Tag Archives: BTC Analysis

BTC started the week with a 7% pullback, a jump in BTC Bitfinex Shorts, and uncertainty over Grayscale’s GBTC unlock. On-chain analysis detected Net Exchange Inflows and increasing Bitfinex Shorts before BTC started its latest price dump, as can be seen on the following charts: BitFinex shorts accumulating before the recent BTC crash Netflows of BTC. Daily chart by CryptoQuantHowever, the good news for the bulls is that there are signs of large investors stepping in and...

BTC is down by a minor 1.5% today as it struggles to maintain support area amid $33K. It is trading within a narrow range between $36,000 and $32,000 during the first half of July, and all signs point to an upcoming huge move. The volume for July has remained painfully low, especially during the last two weekends, which saw the two lowest volume days. This, combined with the drawn-out consolidation period, has many traders waiting for a huge move ahead, which would dictate...

Amidst another low-volume weekend, there are many signs that the bitcoin price is anticipating a huge move, probably over the next few days or even before. Looking at the bigger picture, BTC had been trading between $30K and $42K since the May-19 crash, and between $30K and $35K since June-19. Overall, BTC faces a decision point ‘flirting’ with a significant descending trend line that dates back to mid-May, the last time BTC was trading above $50K. Looking at a more...

BTC lost 6% of its value today as it fell through the lower angle of a short-term symmetrical triangle pattern. As mentioned here yesterday, a huge price move was anticipated due to the decreasing amounts of trading volume, along with reaching the apex of a symmetrical triangle. Indeed, the move came, and the bearish breakout saw BTC dropping almost $3000 since yesterday’s high, around $35K. Today’s level set a fresh low for July 2021, and it is also the lowest price bitcoin...

BTC continues the drawn-out phase of consolidation as it trades sideways inside a short-term symmetrical triangle pattern. It looks as BTC awaits the next huge move as the apex of the triangle draws near – in a matter of days or even hours, and the trading volume decreases, which typically happens before a massive move. Quick recap: Bitcoin tested the upper boundary of the symmetrical triangle earlier in the week but failed to surpass $35,600 – $36K. From there, it headed...

Bitcoin price is up a robust 8.5% from the July low of $32,700, recorded both on Thursday and Friday. The coin surged over $3K over the past two days, breaking above the 20-day moving average line at $34.9K, and is now facing a combination of significant resistance on the daily timeframe. The major resistance is provided by a falling trend-line that dates back to mid-May when Bitcoin was trading above $50K. This line forms the upper angle of a potential descending triangle...

Unfortunately, we had another week of particularly choppy price action where most of the cryptocurrencies are trading in the red. Ethereum is an exception with a rather insignificant gain over the past seven days. Bitcoin Bitcoin is down a total of 4.7% over the past week as it breaks back beneath $33,000. The cryptocurrency started the week looking promising after double bottoming around $31,600. From there, it started to surge higher as it formed a short-term rising price...

Just as bitcoin started to show some promising signs for the bulls, it rolled over and fell by 5% today, hitting $33,000 – the low as of writing these lines. The primary cryptocurrency looked hopeful as it traded inside a short-term rising price channel since double-bottoming at $31.5K over the weekend. The price channel allowed BTC to hit a 12-day high at $36.6K on Tuesday, but the volume was not increasing and BTC reversed after failing to close a daily candle above the...

In the middle of another volatile weekend for Bitcoin, the primary cryptocurrency is up by 11% from the $30K low that was recorded yesterday, and is now facing resistance above $33K. On Friday, bitcoin saw a sharp drop from the $35k price area until finding support at $30k on Saturday. Looking at the following short-term 4-hour’s chart, this was the fifth time the $30K price range ‘saved’ bitcoin since May-19. The Daily Chart: Bullish Double Bottom? As mentioned in our most...

Over the past month, since the May-19 price collapse, BTC had been trading inside a range between $30K from below and $42K from above. Last Tuesday, Bitcoin broke below the range, and for the first time since January 2021, traded beneath $30K. This lasted only for two hours before bulls stepped in for a heavy bounce, which spiked the price over $5k in a matter of a few hours. So, in conclusion, Bitcoin went up a total of 18% since hitting the 5-month low of $28,600 on...