Tag Archives: BTC Analysis

The instability of Circle’s USDC has caused extreme fear in the market, as stablecoins play a crucial role in the cryptocurrency industry. Bitcoin’s price was affected by the recent turmoil and has declined, but it faces a strong support level. By Shayan The Daily Chart Recently, the price of Bitcoin experienced a downtrend with noticeable bearish momentum after forming a reversal three-drives pattern and breaking down the neckline. The recent turmoil with USDC served as a...

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,...

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’s recent price spikes underline the demand and confidence in the crypto market. This resulted in a significant surge in many cryptocurrencies. However, the price still faces a critical resistance level of $25K before calling the bear market over. Technical Analysis By Shayan The Weekly Chart Looking at a bigger picture of Bitcoin’s price using the weekly timeframe, the price action looks similar to the final capitulation stage of the 2018 bear market. During the final...

Bitcoin’s price exploded following a consolidation and pullback phase. It is currently testing a key resistance level, and its reaction will likely determine the short-term future of the market. Technical Analysis By: Edris The Daily Chart On the daily timeframe, the price is retesting the $25K resistance level once again after a rejection and bearish pullback several weeks ago. Considering the last day’s candle, bullish momentum seems very high at the moment, and a breakout...

On February 14, 2023, The Los Angeles County Museum of Art (LACMA) announced that it received the first and largest donation of NFT art ever sent to an American museum. According to LACMA’s statement, the donation of 22 digital artworks was made by the collector Cozomo de’ Medici. The collection includes works by international artists from Brazil, Canada, China, England, Germany, Portugal, and the United States. Some of the NFTs donated to LACMA. Image: LACMAAmong the donated...

Bitcoin’s recent rally has improved the overall sentiment among market participants. This change of scene has spurred a positive momentum across the industry as signs of a bull market start popping. Technical Analysis By Shayan The Daily Chart The $25K price region has been the most significant barrier in Bitcoin’s path during the last eight months. Most recently, the price attempted to surpass this level and failed, resulting in a consolidation correction stage. However,...

The market has struggled to push above the significant resistance level of $25K, and now the price is slowly declining. Therefore, the possibility of a correction before the next rally has increased. Technical Analysis By Shayan The Daily Chart The $24K-$25K region is currently providing the most significant resistance for Bitcoin on the daily timeframe. It’s also a vital psychological level, as it has been the main barrier during the last eight months. However, due to the...

Bitcoin’s price rally has come to a halt as the market has been consolidating below a significant resistance level for weeks. While there are some worrying technical signs in the short term, a very bullish signal is also developing. Technical Analysis By: Edris The Daily Chart On the daily timeframe, the price has been consolidating below the $25K resistance area as of late. Recent daily candles suggest the bullish momentum is fading. The RSI also confirms this, as it has...