Bitcoin is moving higher on the daily timeframe after breaching all key resistances below its all-time high. A test of the channel’s upper boundary is likely before a corrective phase sets in, targeting $135,000. Summary $119K is the critical support level maintaining bullish structure. BTC is approaching high timeframe resistance beyond all-time high at $135K.
This is a daily analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole. The bitcoin BTC$117,101.92 rally has stalled, raising the possibility of a potentially bearish technical formation: a double top. A close examination of the daily chart reveals that bulls failed to sustain a rally above the key Fibonacci level of $122,056 on
Analysts believe a bitcoin rally to $127,000 is possible if the cryptocurrency closes above the $120,000 mark with strong volume, but they warn of a potential retest of the $114,000 to $116,000 range if the rally is rejected. BTC Enters ‘Wait-for-Confirmation’ Phase Bitcoin (BTC) broke past the $122,000 mark late on Aug. 10, marking the
Bitcoin (BTC) trades in a critical range ahead of the Consumer Price Index (CPI) release on Aug. 12. A recent “Bitfinex Alpha” report positioned BTC for either a breakout to new all-time highs or a retracement toward $110,000 support levels. The Aug. 12 inflation data represents a pivotal moment as market sensitivity to macroeconomic events
Bloomberg Intelligence analyst Athanasios Psarofagis said that Bitcoin (BTC) did not provide investors with the expected protection during market declines, while gold showed a more stable performance. Speaking to Scarlet Fu, Katie Greifeld and Eric Balchunas on the “ETF IQ” program, Psarofagis stated that gold holds up better on days when the S&P 500 falls,
Bitcoin traders are seeking downside protection ahead of the U.S. inflation data, which is expected to show President Donald Trump’s trade tariffs are starting to affect consumer prices. The report, due at 12:30 UTC, is expected to show that the headline consumer price index (CPI) increased 2.8% year-on-year in July, up from a 2.7% rise
Bitcoin has seen a retrace back below the $120,000 level as data shows the Coinbase Premium Gap has dropped into the negative zone. Bitcoin Coinbase Premium Gap Has Plummeted Into The Red Region In a new post on X, CryptoQuant community analyst Maartunn has talked about the latest trend in the Bitcoin Coinbase Premium Gap.
A recent working paper from the Central Bank of Malaysia has identified XRP and bitcoin as potential alternatives to traditional monetary and payment systems. Digital Assets Could Replace Bank Deposits A recent working paper from the Central Bank of Malaysia (CBM) has identified XRP alongside bitcoin ( BTC) as potential “alternatives to the current monetary
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