{"id":53948,"date":"2022-10-18T12:25:32","date_gmt":"2022-10-18T10:25:32","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=53948"},"modified":"2022-10-18T12:25:32","modified_gmt":"2022-10-18T10:25:32","slug":"btc-signals-bullish-momentum-likely-to-breakout-soon-report","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/btc-signals-bullish-momentum-likely-to-breakout-soon-report\/","title":{"rendered":"BTC Signals Bullish Momentum, Likely To Breakout Soon: Report"},"content":{"rendered":"<p style=\"text-align: justify\"><strong>Weiss Crypto<\/strong>, the crypto-focused arm of leading financial advisor Weiss Ratings <strong>has claimed that <a class=\"keychainify-checked\" href=\"https:\/\/crypto-economy.com\/bitcoin-dips-to-multi-year-low-is-crypto-winter-real\/\" target=\"_blank\" rel=\"noopener\">Bitcoin (BTC)<\/a> is on the verge of a bullish breakout after a muted weekend, <\/strong>plummeting to $18,200. <!--more--><\/p>\n<p style=\"text-align: justify\">According to the financial rating firm, <span style=\"color: initial\">BTC technicals and hash rate indicate that the market is on the verge of a bullish breakout from its descending channel. It seems Bitcoin (BTC) has been stuck in the downward trend since November 2021. The <strong><a class=\"keychainify-checked\" href=\"https:\/\/weissratings.com\/en\/weiss-crypto-daily\/btc-bullish-and-on-verge-of-a-breakout\" target=\"_blank\" rel=\"noopener\">report<\/a> <\/strong>suggested that if the flagship token rises above the upper bound of the channel, <strong>BTC prices is likely to surge<\/strong>. Despite the gloomy macroeconomic conditions, there is a high chance of Bitcoin breaking out.\u00a0<\/span><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">#Bitcoin<\/a> is on the verge of a bullish breakout from its descending channel:<a href=\"https:\/\/t.co\/7V28QwcxAw\" target=\"_blank\">https:\/\/t.co\/7V28QwcxAw<\/a><\/p>\n<p>&mdash; Weiss Crypto (@WeissCrypto) <a href=\"https:\/\/twitter.com\/WeissCrypto\/status\/1582102467499921408?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">October 17, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2 style=\"text-align: justify\">Bitcoin Looks Good in its Rangebound Zone<\/h2>\n<p style=\"text-align: justify\"><img fetchpriority=\"high\" decoding=\"async\" class=\"aligncenter wp-image-53956 size-full\" src=\"https:\/\/crypto-economy.com\/wp-content\/uploads\/2022\/12\/1_2-3.jpg\" alt=\"BTC Signals Bullish Momentum, Likely To Breakout Soon: Report\" width=\"941\" height=\"576\" \/><\/p>\n<p style=\"text-align: justify\">Weiss Crypto noted after a weekly close above $19,000, Bitcoin (BTC) is overall looking good in its rangebound zone. A pullback buying can be seen with a breakout above $22,000 likely to lead to further upside movement.<\/p>\n<p style=\"text-align: justify\">Since June 2022, the bellweather token has been trading in a narrow range of around $20,000. As per the report, the bullishness comes after a weak weekend and an extremely volatile Thursday and Friday, caused by the Consumer Price Index (CPI) report.<\/p>\n<p style=\"text-align: justify\">On the other hand, the hash rate of Bitcoin (BTC) has continued to renew all time highs. On October 18, <strong>Ki Young Ju<\/strong>, CEO at CryptoQuant, tweeted that due to a US based institutional grade mining pool operator, <strong>&#8220;FoundryUSA&#8221;<\/strong>, Bitcoin&#8217;s hash rate <strong>keeps<\/strong> <strong>renewing its all time highs<\/strong>. Despite a difficulty increase and BTC U.S. dollar value sliding to $18,183 on October 13, Bitcoin network&#8217;s hashrate continues to climb higher.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Bitcoin hash rate keeps renewing all-time high thanks to FoundryUSA pool.<\/p>\n<p>Since 2021 Dec, they have become the biggest <a href=\"https:\/\/twitter.com\/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$BTC<\/a> mining pool with 2.5x growth over the past 12 months from 10% to 25%. <a href=\"https:\/\/t.co\/seRrUvZNvZ\" target=\"_blank\">https:\/\/t.co\/seRrUvZNvZ<\/a> <a href=\"https:\/\/t.co\/zrpVFSDaSU\" target=\"_blank\">pic.twitter.com\/zrpVFSDaSU<\/a><\/p>\n<p>&mdash; Ki Young Ju (@ki_young_ju) <a href=\"https:\/\/twitter.com\/ki_young_ju\/status\/1582086415961116674?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">October 17, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2 style=\"text-align: justify\">Crypto Market Enters a Matured Phase<\/h2>\n<p style=\"text-align: justify\">At print time, Bitcoin (BTC) is trading at $19,519 <strong>gaining 0.95 per cent in the last 24 hours.<\/strong> Bitcoin&#8217;s dominace has also increased 0.18 per cent over the day to 40.20 per cent. In a span of 7 days, BTC has jumped nearly 2.40 per cent.<\/p>\n<p style=\"text-align: justify\"><img decoding=\"async\" class=\"aligncenter wp-image-53955 size-full\" src=\"https:\/\/crypto-economy.com\/wp-content\/uploads\/2022\/12\/1-11.jpg\" alt=\"BTC Signals Bullish Momentum, Likely To Breakout Soon: Report\" width=\"860\" height=\"456\" \/><\/p>\n<p style=\"text-align: justify\">It seems the crypto market has entered a more mature and stable phase since the beginning of this month with Bitcoin finding strong support at the $19k level. In a statement, <strong>Edul Patel<\/strong>, CEO and Co-founder at Mudrex said,<\/p>\n<p style=\"text-align: center\"><em>&#8220;It seems like BTC has fixed above the $19,000 level, which indicates the rise of buyers in the market. BTC is currently trading above the $19,500 level. The next resistance could be at $19,647. If bulls break the resistance, BTC might rise to the $20,000 zone.&#8221;<\/em><\/p>\n<p style=\"text-align: justify\">\n<div class=\"article__main-img-wrapper\" style=\"text-align: justify\"><\/div>\n<p style=\"text-align: justify\">\n","protected":false},"excerpt":{"rendered":"<p>Weiss Crypto, the crypto-focused arm of leading financial advisor Weiss Ratings has claimed that Bitcoin (BTC) is on the verge of a bullish breakout after a muted weekend, plummeting to $18,200.<\/p>\n","protected":false},"author":21,"featured_media":53963,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[100,70,84,74,9156],"tags":[4602,4610,5536,5228],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/53948"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/21"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=53948"}],"version-history":[{"count":0,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/53948\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/53963"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=53948"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=53948"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=53948"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}