Tag Archives: BTC Analysis

Another Black Monday: Bitcoin dropped by a steep 9% after failing to overcome resistance at $34K – $35. As of writing these lines, the drop recorded a daily low at $31,130 earlier this morning, according to Bitstamp.This doesn’t happen for the first time – the primary cryptocurrency found support, provided by a short-term rising trend line that dated back to late-December 2020. Since then, BTC had seen a rebound back to the $32K price area, where it is trading as of writing these lines.So far...

Earlier today, Bitcoin price managed to rise by over $2,000 as it bounced from $32,800 to reach a daily high of around $34,900, according to BItstamp. However, as of writing these lines, BTC failed to hold and retraced down below the crucial support turned resistance level of $34,000.As of writing these lines, Bitcoin had failed to close the 4-hour candle above the resistance at a short term bearish .5 Fib Retracement of $34,450. As of now, it struggles to maintain the critical area of...

Over the past week, Bitcoin price lost approximately 10% of its value, following a drop from the $37K – $38K price area. This comes just two weeks after setting the current all-time high of $42,000 on January 8, 2021.Over the past days, the primary cryptocurrency found support, once again, around the $30K horizontal line. Looking at the bigger picture, the $30,000 had now formed the baseline of a bearish triangle that Bitcoin is currently trading within and can be seen on the following daily...

Bitcoin suffered a severe 15% decline in the past 24 hours, which saw the cryptocurrency dropping by $7,000 to reach below $29K. In doing so, it fell beneath the previous symmetrical triangle we were tracking and landed at the lower border of a long-termed bearish triangle.More specifically, Bitcoin managed to find support at the $30,760 support we highlighted yesterday, provided by a short term .786 Fib Retracement level. However, BTC did spike beneath this, reaching as low as $28,800 today,...

Today has been a rough day for Bitcoin bulls. The price dropped by a sharp 10% today, over $4K, over the past hours. This comes just one day after the primary cryptocurrency reached $38K. In conclusion – we saw a 2-day nightmare of almost $7000 loss in value.What leveraged the collapse was the horizontal triangle’s breakdown, as mentioned here in our most recent BTC analysis from yesterday. As can be seen on the daily chart below, once the triangle was broken along with horizontal support of...

Bitcoin saw a sharp 8% price plummet over the past 24 hours as it lost almost $4K from its value in just one day. As of writing these lines, Bitcoin found support around $34,000, which is also the lower boundary of the symmetrical triangle pattern we mentioned here yesterday.BTC has been trading within this pattern since reaching the current ATH at $42,000 on January 8, 2020. Since then, we saw triangle consolidation for the past 12 days.It tried to push higher at the start of the week after...

While the crypto market is celebrating a new all-time high to the second-largest crypto, Ethereum, Bitcoin saw a minor 3% price spike over the past 24 hours as it trades slightly below $38K. On a larger scale, BTC has been trading sideways for the past 12 days after nailing its ATH level at $42,000 On January 8, 2020.From there, Bitcoin started to consolidate as it forms a giant symmetrical triangle pattern, as can be seen on the following 4-hour chart. Over the weekend, Bitcoin fell from the...

Another volatile weekend: the Bitcoin price is down by 7% over the past 24 hours after losing critical support at $36,000. Only three days ago, the cryptocurrency pushed over $40K but failed to close above the benchmark level.After failing at $40K, BTC started losing altitude on Friday as it broke beneath a short term rising price channel. It then dropped into support at $34,800 (short term .5 Fib Retracement) and rebounded sharply, but couldn’t overcome resistance at $38K ($37,940, bearish...

This week has been particularly volatile. Bitcoin went on a massive correction, jumped back to $40K, and dropped again just a few hours ago. The majority of the altcoins followed. Polkadot (DOT), however, went on an impressive rally as can be seen in the below ROI chart for the coins we’ve selected this week.BitcoinBitcoin is down by a concerning 13.8% over the past week as it currently trades beneath $36,000. The downturn for Bitcoin started on Monday when it dropped by a steep 25% to reach...

The bulls are back in town with a solid 15% daily price surge, as BTC reclaims the $40K price area. Only two days ago, after reaching $42K ATH, the primary cryptocurrency dropped by a steep 30% to find support upon the $30K level.The correction was even quicker than the drop as BTC had gained $5,000 only yesterday and closed the daily candle at $37,415 (Bitstamp). Today, Bitcoin’s price continued even higher, recording $40,122 as the daily high as of writing these lines.Bitcoin has initiated...