• About Us
  • Privacy Policy
  • Contact Us
Subscribe
Lascena
Advertisement
  • Home
  • Bitcoin
  • Cryptocurrency
    • Altcoin
    • Litecoin
    • Ethereum
  • Blockchain
  • Regulation
  • Market
  • Prices 2021LIVE
  • Videos
No Result
View All Result
  • Home
  • Bitcoin
  • Cryptocurrency
    • Altcoin
    • Litecoin
    • Ethereum
  • Blockchain
  • Regulation
  • Market
  • Prices 2021LIVE
  • Videos
No Result
View All Result
Lascena
No Result
View All Result

These 4 Factors Show Why Bulls are in Full Control of Bitcoin

December 15, 2020
in Bitcoin
Reading Time: 2min read
These 4 Factors Show Why Bulls are in Full Control of Bitcoin



  • Bitcoin and the entire crypto market have been caught within the throes of an intense bout of consolidation over the past few days and weeks
  • This has come about despite the crypto making attempts to both breakout and breakdown as of late
  • Just last night, BTC showed some promising signs of moving higher that ultimately resulted in it facing yet another rejection within the mid-$19,000 region
  • The selling pressure here was not enough to strike a blow to its underlying strength, as it has since flashed bullish signs as it inches higher
  • One trader is pointing to 4 specific reasons for why he is not bearish on BTC at the present moment, concluding that a break above $20,000 is imminent

Bitcoin is currently inching higher after facing some weakness yesterday that caused the cryptocurrency’s price to decline from highs of $19,600 to lows of $19,050.

This spike came about following a multi-day period of consolidation that allowed BTC to paint a bullish flag on its chart, but the selling pressure within the mid-to-upper $19,000 region once again caused it to see a sharp rejection.

It has since climbed back up towards this key resistance region, and one analyst is pointing to a few key factors that seem to suggest upside is imminent.

Bitcoin Shows Signs of Strength as Price Recovers

At the time of writing, Bitcoin is trading up just under 1% at its current price of $19,400. This marks only a slight decline from its daily highs of $19,600 that were set yesterday evening.

Where the cryptocurrency trends in the mid-term should depend largely on its reaction to the selling pressure between $19,500 and $19,800.

Once this region is broken above, all eyes will be closely watching for the $20,000 breakout, which is widely expected to spark the next massive rally.

These 4 Factors Show Why Bears are Losing Control of BTC 

One trader explained in a recent tweet that 4 primary factors are pivotal to a bear thesis, and none of them are currently in play for Bitcoin.

“BTC I would be bearish here if: – This was a sweep into clean untested supply (area got tested 4+ times) – Funding was spiking positive (it’s going negative across the board) – Premium was spiking (spot going brrrrr). So yeah expecting a test of 20k fairly soon.”

Image Courtesy of George. Source: BTCUSD on TradingView.

Bitcoin’s reaction to the intense resistance just above its current price levels should shine a light on where it will trend in the mid-term.

Featured image from Unsplash.
Charts from TradingView.





Source link

Facebook0
Twitter0
Linkedin0
Print0
E-mail0
Yahoo Mail0
GMail0
SMS0
Messenger0
Tags: BitcoinBullsControlfactorsFullshow
Next Post
New Federal Reserve ‘Qualitative’ Approach Could Push Further Into Experimental Realm

New Federal Reserve 'Qualitative' Approach Could Push Further Into Experimental Realm

Secret Network Launches Bridge to Bring Transactional Privacy to Ethereum

Secret Network Launches Bridge to Bring Transactional Privacy to Ethereum

Don't Miss

Cardano Reaches All-Time High, Ahead of Ethereum in Transaction Volume
Altcoin

Cardano Reaches All-Time High, Ahead of Ethereum in Transaction Volume

by Lascena Cryptocurrency News Education
February 27, 2021
0

Today has been a monumental day for Cardano. Caught within the recent crypto bull market, its token, ADA, hit...

Read more
Why Allianz chief economist says Bitcoin surging will fuel an “interesting conversation”

Economist paints woeful outlook if Bitcoin were to ever succeed

February 27, 2021
CARDANO MASSIVE NEWS!!! SHELLEY, STAKING, DEFI & COINBASE LISITING – WOW – CRYPTO 2020

CARDANO MASSIVE NEWS!!! SHELLEY, STAKING, DEFI & COINBASE LISITING – WOW – CRYPTO 2020

February 27, 2021
URGENT!!! Secrets Of Ripple XRP and Gold | Robert Kiyosaki

URGENT!!! Secrets Of Ripple XRP and Gold | Robert Kiyosaki

February 27, 2021
BREAKING: If You Hold Ethereum You NEED to See This!! Cryptocurrency Co-Founder Major Announcement!

BREAKING: If You Hold Ethereum You NEED to See This!! Cryptocurrency Co-Founder Major Announcement!

February 27, 2021

Lascena Cryptocurrency News Education

We have all the latest updated and legitimate information related to Blockchain, Cryptocurrency, latest market rates & trends, prices, new regulations along with every other thing that somehow related to crypto or digital currency market. Our main idea is to provide the kind of news that is original and at the same time, it can prove to be beneficial for our audience.

© 2020 lascena.ca

  • About Us
  • Privacy Policy
  • Contact Us
No Result
View All Result
  • Home
  • Bitcoin
  • Cryptocurrency
    • Altcoin
    • Litecoin
    • Ethereum
  • Blockchain
  • Regulation
  • Market
  • Prices 2021
  • Videos

© 2020 lascena.ca

  • bitcoinBitcoin(BTC)$47,146.000.19%
  • ethereumEthereum(ETH)$1,476.30-2.22%
  • cardanoCardano(ADA)$1.3822.08%
  • tetherTether(USDT)$1.000.89%
  • Binance CoinBinance Coin(BNB)$226.920.52%
  • PolkadotPolkadot(DOT)$34.389.20%
  • rippleXRP(XRP)$0.4458342.19%
  • litecoinLitecoin(LTC)$174.93-0.45%
  • chainlinkChainlink(LINK)$25.940.79%
  • stellarStellar(XLM)$0.44255615.66%