Bitcoin News
Latest Crypto from multi News Outlets
  • bitcoinBitcoin (BTC) $ 23,025.00 0.4%
  • ethereumEthereum (ETH) $ 1,575.41 0.06%
  • tetherTether (USDT) $ 1.00 0.06%
  • usd-coinUSD Coin (USDC) $ 1.00 0.01%
  • bnbBNB (BNB) $ 307.32 1.33%
  • xrpXRP (XRP) $ 0.402030 0.65%
  • binance-usdBinance USD (BUSD) $ 1.00 0.02%
  • cardanoCardano (ADA) $ 0.381881 1.84%
  • dogecoinDogecoin (DOGE) $ 0.092188 0.75%
  • matic-networkPolygon (MATIC) $ 1.09 0.38%
  • okbOKB (OKB) $ 37.06 1.62%
  • solanaSolana (SOL) $ 23.53 1.49%
  • staked-etherLido Staked Ether (STETH) $ 1,568.68 0.03%
  • polkadotPolkadot (DOT) $ 6.17 1.01%
  • litecoinLitecoin (LTC) $ 96.13 1.8%
  • shiba-inuShiba Inu (SHIB) $ 0.000012 1.94%
  • avalanche-2Avalanche (AVAX) $ 19.09 3.18%
  • tronTRON (TRX) $ 0.062067 0.68%
  • daiDai (DAI) $ 0.999901 0.02%
  • uniswapUniswap (UNI) $ 6.48 0.24%
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 23,002.00 0.7%
  • cosmosCosmos Hub (ATOM) $ 13.61 2.95%
  • the-open-networkToncoin (TON) $ 2.28 0.56%
  • chainlinkChainlink (LINK) $ 6.83 2.26%
  • leo-tokenLEO Token (LEO) $ 3.50 1.64%
  • moneroMonero (XMR) $ 173.78 0.57%
  • ethereum-classicEthereum Classic (ETC) $ 21.35 0.58%
  • aptosAptos (APT) $ 16.42 0.77%
  • bitcoin-cashBitcoin Cash (BCH) $ 131.27 1.87%
  • stellarStellar (XLM) $ 0.089424 1.31%
  • apecoinApeCoin (APE) $ 5.81 0.26%
  • quant-networkQuant (QNT) $ 136.93 4.12%
  • crypto-com-chainCronos (CRO) $ 0.077957 0.09%
  • filecoinFilecoin (FIL) $ 5.10 0.24%
  • nearNEAR Protocol (NEAR) $ 2.24 3.44%
  • lido-daoLido DAO (LDO) $ 2.15 2.63%
  • algorandAlgorand (ALGO) $ 0.235467 1.28%
  • internet-computerInternet Computer (ICP) $ 5.81 1.05%
  • vechainVeChain (VET) $ 0.022519 2.99%
  • hedera-hashgraphHedera (HBAR) $ 0.063140 2.31%
  • fantomFantom (FTM) $ 0.525445 7.71%
  • decentralandDecentraland (MANA) $ 0.730299 1.09%
  • axie-infinityAxie Infinity (AXS) $ 10.57 0.95%
  • aaveAave (AAVE) $ 81.05 0.25%
  • eosEOS (EOS) $ 1.04 1.12%
  • the-sandboxThe Sandbox (SAND) $ 0.708266 2.09%
  • flowFlow (FLOW) $ 1.04 3.06%
  • elrond-erd-2MultiversX (EGLD) $ 42.07 1.42%
  • fraxFrax (FRAX) $ 1.00 0%
  • terra-lunaTerra Luna Classic (LUNC) $ 0.000168 0.63%

Bitcoin price will provide patient investors an opportunity to accumulate before $20,000


  • Bitcoin price shows a tight consolidation below the midpoint of an ascending parallel channel.
  • A sweep of the range high at $17,433 will be a signal before sliding down to the $16,502 accumulation level.
  • A four-hour candlestick close below $16,502 and a failure to recover above this level will invalidate the bullish thesis for BTC.

Bitcoin price is consolidating inside a tight range since November 21. Over the last three days, this range has tightened, signaling that a volatile move is likely.

Bitcoin price hints at an opportunity

Bitcoin price has produced three higher lows and higher highs since November 21. Connecting these swing points using trend lines reveal an ascending parallel channel. Investors can see that the last 24 hours has produced a tight consolidation below the midpoint of this setup.

A spike in buying pressure that pushes Bitcoin price to sweep the range high at $17,433 will be crucial. If this move fails to stay above the said level and slides below it, it will signal a bearish in play. In such a case, Bitcoin price will likely aim to retest the $16,502 level, indicating a 5.36% drop from the range high.

From a high timeframe perspective, this area is a good level to accumulate, especially if Bitcoin price is in a bear market rally. If true, BTC will revisit the $19,235 hurdle and the $20,000 psychological level.

BTC/USDT 1-day chart

BTC/USDT 1-day chart

On the other hand, if Bitcoin price fails to build up momentum for the uptrend but instead kick-starts a downtrend, then investors can still look at accumulate at $16,502. However, if BTC breaks down this level on a four-hour timeframe by producing a decisive close below it, things will start to skew in the bears’ favor. 

This move will invalidate the bullish thesis and potentially target the equal lows at $15,462.

 



Read More: Bitcoin price will provide patient investors an opportunity to accumulate before $20,000

Disclaimer:The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website’s content as such. NewsOfBitcoin.com does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.

Leave A Reply

Your email address will not be published.