• About Us
  • Privacy Policy
  • Contact Us
Newsletter
Kelscrypto
  • Home
  • Bitcoin
  • Ethereum
  • Cryptocurrency
    • Altcoin
    • Litecoin
  • Blockchain
  • Regulation
  • Market
  • Prices
  • Discord
No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Cryptocurrency
    • Altcoin
    • Litecoin
  • Blockchain
  • Regulation
  • Market
  • Prices
  • Discord
No Result
View All Result
Kelscrypto
No Result
View All Result
Home Bitcoin

Bitcoin is Nearing Key Resistance as Market Posts Massive Rebound

January 14, 2021
in Bitcoin
0
Bitcoin Indicator That Signaled 10x Rally in 2017 Flashes Again
Share on FacebookShare on Twitter




  • Bitcoin has seen some immense volatility as of late, with bulls reversing its recent losses entirely overnight as they regain control of the crypto
  • This price action confirms that the latest selloff was one that is quite common during bull markets when the crypto retraces 30-40% before continuing its ascent
  • BTC’s strength is creating tailwinds for the entire market, as ETH and most other major altcoins have also surged higher
  • One trader is now noting that he is flat on Bitcoin, for the time being, cautioning that the resistance around $40,000 could be quite significant and cause it to see a notable pullback
  • Once it can break above this level, however, the crypto could see some massive upwards momentum that leads it to new highs

Bitcoin and the entire cryptocurrency market have exploded higher today, with bulls taking full control of the market as they look to reverse the recent downtrend.

This market-wide strength shows few signs of slowing despite the resistance that Bitcoin is facing within the lower-$40,000 region.

The longer it consolidated below this level, the better poised it may be to post a breakout rally that sends it flying past here.

One trader explained that he is now watching for a break above $40,000 before he flips long on the cryptocurrency. He notes that this is a crucial level, and any strong rejection could lead to significantly further downside.

Bitcoin Explodes to $40,000 as Uptrend Resumes

At the time of writing, Bitcoin is trading up just over 5% at its current price of $39,400. This marks a notable surge from its recent lows of $30,000 set just a few days ago during a market-wide selloff.

Where the entire market trends next will undoubtedly depend on whether or not bulls can maintain their present momentum, as use it to shatter the $40,000 resistance level.

Analyst Claims BTC Still at Risk of Seeing Downside Until $40,000 is Flipped to Support 

While sharing his thoughts on where Bitcoin might trend in the short-term, one analyst explained that he is closely watching to see its reaction to $40,000.

“Nice pop out of the ascending triangle for $BTC. I’m flat as we approach this horizontal resistance zone. I’d be surprised if we blow through to new highs on the first attempt, but BTC has surprised me plenty of times before.”

Bitcoin

Image Courtesy of Jonny Moe. Source: BTCUSD on TradingView.

The coming few days should provide insights into Bitcoin’s strength as it pushes against a crucial resistance level.

Featured image from Unsplash.
Charts from TradingView.





Source link

Tags: BitcoinKeyMarketmassiveNearingPostsReboundResistance
Share83Tweet52

Related Posts

Bitcoin Indicator Says The Top Is In

Bitcoin Indicator Says The Top Is In

April 12, 2021
0

Bitcoin price has finally closed a weekly candle over $60,000 on Binance for the first time in the asset’s...

MicroStrategy buys another $10 million of Bitcoin, and it’s now sitting on $1.14 billion worth of the asset

MicroStrategy becomes the first American company to pay its directors in Bitcoin (BTC)

April 12, 2021
0

MicroStrategy board directors will now be paid in Bitcoin, CEO Michael Saylor said in a tweet today.“The Board of...

Here’s how former Coinbase CTO Balaji Srinivasan says India should embrace crypto

Here’s how former Coinbase CTO Balaji Srinivasan says India should embrace crypto

April 12, 2021
0

Former Coinbase CTO Balaji Srinivasan says India must enable cryptocurrency payments and related services for its citizens on several...

Wall Street fund manager that called for $400,000 Bitcoin tells followers to “take money off the table”

Bitcoin inches to $61,000, but on-chain data turns ‘mostly bearish’

April 12, 2021
0

Bitcoin inched closer to its $61,711 all-time high price over the weekend amidst strong adoption and favorable sentiment for...

Bitcoin Weekly Outlook: Breakout Over $60K Expected on Coinbase Listing

Bitcoin Weekly Outlook: Breakout Over $60K Expected on Coinbase Listing

April 12, 2021
0

Key Bitcoin Takeaways Bitcoin flirts with $60,000 for a breakout move. The cryptocurrency is trending inside a classically bullish...

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Huobi-Branded Crypto Exchange Launches for Malaysian Market

Huobi-Branded Crypto Exchange Launches for Malaysian Market

November 27, 2020
Despite losing $120M in a day, MicroStrategy is still up on its Bitcoin investment

Despite losing $120M in a day, MicroStrategy is still up on its Bitcoin investment

November 27, 2020
Yes, You Can Spend Your Bitcoin This Black Friday

Yes, You Can Spend Your Bitcoin This Black Friday

November 26, 2020
Bitcoin derivatives market hasn’t been this wrecked since the March crash

Bitcoin derivatives market hasn’t been this wrecked since the March crash

November 27, 2020
Bitcoin Indicator Says The Top Is In

Bitcoin Indicator Says The Top Is In

0
Australia and Singapore to Trial ‘Paperless’ Trade Using Blockchain Technology

Australia and Singapore to Trial ‘Paperless’ Trade Using Blockchain Technology

0
BitTorrent (BTT) Throws Another Jab at Filecoin (FIL)

BitTorrent (BTT) Throws Another Jab at Filecoin (FIL)

0
What makes the crypto market’s rise to $500 billion different from 2017?

What makes the crypto market’s rise to $500 billion different from 2017?

0
Bitcoin Indicator Says The Top Is In

Bitcoin Indicator Says The Top Is In

April 12, 2021
MicroStrategy buys another $10 million of Bitcoin, and it’s now sitting on $1.14 billion worth of the asset

MicroStrategy becomes the first American company to pay its directors in Bitcoin (BTC)

April 12, 2021
Here’s how former Coinbase CTO Balaji Srinivasan says India should embrace crypto

Here’s how former Coinbase CTO Balaji Srinivasan says India should embrace crypto

April 12, 2021
Wall Street fund manager that called for $400,000 Bitcoin tells followers to “take money off the table”

Bitcoin inches to $61,000, but on-chain data turns ‘mostly bearish’

April 12, 2021

We have all the latest updated and legitimate information related to Blockchain, Cryptocurrency, latest market rates & trends, prices, new regulations along with every other thing that somehow related to crypto or digital currency market. Our main idea is to provide the kind of news that is original and at the same time, it can prove to be beneficial for our audience.

Categories

  • Altcoin
  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Ethereum
  • Litecoin
  • Market
  • Regulation

Archives

  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020

Newsletter

  • About Us
  • Privacy Policy
  • Contact Us

© 2020 kelscrypto.com

No Result
View All Result
  • Home
  • Bitcoin
  • Ethereum
  • Cryptocurrency
    • Altcoin
    • Litecoin
  • Blockchain
  • Regulation
  • Market
  • Prices
  • Discord

© 2020 kelscrypto.com