Bullish Divergence on the 4-hourly is playing out. Key resistance in the very short-term will be this red area [above $40,300]. Turning it into support like in the previous yellow circle would be a bullish sign for trend continuation.<\/span><\/p><\/blockquote>\nBitcoin has been below its 100-day moving average for a few weeks. The price has been supported by $37,000 and the falling trendline. This has lessened the bearish momentum. The $37,000 mark has become an important support for Bitcoin. If it falls below that, the price might go down to $30,000.<\/p>\n
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Featured image from Pixabay and chart from Tradingview.com<\/pre>\n <\/p>\n","protected":false},"excerpt":{"rendered":"
Crypto is mirroring stock markets’ gains again today, with Wall Street\u2019s sharp climb after opening higher likely to provide further impetus for Bitcoin. Last Friday, the crypto market saw a significant decline correlating US Indexes.\u00a0 Bitcoin and Ethereum, the major players in the crypto market, gained 2% in the past 24 hours. Both crypto combined capitalization reached nearly $1.2 trillion today, with total crypto market capital at $1.9 trillion.\u00a0 Related Reading | Ethereum Trades Below $3,000 Support, Why Is ETH Falling Since November? The crypto markets see a broad recovery as equities continue their upward trajectory. The BTC\/USD pair is trading above $40,000 while ETH\/USD has gained ground close to the $3,000 resistance level. Both coins are gaining amid this positive trend for all assets. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite have all gone up today. The S&P 500 is up 2.3%, the Dow Jones Industrial Average is higher by 1.7%, and the Nasdaq Composite leads the upside with 2.8%. This happened as Asian and European stocks had good days before the US Federal Reserve\u2019s 0.5% interest rate hike. Bitcoin And Ethereum Still Look Bullish The bitcoin price is holding well above $38,000, but it’s close to touching another key supply wall at $40,000. However, this could signify that the bulls still have some strength and may push higher soon. As per Altcoin Sherpa, a crypto trader and analyst, \u201cthe market structure looks bullish.\u201d He further added; As long as these lows are maintained and we still see higher lows, I think the bullish market structure is still intact. Still thinking 55k+ in the coming weeks. While commenting on Ethereum prediction, Altcoin Sherpa said; Unlike $BTC, ETH is still decently above its last lows and still has a bullish market structure (btc does too but its closer). Would like to see a higher low formed for #Ethereum. I think that it\u2019s still at the mercy of BTC though, as always \u2013 if BTC tanks, so will ETH.\u00a0 Related Reading | TA: Bitcoin Key Indicators Suggest Strengthening Case For Decent Increase \u201cBitcoin could go higher,\u201d said Rekt Capital, one of the top crypto analysts. The analyst said; Bullish Divergence on the 4-hourly is playing out. Key resistance in the very short-term will be this red area [above $40,300]. Turning it into support like in the previous yellow circle would be a bullish sign for trend continuation. Bitcoin has been below its 100-day moving average for a few weeks. The price has been supported by $37,000 and the falling trendline. This has lessened the bearish momentum. The $37,000 mark has become an important support for Bitcoin. If it falls below that, the price might go down to $30,000. Featured image from Pixabay and chart from Tradingview.com <\/p>\n","protected":false},"author":563,"featured_media":489300,"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":[428,1558,1946,85542,4416],"class_list":["post-489298","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-cryptocurrency","tag-ethereum","tag-us-stock-market","tag-wall-street"],"acf":[],"yoast_head":"\n
Bitcoin Struggles To Hold $40K While Crypto Track US Stocks<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n