Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX
No Result
View All Result
The Daily Hodl
No Result
View All Result

Here’s What’s Next for Bitcoin After BTC’s Rally Past $40,000, According to Crypto Strategist

by Daily Hodl Staff
March 2, 2022
in Bitcoin, Trading

A closely followed crypto analyst is mapping out what’s ahead for Bitcoin (BTC) after the leading cryptocurrency skyrocketed past the $40,000 price level.

In a new strategy session, pseudonymous analyst Cred says Bitcoin looks constructive after it closed February on a high note at $43,953.

Cred says Bitcoin’s strong monthly close shows that BTC is still trading in a wide range between support at $33,000 and resistance at $47,000.

“At the moment, at least what we’ll derive from this monthly close, is that support supported, resistance resisted and the market still seems to be higher timeframe range-bound until proven otherwise.”

Although Cred believes that BTC is still in a sideways market, he says that Bitcoin will gather bullish momentum and ignite a 30% surge if it takes out resistance at $47,000.

“One thing I’ll note is that I will add this range high [$58,000], highest closed [monthly] level. The thing to infer from that is that if the midrange of $43,000 and $47,000 is broken, I don’t think there’s much in the way for a high timeframe move towards $58,000.” 

Taking a closer look at Bitcoin’s probability to take out its immediate resistance around $47,000, Cred says that buyers are coming in at a higher price after the dominant crypto established a bullish higher low setup at $35,000 on February 24th.

“If we manage to get this market structure to reclaim [move above $47,000] and break up resistance, and that wouldn’t be terribly unforeseeable given the market’s rejected once, moved lower, rejected a second time, potentially made a higher low here – so maybe some evidence of relative strength starting to emerge, which is nice.” 

Source: Cred/YouTube

In technical analysis, touching a resistance area multiple times is a bullish signal as it indicates seller exhaustion.

I

Check Price Action

Don't Miss a Beat – Subscribe to get crypto email alerts delivered directly to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

 
Check Latest News Headlines


 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/klyaksun

Submit a Press Release

Industry Announcements

  • First Global Web 3.0 Eco Innovation Summit Comes to Singapore
    May 20, 2022
  • Wombat Soars to $40 Million in Total Value Locked While Still at Beta
    May 20, 2022
  • Babel Finance Used Collateralized eNote on FQX’s Solana DApp via Fireblocks
    May 19, 2022
  • Top Solana Play-to-Earn Contender DeFi Land Launches Its First Play-and-Earn Game
    May 18, 2022
  • Sneakmart Announces a Collaboration With StockX on Its First Metakicks Drop
    May 18, 2022
  • Everyrealm and Storyverse Partner To Create Interactive Stories for NFT Communities
    May 18, 2022
  • DoraHacks Raises $20 Million Led by FTX Ventures and Liberty City Ventures To Scale Its Global Web 3.0 Startup Platform
    May 18, 2022
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$28,879.00
$28,879.00
4.01%
Ethereum
$1,934.99
$1,934.99
3.48%
Cardano
$0.504846
$0.504846
5.42%
XRP
$0.404329
$0.404329
3.47%
Dogecoin
$0.083058
$0.083058
4.04%

Spotlight

  • Coinbase CEO Brian Armstrong Predicts Crypto Economy Will Explode to 15% of Global GDP – Here’s His Timeline
    May 13, 2022
  • Central Banks From 32 Different Countries To Meet in El Salvador To Discuss Bitcoin Rollout, Says Nayib Bukele
    May 16, 2022
  • Ethereum Showing Bullish Divergence On-Chain As Idle Bitcoin Addresses Start To Wake Up, Says Santiment
    May 19, 2022
  • Rich Dad Poor Dad Author Delivers Alarming Economic Warning, Unveils All-In Price Target for Bitcoin
    May 14, 2022

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX •
Futuremash •
Industry Announcements

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2022 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • ChainWire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Binance Coin (BNB)
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • Email Alerts
  • DAILY HODL MIX

© 2022 The Daily Hodl