{"id":606572,"date":"2024-05-05T00:10:06","date_gmt":"2024-05-05T00:10:06","guid":{"rendered":"https:\/\/wncen.com\/?p=606572"},"modified":"2024-06-11T07:01:55","modified_gmt":"2024-06-11T07:01:55","slug":"bitcoin-relative-strength-40","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-relative-strength-40\/","title":{"rendered":"Bitcoin Relative Strength Jumps To 40%: 10x Research Reveals Next Steps From Here"},"content":{"rendered":"

Crypto research platform 10x Research<\/span><\/a> recently noted that the <\/span>Bitcoin Relative Strength<\/span><\/a> has jumped to 40%. In line with this, they provided insights into what major moves the flagship crypto might make soon enough.\u00a0<\/span><\/p>\n

What Next For Bitcoin?<\/h2>\n

In their <\/span>newsletter<\/span><\/a> titled \u201cFake Dip?\u201d 10x Research drew the crypto community\u2019s attention to the fact that Bitcoin has historically experienced potential rallies whenever its relative strength index (RSI) drops to 40%. As such, there is the possibility that BTC could again rally following its recent decline.\u00a0<\/span><\/p>\n

Related Reading: Fantom Revival: Crypto Analyst Predicts A Jump To $1.2 For FTM Price<\/a><\/div>\n

The research platform warned that a \u201cline in the sand\u201d at the $62,000 mark could keep the flagship crypto from rallying. However, <\/span>Bitcoin<\/span> has already broken above that level, which could mean there is still a bullish sentiment around the crypto token.\u00a0<\/span><\/p>\n

Meanwhile, the research hinted that BTC would need a catalyst to enjoy a sustained rally. They highlighted four bullish events that helped Bitcoin enjoy a parabolic run soon after breaking a vital support level. These events included Treasury Secretary Janet Yellen\u2019s bid for uncapped deposit insurance, <\/span>BlackRock\u2019s application<\/span><\/a> for a Spot Bitcoin ETF, <\/span>Franklin Templeton<\/span><\/a> also filing for a Spot Bitcoin ETF, and when US Core PCE dropped below 3.0%.<\/span><\/p>\n

This echoes the sentiment of Andrey Stoychev, Head of Prime Brokerage at Nexo, who <\/span>previously mentioned<\/span><\/a> that Bitcoin would need a catalyst to make a significant move to the upside. He predicts that Bitcoin will only continue to trade around the $67,000 range without this catalyst.\u00a0<\/span><\/p>\n

10x Research didn\u2019t sound optimistic about BTC enjoying a sustained rally, as their trend model indicates that the flagship crypto is in a downtrend. Despite that, they are not ruling out the possibility of BTC experiencing a bullish reversal. The research firm also revealed that they would look to buy the dip if Bitcoin drops significantly or rallies from here.\u00a0<\/span><\/p>\n

BTC Still Destined To Hit New Highs<\/h2>\n

Crypto analyst Mikybull Crypto<\/span><\/a> recently suggested that Bitcoin will still hit new highs. He <\/span>stated <\/span><\/a>that Bitcoin\u2019s current price action is meant to create \u201cmore fear across the market and then bottom for upward continuation.\u201d <\/span>Crypto analyst Ali Martinez<\/span><\/a> also recently <\/span>suggested<\/span><\/a> that the bull run was far from over, bearing in mind that Bitcoin consolidated around this period in the last two bull runs.\u00a0<\/span><\/p>\n

Related Reading: Crypto Prediction Website Reveals When The Cardano Price Will Reach $45<\/a><\/div>\n

He claimed that BTC might be over 500 days away from hitting its <\/span>market top <\/span><\/a>for this cycle. As to how BTC could rise, Martinez mentioned that it could hit a <\/span>new all-time high (ATH)<\/span><\/a> of $92,190 if it breaches the resistance level of $69,150. It is also worth noting that crypto analyst PlanB <\/span>stated <\/span><\/a>that Bitcoin hitting $100,000 this year is \u201cinevitable.\u201d<\/span><\/p>\n

At the time of writing, BTC is trading at around at around $63,500, up over 7% in the last 24 hours, according to <\/span>data<\/span><\/a> from CoinMarketCap.<\/span><\/p>\n

\"Bitcoin<\/p>\n

BTC price recovers above $63,000 | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n
Featured image from BBC, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
Crypto research platform 10x Research recently noted that the Bitcoin Relative Strength has jumped to 40%. In line with this, they provided insights into what major moves the flagship crypto might make soon enough.\u00a0 What Next For Bitcoin? In their newsletter titled \u201cFake Dip?\u201d 10x Research drew the crypto community\u2019s attention to the fact that Bitcoin has historically experienced potential rallies whenever its relative strength index (RSI) drops to 40%. As such, there is the possibility that BTC could again rally following its recent decline.\u00a0 Related Reading: Fantom Revival: Crypto Analyst Predicts A Jump To $1.2 For FTM Price The research platform warned that a \u201cline in the sand\u201d at the $62,000 mark could keep the flagship crypto from rallying. However, Bitcoin has already broken above that level, which could mean there is still a bullish sentiment around the crypto token.\u00a0 Meanwhile, the research hinted that BTC would need a catalyst to enjoy a sustained rally. They highlighted four bullish events that helped Bitcoin enjoy a parabolic run soon after breaking a vital support level. These events included Treasury Secretary Janet Yellen\u2019s bid for uncapped deposit insurance, BlackRock\u2019s application for a Spot Bitcoin ETF, Franklin Templeton also filing for a Spot Bitcoin ETF, and when US Core PCE dropped below 3.0%. This echoes the sentiment of Andrey Stoychev, Head of Prime Brokerage at Nexo, who previously mentioned that Bitcoin would need a catalyst to make a significant move to the upside. He predicts that Bitcoin will only continue to trade around the $67,000 range without this catalyst.\u00a0 10x Research didn\u2019t sound optimistic about BTC enjoying a sustained rally, as their trend model indicates that the flagship crypto is in a downtrend. Despite that, they are not ruling out the possibility of BTC experiencing a bullish reversal. The research firm also revealed that they would look to buy the dip if Bitcoin drops significantly or rallies from here.\u00a0 BTC Still Destined To Hit New Highs Crypto analyst Mikybull Crypto recently suggested that Bitcoin will still hit new highs. He stated that Bitcoin\u2019s current price action is meant to create \u201cmore fear across the market and then bottom for upward continuation.\u201d Crypto analyst Ali Martinez also recently suggested that the bull run was far from over, bearing in mind that Bitcoin consolidated around this period in the last two bull runs.\u00a0 Related Reading: Crypto Prediction Website Reveals When The Cardano Price Will Reach $45 He claimed that BTC might be over 500 days away from hitting its market top for this cycle. As to how BTC could rise, Martinez mentioned that it could hit a new all-time high (ATH) of $92,190 if it breaches the resistance level of $69,150. It is also worth noting that crypto analyst PlanB stated that Bitcoin hitting $100,000 this year is \u201cinevitable.\u201d At the time of writing, BTC is trading at around at around $63,500, up over 7% in the last 24 hours, according to data from CoinMarketCap. BTC price recovers above $63,000 | Source: BTCUSD on Tradingview.com Featured image from BBC, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":606597,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,656,679,1119,89185,1122,1144,78790],"class_list":["post-606572","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\nBitcoin Relative Strength Jumps To 40%: 10x Research Reveals Next Steps From Here<\/title>\n<meta name=\"description\" content=\"Crypto research platform 10x Research recently noted that the Bitcoin Relative Strength has jumped to 40%, despite market turmoil.\" \/>\n<meta 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Relative Strength Jumps To 40%: 10x Research Reveals Next Steps From Here","url":"http:\/\/wncen.com\/news\/bitcoin-relative-strength-40\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-relative-strength-40\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_d68655.jpeg?resize=200%2C168","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_d68655.jpeg?fit=300%2C168"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt"],"dateCreated":"2024-05-05T00:10:06Z","datePublished":"2024-05-05T00:10:06Z","dateModified":"2024-06-11T07:01:55Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Relative Strength Jumps To 40%: 10x Research Reveals Next Steps From Here\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-relative-strength-40\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-relative-strength-40\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Bitcoin_d68655.jpeg?resize=200%2C168\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/Bitcoin_d68655.jpeg?fit=300%2C168\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\"],\"dateCreated\":\"2024-05-05T00:10:06Z\",\"datePublished\":\"2024-05-05T00:10:06Z\",\"dateModified\":\"2024-06-11T07:01:55Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/05\/Bitcoin_d68655.jpeg?fit=300%2C168","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/606572"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=606572"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/606572\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/606597"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=606572"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=606572"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=606572"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}