Bitcoin’s (BTC) price broke through the crucial level at $35,000 and continued its run above $40,000 on Feb. 6, just days after MicroStrategy's pitched Bitcoin to over 1,4000 companies. This breakout above $35,000 earlier this week was significant as it opened the door to a new all-time high test. The final hurdle at $40,000 has prevented BTC from a new all-time high, while many all-time highs were established by altcoins during the past week. Indeed, the crypto market is going parabolic as most investors have been seeing substantial increases in their portfolio sizes. However, the rally in DeFi alts, in …

Bitcoin (BTC) has seen a turbulent past few days after Elon Musk showed support for the cryptocurrency amid the GameStop fiasco on the equity markets. However, since that tweet, Bitcoin’s price has been correcting after the entire push through Elon Musk was retraced. Since then, Bitcoin’s price is facing a crucial hurdle at the $35,000–$35,200 area before an all-time high test. Once that area breaks and flips for support, continuation toward a new all-time high is likely. Bitcoin doesn’t hold $35K and has to flip it for support The three-hour chart shows a clear downtrend structure, with the "Elon Musk …

Over the past seven days, the crypto market saw an uptick in volatility as Bitcoin (BTC) and Dogecoin (DOGE) price rallied higher simply because of social media activity. In situations like these, traders who make their investment decisions based on emotions tend to incur heavy losses and this is exactly what happened last week. Dogecoin’s (DOGE) recent pump and dump caused several new traders who bought due to FOMO to lose money within a short time and this scenario is likely to play out again as social media groups have decided that collective pumps of altcoins is a new method …

Bitcoin (BTC) has seen a very volatile week, as the price of Bitcoin jumped around from $32,000 to $38,500 and back toward $33,000 in a matter of 24 hours. The initial spike to $38,500 happened in minutes after Elon Musk added #Bitcoin to his Twitter profile. However, no follow-up of that price movement was seen on the charts as Bitcoin dropped substantially in the following hours. Currently, the $34,500 area is a significant resistance zone to break through if the market wants to sustain the bullish momentum. Failure to break $38,000 causing dropdown The levels that are critical to watch …

Bitcoin (BTC) has been correcting since the peak high at $42,000. However, this correction might have ended as a significant momentum shift occurred in recent days. The GameStop debacle raised many questions about big parties' trustworthiness and exchanges, after which more and more people started to claim that decentralization is the future. Among these people is Elon Musk who is worth nearly $183 billion, according to Forbes making him the world's richest person. The Tesla CEO included #Bitcoin in his Twitter profile and also wrote "in retrospect, it was inevitable." A very cryptic message to his 44 million followers, which …

Bitcoin (BTC) has been consolidating since its recent all-time high at $42,000 and has risen back above $34,000 at the time of writing. The current correction is currently at 30% already, as Bitcoin’s price has bounced from the $30,000 region several times. However, it remains to be seen whether Bitcoin’s price will start accelerating once again or whether BTC price needs more consolidation to build up strength. Several periods of accumulation were seen in 2020, where Bitcoin’s price ranged for a period of a few months. Such a period is, in fact, needed to build strength for continuation. The primary …

As Bitcoin price trade sideways, traders are keeping an eye out for new purchases from institutional investors in order to gauge whether BTC's correction is over. MicroStrategy’s recent purchase of 314 Bitcoin at an average price of $31,808 is a mild sentiment booster but it may not be enough to arrest the decline if buyers do not step in and sustain their purchases at higher levels. A recent timezone analysis by QCP Capital divided the Asia and U.S. trading sessions into a 12-hour bracket and found that since March 2020 Bitcoin price had risen during U.S. hours due to sustained …

Chainlink (LINK) remains to be one of the best performing cryptocurrencies in the past twelve months. As of Jan. 23, LINK is now bigger than Litecoin (LTC) and now number seven at $9.2 billion market capitalization, after surpassing Bitcoin Cash earlier this week. The LINK price surge also coincided with rumors this week that Grayscale is preparing to add a Chainlink Trust product. This news event likely played a part in the price of Chainlink rallying toward new all-time highs, making LINK, once again, one of the best performing cryptocurrencies. What is the key support level? The daily chart for …

Bitcoin (BTC) has seen a massive surge in the past two months, in particular, as institutions jumped into the new asset class. The latest is Blackrock, announcing interest in trading in Bitcoin futures while Grayscale continues to scoop up BTC at an accelerating pace. However, after a massive surge, the asset’s price has to come down for some tests of support as investors take profit. This is the beautiful cyclical nature of supply and demand. BTC/USD is currently in a corrective phase since Bitcoin’s rally became overextended above $40,000. The primary question is how far the correction will go from …

As Bitcoin’s (BTC) price has been consolidating in recent weeks, many other crypto assets started to show strength. This was largely expected since altcoins generally do better once BTC cools down. Lower volatility in Bitcoin means higher volatility for altcoins as the money flows from Bitcoin to altcoins. Ether (ETH), for example, is now looking to break its all-time high almost a month after Bitcoin's surpassed its own milestone. However, one of the biggest gainers in recent days is Yearn.finance (YFI), which is approaching its own all-time high at $47,000, and whose rally is also being boosted by the launch …

Bitcoin (BTC) price has yet to recapture the $40,000 level and traders who were expecting a quick resumption of the uptrend may have been caught off guard by the recent pullback. This could have led to the liquidation of about $500 million worth of cryptocurrency futures positions in the past 24 hours. Over leveraged positions provide the necessary ammunition during the uptrend, but they become a liability when the trend reaches an inflection point. When the markets turn down, leveraged long positions quickly turn into a loss, resulting in margin calls from brokers. When the margin requirements are not met, …

Bitcoin (BTC) has made significant moves already this year but altcoins are catching up. Once Bitcoin’s price starts to stabilize, the market environment becomes better for altcoins to begin their run. One of the strongest performers in 2021 is Polkadot, as this cryptocurrency has been making new all-time highs day in, day out. Polkadot’s price rallied by 85% in 2021 and 75% in the past seven days, surpassing XRP in market capitalization. DOT price eyes $20 or higher after this rally The daily chart of Polkadot shows a rounded bottom construction throughout the last quarter of 2020. Since then, a …