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XRP may need to undergo a short selloff period before confirming the upside continuation setup as whales demonstrate bullishness. XRP (XRP) price may rally over 20% in the coming weeks thanks to a classic bullish continuation setup. XRP price enters bull flag breakout stage The so-called bull flag pattern develops when the price consolidates inside a parallel channel after a strong uptrend. It resolves after the price breaks above the upper trendline with convincing volumes and rises by as much as the previous uptrend's height. As of Nov. 26, XRP was trading above its bull flag's upper trendline, albeit accompanying weaker volumes. That technically indicates a weaker conviction among traders about XRP's bullish continuation.  XRP/USD daily price chart. Source: TradingView The duration of traders' indecisiveness could have XRP price test the flag's upper trendline as support. That means a decline toward $0.59, coinciding with a historical support level and the ...

Bitcoin and select altcoins are showing strength, a possible sign that the bull trend has resumed. Bitcoin (BTC) succumbed to profit-booking on Nov. 13 and 14, which pulled the price below $35,000. Corrections are a normal part of every up-move and are considered healthy as they shake out the weak hands and allow the stronger hands to add to their positions.  A note of caution to the eager dip buyers is that Glassnode data shows the number of whale wallets with more than $1,000 Bitcoin dropped to its lowest level in about a month. This indicates that some whales may have sold into the recent strength. Daily cryptocurrency market performance. Source: Coin360 DecenTrader co-founder Filbfilb said in an interview with Cointelegraph that a drawdown could come before the rally leading into Bitcoin halving in April 2024. Filbfilb believes Bitcoin could pick up pace after that and reach $46,000 to $48,000 by halving. Could Bitcoin and the select altcoins resume their uptrend, or will higher l...

Crypto analyst Jason Pizzino said in a recent YouTube video that Bitcoin (BTC) has broken above a key monthly resistance level for the first time since the 2018 bear market. Pizzino said Bitcoin closed above the monthly swing high from November 2018, marking the first time it has broken this resistance since the collapse after the 2017 bull market peak. The monthly swing tops are very, very important to this cycle. […] This essentially tells you the trend direction. Jason Pizzino Pizzino believes this breakout signals Bitcoin has likely bottomed from the latest bear market and is entering a new bullish phase. He pointed to the Wyckoff accumulation schematic, saying Bitcoin’s price action matches the typical phases coming off a low. We can now almost confidently say that for the majority of people that this was a market cycle bottom in November. Jason Pizzino The analyst expects Bitcoin to trade in a range between $32,000 and $48,000 over the next eight-to-11 m...

Bitcoin and select major altcoins are under pressure as the September Producer Price Index report shows wholesale inflation surged to 0.5%, exceeding the markets' expectation. Buyers are finding it difficult to maintain Bitcoin (BTC) price above $27,000. The selling increased after the September producer price index rose 0.5% for the month versus expectations for a 0.3% increase. This shows that the inflation pressures are unlikely to ease in a hurry for the United States economy. The uncertain near-term environment has shifted analysts’ focus to November and the upcoming halving event expected in April 2024. Crypto analyst Miles Deutscher cited a chart from CryptoCon and said that if history repeats itself, then Bitcoin may turn up by November 21 and start its journey higher to the next halving. Daily cryptocurrency market performance. Source: Coin360 Going further ahead to 2026, BitMEX founder Arthur Hayes is even more bullish. While speaking as a guest on Impact Theory with Tom...

This week, The Market Report discusses why $22,000 is the next logical step for Bitcoin and why BitMEX co-founder Arthur Hayes claims the bull market started back in March. In the latest episode of Cointelegraph’s The Market Report , analyst Marcel Pechman explores the drivers that point to Bitcoin heading to $22,000, with investor sentiment worsening after Grayscale Investment’s much-hyped legal victory against the United States Securities and Exchange Commission (SEC) on Aug. 29 and its postponement of multiple spot Bitcoin (BTC) exchange-traded fund applications. According to Pechman, on the side of the bears are multiple lawsuits from the SEC against Binance and Coinbase, including a potential indictment from the U.S. Department of Justice regarding money laundering and facilitating trades from Russian entities. But, more importantly, U.S. inflation has come down to 3.2%, and the U.S. Federal Reserve is draining liquidity from the markets. Pechman also analyzes BitMEX founder Arth...

Bitcoin (BTC) has retested the short-term holders’ realized price (STHRP) following the break below the $29,000 psychological support. Prominent on-chain analytical resource CryptoQuant recently called attention to this development. In an elaborate article, a CryptoQuant analyst highlighted the significance of the metric and its bearing on the market. Short-Term Holders Realized Price (STH RP): A Deeper Look "The drop from 29.5K to 28.3K in $BTC's price brought the price closer to the realized price of short-term holders, considered a macro support level." Quicktake Post by @0nchained Detailhttps://t.co/Xk6LYm8ski — CryptoQuant.com (@cryptoquant_com) August 17, 2023 BTC recently witnessed a notable decline, slipping from $29,500 to $28,300. This drop marked a substantial shift that brought it close to the short-term holders’ realized price . BTC price – Aug. 17 | Source: Trading View The CryptoQuant report emphasized that the STH RP indicator’s r...

Bitcoin (BTC) faces mixed sentiments amid the consolidation below $28,000. Glassnode shared intriguing insights into bitcoin’s on -chain activity, shedding light on two key metric s offering valuable market sentiment and price movement indicators. In a tweet earlier today, Glassnode called attention to the BTC number of addresses in the Loss indicator. The platform noted that the indicator has surged to a four-month high of 17,168,229. This metric is derived by calculating the average number of bitcoin addresses that currently hold a loss over seven days.  #Bitcoin $BTC Number of Addresses in Loss (7d MA) just reached a 4-month high of 17,168,229.613 Previous 4-month high of 17,161,501.905 was observed on 12 June 2023 View metric :https://t.co/s2ciFMlDcX pic.twitter.com/dq2rRlPaKC — glassnode alerts (@glassnodealerts) June 14, 2023 It indicates the number of addresses that bought BTC at a higher price than its current value. The rising trend suggests that many BTC ...

Bitcoin and most major altcoins are facing selling at higher levels, but there are no signs of panic selling at the moment. Bitcoin (BTC) and altcoins have been volatile in the past two days as the cryptocurrency markets come to terms with the actions of the United States Securities and Exchange Commission (SEC) against two of the biggest crypto exchanges, Binance and Coinbase. After the initial knee-jerk reaction to the news and the subsequent rebound, markets are likely to enter a range as traders reflect upon the uncertainty around the lawsuits. The initial response has been encouraging as the markets have not collapsed, indicating the growing maturity of the crypto space. Daily cryptocurrency market performance. Source: Coin360 Glassnode data shows a decline of 12,600 Bitcoin from exchange balances on June 5 and 6, indicating that traders kept their cool and did not panic as they had done during the FTX episode in November. What are the critical support levels to watch for on the ...

Bitcoin started March on a positive note, but historically the month has recorded mediocre gains, which could be an early warning sign for crypto investors. Bitcoin (BTC) was marginally positive in February even though the S&P 500 index (SPX) fell by 2.61%. On the first day of March, Bitcoin has started on a positive note while the United States equities markets are struggling. This shows that Bitcoin is trying to decouple from the U.S. equities markets. A positive sign is that retail traders seem to have made the most of the crypto bear market. Instead of panicking and selling their holdings, traders have purchased at lower levels. Glassnode data shows that wallets holding at least one Bitcoin have consistently risen and are nearing the 1 million mark for the first time ever. Daily cryptocurrency market performance. Source: Coin360 Historically, March has been a mediocre month for Bitcoin. Coinglass data shows that Bitcoin closed the month of March with double digit gains only tw...

BTC’s shallow correction near the $25,000 level could lead to dip buying in FIL, OKB, VET and RPL. The Dow Jones Industrial Average fell for the third consecutive week but Bitcoin (BTC) price decoupled and is on track to close the week near the strong overhead resistance at $25,211. This suggests that the wider crypto market recovery is on a strong footing. After Bitcoin’s sharp rally from the lows, analysts remain divided in their opinion about its next move. Some traders believe that the current Bitcoin rally will turn down once again, while others expect the momentum to continue, starting a new bull phase. Crypto market data daily view. Source: Coin360 Chances are that Bitcoin and several other cryptocurrencies will continue to rally until a vast majority of the bears turn bullish. After that happens, a sizable dip is likely. That could shake out several weak hands and give an opportunity to the stronger hands to add to their positions. A higher low followed by a higher high may c...