Tag Archives: BTC Analysis

Choppy price action and indecisiveness – this is how we can summarize the past couple of days on the cryptocurrency market. In our last BTC price analysis, we examined if whether or not $69K was the cycle’s top following the vicious corrections, and now, we take a closer look into how the market is developing from a technical and on-chain perspective. Options Market Analysis This Friday, December 10, about $946 million worth of bitcoin options contracts will expire in...

Options Market Analysis 25 Delta Skew and Volatility Analysis On December 4th, the bitcoin price dropped about $16k. Options traders have set different hedging strategies like buying lots of puts at $50k & $52k strike prices during the last weeks for the possible downside. To find out what happened in the options market, It’s better to look at 25 delta Skew. This is a way of measuring the volatility skew. For example, for one month, it can be computed using the following...

Bitcoin’s price action continues to be shaky in the short term, but that might largely be attributed to headwinds caused by the newfound COVID variant. Despite the recent bearishness, the on-chain metrics and the mid-to-long-term technicals continue to favor extended bull market and show no real signs of worry. This analysis was compiled by analysts GrizzlyBTClover and CryptoVizArt to CryptoPotato. Mid-Term Technical Analysis Bitcoin is moving up inside the uptrend channel on...

Bitcoin’s price over the last few days has been particularly volatile. Just yesterday, BTC surged towards $59K but failed to breach this important resistance level. Subsequently, it dropped towards the significant $56K mark, but bulls were quick to defend it and are pushing towards $59K once again. The Technicals Bitcoin is quickly approaching the key resistance at $59-60K, as of writing this update. A break above it can lead to a renewed rally back to the $60K territory....

After a wild week of volatile price swings, BTC managed to hold the key support at $57.1K, closing the weekly candle at $57.3K. Bulls pushed the price higher, heading into the weekly close, and manage to liquidate a lot of short positions. For the near term, it’s still too early to confirm a bottom as we have to see how stocks trade this week. Chart by TradingViewThe Technicals Long-term technicals remain bullish as BTC continues to make higher highs and higher lows. For the...

Just as Bitcoin started showing early positive developments of recovery, fear of a new variant of COVID-19 sent global stocks sharply lower, causing the crypto market to decline. Although the near-term price action looks bearish, the overall trend in fundamental and on-chain continues to remain strong, suggesting the bull market is likely to continue. Bitcoin has tested a critical uptrend support line around $54K, entering a very crucial technical zone of support. Chart by...

The technical indicators are showing potential signs of a bottom at $55.4K. Bitcoin’s price has built a base of support in the mid $50K area recently, with bullish divergence forming on the 4-hour RSI. It appears that bulls have stepped in and protected $56.2K, which is a technical level of support. The overall trend in on-chain metrics continues to remain bullish despite the recent volatility. The Technicals The longer-term trend and structure remain bullish despite the...

Bitcoin’s price has failed to recover and seems to be struggling below the $60K mark. As of now, BTC has lost 7% over the last week, trading in the range of $55-56K, failing to reclaim the 50-day moving average line. Chart by TradingViewThe Technicals Bitcoin’s price painted a lower low yesterday. Today, it continues to decline and taps the critical support zone between $53K and $58K – something we’ve been tracking in our previous analysis. The $53K level provides very strong...

Roughly around two days ago, bitcoin’s price dipped to an intraday low of $55,640 (on Bitstamp), causing moderate turmoil within the community and raising the question of how far the correction will go. As we reported back then, one of the key levels to consider is the zone between $58.3K and $53K as it contains very strong support in terms of both technical and on-chain indicators. Now, prominent Bitcoin analyst Daniel Joe noted on Twitter that the cryptocurrency dipped into...

Bitcoin’s price dipped to an intraday low of $55,640 (on Bitstamp) and is currently down around 3.5% on the day and 11.8% on the week. The entire market seems to be struggling, with an exception of cryptocurrencies associated with Play-to-Earn games and metaverse-related projects. Bitcoin managed to recover to about $57K, where it’s currently trading as the market is looking for the next direction. Chart by TradingViewThe overall trend in fundamentals and on-chain remains...