Tag Archives: Bitcoin (BTC) Price

From euphoria to depression: The crypto traders thought they are leaving off for Christmas in an optimistic mood; however, Bitcoin had other plans, as of now.Two days ago, following accurately touching the critical resistance level of $7700, which was discussed here many times as the short-term first significant level, the cryptocurrency got poorly rejected.Less than 24 hours, and Bitcoin finds itself seeking support on top of the $7200 horizontal line, along with the mid-term ascending...

The Bitcoin breakout came just hours after our previous price analysis about the fact that BTC is stuck inside a tight range for too long (and it doesn’t like to be in that situation).Those are our words that were written yesterday:“In the micro-level, we can identify a bullish triangle on the 4-hour timeframe; but anything can change. The only thing we predict is a huge move, which is likely to take place in the next 1-2 days.”Bitcoin broke above the bullish triangle at $7200, quickly...

Bitcoin doesn’t like to stay so long at one spot. The more it does remain, the sharper the next move will be.Let’s start from the macro-level: the last Wednesday saw Bitcoin’s huge price move of about a $1000 gain in just 12 hours – surging from below $6500 straight into the $7400 resistance (the marked MA-100 on the 4-hour chart).A price drop followed this major move down to $7000, and then a stabilization inside a tight range, like Bitcoin was used to do in the past month.This time the...

BitcoinBitcoin went through a rollercoaster of price action this week. On Monday, the cryptocurrency started to fall, and it dropped by a total of 10% by Tuesday to reach a low of $6,430. However, after that, it rebounded higher, gaining a total of 15% to climb back above the $7,000 level and reach the current support of $7,125.If the buyers continue to drive the coin higher, an initial resistance is expected at $7,400. Above this, resistance lies at $7,686 (bearish .382 Fib Retracement), and...

After going through another volatility earlier this week, which pushed its value down to as low as $6450 on major exchanges, Bitcoin has made a quick recovery above $7,000 and is currently trading at $7,200, indicating a 1.12% gains on the daily chart. Meanwhile, Bitcoin’s dominance continues to increase and it stands at 68.3%. This week’s drop didn’t only cause panic among traders but also turned the entire market into a red zone. Bitcoin’s quick recovery, however, has given a sense of hope...

Bitcoin was a down-trend road for the past two weeks, and this is no secret. Yesterday the lowest price since May 2019 was reached once again – roughly around $6500.Once it was reached, it completed a 10-days decline of $1100 or 15%. That was the right place to ask – “Is it a time for a correction,” which was the title of yesterday’s Bitcoin analysis.A few hours later, the (maybe temporary) bottom was marked once again around $6500 and once again, we saw a quick correction back above. The...

Bitcoin and most altcoins have marked a few consecutive days of negative price action. In a recent poll regarding Bitcoins’s potential bottom, over 70% of voters said that it would be below $6,000. Additionally, the Fear and Greed Index is dropping daily, further confirming the negative sentiment among the community.Where Will Bitcoin Bottom?One of the most prominent cryptocurrency analysts conducted a Twitter poll regarding Bitcoin’s bottom. The community had four options to choose from,...

So far, the month of December 2019 reminds us of the cruel month of December 2018.Last year it was the capitulation candle to $3122 that was achieved on December 15. This year’s December isn’t disappointing the bears at all: from the monthly high that was reached on Dec 4 at $7770, down to $6530, which is the current low on Bitstamp as of writing these lines.The bearish momentum is all over, and if you were following, we had stated that here in the previous price analysis posts over the past...

After two weeks of consolidation steadily above the $7000, Bitcoin broke below. If you were following the recent price analysis posts here, you would not be surprised.Bitcoin was showing weakness, not being able to overcome the mid-term descending trend-line (shown both on the following 4-hour and 1-day charts).Aside from this, the long positions are mysteriously increasing to their all-time high. This is definitely not a good sign for the bulls, as they are already smelling the long...