Tag Archives: Bitcoin (BTC) Price

After forming a bearish three-drives reversal pattern, the price has recently dropped below the neckline, delivering a significantly bearish signal for the short-term outlook. As of now, BTC faces an important support region at $21K. Technical Analysis By Shayan The Daily Chart As expected, the three-drives pattern resulted in a trend reversal and a decline in the price. Bitcoin was recently rejected below the neckline and is consolidating with very little momentum. However,...

The cryptocurrency market has stalled in the past few days in a rather untypical fashion, but all that can change this week as there’re multiple major events and announcements coming from the world’s largest economy. It starts with US Fed Chair’s testimony to Congress and spreads to jobless claims as well as the unemployment rate. Powell to Testify The US central bank reversed its monetary policy after the COVID-19 pandemic began to fade away and started rising the interest...

BitMEX co-founder Arthur Hayes published an essay on Thursday outlining “realistic potential situations” that could make oil prices boom, and make Bitcoin’s price skyrocket as a result.  The former CEO argued that such a scenario could spur central banks across the world – including the Federal Reserve – to return to a market-friendly loose monetary policy. Oil and the Money Printer In his blog post titled “Curve Ball,” Hayes described three possible futures that could lead...

This week was a complete rollercoaster in terms of price action as the majority of cryptocurrencies found themselves stuck in a chopping range before the ultimate leg down. Bitcoin was trading at around $23,300 this time last week, and a couple of days later, it attempted the first push toward $24K. it was unsuccessful, and at around the end of the week, BTC found itself below $23K. However, this dip was immediately bought up, and the price tapped $24K on Wednesday. The bulls...

Following an ultimately flat February, eager investors are curious: what’s in store for Bitcoin’s price this March? Here’s a look at how Bitcoin has performed each March over the last 12 years. On average, the asset’s price has risen by 10% each time.  Bitcoin, March, and the Halving In its earliest days, March wasn’t a particularly bullish month for BTC. The cryptocurrency fell by 8.2% to just $0.79 in 2011, and went on to move 0% in March of the following year.  Things...

With Bitcoin withdrawing toward $23k, blockchain analytics firm CryptoQuant has noted two data points to keep in mind while monitoring the asset’s future short-term price action.  Analysts for the company found that some large players appear to be topping up the market with sell pressure – including Bitcoin miners.  Dump Alert? According to CryptoQuant analyst abramchart, whale activity is rising on Bitcoin spot exchanges.  The Bitcoin Exchange Whale Ratio – a metric...

Bitcoin’s price has been consolidating below a significant resistance level in recent weeks after continually failing to break it to the upside. While there is still a high probability for the price to break above this crucial point, multiple support levels are also available if a pullback were to occur. Technical Analysis By: Edris The Daily Chart On the daily chart, the price has been rejected from the key $25K resistance level multiple times recently. Currently, the 50-day...

Bitcoin’s price has been struggling to break above a significant resistance level and is currently experiencing a pullback, following the recent red days on Wall Street. Is it just a short-term correction or a beginning of a new bearish leg? Technical Analysis By: Edris The Daily Chart On the daily timeframe, the price dropped shortly after getting rejected from the critical $25K level. The 50-day moving average around the $22K level would be the first likely support level,...

Bitcoin (BTC) sank back to $23,000 on Friday shortly after the Personal Consumption Expenditure (PCE) price index registered a 5.4% annual increase, and a 0.6% monthly increase, in January. The higher-than-expected figure means the Federal Reserve’s war against rising inflation will likely continue.  Bitcoin started at roughly $24,000 on Friday, staying above $23,800 until about 13:30 UST – when January’s PCE figure was released.  The asset tumbled after that, falling as low...

Bitcoin’s price has been on a rollercoaster throughout the past seven days, and it has failed to chart any significant increase (or decrease) throughout the period. However, it was particularly volatile. Last week at this time, the price was hovering around similar levels, around $24K, but it quickly took for the skies and touched $25K on Sunday. What followed was the first correction back to $24K, after which BTC bounced again and reached $25K once more. It remained there...