Expectations: Bullish sentiment for BTC/USD, Bitcoin reacts and shows its upward power


  • BTC/USD surpasses the EMA50 level and gains room to further rise.
  • The rise, however, damages the market as a whole.

 

BTC/USD 240 Minute Chart

 

In the middle of the American session, Bitcoin manages to surpass the exponential moving average of 50 periods in four-hour graph. As a battery of artillery prepares to launch a volley, the three main actors of the Crypto board consecutively surpass the first lines of resistance.

It’s Bitcoin’s turn now: that is, for size or its role of refuge before the risk, it is always the last one in taking the initiative. It currently trades at $3,420 and recovers lost territory this morning when both the Ethereum and the XRP have climbed powerfully.

The Bitcoin rally damages the market in the short term, as the ETH/BTC pair needs to improve to see a consistent bullish development. The current Bitcoin improvement over Ethereum lowers the price of the ETH/BTC pair and decreases the chances of closing above 0.03160 BTC per ETH.

The MACD on the 4-hour chart is already in positive territory in the ETH/BTC pair, which supports the continuation of the bullish trend. Despite this positive data, we have to be very careful because it is effortless to undo this path and bring the price levels to negative territory.

 

Get 24/7 Crypto updates in our social media channels: Give us a follow at @FXSCrypto and our FXStreet Crypto Trading Telegram channel

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.

Cryptos feed

Latest Crypto News & Analysis

Editors’ Picks

Bitcoin resumes the decline after a consolidation period

Bitcoin crashed below $8,700 and tested $8,550 during early Asian hours on Thursday. The coin moved outside the recent range and extended the downside into the end of the week. BTC/USD has lost 2% since the beginning of the day and 1% in recent 24 hours. 

More Bitcoin News

Altcoin segment: bullish war drums

Sunny King, the creator of the consensus protocol Proof of Stake (PoS), has stated in a recent interview that Bitcoin has a vital role as a reference value in the crypto-verse, but that the highest growth potential is in the Altcoin segment.

More Cryptocurrencies News

ETH/USD hovers around $185.00, vulnerable to further losses

ETH/USD is trading at $185.27 at the time of writing, having recovered from the intraday low of $184.11. The second-largest digital asset with the current market value of $18.8 billion has lost 1.34% of its value since the beginning of Thursday and stayed mostly unchanged on a day-to-day basis. 

More Ethereum News

Ripple price prediction: XRP/USD smashes below critical support of $0.2700 – Confluence Detector

Ripple’s XRP extended thee sell-off to $0.2633 on Thursday. The coin is moving in sync with the market, controlled by bearish sentiments. A sustainable move below $0.2700 support bodes ill for XRP's short-term forecast, making it vulnerable to further losses.

More Ripple News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: Bulls wasted their chance

Bitcoin has been oscillating in a depressingly tight range since the beginning of November. Vanishing volatility makes it harder to engineer a decisive breakthrough from the range. 

Read the weekly forecast

BTC

ETH

XRP