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As Bitcoin (BTC) consolidates just below $105,000, an analyst has identified a historical trend that could propel the flagship cryptocurrency to a new all-time high in the coming weeks. Since bottoming in early April, Bitcoin has moved in a clear $10,000 step-like pattern, first breaking through $74,000, then $84,000, $94,000, and now consolidating near $104,000. This consistent progression has seen each primary level tested and breached, forming a well-defined upward channel.  According to prominent crypto analyst TradingShot in a TradingView post on May 16, this formation suggests that Bitcoin is trading within an ascending channel, indicating room for continued gains. Bitcoin price analysis chart. Source: TradingView/TradingShot If the channel holds, the next potential milestones are $114,000, $124,000, and ultimately $134,000, a key target TradingShot projects for late June or early July. However, the bullish structure comes with risks. A breakdown...

The BRICS alliance is planning to create an independent payment system to settle cross-border transactions among member nations. The new payment system will not integrate the US dollar into the mechanism and could settle trade in local currencies. The US dollar could be sent on the path of decline and strengthen the native currencies of developing countries. Read here to know how many sectors in the US will be affected if BRICS ditches the dollar for trade. Also Read: 47 Countries Ready To Join the BRICS Alliance The chances of hyperinflation in the homeland remain high if the US fails to import the dollar across the world. Developing countries are aiming to cut ties with the US dollar in the hopes of toppling it as the world’s reserve currency. The BRICS payment system could be the vehicle that could meet the financial aspirations of developing nations. Also Read: New Country Shows Interest To Join BRICS Before 2024 Summit BRICS Payment System: More Than 50 Countries To Join the ...

Bitcoin (BTC) is currently trading with a bullish bias, with the cryptocurrency climbing to its highest point in over a month. As the asset shows strength, the market remains on edge regarding the next move, especially if Bitcoin is primed to reclaim another record high. In looking at the next Bitcoin price trajectory, crypto analyst RLinda pointed out in a TradingView post on May 18 that bulls are now ready to challenge Bitcoin resistance. According to the analyst, buyers have pushed Bitcoin’s price upward after successfully defending the $64,500-$65,000 support range, testing the resistance at $67,250. Picks for you Is Silver set to outperform Gold by 2024? 22 mins ago Bitcoin pool mines seven blocks in a row, raises security concerns 50 mins ago U.S. banking giants experiment tokenization with this cryptocurrency 19 hours ago Will the USDC outperform USDT in 2024? 19 hours ago Bitcoin price Analysis chart. Source: TradingView/RLinda ...

A fresh BTC price charge on liquidity around $30,000 ends in a return to a familiar Bitcoin trading range. Bitcoin (BTC) saw another failure to exit a tight trading range into April 6 as $28,000 again hung in the balance. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Analysis sees traders "compressing" BTC price Data from Cointelegraph Markets Pro and TradingView showed BTC/USD trading below the the $28,000 mark at the time of writing. The pair had approached $29,000 the day prior, eating into ask liquidity in what Analysis called a “choreographed” move by whales. That appeared to be true, as upward momentum soon faded and spot price remained in an increasingly narrow range. The cloud of liquidity around $30,000 thus remained untested, much to the frustration of those hoping for an easy continuation of 2023 upside. In follow-up commentary, monitoring resource Material Indicators noted that traders had moved both bid and ask liquidity toward each other, “compre...