Tag Archives: Bitcoin (BTC) Price

Bitcoin is resuming its flat price action, consolidating inside a huge bearish flag. Currently, the price is struggling with the $42K level. In case of a breakout and a higher high above $42K – Bitcoin will likely head towards $46K. The $46K – $48K area is significant from both the classical price action and supply and demand perspectives, as it forms the top trendline of the bearish flag pattern, along with a critical supply zone. The Daily Chart Technical Analysis by Edris...

Since early 2022, Bitcoin has been in a ranging phase, resulting in two crucial supply and demand levels. There seems to be a lot of demand in the form of bids and stop-losses above $45K, making it a significant level to watch. Technical Analysis The Daily Chart: Technical Analysis By Shayan As the daily chart illustrates, the price has been supported by the significant support level at $37K, which has led to a break out of the RSI’s resistance trendline and now is attempting...

The Federal Reserve has raised interest rates for the first time since 2018 after months of promising to address inflationary pressure in the United States. The hike – a moderate 25 basis point increase – was immediately followed by Bitcoin falling under $40,000 again. At the Federal Open Markets Committee meeting on Wednesday, the Fed cited rising concern over inflation in the context of supply chain difficulties and the new war in Ukraine as justification for its move. In...

Last weekend marked the second anniversary of the notorious COVID-19-induced bitcoin crash in which the asset dumped by 50% in a day to below $4,000. While many naysayers rushed to declare BTC’s death (again), the subsequent 24 months turned out to be quite positive, given the fact that the asset added another zero to its USD price, was adopted by numerous institutional investors, and even legalized in a country. What Happened Back Then? It has been two years, but it almost...

Since January 2022, Bitcoin has been experiencing significant volatility. The following chart shows an evident supply zone at the $45-46K price area, marking it the range’s top and the main barrier for the BTC price to reach out for a possible retest of the $50-60K channel. On the other hand, a distinguished demand area at the $33-35K region marks this area as the lower consolidation boundary. The Daily Chart Technical Analysis by Shayan Currently, the price stabilizes above...

Bitcoin has been trading sideways in the past few weeks. It is still consolidating between the $36K and $45K levels, liquidating both bulls and bears on multiple occasions. With the current economic and geopolitical uncertainty, it would be wise to consider the worst possible case and plan it. Technical Analysis By: Edris The Daily Chart: On March 7th, BTC rebounded from the lower boundary of the range and broke above the 50-day moving average. The next day, it regained the...

Bitcoin’s price has been declining over the past few days, almost reverting all gains from the past greenish week. In fact, Bitcoin lost over $6K over the past 3-days. However, there is a positive sign for the bulls: Despite the fear and uncertainty in the market, the divergence between the long-term holders (accumulating) and short-term holders (spending in loss) is much more significant in this crash compared to May 2021’s 50% drop. Technical Analysis By: Edris The Daily...

Nigel Green – CEO of deVere Group – believes the Russia-Ukraine conflict could be the catalyst that propels a surge for BTC’s price. The exec suggested that bitcoin reaching $50,000 by the end of March is not out of the question. BTC to Gain Traction Because of the War Despite the Russian invasion of Ukraine and the peace uncertainty across Europe, bitcoin’s price started climbing recently. The asset’s USD value is up by more than 15% over the last five days, as many argue...

The past seven days had been a blast for Bitcoin, after soaring to the top of the trading range between $34K and $46K. However, it got sharply rejected, reaching the resistance zone amid the $45K area, along with an ascending trendline. Technical Analysis By: Shayan Long-Term: The Daily Chart Right now, there is potential selling liquidity above the $46K area and considerable buying liquidity below the $35K area. Moreover, there is an apparent divergence between the price and...

Large bitcoin investors, more specifically such holding at least 100 and 1,000 coins in a single wallet, have started accumulating once again in massive portions. At the same time, the so-called accumulation wallets – meaning those who were active lately but have not spent any BTC – charted a new all-time high. Bitcoin Whales on Buying Spree It’s safe to conclude that there’s a lot of uncertainty in today’s financial world. While humanity was about to reduce the impact of the...