Has The Bitcoin Bull Run Begun? Here’s Where BTC Price is Heading Next
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Price Analysis
Has The Bitcoin Bull Run Begun? Here’s Where BTC Price is Heading Next
Author: Nidhi Kolhapur
Feb 9, 2024 7:53
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New Bitcoin High For 2024
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Eric Krown Crypto suggests Bitcoin is poised for a rally, with key indicators showing a shift in momentum after a period of sideways movement.
The analyst emphasizes caution and advises waiting for market confirmation before making significant trades, amidst the ambiguity of Bitcoin's future direction.
Renowned cryptocurrency analyst Eric Krown Crypto has discussed Bitcoin’s recent performance, suggesting that the digital currency is poised for a rally. In his latest analysis, Krown points to several key indicators that signal a shift in momentum for Bitcoin.
According to Krown, Bitcoin’s price action has finally begun to show signs of a rally after a period of sideways movement. He notes that the cryptocurrency has managed to stay above critical support levels, indicating bullish sentiment among investors.
What Next For BTC Price?
One of the key factors contributing to Krown’s optimism is Bitcoin’s position above the $43,500 mark. He explains that as long as Bitcoin maintains this level, the bullish outlook remains intact. Krown also identifies a potential target of $54,500 for Bitcoin in the near term based on technical analysis and market trends.
Krown stresses the importance of monitoring technical indicators. According to Krown, these indicators suggest that Bitcoin could experience further upside momentum in the coming days.
He believed this could be the bounce the market has anticipated. However, he warned that it’s unclear whether this bounce signifies an actual reversal or is merely a trap. He referred to the current situation as a “Kill Zone,” indicating that it’s a critical juncture where many traders may become overly bullish or bearish based on short-term movements.
Fake Rally Or Real Bull Run?
The analyst said that in the near term, there could be a downward move towards $40,000. He also opened up about the ambiguity surrounding Bitcoin’s price action, posing whether it will reach $55,000 or drop to $30,000. He warned that while statistical analysis may lean towards the downside, the situation still evolves.
Despite his bullish stance, Krown advises caution and encourages investors to wait for confirmation from the market before making any significant trading decisions. At the time of writing, Bitcoin is trading close to the $44k level.
Top 3 Major Cryptocurrencies Can See Nearly 40% Surge in Next 2-3 Weeks
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Bitcoin is on the brink of a major move, with indicators pointing to a potential breakout. BlackRock's purchase of 1,000 Bitcoins hints at bullish market sentiment.
Ethereum shows a bullish trend with a confirmed bullish cross in the MACD indicator and a breakout from a symmetrical triangle pattern, aiming for a price target around $2580.
Solana, despite a typically bearish descending triangle pattern, has broken above resistance, indicating a potential rise to the $109 level.
Analyst Crypto World has provided an in-depth analysis of Bitcoin, Solanan, and Ethereum prices, throwing light on upcoming trends in the cryptocurrency market. The analyst points out that Bitcoin is on the verge of a major move, with indicators suggesting a breakout.
BlackRock’s recent purchase of approximately 1,000 Bitcoin, worth around $45 million, signals bullish sentiment. With BlackRock now holding a substantial amount of Bitcoin, the market could see reduced supply, typically bullish for prices, especially with the halving approaching.
Looking at the technical analysis, the Bollinger Bands indicator indicates an impending volatile move, likely following a period of low volatility. Previous instances show that such squeezes in the Bollinger Bands often precede major price movements. If history repeats itself, Bitcoin could see a move of 20% to 30% within the next one to two weeks. At the time of writing, Bitcoin is up by more than four percent.
Ethereum price analysis:
Turning to Ethereum, Analyst Crypto World notes a confirmed bullish cross in the daily MACD indicator, suggesting a positive momentum shift. Ethereum has also broken out of a symmetrical triangle pattern, with a bullish price target around $2580. However, resistance levels around $2390 to $2430 could pose short-term challenges. At the time of writing, Ethereum is trading in green and is trading close to the $2400 levels
Solana price analysis:
Addressing Solana, Analyst Crypto World highlights a descending triangle pattern, typically considered bearish. If Solana breaks below support at $93 to $94, a bearish price target of $83 could be in play. However, a breakout above resistance at $96 could lead to a bullish price target around $109. Solana has already breached the $96 mark and is up by more than five percent. The coin is currently trading at $101 and according to the analyst, it could reach the $109 levels.
Altcoin Season: Here’s What Traders Can Expect From ETH, SOL & LINK Price
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Ethereum's price has risen by 3%, with $2400 marked as a critical resistance level for further upward movement.
Chainlink shows positive momentum, though investors are advised to wait for a potential correction before entry.
Despite a recent network outage, Solana maintains positive price momentum, supported by its resilient community.
Cryptocurrency analyst Jacob recently spoke about Ethereum and other related tokens, including Solana and Chainlink. During a discussion, he noted that while Ethereum’s price movement might not be impacted as significantly as Solana’s recent outage, there are still developments in the Ethereum ecosystem worth considering.
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Price Analysis
Altcoin Season: Here’s What Traders Can Expect From ETH, SOL & LINK Price
Author: Qadir AK
Feb 9, 2024 8:00
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Top Small-Cap Altcoins That Recorded Massive Gains; Will Bitcoin & Ethereum Price Follow
Story Highlights
Ethereum's price has risen by 3%, with $2400 marked as a critical resistance level for further upward movement.
Chainlink shows positive momentum, though investors are advised to wait for a potential correction before entry.
Despite a recent network outage, Solana maintains positive price momentum, supported by its resilient community.
Cryptocurrency analyst Jacob recently spoke about Ethereum and other related tokens, including Solana and Chainlink. During a discussion, he noted that while Ethereum’s price movement might not be impacted as significantly as Solana’s recent outage, there are still developments in the Ethereum ecosystem worth considering.
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On The Paul Barron Network, Jacob first discussed the launch of Ethereum Name Service (ENS), likening it to a domain name service at the domain level. The partnership between ENS and GoDaddy, a prominent internet domain registrar, was seen as a positive development for Ethereum-based tokens.
Regarding Ethereum’s price action, Jacob observed a 3% increase, expressing surprise at the movement. However, he cautioned against getting too excited, stressing the significance of the $2400 level as a key resistance point. He suggested sustaining above this level could pave the way for upward movement.
Moving on to Chainlink, Jacob discussed the potential impact of tokenized assets on the Chainlink network and the recent price movements of the token. He suggested that while Chainlink has seen positive momentum, investors may want to wait for a potential correction before considering entry.
Regarding Solana, Jacob pointed out a recent network outage but noted that the token still managed to maintain positive price momentum. He also lauded the resilience of Solana’s community and suggested that the token’s bullish trend could continue if certain technical indicators hold.
He then shifted the focus to Render, a cloud-computing token. Jacob discussed its strong performance on the weekly chart and suggested it may continue its bullish trend if it holds above key support levels.
Finally, Jacob briefly touched on Nvidia, praising its continued strength amid a strong market performance. He suggested that the stock’s uptrend is likely to continue unless it shows signs of a significant reversal.
