Tag Archives: BTC Analysis

Bitcoin is down by a sharp 3% over the past 24 hours. The cryptocurrency bounced from $31,185 (downside 1.618 Fib Extension) last week but failed to overcome resistance at $40,765 (bearish .382 Fib & 200-day MA). From there, BTC headed lower into the weekend but sustained support at $34,760 after spiking as low as $33,520. The daily chart looks pretty choppy, but the short-term 4-hour chart provides a clear symmetrical triangle pattern forming. Yesterday, BTC bounced from...

Bitcoin is now up 25% from Sunday’s low of $31,100 as it is attempting to reach the $40K resistance level once again. Quick recap: following last Wednesday’s liquidation drop to $30K, the primary cryptocurrency recovered to $42K, just to plunge once again to $31,100 on Sunday, but again – it quickly managed to recover. At the end of Sunday, it closed above $34,760 (downside 1.414 Fib Extension). Since then, BTC managed to break above a descending price channel, as shown on...

After an impressive rebound following the retest of the $30K area on Sunday, bitcoin reached $40K earlier today. However, over the past hours, the primary cryptocurrency is losing momentum. The question is whether this huge $10K recovery will turn into a “dead-cat bounce,” or bitcoin will able to penetrate through the heavy resistance zone of $40-42K? The good news is that, as of now, bitcoin’s price is still up by a total of 18% from Sunday’s low. Quick recap: The primary...

Bitcoin is up by an impressive 18% since yesterday’s low at $31,100. It fell beneath the $36,750 (.786 Fib) support yesterday and ended up closing the candle at $34,760 (downside 1.414 Fib Extension) after dipping as low as $31,100 in the session. The session turned to be one of the worst days bitcoin had seen dollarwise. Today, following the huge rebound, BTC is attempting to recover and break back above the $36,750 – $37K level, once again. This pattern could justify a...

Bitcoin is ending today (Sunday) a second bloody week, which could probably turn into the worst-ever week for the primary cryptocurrency if we measure it dollar-wise. On May 10, just 13 days ago, the price was trading at nearly $60K. This week’s low from Wednesday lies slightly above $30K, according to Bitstamp. A 50% decrease in 13 days, and 54% below the ATH level of around $65K  recorded on April 14. $16K weekly candle. BTC/USD weekly chart, Source: TradingView As...

The past seven days were particularly volatile and, unfortunately for many, bears had the upper hand. Bitcoin dropped to a price not seen since January, while the rest of the market followed. Bitcoin Bitcoin is down another 18.5% this week as it trades near $40,900. The cryptocurrency is now down by a total of around 35% from the $64,895 all-time high set in April. BTC saw an extremely volatile week in which prices dropped as low as $30,000 on Wednesday – hitting levels not...

Bitcoin saw another sharp 17% price drop today, causing the cryptocurrency to spike as low as $36,250 as of writing these lines. In total, the coin has now dropped by over 30% in a matter of days, and 40% below the current all-time high at around $65k. The first signal for the bitcoin downturn was the break beneath the rising trend line at the beginning of the past week when BTC fell beneath the $50,000 psychological support. From there, the coin continued to drop to find...

Bitcoin is down another 7.5% today as the cryptocurrency slides into the $45,000 region. The total weekly price decrease now exceeded 20%. The good news? Bitcoin was able to recover after hitting as low as $42K earlier today. An overview of May: Last week, bitcoin fell beneath a rising wedge formation after Tesla revealed they had stopped receiving BTC payments for their cars. The news caused a significant sell-off in which BTC dropped as low as $47,000, where it found...

Bitcoin is down by a total of 17% since last Sunday as the primary cryptocurrency struggles to regain ground above the $50,000 milestone. Most of the downside action took place on Wednesday, after Tesla announced they halted to accept BTC as a payment method for their electric vehicles. The news sent BTC tumbling as it slipped to an 11-week low at $45,700, according to Bitstamp. The bulls attempted to rebound on Thursday and Friday as they battled to break back above $50,000....

Despite the recent market-wide crash, Ethereum continues to lead amid the large-cap cryptocurrencies. Today, we take a closer look into the following cryptos: Bitcoin Bitcoin is down by a total of 10% this week as it saw turbulence over the past two days with Telsa removing BTC payments for its vehicles. The cryptocurrency failed to break a falling resistance trend line at around $59,000 at the start of the week and started to head lower from there. On Wednesday, the...