- Bitcoin’s price increased by over 10% in the last seven days.
- Most metrics were bullish, but a few suggested otherwise.
Bitcoin [BTC] recently managed to break above the $60k barrier, sparking excitement among investors. However, this uptrend might just be the beginning, as a bullish pattern has appeared on the crypto’s price chart.
Bitcoin: A bullish breakout
AMBCrypto’s look at CoinMarketCap’s data revealed that BTC’s price increased by double digits last week. To be precise, its value surged by more than 10%.
At the time of writing, BTC was trading at $63,370.18 with a market capitalization of over $1.25 trillion.
In the meantime, World of Charts, a popular crypto analyst, recently posted a tweet revealing an interesting development.
As per the tweet, a bullish descending channel emerged on Bitcoin’s chart. The king of crypto’s price has been consolidating inside the pattern since May, only to break out a few days ago.
So far, since the breakout, BTC has been up by more than 5%. But if the trend continues, then the coin’s price might witness a 20% pump in the coming days or weeks.
Source: X
AMBCrypto’s look at Glassnode’s data pointed out yet another positive signal. BTC’s price has been laying under its possible market bottom of $64k for several weeks, as per the Pi Cycle Top indicator.
At press time, it was fast approaching that mark. If the trend lasts, then Bitcoin over the coming months might as well touch its possible market top of $95k.
Source: Glassnode
Will BTC’s bull rally continue?
AMBCrypto then took a look at CryptoQuant’s data to find out what metrics suggested regarding a continued price increase.
We found that BTC’s net deposit on exchanges was low compared to the last seven days’ average, indicating that buying pressure was rising.
Its Coinbase Premium was also green, meaning that buying sentiment was strong among U.S. investors.
Apart from that, Bitcoin’s Funding Rate was also high. This suggested that long-position traders were dominant and were willing to pay short-position traders.
Source: CryptoQuant
However, not everything was bullish. At press time, BTC’s fear and greed index had a value of 71%, meaning that the market was in a “greed” phase.
Whenever the metric reaches this level, it indicates that there are chances of a price correction.
Read Bitcoin (BTC) Price Prediction 2024-25
Therefore, AMBCrypto checked BTC’s daily chart to better understand what to expect.
We found that the Relative Strength Index (RSI), after a sharp increase, registered a downtick, which meant that bears might take over soon. Nonetheless, the MACD displayed a bullish advantage in the market.
Source: TradingView
- Bitcoin’s price increased by over 10% in the last seven days.
- Most metrics were bullish, but a few suggested otherwise.
Bitcoin [BTC] recently managed to break above the $60k barrier, sparking excitement among investors. However, this uptrend might just be the beginning, as a bullish pattern has appeared on the crypto’s price chart.
Bitcoin: A bullish breakout
AMBCrypto’s look at CoinMarketCap’s data revealed that BTC’s price increased by double digits last week. To be precise, its value surged by more than 10%.
At the time of writing, BTC was trading at $63,370.18 with a market capitalization of over $1.25 trillion.
In the meantime, World of Charts, a popular crypto analyst, recently posted a tweet revealing an interesting development.
As per the tweet, a bullish descending channel emerged on Bitcoin’s chart. The king of crypto’s price has been consolidating inside the pattern since May, only to break out a few days ago.
So far, since the breakout, BTC has been up by more than 5%. But if the trend continues, then the coin’s price might witness a 20% pump in the coming days or weeks.
Source: X
AMBCrypto’s look at Glassnode’s data pointed out yet another positive signal. BTC’s price has been laying under its possible market bottom of $64k for several weeks, as per the Pi Cycle Top indicator.
At press time, it was fast approaching that mark. If the trend lasts, then Bitcoin over the coming months might as well touch its possible market top of $95k.
Source: Glassnode
Will BTC’s bull rally continue?
AMBCrypto then took a look at CryptoQuant’s data to find out what metrics suggested regarding a continued price increase.
We found that BTC’s net deposit on exchanges was low compared to the last seven days’ average, indicating that buying pressure was rising.
Its Coinbase Premium was also green, meaning that buying sentiment was strong among U.S. investors.
Apart from that, Bitcoin’s Funding Rate was also high. This suggested that long-position traders were dominant and were willing to pay short-position traders.
Source: CryptoQuant
However, not everything was bullish. At press time, BTC’s fear and greed index had a value of 71%, meaning that the market was in a “greed” phase.
Whenever the metric reaches this level, it indicates that there are chances of a price correction.
Read Bitcoin (BTC) Price Prediction 2024-25
Therefore, AMBCrypto checked BTC’s daily chart to better understand what to expect.
We found that the Relative Strength Index (RSI), after a sharp increase, registered a downtick, which meant that bears might take over soon. Nonetheless, the MACD displayed a bullish advantage in the market.
Source: TradingView
buy cheap clomiphene without dr prescription can i purchase cheap clomid prices how to get cheap clomid no prescription how to get clomiphene tablets can i purchase clomid for sale where to get cheap clomiphene tablets clomid pill
This is a topic which is virtually to my verve… Numberless thanks! Quite where can I lay one’s hands on the acquaintance details for questions?
This is a topic which is forthcoming to my fundamentals… Diverse thanks! Exactly where can I notice the connection details in the course of questions?
cost zithromax – order sumycin generic buy metronidazole 200mg pills
rybelsus usa – how to buy periactin cyproheptadine buy online
motilium buy online – order generic flexeril 15mg brand cyclobenzaprine
augmentin order online – https://atbioinfo.com/ buy ampicillin no prescription
how to get esomeprazole without a prescription – https://anexamate.com/ order esomeprazole generic
generic warfarin 2mg – https://coumamide.com/ buy losartan 25mg online cheap
buy mobic 15mg online – relieve pain meloxicam 15mg oral
deltasone without prescription – aprep lson deltasone 20mg brand
best ed pill for diabetics – new ed drugs non prescription ed drugs
amoxicillin for sale – https://combamoxi.com/ amoxicillin pills
how to get forcan without a prescription – click where to buy diflucan without a prescription
buy generic lexapro online – https://escitapro.com/ buy lexapro paypal
walgreens cialis prices – 20 mg tadalafil best price cialis tubs
cialis tadalafil 20mg price – strongtadafl cialis onset
buy ranitidine 300mg sale – https://aranitidine.com/# order ranitidine 300mg generic
viagra sale essex – site viagra sale england
This is the kind of serenity I have reading. this
Thanks on putting this up. It’s evidently done. prednisone com
This website exceedingly has all of the bumf and facts I needed adjacent to this thesis and didn’t comprehend who to ask. https://ursxdol.com/provigil-gn-pill-cnt/
I’ll certainly bring back to skim more. https://prohnrg.com/
This website really has all of the bumf and facts I needed to this participant and didn’t comprehend who to ask. https://aranitidine.com/fr/acheter-cialis-5mg/