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Tag Archives: BTC Analysis

Crypto Price Analysis & Overview May 21st: Bitcoin, Ethereum, Ripple, Binance Coin, and Polkadot

The past seven days were particularly volatile and, unfortunately for many, bears had the upper hand. Bitcoin dropped to a price not seen since January, while the rest of the market followed. Bitcoin Bitcoin is down another 18.5% this week as it trades near $40,900. The cryptocurrency is now down by a total of around 35% from the $64,895 all-time high set in April. BTC saw an extremely volatile week in which prices dropped as low as $30,000 on Wednesday – hitting levels not...

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Bitcoin Price Analysis: BTC is Now 40% Below ATH, Bulls Eye the MA-200 Crucial Level

Bitcoin saw another sharp 17% price drop today, causing the cryptocurrency to spike as low as $36,250 as of writing these lines. In total, the coin has now dropped by over 30% in a matter of days, and 40% below the current all-time high at around $65k. The first signal for the bitcoin downturn was the break beneath the rising trend line at the beginning of the past week when BTC fell beneath the $50,000 psychological support. From there, the coin continued to drop to find...

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Bitcoin Price Analysis: Is The Current 20% Weekly Drop a Healthy Correction or Sub-40K Coming?

Bitcoin is down another 7.5% today as the cryptocurrency slides into the $45,000 region. The total weekly price decrease now exceeded 20%. The good news? Bitcoin was able to recover after hitting as low as $42K earlier today. An overview of May: Last week, bitcoin fell beneath a rising wedge formation after Tesla revealed they had stopped receiving BTC payments for their cars. The news caused a significant sell-off in which BTC dropped as low as $47,000, where it found...

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Bitcoin Price Analysis: BTC Still In Danger As Bulls Struggle To Reclaim The $50K Mark

Bitcoin is down by a total of 17% since last Sunday as the primary cryptocurrency struggles to regain ground above the $50,000 milestone. Most of the downside action took place on Wednesday, after Tesla announced they halted to accept BTC as a payment method for their electric vehicles. The news sent BTC tumbling as it slipped to an 11-week low at $45,700, according to Bitstamp. The bulls attempted to rebound on Thursday and Friday as they battled to break back above $50,000....

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Crypto Price Analysis & Overview May 14th: Bitcoin, Ethereum, Ripple, Cardano, and Uniswap

Despite the recent market-wide crash, Ethereum continues to lead amid the large-cap cryptocurrencies. Today, we take a closer look into the following cryptos: Bitcoin Bitcoin is down by a total of 10% this week as it saw turbulence over the past two days with Telsa removing BTC payments for its vehicles. The cryptocurrency failed to break a falling resistance trend line at around $59,000 at the start of the week and started to head lower from there. On Wednesday, the...

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Bitcoin Price Analysis: BTC Breaks Beneath Rising Wedge, Where is The Target?

Bitcoin is down almost 5% today as the primary cryptocurrency broke below a rising wedge formation. BTC reached as high as $59,600 yesterday, touching the upper boundary of the wedge. However, the steep dive started from there. As mentioned yesterday, bitcoin was trading inside a rising wedge pattern, which in most cases tends to break to the downside. This is what happened this time as well. After breaking toward the bearish side, BTC continued to plummet but managed to find...

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Bitcoin Price Analysis: BTC Trapped Inside a Rising Wedge, Breakout Soon?

After reaching today’s high of $59,600 according to bitstamp, Bitcoin reversed back into the rising wedge it is currently trading inside as can be seen on the following 4-hour chart. BTC performed well over the weekend as it broke above a descending trend line on Saturday, and climbed above the Feb 2021 highs of $58,355, however, yesterday’s daily close was below the significant resistance area. As mentioned above, today’s current high is the upper boundary of an ascending...

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Crypto Price Analysis & Overview May 7th: Bitcoin, Ethereum, Ripple, Cardano, and Litecoin

Altcoins continue to outperform bitcoin’s price and this week was no exception. One of the biggest winners over the past seven days was Litecoin, up more than 40%. Here’s how some other top coins performed and what to look forward to. Bitcoin Bitcoin is up by a total of 5.5% this week as it battles with $56,500 in an attempt to climb over the 50-days MA. It has struggled to surge above $58,000 so far in May as it fails to break above a short-term descending trend line. On...

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Bitcoin Price Analysis: BTC Struggles at a Critical Support Level

Today, bitcoin dropped by a sharp 4.8% and reached as low as $54,650. However, the cryptocurrency is back trading at around $56,000 as it found solid support at the 20-day MA which allowed it to rebound. A quick recap: Bitcoin’s price decreased to as low as $47,000 (.5 Fib) over the past two weeks but it has since recovered a lot of the losses. As can be seen on the short-term charts, BTC was trading inside an ascending price channel over the week as it reached the February...

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Bitcoin Price Analysis: BTC Now Retests Critical Support Line, Will The Uptrend Continue?

Yesterday, bitcoin surged by an impressive 9% from daily low to daily high, surpassing the $58k mark. This continues the ongoing bullish week for BTC. Just six days ago, on Sunday, bitcoin price plunged to as low as $47k. Yesterday’s spike allowed bitcoin to climb back above the significant 50-day moving average line, after spending 11 days beneath it. Before this, bitcoin hadn’t seen a daily close beneath the 50-days MA since October 2020. As a quick recap, BTC broke below...

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