• bitcoin
    Bitcoin(BTC)
    $0.00 4.63%24H
  • ethereum
    Ethereum(ETH)
    $0.00 7.65%24H
  • binance-coin
    Binance Coin(BNB)
    $0.00 8.29%24H
  • usd-coin
    USD Coin(USDC)
    $0.00 -0.04%24H
  • cardano
    Cardano(ADA)
    $0.00 5.58%24H
  • chainlink
    Chainlink(LINK)
    $0.00 7.66%24H
  • bitcoin-cash
    Bitcoin Cash(BCH)
    $0.00 5.04%24H
  • stellar
    Stellar(XLM)
    $0.00 4.19%24H
  • vechain
    VeChain(VET)
    $0.00 7.84%24H
  • tezos
    Tezos(XTZ)
    $0.00 5.65%24H
  • eosdac
    eosDAC(EOSDAC)
    $0.00 3.34%24H
Crypto Currency Bazaar 4u: Today’s Latest Worldwide News on Cryptocurrency Market delivered to the last minute, Live Crypto Price Data and Indexes, Crypto Investment & Finance opportunities & Blockchain projects, Global Crypto Classifieds
  • INVESTMENTS
    • Crypto General
    • Masternodes
    • Mining Projects
    • NFTS Investments
    • Invest In ICO
    • Exchanges
    • Staking Yeild Farming
  • WORLD
  • USA
  • CANADA
  • JAPAN
  • UK
  • UAE
  • INDIA
  • MORE
    • BRAZIL
    • AUSTRALIA
    • EL SALVADOR
    • CENTRAL AMERCIA
    • SOUTH AMERICA
    • AFRICA
    • EUROPE
    • ASIA
    • OCEANIA
    • ICO
  • Login
  • BLOCKCHAIN
  • BITCOIN
  • ETHEREUM
  • NFTS
  • ALTCOIN
  • MINING
  • VIDEOS
  • LIVERATES
  • SHOP
  • CLASSIFIEDS
  • ADVERTISE
  • SUBMIT PRESS RELEASE
HealthNews
No Result
View All Result
Home INDIA

Bitcoin (BTC) Price On The Verge Of Bullish Breakout, Buyers Seek $47,000

CB4U by CB4U
January 16, 2022
in INDIA
0
Rio De Janeiro Plans To Buy Bitcoin With City’s 1% Reserve; Tax Discounts Also To Be Offered
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

The week ended on Friday, BTC buyers find some respite after the digital coin locked-in gains around 9%. BTC moved in sync with the US tech stocks, which witnesses some late bounce back on Friday. However, overall investors lost money since the downside rally begins in November.

  • BTC ended the second week of January with more than 9% gains.
  • The Momentum oscillators favor bullish bias.
  • BTC exhibits a strong correlation with high-risk technology stocks.

According to Matthew Sigel, head of digital assets research at VanEck, Bitcoin is moving in tandem with NASDAQ and other technology stocks. The selling pressure builds up in both as the US Federal Reserve turns more hawkish in its policy.

Source: Tradingview

A technical bounce back towards $45,000 is visible on charts On the four-hour chart, after witnessing a free fall from the highs of $52,129 on December 28 BTC shows resilience near $40K. The price consolidates in the range before breakout on Wednesday above $42K.

BTC is trading near the crucial 20 and 50 SMA with the formation of a “Doji candlestick”, which indicates traders need some confirmation before continuing the upside momentum.

A Bullish reversal pattern “Cup Handle” is formed, which makes the bulls cheerful. A decisive close above the $43,500 will fuel the upside rally, which could find the ultimate target near $47K. The MACD(Moving Average Convergence Divergence) trades above the midline supporting the bullish argument for the pair. Furthermore, the Daily Relative Strength Index (RSI) reads at 52. On Friday the market cap of the world’s largest cryptocurrency rose to $815,187,367,919.

On the flip side, If the pair breaks below $41k then it could invalidate the upside theses. Moving further, the price could re-enter in the consolidation zone of $40K-$42K. A break below $40K would drag the prices towards the lows last seen in August around $37K.

 

Disclaimer

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

About Author

Advertisement Banner
Previous Post

The NEXT 2022 Crypto Crash Coming Soon?

Next Post

Rio De Janeiro to Invest 1% of Its Treasury in Cryptocurrency – Bitcoin News

CB4U

CB4U

Next Post
Rio De Janeiro to Invest 1% of Its Treasury in Cryptocurrency – Bitcoin News

Rio De Janeiro to Invest 1% of Its Treasury in Cryptocurrency – Bitcoin News

Discussion about this post

RECOMMENDED

The COLLAPSE Of Crypto & FTX! – DO THIS NOW Before It's TOO LATE… | Raoul Pal

The COLLAPSE Of Crypto & FTX! – DO THIS NOW Before It's TOO LATE… | Raoul Pal

6 months ago
FTX Former CEO To Testify Before U.S. House Committee

FTX Former CEO To Testify Before U.S. House Committee

6 months ago

DON'T MISS

Top 5 Crypto Wallets to Switch to After Ledger Debacle

Top 5 Crypto Wallets to Switch to After Ledger Debacle

May 31, 2023
Indian Banks Urged To Embrace AI And Blockchain For Future Readiness

Indian Banks Urged To Embrace AI And Blockchain For Future Readiness

May 31, 2023
NFT artist allegedly battling cancer revealed to be scam

NFT artist allegedly battling cancer revealed to be scam

May 31, 2023
Bitcoin Miladys Unveils One-way Ethereum-Bitcoin “Bridge”

Bitcoin Miladys Unveils One-way Ethereum-Bitcoin “Bridge”

May 31, 2023
Crypto Currency Bazaar 4u: Today’s Latest Worldwide News on Cryptocurrency Market delivered to the last minute, Live Crypto Price Data and Indexes, Crypto Investment & Finance opportunities & Blockchain projects, Global Crypto Classifieds

The Cryptocurrency Bazaar 4U was founded in 2020 for providing the most trusted information for the Crypto enthusiasts covering a broad range of news about blockchain technology, cryptocurrency assets, emerging fintech trends in the decentralized space, and other related wide array of information surrounding this emerging technology.Our team provides the most up-to-date and accurate news from different sources in this space comprising of unbiased news, in-depth analytics, detailed cryptocurrency price charts, and insightful opinion pieces is the basis of our editorial content.

POPULAR POSTS

Top 5 Crypto Wallets to Switch to After Ledger Debacle

Top 5 Crypto Wallets to Switch to After Ledger Debacle

May 31, 2023
Indian Banks Urged To Embrace AI And Blockchain For Future Readiness

Indian Banks Urged To Embrace AI And Blockchain For Future Readiness

May 31, 2023
NFT artist allegedly battling cancer revealed to be scam

NFT artist allegedly battling cancer revealed to be scam

May 31, 2023

Categories

  • AFRICA
  • ALTCOIN
  • ASIA
  • AUSTRALIA
  • BITCOIN
  • BLOCKCHAIN
  • BRAZIL
  • CANADA
  • CENTRAL AMERCIA
  • CRYPTO GENERAL
  • EL SALVADOR
  • ETHEREUM
  • EUROPE
  • EXCHANGES
  • ICO
  • INDIA
  • INVERST IN ICO
  • INVESTMENTS
  • JAPAN
  • MASTERNODES
  • MINING
  • MINING PROJECTS
  • NFTS
  • NFTS INVESTMENTS
  • OCEANIA
  • SINGAPORE
  • SOUTH AMERICA
  • STAKING & YEILD FARMING
  • UAE
  • UK
  • Uncategorized
  • USA
  • VIDEOS
  • WORLD
  • CONTACT US
  • DISCLAIMER
  • PRIVACY POLICY
  • ABOUT US
  • CLASSIFIED
  • ADVERTISE
  • SUBMIT PRESS RELEASE

© cryptocurrencybazaar4u.io

No Result
View All Result
  • BLOCKCHAIN
  • BITCOIN
  • ETHEREUM
  • NFTS
  • ALTCOIN
  • MINING
  • VIDEOS
  • LIVERATES
  • SHOP
  • CLASSIFIEDS
  • ADVERTISE
  • SUBMIT PRESS RELEASE

© cryptocurrencybazaar4u.io

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
  • bitcoin
    Bitcoin(BTC)
    $0.00 4.63%24H
  • ethereum
    Ethereum(ETH)
    $0.00 7.65%24H
  • binance-coin
    Binance Coin(BNB)
    $0.00 8.29%24H
  • usd-coin
    USD Coin(USDC)
    $0.00 -0.04%24H
  • cardano
    Cardano(ADA)
    $0.00 5.58%24H
  • chainlink
    Chainlink(LINK)
    $0.00 7.66%24H
  • bitcoin-cash
    Bitcoin Cash(BCH)
    $0.00 5.04%24H
  • stellar
    Stellar(XLM)
    $0.00 4.19%24H
  • vechain
    VeChain(VET)
    $0.00 7.84%24H
  • tezos
    Tezos(XTZ)
    $0.00 5.65%24H
  • eosdac
    eosDAC(EOSDAC)
    $0.00 3.34%24H