the Bullish Wave Amidst Market Volatility

Share On Facebook
share on Linkedin

Bitcoin’s market has demonstrated remarkable resilience, utilizing the confluence zone of bullish trend lines on the daily chart to find support for its ascent. At the forefront of this upward trajectory lies a liquidity region, notably around $73,700, which has consistently acted as a price magnet, pulling the value upwards. Moreover, the psychological threshold of $80,000 emerges as an enticing price target, underscoring investor sentiment and market dynamics.


Key BTC Levels to Monitor

Demand Levels: $59,310.0, $50,520.0, $38,510.0
Supply Levels: $80,000.0, $85,000.0, $90,000.0

BTC Bulls Ride the Bullish Wave Amidst Market VolatilityInsights from Technical Indicators

Moving Averages:
The Moving Averages of Periods 30 and 50, which provide insights into longer-term trends, have remained consistently positioned below the price since February. This positioning indicates that the periodic dips in price are merely temporary corrections within the overarching bullish trend. Such sustained positioning underscores the strength of the upward momentum and suggests a favorable environment for continued price appreciation.

Moving Average Convergence Divergence (MACD):
The MACD, a widely used momentum indicator, has played a pivotal role in gauging market dynamics. The bearish cross observed in March served as a crucial signal, indicating the initiation of a correction within the bullish trend. However, recent developments suggest a potential reversal of this¬†bearish sentiment. The MACD histogram bars, which had previously indicated a downturn, have now diminished in size, signaling a resurgence in buying pressure. This shift in momentum hints at a possible resurgence in bullish sentiment, bolstering the prospects for further upward movement in Bitcoin’s price.

In summary, Bitcoin’s market continues to ride the waves of bullish momentum, leveraging key technical indicators and support levels to navigate through periods of volatility. While challenges persist, particularly amidst macroeconomic uncertainties, the prevailing indicators suggest a resilient market poised for further growth. As investors monitor these indicators closely, the confluence of bullish trend lines and supportive technical metrics paints a promising picture for Bitcoin’s trajectory in the near term.

Learn from market wizards: Books to take your trading to the next level

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

Do you want to write for our Newspaper? Get in touch: