Tag Archives: BTC Analysis

Bitcoin continues its effort to break above the $24K resistance level, despite being constantly rejected by it in recent weeks. Will the bulls eventually manage to break it, or will the bears get the upper hand? Technical Analysis By: Edris The Daily Chart The price is technically in an uptrend as it has been forming higher highs and lows, but the $24K level is proving to be a very strong obstacle. The 100-day moving average has reached the same zone as well. It has been...

After getting rejected from the $24K sentimental resistance area three times, the Bitcoin price finally broke the threshold, forming higher highs and lows on the daily chart. Can buyers expect to see the $27K level reached next? Technical Analysis By Shayan The Daily Chart The weekly candle is closing tonight (Sunday’s midnight UTC), and if Bitcoin successfully closes above the $24K level, a rally toward the $27K region will be likely. However, the 100-day moving average – a...

Bitcoin continues its struggle to push and hold above $24K, as it has been rejected from this significant level for the third time. The price rebounded from the $20K support level last month and has been making higher highs and lows on the daily chart. This resulted in the creation of a bullish structure. Can the cryptocurrency finally break through its goal of the $24K resistance level? Technical Analysis By: Edris The Daily Chart As of this writing, Bitcoin has yet to break...

The past couple of days have been very exciting for the entire cryptocurrency industry and Bitcoin is no exception. BTC soared towards $24K today on news of slowing down inflation in the US. The question is if this will be enough for the critical resistance level to finally fall. Technical Analysis By: Shayan The Daily Chart The 100-day moving average is one of the most crucial levels for Bitcoin; it can be interpreted as a resistance or support line. This is dependent on...

After a few weeks of consolidation, Bitcoin was unable to increase and eventually broke to the downside. This resulted in a considerable liquidation cascade and a drop below the critical support level of $30K. Technical Analysis Technical Analysis Shayan The Daily Chart The market has now tapped the resting liquidity below the significant demand zone around $30K, but there are no signs of a reversal yet. Furthermore, the next support level for Bitcoin is $24K-$25K. The RSI...

After consolidating above the $37K decisive level for a few weeks, Bitcoin was eventually rejected after another attempt at $40K and plunged below the key support following tremendous bearish momentum. BTC futures market has seen a massive long liquidation due to the recent bearish leg. Technical Analysis Technical Analysis By Shayan The Daily Chart Many retail investors have been buying Bitcoin around the $37K range, resulting in a lot of liquidity (sell stops) below the...

Bitcoin has broken the $37K support to the downside as the price crashed more than 10% yesterday. This could trigger a bearish scenario towards the $30K demand zone. Technical Analysis By: Edris Daily Chart:  Considering the current market structure, the 100-day and 50-day moving averages seem likely to chart a bearish cross in the next few days, further aggravating the selling pressure. On the other hand, if the price can close above the $37K level soon, the bearish...

Bitcoin’s RSI has been rejected from a significant long-term trendline three times. When the RSI hit the mentioned trendline, the price plummeted sharply and was rejected. To provide prospects of positive development in terms of price, the trendline needs to get broken. Technical Analysis By Shayan The Daily Chart The $37K threshold has become a significant support level for Bitcoin, acting as a substantial hurdle for bears. If this level fails to hold, the price will likely...

Bitcoin has slowly declined over the past few days. The price got rejected at the 100-day moving average line twice last week, and now the 100-day and 50-day moving average lines turned into heavy resistance levels. In addition, the $40k level is also acting as a significant static resistance level, and the price has been trading below it for most of the time over the past week. Technical Analysis Technical Analysis By: Edris The Daily Chart The recent trajectory of lower...

Last week, the 50-day and 100-day moving average lines went through a bullish crossover; however, Bitcoin failed to continue the bullish momentum and experienced a price shakeout. Later in the week, the price recovered and made another attempt to break above the moving average lines, but quickly rejected and plummeted below the $40K mark. Technical Analysis Technical Analysis By Shayan The Daily Chart The next major support for BTC lies in the $36K-$37K region, if this level...