1. Home
  2. Mister Crypto

Mister Crypto

Bitcoin chart signals possible move to $68K ‘extremely quickly’ — Traders

Bitcoin traders are eyeing $68,000 if it can stay above $64,000, a level it has struggled to hold above after 20 days below.

Crypto traders are spotting a pattern forming on Bitcoin’s price chart that may possibly lead to its price moving closer toward reclaiming its 2021 all-time highs.

In an Aug. 24 analysis video, pseudonymous crypto trader Mister Crypto pointed to the Bitcoin (BTC) price chart and explained that when Bitcoin breaks above the $64,000 level, it is “very likely” to return toward the $68,000 level, which it hasn’t reached since July 30.

Bitcoin price chart. Source: Mister Crypto

Read more

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

Bitcoin technical indicators ‘improving’ at $59K may trigger short squeeze

Bitcoin technical indicators are “improving” — meaning a short squeeze may be “inevitable,” according to crypto analysts.

Several of Bitcoin’s popular trading metrics are flashing positive which may force traders to act quickly and cover their positions if macroeconomic events align, according to a crypto analyst.

“Technical indicators are improving, and with some traders holding short positions, there’s potential for a short squeeze,” 10x Research head of research Markus Thielen said in an Aug. 21 report.

One of the key metrics that caught Thielen’s eye as a sign of improvement is Bitcoin’s relative strength index (RSI) “bottoming out” — which measures the speed and change of its price movements to identify overbought or oversold conditions.

Read more

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move

2 key Bitcoin indicators have ‘cooled off’ — Why it could be bullish

The Bitcoin funding rate and 3-month annualized basis rates are moving to levels that signal to traders it may just be the “calm before the storm.”

Two key Bitcoin (BTC) trading indicators — funding rate and 3-month annualized basis rate — could suggest the price is on track to go upwards soon, according to a crypto analyst.

“Looks like we’re consolidating before the next leg up,” Reflexivity Research co-founder Will Clemente wrote in a May 7 post on X, explaining that both Bitcoin’s funding rate and Basis rate have “cooled off” after briefly reaching negative readings.

Bitcoin’s funding rate is often used to track overall trader sentiment for the cryptocurrency market. Exchanges use this rate to balance out traders entering long positions with those opting for short positions to mitigate the risk of overexposure.

Read more

$500M WBTC Burned in the Wake of Coinbase’s Delisting Move