• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Nexo

Bitcoin May Post Its 2nd Highest Two-Month Close in History as Bulls Take Control

Cole Petersen by Cole Petersen
2 years ago
in Bitcoin
0
  • Bitcoin has been able to avoid seeing any type of intense bearishness today, as the cryptocurrency is now trading near $11,800
  • Although it has yet to test its key $12,000 resistance, it does appear that buyers are laying the groundwork for a visit to this level
  • One trader is observing that some technical factors are now working heavily in Bitcoin’s favor, including degrading resistance between its current price and $13,000
  • This comes as Bitcoin rapidly approaches its two-month candle close, which will be the second-highest one the crypto has ever seen – so long as bulls remain strong

Bitcoin and the entire crypto market are seeing some intense strength today, which has allowed the benchmark cryptocurrency to push towards $12,000 while altcoins like Ethereum begin garnering significant momentum.

The strength seen by Ethereum over the past couple of days has been so intense that some analysts are noting that it may be creating a tailwind that is helping to drive BTC higher.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Other analysts are also observing that BTC is seeing degrading resistance between its current price and $13,000 – which means that it may only be a matter of time before the crypto explodes higher.

This comes as the crypto’s two-month candle close nears, which will be the second-highest one in BTC’s history if bulls can hold it above its current price levels for the rest of the day.

Bitcoin to Post Second-Highest Monthly Candle Close Ever

At the time of writing, Bitcoin is trading up marginally at its current price of $11,710. This is around the price at which it has been trading throughout the past several days and weeks.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

The strong recovery it was able to post late-last week when it dipped to lows of $11,100 is a bullish sign for the digital asset.

One analyst recently pointed to the cryptocurrency’s two-month candles, noting that tonight’s close will be the second-highest one ever seen.

“BTC could print its second highest two monthly close in history tonight.”

Bitcoin

Image Courtesy of Bitcoin Jack. Chart via TradingView.

Chance of BTC Seeing Further Upside Grows Alongside Technical Strength 

One analyst is now noting that the likelihood of Bitcoin seeing further upside is growing, as its resistance is beginning to degrade while looking at its high time frame chart.

“High time frames on Bitcoin looks good. The weekly candle shows that buyers were interested in sub $11,550. And there isn’t much holding Bitcoin between the current price and $13ks on high time frames. I personally think it’s time BTC makes way for $12k+ again,” he explained.

Image Courtesy of Josh Rager. Chart via TradingView.

If Bitcoin closes its two-month candle around its current price levels, it would be a sign of macro strength.

Featured image from Unsplash.
Charts from TradingView.
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

Bitpanda

Bitpanda Sacks A Third Of Staff As Crypto Trading Platform Scales Down

11 hours ago
Oslo Freedom Forum, Roya Mahboob screenshot

3 Lessons From The Oslo Freedom Forum: Carter, Mahboob, and Volkov on Bitcoin

1 day ago
bitcoin

Canadian Purpose Bitcoin ETF Suffers Massive Outflows, But Others Are Picking Up The Slack

2 days ago
Bitcoin

Bitcoin Trading Volume Nears One-Year Highs As Volatile Market Continues

2 days ago
google search term

Bitcoin Selloff Sends Google Trends Search Term To New 2022 Record

2 days ago
Bitcoin

Bitcoin Blockchain Begins To Awaken From Death Spiral

3 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.