Tag Archives: BTC Analysis

This week was quite exciting in the cryptocurrency market as a lot of the major coins managed to recover. Unfortunately, this wasn’t the case for all of them, so let’s have a look at some of the most interesting performers throughout the past seven days.BitcoinBitcoin is up by a powerful 15.8% over the past week as the cryptocurrency edges near the ATH price again. It started the week by rebounding from support at $47,200 (.382 Fib) and began to push higher over the weekend.The coin broke...

Bitcoin is up by a solid 12.5% over the past week of trading as it reached $57,400 as of today’s high. This is just about $1000 from the ATH recorded on February 21, 2021.A quick recap: Bitcoin was trading inside an ascending price channel throughout February until it hit the ATH price of $58,355 (Feb-21). From there, it headed lower sharply as the price collapsed beneath the price channel and fell into the support zone around $43-44K by the end of the past month.During the first days of...

Bitcoin saw a 7.5% price increase today as the cryptocurrency raised by a total of $1,640 to climb back above $54,000, for the first time since February 22.Looking at the past trading days, BTC had bounced from support at $47,200 (.382 Fib) over the weekend as it closed the daily candles above the critical 20-day EMA. On Sunday, it managed to break above $50,000 once again, which allowed it to push higher and close yesterday’s candle at $52,480 (bearish .618 Fib Retracement and crucial...

Bitcoin price is up by another 6% today, as the cryptocurrency finally reclaims $50,000. Earlier today the cryptocurrency reached over $51,300 (Bitstamp), but quickly retraced from there down to the $50K area. So far, this reflects a 2-day price gain of over $4000 since Friday’s low of $46,400.Quick recap: Bitcoin price started to scale at the beginning of March but couldn’t overcome the resistance around $52,500 at the Golden Ratio (bearish .618 Fib) earlier this week. From there, it started...

Bitcoin price dropped by over 6% today, losing over $5K from its value since the high reached just yesterday at $52,500.Quick recap: BTC had found solid support at the $43K – $44K area during the start of the week following a sharp decline from the ATH level of $58,000 reached just the week before. Bitcoin had penetrated beneath the lower boundary of an ascending price channel during that drop, showing the first sign of weakness as the bullish month of February 2021 ended.At the beginning of...

Bitcoin is up by a solid 6% today as the primary cryptocurrency surged by over $3000 over the past 24 hours.Quick recap: bitcoin is recovering after a heavy correction over the past week, in which the cryptocurrency dropped by around 25% as it broke beneath the February ascending price channel (as shown on the daily chart below) and tumbled into the support around $43K – $44K.It managed to rebound nicely from there, breaking above a falling wedge, as we mentioned on Monday. After touching...

Bitcoin saw a strong rebound today as it recovered from yesterday’s low at $43,000 to over $48K, where it is trading as of writing these lines.The cryptocurrency had been in a downtrend for the previous week as it dropped by over 25% to reach its weekly low yesterday, at the mentioned-above level of $43K (according to Bitstamp).During the correction, Bitcoin had broken beneath an ascending price channel that it was trading within throughout February. However, over the past days, BTC was...

Bitcoin seems to be going from bad to worse, with another 7% price drop today.BTC decreased by a total of $3,300 today as it dropped below $47,750 and also beneath the important support at $44k.The cryptocurrency continued to spike downward, reaching as low as $43,000 before a slight rebound, as of now.Looking at the short-term 4-hour charts, Bitcoin dropped off the support at the 200 EMA today as it broke beneath $44,750.However, there might be some hope for the bulls. BTC might be forming a...

Bitcoin’s rollercoaster continues today after the primary cryptocurrency fell by $6,240, around 12%, from yesterday’s highs of $52,080. BTC had dipped further this morning but managed to rebound from the support at $44,750 (4-hr 50 MA) and is now trading around $47,000.Yesterday, the coin was looking promising as it attempted to break above a short-term symmetrical triangle pattern. Unfortunately, this proved to be a false breakout, and Bitcoin stalled and reversed at $52,000.Looking at the...

The recent days were rough for Bitcoin after it dropped from the record high at $58,000 on Sunday by almost 25% just two days later. As of now, BTC bottomed at $44,750 on Tuesday and bounced back steadily to the $50K region. But, was that the ultimate short-term bottom after the 2-day bloodbath earlier this week?Looking from a longer-term perspective, BTC managed to close the daily candles inside the ascending price channel that it has been following for the entire period of February. The...