NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Bitcoin Rally Will Continue, Analyst Asserts With Three Bullish Indicators

Yashu Gola
Yashu Gola
1 year ago
3 mins read
bitcoin, btcusd, xbtusd, cryptocurrency, crypto

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

  • Bitcoin expects to hold its long-term bullish bias as long as it trading above $8,800, according to market analyst Mohit Sorout.
  • Bitazu Capital’s founding partner based his analogy on three bullish technical indicators, each signifying a favorable buying sentiment in the cryptocurrency market.

A modest rally in the Bitcoin market on Tuesday promised to improve its short-term outlook. A day later, the cryptocurrency corrected lower on profit-taking sentiment, signaling it may negate all its recent gains in favors of bears.

However, Mohit Sorout believes the next Bitcoin plunge will do very little in setting up a stronger bearish bias.

The founding partner at India-based hedge fund, Bitazu Capital, stated that any downside pullback till the $8,800-level will attract buyers. Overall, it should keep Bitcoin’s year-to-date gains in positive territory.

The bullish analogy took cues from a string of indicators that reflected growth in the BTC/USD market. Mr. Sorout first referred to the Golden Cross patterns forming across the cryptocurrency’s multiple moving averages.

#1 Bullish Crossovers

On May 19, for instance, Bitcoin’s 50-day moving average closed above its 200-day moving average. More than a month later, the cryptocurrency’s 100-day moving average also crossed above the 200-day one.

bitcoin, btcusd, xbtusd, cryptocurrency, crypto

BTCUSD golden crosses formation. Source: TradingView.com

Traders interpret such crossovers as a sign of growing buying sentiment. The 50-200 Golden Cross from 2019, for instance, has shot BTC/USD upward by as much as 270 percent within three months after its formation.

“50×100 & 50×200 Golden Cross is a powerful signal of long term appreciation,” asserted Mr. Sorout.

#2 Bitcoin Hash Ribbons

Mr. Sorout coupled the Golden Cross indicators with Hash Ribbons to strengthen Bitcoin’s long-term bullish outlook. Hash Ribbons identity the cryptocurrency’s price bottoms and peaks by analyzing the behavior of entities that mine it.

In simple terms, when a Hash Ribbons return “Capitulation,” it means that miners are selling more tokens than they are mining. Its opposite, which is “Accumulation,” shows miners are holding more and selling less.

bitcoin, btcusd, xbtusd, cryptocurrency, crypto

BTC Hash Ribbons signal buying sentiment. Source: TradingView.com, Mohit Sorout

Mr. Sorout highlighted that the Hash Ribbons on a BTC daily chart has signaled a buying sentiment, adding that even a pullback won’t do much harm to the cryptocurrency as long miners limit its supply to the retail markets.

#3 Mining Revenue Stabilizes

Another indicator that shows Bitcoin miners in a healthy shape is Miner’s Revenue.

Mr. Sorout highlighted that the mining profits have stabilized following Bitcoin’s third halving on May 11. The event effectively slashed the cryptocurrency’s daily reward from 1,800 BTC to 900 BTC, leaving miners with half the revenue than they used to make earlier.

As a result, capitulation increased, which, in turn, left BTC/USD in distress. But with miners’ revenue stabilizing, the selling pressure in the BTC/USD market appears to have been easing, as well.

bitcoin, btcusd, xbtusd, cryptocurrency, crypto

BTC miners' revenue stabilizing after halving. Source: TradingView.com, Mohit Sorout

“Bitcoin trend is up, miner’s revenue metric paints a bullish picture,” wrote Mr. Sorout.

The BTC/USD exchange rate was trading 0.53 percent lower on Wednesday.

Tweet123Share196ShareSend
Yashu Gola
Yashu Gola

Yashu Gola

Yashu Gola is a Mumbai-based finance journalist. He is profoundly active in the bitcoin space since 2014 – and has contributed to several cryptocurrency media outlets, including NewsBTC, FxDailyReport, Bitcoinist, and CCN.

Read more

Academically, Yashu holds a bachelor's in information technology, with majors in data structures and C++ programming language. He has also won the 'Atulya Award' for his efforts towards raising $100,000 for an India-based farming project.

Close

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Bitcoin Hits $123K, But Market Euphoria Has Yet to Kick In, Says Analyst

Bitcoin Hits $123K, But Market Euphoria Has Yet to Kick In, Says Analyst

Bitcoin has reached new milestones this week, briefly breaking above the $123,000 mark earlier today before retracing slightly to $121,812...

Samuel Edyme 1 hour ago
Bitcoin

Bitcoin Is Not Stopping At $123,000 — Technical Indicators Point To $140,000 Top

Bitcoin (BTC) has reignited market excitement after smashing through the $123,000 level. Currently, technical indicators, surging liquidity, and macroeconomic tailwinds...

Scott Matherson 2 hours ago
Cardano price news

Cardano Flashes Major Buy Signal—$1.90 Target Unleashed

Crypto analyst Investing Broz has spotlighted Cardano (ADA) as one of the most promising altcoins currently breaking out amid a...

Jake Simmons 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

比特幣突破12萬美元上望20萬 值得關注5種可能突然上漲100倍山寨幣

Mark Mak 18 minutes ago
Bitcoin

Bitcoin Hits $123,000—But Inflows Are Just A Fraction Of 2024’s Peak

Keshav Verma 19 minutes ago

加密周引爆比特幣與山寨幣牛市狂潮 TOKEN6900強勢飆升中!

estherw 1 hour ago

Premium Sponsors

Press Releases

  • How XRP Users Can Make $1 Million from $100 in No Time at...

    19 minutes ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 достъпни криптовалути с...

    5 hours ago
  • Aceste 3 monede sub 5 lei ar putea transforma o investiție de 1.000 RON în 10 milioane RON până în 2027

    2 megfizethető kriptó 9000%-os potenciállal, olyan...

    6 hours ago
  • 2 cenovo dostupné kryptomeny s potenciálom 9 000 %, podobne ako kúpa Etherea za 8 dolárov začiatkom roku 2017

    2 cenovo dostupné kryptomeny s potenciálom 9 000 %...

    7 hours ago
  • Bitcoin Hyper

    ...

    10 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. 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.