Tag Archives: BTC Analysis

Bitcoin’s price has been oscillating in a very tight range heading into the new year’s holidays, offering little clue on the direction of the next significant move. Nevertheless, the market remains in a very decisive area, and its fate could be revealed in the next few days. Technical Analysis By: Edris The Daily Chart On the daily chart, the price has been grappling with the 50-day moving average around the $16,700 mark for a while now but is yet to break it in any...

Bitcoin continues to print minor daily fluctuations as the price consolidates inside a tight range with low volatility. Currently, the price is testing a significant resistance area, and in case a rejection takes place – BTC is likely to retest lower-price areas. On the other hand, a breakout could lead to a mini-rally. Technical Analysis By Shayan The Daily Chart Bitcoin has failed to sustain above the 50-day and 100-day moving averages over the last few months. Most...

Bitcoin is grappling with a crucial resistance level at roughly $17K, which also aligns with the 100-day moving average. A breakout from here will potentially initiate an uptrend in the short term. Technical Analysis By Shayan The Daily Chart The price has been trapped inside a descending wedge pattern for several months and is consolidating with significantly lower volatility. Meanwhile, the 100-day moving average has served as a powerful barrier at around $17K. The current...

Bitcoin’s price continues to consolidate in a tight range, as it failed to break a significant resistance level to the upside a few days ago. However, from a technical analysis standpoint, the time for a decisive breakout is near. Technical Analysis By: Edris The Daily Chart On the daily chart, the price is still consolidating in a large falling wedge pattern. These are commonly known as potential bullish reversal patterns in a bear market, provided they get broken to the...

The overall Bitcoin price action is on an impulsive decline after experiencing a significant rejection from a long-lasting resistance level at $18k. Failing the support level at $15k, the bulls could be in for a lot of trouble soon. Technical Analysis By: Edris The Daily Chart: Looking at the daily chart, the price oscillates in the large falling wedge pattern. While this is usually a reversal pattern in a downtrend if broken to the upside, the price has failed to reach the...

This week’s CPI announcement was a significant relief for Bitcoin investors, as declining inflation would likely lead to a bullish trend for risk assets. However, there is still room for caution from a technical analysis standpoint, as the price has yet to break any major resistance level. Technical Analysis By: Edris The Daily Chart On the daily timeframe, the price has finally reached the $18K resistance area and is currently trying to break it to the upside. The 50-day...

Bitcoin is fighting to get over two crucial resistance levels. A successful breakout above these vital barriers could potentially result in a bullish surge in the near future. Technical Analysis By Shayan The Daily Chart After touching the lower trendline of the descending wedge pattern, the price of bitcoin initiated a mini-rally followed by extremely low momentum and trading volume. The price now faces two substantial resistance levels: the 50-day moving average at $17.9K...

Bitcoin’s price is approaching a key resistance area as the markets are patiently waiting for the CPI release next week. Both the chart and the high probability of another decline showing in the inflation readings are suggesting that a turning point for Bitcoin may be near. Technical Analysis By: Edris The Daily Chart On the daily chart, the price is still trapped in a large descending channel and has yet to break it to either side. This pattern is typically an early sign of...

Following a massive decline in early November, Bitcoin’s price has consequently suffered from extremely low volatility. The cryptocurrency has been consolidating with serious downward momentum since this significant drop. Technical Analysis By Shayan The Daily Chart After falling below both the yellow trendline and the significant support level of $18K, the price is seeing very low volatility on the daily chart. A pullback to the trendline and the broken level is necessary...

Bitcoin’s price is approaching a significant level, which could prove decisive for the mid-term trend of the market. Although there are some positive signs on the technical charts, it remains too early to decide whether a new bullish phase is on the horizon. Technical Analysis By: Edris The Daily Chart: On the daily chart, Bitcoin’s price has been forming a large falling wedge over the last few months. The price has recently bounced back from the lower boundary of the pattern...