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Tag Archives: BTC Analysis

Bitcoin Price Analysis: Caution – Is the BTC Breakout to All Time Highs Confirmed?

Bitcoin managed to complete a daily close above the previous all-time high at $64.8K at $66K. This is an early bullish signal, but it’s not enough to fully confirm the breakout. For this to happen, we need to see multiple daily closes, as well as weekly ones above $64.8K. This would provide confirmation and further validation. In the near term, we can expect to see multiple retests of $64.8K as a support level. Chart by TradingViewNear-Term Caution for the BTC Price Even...

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Bitcoin Price Analysis: What to Expect Following a New ATH for BTC?

Bitcoin’s price continues to show strength, and it’s trading very close to the all-time highs, with an intraday high at around $64,600 (on Bitstamp) at the time of this writing. The spot volume has been increasing for days, which is a sign of strength. The BTC price action has been impressive on the day the futures-backed BTC ETF started trading. However, it’s important to remain cautious in the near term as the open interest continues to increase – currently sitting at $14.4...

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Bitcoin Price Analysis: Is BTC Set for New ATH Following the Highest-Ever Weekly Close?

For the first time in history, we saw Bitcoin closing a weekly candle above $60K. This happened on the back of reports that the first futures-backed BTC ETF would be officially listed, pending no further interference by the SEC. It’s also important to note that the open interest, the funding rates, as well as the estimated leverage ratio all went up in the interim. This signals that it’s necessary to be cautious, especially given the possibility for the Bitcoin ETF...

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After Breaking $60k, Is Bitcoin Set for Correction Before New ATH? BTC Price Analysis

BTC has been showing strength lately, driven by anticipation of the futures-backed ETF and potential launch early next week. It closed at $61.6k with more than double the daily average volume on Coinbase, showing strong spot buying. Possible Correction for BTC? Although near-term price action has been very bullish with a strong breakout above $52.9k in the last 2 weeks, we need to approach the BTC ETF launch with caution. The risk of a near-term pullback is increasing because...

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Bitcoin Price Analysis: BTC Enters Near-Term Pullback, Is Local Bottom Found?

BTC’s recent 46% rally from the lows at $39.6k has been very impressive as prices pushed above $50k, the September high at $52.9k, with higher highs being made. The above further validates the completion of the bear trap down to $39.6k. Bitcoin has been finding initial resistance as anticipated in the $57.1k to $58.3k, a major zone of technical and on-chain resistance. Chart by TradingViewThe $50k to $58.3k zone includes many buyers from earlier this year who acquired Bitcoin...

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Following Bitcoin’s Bullish Weekly Close, These Are the Next Possible Targets (BTC Price Analysis)

BTC managed to make a strong weekly close above $52.9k, the highs from September, further validating the bear trap to $39.6k. After holding the higher low at $40.7k, a level we have been watching closely, BTC successfully followed through higher by printing a second weekly candle higher. This validates the previous week’s bullish engulfing candle, adding strength to near-term technical momentum and structure. Although last week’s technical conditions were slightly overbought,...

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Bitcoin Price Analysis: BTC Heading for a Critical Weekly Close, Will $52.9k Hold?

BTC had an impressive run this week, managing to push above a key downtrend line and the September high at $52.9k. It managed to hit an intraweek high of $56.1k, digging deeper into the $55k to $58k zone of technical and on-chain resistance. The rally so far has shown profit-taking from much younger coins, while the older cohorts continue to steadily hold. Although many weak hands who bought BTC above $50k earlier this year panic sold during the May liquidation wipe out, we...

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Crypto Price Analysis Oct-8: Bitcoin, Ethereum, Ripple, Cardano, and Polkadot

Bitcoin Bitcoin is up by an incredible 25.7% this week as the cryptocurrency surges beyond $55,000. The increase started at the beginning of October when it managed to break above a descending price channel and go above the 50-day MA. Since then, BTC surged higher during the week until it broke the September highs at $53,000 and met resistance at $55,400 on Wednesday. It did attempt to break above $55,400 today, reaching as high as $56,000 (1.414 Fib Extension) but is showing...

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Bitcoin Price Analysis: BTC Spikes to 5-Month High, What Are The Next Levels to Watch?

October has been exciting for the bulls as BTC continues to push above multiple major resistance levels. The first week of the month isn’t even complete, and BTC has already reached an intra-week high of $55.4K, just entering into the critical $55k to $58k zone of resistance. Since the higher low at $40.7k, Bitcoin managed to rally over 36% to today’s intraday highs. During the weeks of risk-off, Bitcoin managed to hold the deepest higher low at $40.7k, which we covered and...

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Bitcoin Price Analysis: BTC Reclaims Critical Level Following a Strong Weekly Close, Here Are Next Targets

September was a volatile month full of liquidation events, FUD, global risk-off, uncertainty over monetary policy, and a rising dollar. Yet, Bitcoin managed to hold the larger technical structure at $40k while maintaining the bullish trend in on-chain metrics. BTC has shown tremendous strength in the past week by closing back above the rising trend line at $44k, reclaiming $45.2k, the critical 200-day moving average, and printing a bullish engulfing candle. Bitcoin also...

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