Tag Archives: BTC Analysis

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...

Once again, BTC held support at the critical 200-day moving average of around $46k after shaking another round of weak hands. Although the near term charts look bearish, the overall trend in fundamental, technical, and on-chain data remain firmly bullish, indicating Bitcoin will likely head higher in the next few months. Chart by TradingViewBTC Falls While Strong Hands Continue to Buy Spot exchange reserves printed another multi-year low, further indicating strong...

After the nearly 20% plunge in BTC price, the cryptocurrency spent the next day consolidating and retesting the critical 200-day moving average at $46k. BTC managed to hold the level for the daily close, a positive signal. Near term, it is important to continue holding $46k, complete long liquidations, and start a recovery to reclaim $47.2, the bottom of the green zone. Strong Hands Holding Older Coins Did Not Sell Although BTC fell slightly the day after the major drop,...

$4 billion in liquidations wiped out the derivatives market, sending BTC lower by 19% at the intraday lows yesterday. Crypto Twitter went into panic, as exchanges were unresponsive, investors struggled to fill orders, and fears of a bear market began to spread. Days like yesterday make it easy to panic sell without thinking about what was actually happening. Although the charts looked horrible, on-chain data was flashing completely different signals, showing that long-term...

After 2 weeks of consolidation, Bitcoin managed to make a weekly close above the critical $50k level, marking another step forward in bull market continuation validation. This is now the fourth consecutive weekly close above the 21-week, 40-week, and 200-day moving average, 3 major levels that have been successfully reclaimed in order to re-enter bull market continuation validation. It is important for BTC to start establishing $50k as support this week, as the bulls start...

The battle for $50k continues as the bitcoin price is trading above and below the key level. On Friday, September 3rd, 2021, Bitcoin successfully made the first daily close above the $50k mark since May, a sign of strength for the bulls. Trading volume came in 36% above average on Coinbase, indicative of strong spot buying. In addition, BTC short liquidations came in below average, indicating the recent price rally was spot-driven rather than short covering. Chart by...