Tag Archives: BTC Analysis

Bitcoin currently gives a ‘calm before the storm’ feeling, as the price has had minimal changes in the last few days. However, there are some interesting levels to watch in the short term. Technical Analysis By: Edris The Daily Chart As seen on the daily chart, the price has observed very small changes in the last few days. Presently, Bitcoin is consolidating in a very tight range at the $20K support zone. The 50-day and 100-day moving average lines are located at the $22K...

It’s been over 9 months since Bitcoin’s all-time high at $69K in November 2021. The cryptocurrency continues its gruesome downtrend and has yet to show any signs of recovery. The market is currently quiet, but next week’s price action could be key to determining the mid-term future. Technical Analysis By: Edris The Daily Chart Looking at the daily chart, the price has been consolidating in a tight range between $19,500 and $20,500 over the past few days, showing little intent...

Bitcoin’s price is experiencing a mid-term consolidation phase. The price has dropped and now will be facing a significant level of support at $19K, and this level is the most critical support for the bulls to hold over the next short term. Technical Analysis By Shayan The Daily Chart After experiencing a particularly rough decline of approximately 10%, the price of BTC has entered a consolidation phase, consisting of choppy price action. The $19K support level has...

The Bitcoin bear market appears to be far from over as the price has dropped to the bulls’ last line of defense before another massive leg down. The short-term and even mid-term price action of Bitcoin could be determined in the next few days. Technical Analysis By: Edris The Daily Chart Looking at the daily chart, the recent downtrend was initiated after the price was rejected from the $24K static resistance level. Moreover, it was rejected from the 100-day moving average at...

Amidst the weekly candle close, Bitcoin’s situation continues to be bearish, following a considerable lack of demand in the market and the macro event. The price has recently plummeted towards the critical support level at $18K. Will the bears eventually break down the key level, or is bullish correction inbound? Technical Analysis By Shayan The Daily Chart The price of BTC has experienced another significant decline of roughly 8% in 24 hours after breaking below the 50-day...

Bitcoin’s price appears to be preparing for another bearish move after a lengthy period of consolidation between the $20K and $24K levels. With the current price action, a new low is not out of the picture. Technical Analysis By: Edris The Daily Chart Looking at the daily chart, the price has been consolidating at a very tight range over the last few days. This occurred after a rejection from the $24K level and the 100-day moving average. The price has also broken below the...

After a slight recovery towards the $24K level, the 100-day moving average has successfully rejected the price. The result was the breakout of the 50-day moving average. Since then, BTC has been dormant as uncertainty returns to the market. Technical Analysis By: Shayan The Daily Chart The most recent price action for Bitcoin is not reassuring and has formed a clear bearish continuation correction wedge pattern and has been rejected three times from the upper boundary....

The most recent outlook for Bitcoin is not overly promising, as the price has been rejected from a key technical resistance level and is breaking below support levels. The recent rebound from the $20K area appears to have been just another mid-bear market bull trap. Technical Analysis By: Edris The Daily Chart The price has been plummeting over the last few days after getting rejected from the $24K resistance level for the third time. The 100-day moving average, currently...

Bitcoin had seen a short-term uptrend, which acted as a correction to the longer term’s downside action, which lasted for the past months. However, this rally might have come to its end. Technical Analysis By Shayan The Daily Chart The 100-day moving average (roughly at $24K) has acted as a strong resistance zone and rejected the price action. The outcome was a massive breakdown from BTC’s prng low. A breakout from alow typically signals a bearish reversal as most of the sell...

Bitcoin’s relief rally from the $20K area seems to be coming to an end, as the $24K resistance level is rejecting the price once again. The 100-day moving average also acts as a resistance near the same level. Technical Analysis By Edris The Daily Chart: The 50-day moving average, which is currently located around the $22K level, could provide some support and initiate a rally above the $24K resistance level. In this case, a rapid rise towards the $30K supply zone would be...