Tag Archives: BTC Analysis

BTC had an impressive run this week, managing to push above a key downtrend line and the September high at $52.9k. It managed to hit an intraweek high of $56.1k, digging deeper into the $55k to $58k zone of technical and on-chain resistance. The rally so far has shown profit-taking from much younger coins, while the older cohorts continue to steadily hold. Although many weak hands who bought BTC above $50k earlier this year panic sold during the May liquidation wipe out, we...

Bitcoin Bitcoin is up by an incredible 25.7% this week as the cryptocurrency surges beyond $55,000. The increase started at the beginning of October when it managed to break above a descending price channel and go above the 50-day MA. Since then, BTC surged higher during the week until it broke the September highs at $53,000 and met resistance at $55,400 on Wednesday. It did attempt to break above $55,400 today, reaching as high as $56,000 (1.414 Fib Extension) but is showing...

October has been exciting for the bulls as BTC continues to push above multiple major resistance levels. The first week of the month isn’t even complete, and BTC has already reached an intra-week high of $55.4K, just entering into the critical $55k to $58k zone of resistance. Since the higher low at $40.7k, Bitcoin managed to rally over 36% to today’s intraday highs. During the weeks of risk-off, Bitcoin managed to hold the deepest higher low at $40.7k, which we covered and...

September was a volatile month full of liquidation events, FUD, global risk-off, uncertainty over monetary policy, and a rising dollar. Yet, Bitcoin managed to hold the larger technical structure at $40k while maintaining the bullish trend in on-chain metrics. BTC has shown tremendous strength in the past week by closing back above the rising trend line at $44k, reclaiming $45.2k, the critical 200-day moving average, and printing a bullish engulfing candle. Bitcoin also...

Bitcoin has been outperforming global stocks even in a risk-off environment as investors have been waiting to see if support at $40k would hold. Today’s strong rally could be the beginning of the next leg up for the primary cryptocurrency after a month-long shake out full of liquidations and FUD, mainly from China. As we reported this week, the 4-hour chart began to show flattening of near-term moving averages, a sign of consolidation making progress, potentially setting up...

BTC continues to consolidate with multiple retests of the critical $40.7k higher low. Recent global risk-off added some selling pressure to BTC, but so far, it appears $40.7k is holding support with a solid push higher, reaching $42.3k at the time of writing. BTC continues to hold a larger technical structure as $40k has been established as significant support. Even with negative news, macro risk-off, and a rising dollar, Bitcoin has been showing resilience by holding $40.7k...

Just as Bitcoin rallied slightly above $45k on Friday, recycled news on China’s central bank vowing to ban crypto trading for Chinese citizens came out, liquidating more than $600 million of derivative positions at the time of writing. It is crucial to remember that large liquidations tend to cause cascades of forced sell orders, creating a near-term imbalance between supply and demand. In these events, supply overwhelms demand, and prices drop until the next large bid...

Global risk-off, uncertainty over Evergrande’s debt crisis, and large liquidations have been pressuring Bitcoin lately. The near-term chart may look bearish, but the fundamental and on-chain trend remain firmly bullish, making this pullback a potential buying opportunity. In just over two weeks, BTC fell from a high of $52.9k to a low of $39.5k, mainly driven by massive liquidations in derivatives and panic selling from younger coins. It’s easy to look at the chart with a...

After a week of global stocks selling off and BTC managing to hold quite well, the pressure continues as SPX futures dropped sharply as fear and uncertainty regarding Evergrande’s $300B debt crisis remain. Investors need to be cautious as the SPX has broken a higher time frame structure, likely leading to increased volatility in the coming weeks. This will likely impact volatility in BTC as risk assets are highly correlated. Chart by TradingViewTechnical Support Tested – Key...

BTC has been showing near-term signs of strength, especially after reclaiming the 200-moving average on the 4-hour chart and holding $47.2k, a key level of support. What’s notable is that Bitcoin managed to hold support despite global stocks selling off with the dollar rising. Near term, BTC has managed to reclaim the critical 200-day moving average, 21-day, the 21-day exponential moving average, and the 200-moving average on the 4-hour chart. This is quite impressive...