Tag Archives: BTC Analysis

Bitcoin (BTC) Bitcoin is up a small 1% this week after getting rejected trying to breach above the $50,000 mark on Monday. The current high since May now lies at $50,500. Unfortunately, BTC was unable to sustain this level and ended up closing the daily candle beneath $50K. Following the rejection, BTC headed sharply lower: Yesterday it fell back beneath $47,800, recording its weekly low amid $46.3k, however, the bitcoin price managed to close the day on top of the crucial...

Bitcoin managed to daily close back above $48.1k, but met with selling pressure throughout the day, hitting an intraday low of $46.3k, according to Bitstamp. Short-term technicals have turned cautiously bearish, especially with bearish divergence forming on the daily chart and Bitcoin failing to stay above $50k. The primary cryptocurrency remains in a tight spot as the price successfully reclaimed the 21-week and 200-day moving average recently, but is still in the validation...

The bitcoin price has shown impressive strength lately, outperforming global stock markets, despite a risk-off environment and a rising U.S. dollar. On Friday, BTC retested the local highs at $48.1k and managed to make a solid 4-hour close above resistance, leading to a robust daily close at $49.3k. Aggregate spot exchanges volume came in at $7.56 billion, above the 14-day average and the volume on risk-off days. For the past week, 4-hour bearish divergence and realized...

BTC made another attempt to reclaim the 200-day moving average but was met with selling pressure as global stocks fell again amid fear of the Federal Reserve tapering asset purchases. This may be a near-term headwind for the largest cryptocurrency, but the overall fundamentals, on-chain data, technicals, and momentum remain strong. Chart by TradingViewAs we covered last week, there has been a bearish divergence forming on the 4-hour and daily chart, a near-term warning of a...

BTC’s weekly close above the 21-week and 200-day moving averages flashed the largest technical buy signal since April 2020, marking a major step forward for potential bull market continuation. Although this is a very bullish signal for BTC, it is important to see follow-through higher in the weeks ahead to validate it. Chart by TradingViewThere has been a bearish divergence forming on the 4-hour and daily BTC chart for over a week, signaling near-term caution on the...

After a weekend with wild swings and liquidations, BTC bulls managed to push the price higher, making the first weekly close above the 21-week and 200-day moving average. Technical analysts consider this a major buy signal, as it has led to significant rallies for bitcoin. Chart by TradingViewThe last time this occurred was April 2020, right after the March COVID-19 crash that sent all risk assets plummeting. After reclaiming the 21-week and 200-day moving average, BTC...

Yesterday’s BTC price action shook traders throughout the day with rounds of short and long liquidations. Bitcoin’s price managed to hold the 200-day moving average at $45.3k as support, making an intra-day wick to $46k, and pushing higher into yesterday’s daily close at $47.1k Chart by TradingView So far, today’s price action appears similar to yesterday’s wild swings. It’s another low-volume pullback that liquidated longs. This time, BTC nearly touched critical support at...

Recent BTC price action intensified after BTC closed above the 200-day moving average line on the daily time-frame, but then closed back below this significant key level on Thursday. However, things turned bullish, as BTC price pulled back to near-term support, backtested the downtrend line at $43.8k, successfully held the support level, and then printed a bullish engulfing candle the next day to reclaim the 200-day moving average, starting the current weekend by trading on a...

The bearish divergence appearing on the BTC 4-hour chart for the past week managed to form a local top at $46.7k. BTC fell to a near-term low at $43.8k, finding support just above a key downtrend. Chart by TradingViewAs we reported earlier, the recent dip below the 200-day moving average puts BTC in a tight spot as it is important to see a strong weekly close above that level. Making a weekly close above it, alongside the 21-week moving average, will flash a very bullish...

After an initial rejection at the 200-day moving average, BTC staged another attempt to break out and managed to successfully make a daily close above the crucial line. The daily close at $46.2k above the 200MA and a key downtrend line can be seen as a very bullish technical buy signal. Chart by TradingViewIt is important for BTC to hold above this key level and follow through higher in the next few weeks to validate the buy signal. A daily close above the 200-day moving...