Bitcoin Price Analysis: Where Is the Local Top for This Parabolic Run?

Bitcoin Price Analysis: Where Is the Local Top for This Parabolic Run? | Bitcoin Magazine

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Bitcoin Price Analysis: Where Is the Local Top for This Parabolic Run?

by Bitcoin Schmitcoin
Bitcoin Price Analysis: Where Is the Local Top for This Parabolic Run? 1
Bitcoin Price Analysis: Where Is the Local Top for This Parabolic Run?

[youtube https://www.youtube.com/watch?v=CgpMfAcwmxI?feature=oembed&w=480&h=270]

Summary:

  1. The bitcoin market has gone parabolic as we blasted off through two major weekly levels. The resistance got crushed due to a high amount of short positions that were force liquidated in an event known as a “short squeeze.”
  2. We are currently testing the $8,000 level but a major weekly resistance level looms directly overhead in the $8,150 area. The price structure is looking fairly climactic and we might see a strong round of selling hit the market that could potentially pull us down to retest the mid-$6,000s.
  3. If we manage to crack the overhanging resistance and find support, we can expect to see further price growth as we once again decimate a macro resistance level.

Trading and investing in digital assets like bitcoin is highly speculative and comes with many risks. This analysis is for informational purposes and should not be considered investment advice. Statements and financial information onBitcoin Magazine and BTC Inc sites do not necessarily reflect the opinion of BTC Inc and should not be construed as an endorsement or recommendation to buy, sell or hold. Past performance is not necessarily indicative of future results.

2019 BTC Inc.
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bitcoin
Bitcoin (BTC) $ 60,260.00
ethereum
Ethereum (ETH) $ 4,032.05
binance-coin
Binance Coin (BNB) $ 475.29
tether
Tether (USDT) $ 0.998595
cardano
Cardano (ADA) $ 2.12
solana
Solana (SOL) $ 189.47
xrp
XRP (XRP) $ 1.08
polkadot
Polkadot (DOT) $ 42.54
dogecoin
Dogecoin (DOGE) $ 0.264116
usd-coin
USD Coin (USDC) $ 0.998619
USD
EUR
GBP
bitcoinBitcoin (BTC)
$ 60,260.00
ethereumEthereum (ETH)
$ 4,032.05
tetherTether (USDT)
$ 0.998595
bitcoin-cashBitcoin Cash (BCH)
$ 622.18
litecoinLitecoin (LTC)
$ 192.74
bitcoinBitcoin (BTC)
51.749,78
ethereumEthereum (ETH)
3.462,62
tetherTether (USDT)
0,857568
bitcoin-cashBitcoin Cash (BCH)
534,31
litecoinLitecoin (LTC)
165,52
bitcoinBitcoin (BTC)
43,729.18
ethereumEthereum (ETH)
2,925.96
tetherTether (USDT)
0.724655
bitcoin-cashBitcoin Cash (BCH)
451.50
litecoinLitecoin (LTC)
139.87

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CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin60,443 0.79 % 2.47 % 1.18 %
Ethereum4,048.7 0.96 % 0.31 % 5.04 %
Binance Coin475.99 0.80 % 1.60 % 1.75 %
Tether0.9986 0.03 % 0.08 % 0.23 %
Cardano2.130 0.79 % 2.03 % 2.78 %
Solana189.32 1.89 % 6.50 % 19.62 %
XRP1.080 0.29 % 1.03 % 4.72 %
Polkadot30.87 2.19 % 17.29 % 10.73 %
Dogecoin0.2573 1.07 % 3.88 % 7.86 %
USD Coin1.000 0.14 % 0.20 % 0.17 %

bitcoin
Bitcoin (BTC) $ 60,260.00
ethereum
Ethereum (ETH) $ 4,032.05
binance-coin
Binance Coin (BNB) $ 475.29
tether
Tether (USDT) $ 0.998595
cardano
Cardano (ADA) $ 2.12
solana
Solana (SOL) $ 189.47
xrp
XRP (XRP) $ 1.08
polkadot
Polkadot (DOT) $ 42.54
dogecoin
Dogecoin (DOGE) $ 0.264116
usd-coin
USD Coin (USDC) $ 0.998619