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Yaz Sheikh



Articles by Yaz Sheikh

Crypto Price Analysis & Overview July 30th: Bitcoin, Ethereum, Ripple, Binance Coin, and Solana

2 days ago

Bitcoin
Bitcoin saw an impressive 20% price hike this week as it reached the $40K resistance level. The cryptocurrency penetrated above a descending wedge formation last Thursday and continued above the 20-day MA level last Friday.
Since breaking the wedge, BTC surged higher inside an ascending price channel as it broke the 50-day MA level for the first time since May and continued to hit the $40k resistance. It did spike above $40K, reaching $40,500 (bearish .382 Fib) but was unable to close a daily candle above the coveted level. The resistance there is further bolstered by the 100-day MA.
Since then, BTC rolled over and broke beneath $39,000 today. As a result, BTC is now trading below the ascending price channel.
Looking ahead, if the sellers push lower, the first

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Cardano Price Analysis: ADA Bulls Loosing Steam, Struggling At $1.3 Resistance

3 days ago

ADA/USD – ADA Trades Inside Ascending Price Channel
Key Support Levels: $1.23, $1.18, $1.12.Key Resistance Levels: $1.30 – $1.32, $1.40, $1.45.
ADA is up 22% since rebounding from support at $1.05 nine days ago. From there, the cryptocurrency established an ascending price channel as it broke above the 200-day MA and the 2-day MA.
ADA is now struggling to close above the $1.30 resistance and uses the lower angle of the ascending price channel as support. $1.30 provided strong support at the beginning of July and, therefore, is providing strong resistance right now.
If $1.30 is penetrated, ADA is likely to drive higher inside the price channel on the way up toward $1.50.
ADA/USD Daily Chart. Source: TradingView.ADA-USD Short Term Price Prediction
Looking ahead, the first

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Bitcoin Price Analysis: After 22% Weekly, Is BTC Set for Correction?

3 days ago

Bitcoin is up by an impressive 22% this week as it currently battles with the $40K resistance area. As mentioned before, for the past two months, bitcoin’s price was trading between $30K and 42K. This week saw its highest point since June 15 ($41.3K according to BItstamp).
The past week has been promising for BTC, after breaking a descending wedge pattern and finally getting to overcome both the 20 and the 50 days moving average lines. This break of the 50-day MA was the first time the cryptocurrency has been trading above it since early May. As can be seen in the short-term chart below, the price surge is largely confined inside a nicely shaped ascending price channel.
Despite the promising momentum for the bulls, BTC is now testing major resistance of $40-42K, which is

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Ethereum Price Analysis: ETH Faces Critical Resistance, Charts New July Low Against Bitcoin

4 days ago

ETH/USD – Ether Struggles WIth July Resistance @ $2340
Key Support Levels: $2250, $2150 – $2130, $2070.Key Resistance Levels: $2340, $2400, $2530.
Ethereum is surging on the back of BTC rising almost 30% this week. The cryptocurrency managed to break the 50-day MA over the weekend and continued higher from hitting resistance at a descending trend line on Monday.
Since then, ETH has struggled to break resistance at around $2340, provided by a bearish .236 Fib Retracement level. This is the July resistance, and a candle must close above it on the daily chart to signal a potential bull run ahead.
On the 4-hour chart, ETH is trading inside a short-term ascending price channel. It is using the lower angle of this price channel as local support.
ETH/USD Daily Chart. Source:

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Ripple Price Analysis: XRP Surges 15% as Ripple Targets $1.8B Filipino Remittance Corridor

4 days ago

XRP/USD – XRP Hits 200-day MA.
Key Support Levels: $0.7, $0.679, $0.6.Key Resistance Levels: $0.768-$0.782, $0.8282, $0.9.
XRP saw an impressive 10% gain today after announcing a remittance corridor between Japan and the Philipines. It had surged up to 15% but has since retraced a bit. In addition, the coin managed to break the 20-day MA level at $0.6 on Monday and has since continued above it.
Before this, XRP was trading inside a descending wedge formation which was penetrated last week after a double-bottom formed at around $0.51.
Today’s price hike allowed XRP to pass $0.72 and reach as high as $0.768, where it found resistance at the 200-day MA. It has since dropped to around $0.72.
XRP/USD Daily Chart. Source: TradingView.XRP-USD Short Term Price Prediction
Looking

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Bitcoin Facing Critical 2-Month Resistance, Will The Uptrend Continue? (BTC Price Analysis)

5 days ago

Bitcoin is up by a whopping 25% during the week as the primary cryptocurrency reached over $40K yesterday – the highest point since June 15, 2021.
As shown on the charts below, BTC price broke above a falling wedge formation toward the end of last week and eventually managed to climb above the key resistance level provided 20-day MA on Friday.
Then, the price continued over the weekend to finally have a daily close (Sunday) above the 50-day MA, for the first time since May 9. Yesterday, BTC surged by an impressive 15% from the low of $35,280 to the high at $40,500. Unfortunately, it met resistance there at a bearish .382 Fib, along with the 100-day moving average line, and ended up dropping lower to close the daily candle at $37,300.
Today, after finding support amid an

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Cardano Price Analysis: ADA Bulls Step Up With a 10% Surge Above $1.3

6 days ago

ADA/USD – ADA Breaks Long Term Descending Trend Line
Key Support Levels: $1.30, $1.25, $1.20.Key Resistance Levels: $1.35, $1.45, $1.52.
ADA surged 10%, primarily driven by the 12% BTC price hike. The coin dropped into support at $1.05 last week but started to rebound from there. By Wednesday, ADA managed to break the 200-day MA as it continued higher from there.
Over the weekend, ADA continued to climb past $1.20 but struggled with resistance at the 20-day MA. It finally broke the 20-day MA today and surged past a long-term descending trend line in play since mid-May.
From a short-term perspective, ADA is now trading inside an ascending price channel.
ADA/USD Daily Chart. Source: TradingView.ADA-USD Short Term Price Prediction
Looking ahead, the first resistance lies at

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Ripple Price Analysis: XRP Surges 10% Daily but Faces Critical Support Against Bitcoin

6 days ago

XRP/USD – XRP Hits 50-day MA.
Key Support Levels: $0.6, $0.556, $0.5.Key Resistance Levels: $0.69, $0.71, $0.77.
XRP was trading inside a descending price channel since the start of June. However, the coin finally managed to break toward the upside last Thursday and hit the 20-day MA around $0.6 on Friday.
Over the weekend, XRP battled with the 20-day MA but could not overcome it until today, when XRP surged 10%. The coin reached as high as $0.696 but found resistance at the 50-day MA and has since rolled over to $0.65.
XRP/USD Daily Chart. Source: TradingView.XRP-USD Short Term Price Prediction
Looking ahead, the first resistance lies at the 50-day MA at around $0.69. This is followed by $0.71 (July resistance), $0.77 (200-day MA), and $0.8282 (2020 Highs).
On the other

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Ethereum Price Analysis: ETH Now Facing Huge Resistance After 12% Weekly Increase

7 days ago

ETH/USD – Can ETH Break the 50-day MA Resistance
Key Support Levels: $2100, $2035 – $2000, $1960.
Key Resistance Levels: $2165, $2200, $2250.
Ethereum rebounded from support at $1710 (June lows) earlier this week, as it quickly surged back above $2000 on Wednesday. It then continued to surpass the 20-day moving average (MA) line and the 200-day MA, on Friday, along with breaking above a descending trend line that dates back to the start of June.
Yesterday, ETH managed to reach as high as $2200. There, it found resistance upon the critical 50-day MA and has since reversed back towards the $2100 price area, where it is trading as of writing these lines.
The following short-term 4-hour chart shows that ETH is trading inside a steep ascending price channel. The coin hit

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Crypto Price Analysis & Overview July 23rd: Bitcoin, Ethereum, Ripple, Cardano, & Polygon.

9 days ago

Bitcoin
Bitcoin saw a slight 2.3% price hike this week as it trades near $32,500. The cryptocurrency saw a very interesting week in which it spiked lower and produced a daily candle beneath $30K. It quickly rebounded from there and broke back above 30K to reach the 20-day MA at around $32,700. In doing so, BTC is now above a long-term descending wedge that it has been trading inside since mid-May.
The coin was trading inside a descending triangle pattern at the start of the week and went on to break beneath the floor at around $31,200 on Monday. On Tuesday, it dipped further, reaching as low as $29,300 and producing the daily candle close beneath $30K.
From there, BTC quickly rebounded on Wednesday to reach the upper angle of the long-term falling wedge that it was trading

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Ripple Price Analysis: XRP Bulls Regroup to Retest $0.6, Recovery Inbound?

10 days ago

XRP/USD – XRP Breaks June Price Channel
Key Support Levels: $0.556, $0.515, $0.5.Key Resistance Levels: $0.61, $0.7, $0.757.
XRP fell as low as $0.515 this week during the BTC spike beneath $30K. It quickly rebounded from there to break above the 2018 high at $0.556 yesterday. Today, the price hike allowed XRP to break the upper angle of a descending price channel.
The cryptocurrency has been trading inside this price channel since the start of June. It made numerous attempts to break its upper angle over the past fortnight but was rejected on each occasion.
If XRP can close a daily candle above the price channel today, it could be the first signal that it is ready to head back toward the July highs and possibly further.
XRP/USD Daily Chart. Source: TradingView.XRP-USD

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Cardano Price Analysis: ADA Bulls Battle to Maintain Above $1, Will it Hold?

11 days ago

ADA/USD – ADA Rebounds Back Toward 200-day MA
Key Support Levels: $1.13, $1.10, $1.05.Key Resistance Levels: $1.16, $1.20, $1.28.
The BTC price drop beneath $30K yesterday caused had many altcoins to follow suit. During the decline, ADA dropped below the 200-day MA and eventually broke beneath the descending price channel that it was trading within.
It continued to decline and reached as low as $1 before rebounding to close the daily candle at around $1.05.
Today, ADA surged by a strong 12% as it pushed upward from $1.05, reaching as high as $1.18. It is now back above the 200-day MA and is battling the upper angle of the previous descending price channel it was trading inside.
ADA/USD Daily Chart. Source: TradingView.ADA-USD Short Term Price Prediction
Looking ahead, if

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Ripple Price Analysis: XRP Crashes Below 2019 Highs With a 6% Daily Loss

12 days ago

XRP/USD – XRP Rejected At Price Channel Upper Angle
Key Support Levels: $0.5, $0.478, $0.331.Key Resistance Levels: $0.55, $0.62, $0.7.
The 6% price fall today caused XRP to break beneath $0.55 (2019 highs). It has been trading inside a descending price channel since the start of June. Last week, the coin was rejected at the upper angle of this channel on numerous days.
Today, XRP dropped below a short-term falling wedge established at the start of July. As a result, it can continue to trend lower until it can break the upper angle of the descending price channel.
XRP/USD Daily Chart. Source: TradingView.XRP-USD Short Term Price Prediction
Looking ahead, if the sellers push lower, the first strong support lies at $0.5. This is followed by $0.478 (June lows), $0.331, and

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Ethereum Price Analysis: ETH Creates a Fresh Low for July, What’s Next

13 days ago

ETH/USD – Ether Creates Fresh July Low and Retests $1800 Support
Key Support Levels: $1800, $1710, $1625.Key Resistance Levels: $1888, $2000, $2035
Ethereum is feeling the bearish pressure from the Bitcoin price drop as it sinks toward $1800 again. The coin failed to break resistance at the 50-day MA around $2340 earlier in the month and has been declining ever since.
The bulls were battling to hold support around $1880 over the weekend, but today’s price drop pushed ETH as low as $1800 so far as it re-tests the June low-day closing price there.
On the 4-hour charts, Ethereum is trading inside a descending price channel. It tested the upper angle of this channel at $2000 toward the end of last week but has since rolled over and created a new low for July.
ETH/USD Daily

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Bitcoin Price Analysis: BTC Approaches Consolidation Apex, Huge Move Imminent

14 days ago

BTC is down a total of 6% over the week, as of now, while it currently battles to remain above $32K. The primary cryptocurrency has been trading inside a long period of consolidation between $30K and $40.5K since the mid-May capitulation candle and between $30K and $35K over the past month.
This consolidation can be seen in the form of a bearish triangle, as shown below on the daily chart.
Same as it happened over the past weeks when BTC tested the $30-31K lows, this week’s low lies amid the same support line – $31K from Friday.
This critical range has supported the market on numerous occasions since mid-May. Thus, it will be a crucial support to defend to prevent a slide beneath $30K.
BTC is now quickly approaching the apex of the triangle, as seen on the following daily

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Crypto Price Analysis & Overview July 16th: Bitcoin, Ethereum, Ripple, Cardano, & Polkadot.

16 days ago

Bitcoin
Bitcoin dropped by 3% this week, reaching as low as $31,000. The cryptocurrency popped above the 20-day MA on Sunday but quickly reversed and dropped beneath it on Monday.
It found support mid-week at $32,700 but continued beneath there yesterday to reach $31,185 (downside 1.618 Fib Extension) today.
The short-term chart provides a closer perspective of what is going on. It shows BTC trading inside a falling price channel since the start of July. When BTC broke the 20-day MA on Sunday, it found resistance at the upper angle of the price channel and started to head lower.
Today, BTC hit the support at the lower angle of this price channel and the buyers are attempting to defend it. As a result, they have rebounded aggressively and are pushing higher.
Looking ahead,

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Bitcoin Price Analysis: BTC Consolidation Continues, Giant Price Move Imminent

19 days ago

BTC is down by a minor 1.5% today as it struggles to maintain support area amid $33K. It is trading within a narrow range between $36,000 and $32,000 during the first half of July, and all signs point to an upcoming huge move.
The volume for July has remained painfully low, especially during the last two weekends, which saw the two lowest volume days. This, combined with the drawn-out consolidation period, has many traders waiting for a huge move ahead, which would dictate the next trend and is possible in both directions. However, more signs are bearish than bullish.
This move also has a fundamental cause – the GBTC shares unlock. With the $550 million GBTC shares unlock coming this Sunday, it seems that traders are highly cautious, as evidenced by the low volume.

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Ethereum Price Analysis: ETH Facing Critical Long-Term Support, Will $2K Hold?

19 days ago

ETH/USD – Ether Retests Critical $2k Support
Key Support Levels: $2035 – $2000, $1888, $1710.Key Resistance Levels: $2120, $2200, $2340.
Ethereum is starting to struggle again as it falls into critical support around $2000. It was performing well at the start of the month but failed to break resistance at $2340, provided by a bearish .236 Fib Retracement & the 50-day MA level. Last week, it dropped from the 50-day MA to land into the support at 20-day MA at $2120, where it held for four days.
The coin fell beneath that level yesterday and continued to crash towards $2000 today. The support between $2035 and $2000 will be crucial to prevent another capitulation over the coming weeks.
On the short-term 4-hour chart, Ethereum is trading inside a falling wedge which are

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Bitcoin Price Analysis: These Signs Point To an Incoming Huge Move

21 days ago

Amidst another low-volume weekend, there are many signs that the bitcoin price is anticipating a huge move, probably over the next few days or even before.
Looking at the bigger picture, BTC had been trading between $30K and $42K since the May-19 crash, and between $30K and $35K since June-19. Overall, BTC faces a decision point ‘flirting’ with a significant descending trend line that dates back to mid-May, the last time BTC was trading above $50K.
Looking at a more short-term perspective, the price continues to trend beneath the 20-day MA as it battles to break back above $34,000. BTC broke down beneath a short-term ascending trend line on Thursday, but the buyers managed to defend the support level at $32,700 on the daily timeframe. But still, BTC got rejected and still

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Crypto Price Analysis & Overview July 9: BTC, ETH, XRP, ADA, SOL

23 days ago

Bitcoin
After another volatile week, Bitcoin is currently down 2% on the weekly. BTC rebounded from $33K on Monday and pushed higher to meet the upper angle of a symmetrical triangle pattern, as seen on the charts below.
Unfortunately, BTC could not break out and quickly rolled over from there into $33,520 support on Tuesday. After another failed retest of the upper angle on Wednesday (at $35K), BTC heavily rejected and broke to the downside.
Since the breakdown of the triangle, it has found support at $32K, which was the lowest price BTC traded at over the past two weeks, and as of now, BTC is mostly consolidating around the $33K mark.
Looking ahead, the first support lies between $32,730 and $32,270. This is followed by $31,600 (double-bottom support), $31,185 (downside

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Bitcoin Price Analysis: BTC Broke to the Downside, Is Another $30K Retest Incoming?

24 days ago

BTC lost 6% of its value today as it fell through the lower angle of a short-term symmetrical triangle pattern.
As mentioned here yesterday, a huge price move was anticipated due to the decreasing amounts of trading volume, along with reaching the apex of a symmetrical triangle.
Indeed, the move came, and the bearish breakout saw BTC dropping almost $3000 since yesterday’s high, around $35K. Today’s level set a fresh low for July 2021, and it is also the lowest price bitcoin has seen since June 27th.
Before the breakdown, BTC was consolidating inside the short-term triangle pattern – amid the 20-day moving average line for the past days (blue line as shown on the following daily chart). However, bitcoin’s price failed to maintain above it, which led to the sharp dump

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Ripple Price Analysis: XRP Unable to Overcome Resistance at $0.7, What’s Next?

25 days ago

XRP/USD – XRP Remains Inside June Falling Price Channel.
Key Support Levels: $0.6, $0.556, $0.5.Key Resistance Levels: $0.7, $0.72, $0.781.
XRP is down 5% this week as it struggles to break the 20-day MA near $0.7. It is also trading inside a falling price channel that was established at the beginning of June. Each time XRP attempted to break the price channel, the upper boundary rejected it.
The volume remains low for XRP, and an increase in the volume would be required to allow XRP to break the combined resistance at $0.7. It would need to break the falling price channel and push back above $1 before turning bullish again.
Nevertheless, the breakout of the channel should come within the next couple of days. Otherwise, XRP would break the short-term rising trend line and

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Bitcoin Price Analysis: Next Huge Move for BTC Imminent as Price Consolidates

25 days ago

BTC continues the drawn-out phase of consolidation as it trades sideways inside a short-term symmetrical triangle pattern. It looks as BTC awaits the next huge move as the apex of the triangle draws near – in a matter of days or even hours, and the trading volume decreases, which typically happens before a massive move.
Quick recap: Bitcoin tested the upper boundary of the symmetrical triangle earlier in the week but failed to surpass $35,600 – $36K. From there, it headed south and found support at the lower angle at around $33,500. It has since rebounded, and as the coin continues to coil inside the triangle pattern.
On the larger time frame, BTC reclaimed the 20-day MA, which currently lies around $34.3K, and is once again testing resistance at the upper angle of the

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Ethereum Price Analysis: ETH Forming a Rising Wedge – is $2000 Retest Incoming?

26 days ago

ETH/USD – Ether Forms Short Term Rising Wedge
Key Support Levels: $2200, $2100, $2035 – $2000.Key Resistance Levels: $2340, $2400, $2440.
Ethereum has seen a promising start to July as it breaks above the 20-day MA and heads above $2200. The cryptocurrency now faces resistance at $2340, provided by a .236 Fib Retracement, and is trading above a rising trend line.
The rising trend line also forms the lower angle of a rising wedge formation on the 4-hour chart. Typically, rising wedges are bearish patterns, and it could signal a potential retest of the July lows at around $2,000.
ETH/USD Daily Chart. Source: TradingView.ETH/USD 4-Hour Chart. Source: TradingView.ETH-USD Short Term Price Prediction
Looking ahead, the first strong resistance lies at $2340 (bearish .236 Fib).

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Ripple Price Analysis: XRP Fails at $0.7 as Momentum Cools Down

27 days ago

XRP/USD – XRP Falls Short At 20-day MA
Key Support Levels: $0.6, $0.556, $0.5.Key Resistance Levels: $0.7, $0.72, $0.781.
XRP has been trading inside a falling price channel since the start of June. However, the cryptocurrency bounced from the lower boundary of this price channel at the end of the month and hit $0.7 at the start of July.
Unfortunately, XRP has been unable to close a daily candle above $0.7 in July. Alongside the resistance provided by the upper boundary of the price channel, the 20-day MA is further bolstering the resistance there.
Additionally, it looks like the cryptocurrency is starting to form a short-term ascending triangle pattern with the roof of the triangle around $0.72 (200-day MA).
XRP/USD Daily Chart. Source: TradingView.XRP-USD Short Term

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Ethereum Price Analysis: ETH Sets a 16-Day High, Is $2500 In Sight?

28 days ago

ETH/USD – New 16-Day High.
Key Support Levels: $2300, $2250, $2130.
Key Resistance Levels: $2350, $2440, $2540, $2640.
Ethereum rebounded from support at $1700 (mid-March support) at the beginning of last week and surged into resistance at $2300 (bearish .5 Fib) on the first day of July. However, the second-largest crypto quickly got rejected and found support on top of the $2K mark on Friday.
Over the weekend, ETH managed to break back above the 20-day MA (yesterday) and, continued today higher, as it climbed above the June descending trend line. As of writing these lines, ETH set a new 16-day high price at approximately $2350. The last time ETH reached that price area was on June-18, 2021.
ETH/USD Daily Chart. Source: TradingView.ETH-USD Short Term Price Prediction

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Bitcoin Price Analysis: BTC Now Facing Huge Resistance Dated Back to Mid-May

29 days ago

Bitcoin price is up a robust 8.5% from the July low of $32,700, recorded both on Thursday and Friday. The coin surged over $3K over the past two days, breaking above the 20-day moving average line at $34.9K, and is now facing a combination of significant resistance on the daily timeframe.
The major resistance is provided by a falling trend-line that dates back to mid-May when Bitcoin was trading above $50K. This line forms the upper angle of a potential descending triangle pattern, with an apex expected in around 10 days, whereas the triangle floor at around $31K (the level where BTC found support for 5 (!) times already since first retesting it on May 19, 2021).
Looking at the shorter timeframe, bitcoin price was trading inside a descending price channel since hitting the

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Crypto Price Analysis & Overview July 2nd: Bitcoin, Ethereum, Ripple, Binance Coin, & Polkadot

July 2, 2021

Unfortunately, we had another week of particularly choppy price action where most of the cryptocurrencies are trading in the red. Ethereum is an exception with a rather insignificant gain over the past seven days.

Bitcoin
Bitcoin is down a total of 4.7% over the past week as it breaks back beneath $33,000. The cryptocurrency started the week looking promising after double bottoming around $31,600. From there, it started to surge higher as it formed a short-term rising price channel, best seen on the 4-hour chart.
It continued to rise in this channel until hitting resistance at around $36,500 (20-day MA). It rolled over from there on Tuesday and went on to break beneath the channel. On Wednesday, BTC continued beneath $34,000 and broke the neckline of a short-term head and

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Bitcoin Price Analysis: BTC Fails at Critical Resistance, $31K Retest Incoming?

July 1, 2021

Just as bitcoin started to show some promising signs for the bulls, it rolled over and fell by 5% today, hitting $33,000 – the low as of writing these lines. The primary cryptocurrency looked hopeful as it traded inside a short-term rising price channel since double-bottoming at $31.5K over the weekend.
The price channel allowed BTC to hit a 12-day high at $36.6K on Tuesday, but the volume was not increasing and BTC reversed after failing to close a daily candle above the 20-day moving average line (MA). Since then, the cryptocurrency broke beneath the rising price channel and found support at $34,115 (short-term .382 Fib) toward the end of the day.
Today, BTC attempted to push higher and retested the price channel – this time as resistance. However, bitcoin got heavily

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Ethereum Price Analysis: Following a 20% Surge in 3 Days, ETH Cools Off Above $2,100

June 30, 2021

ETH/USD – Ether Stalls At Bearish .382 Fib & 20-day MA
Key Support Levels: $2100, $2036, $2000.Key Resistance Levels: $2160, $2240, $2300.
Ethereum rebounded from support at $1710 (mid-March support) over the weekend and went on to recover by a total of 25% from the low to reach the current $2142 level. After rebounding, it immediately broke above the 200-day MA and continued beyond $2000 on Monday.
Since breaking $2000, ETH reached as high as $2240 yesterday but failed to close a daily candle above $2160. The resistance here is provided by a bearish .382 Fib Retracement and the 20-day MA. Additionally, a falling trendline that spans the month of June is also located there.
ETH/USD Daily Chart. Source: TradingView.ETH-USD Short Term Price Prediction
Looking ahead, if the

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