Tag Archives: BTC Analysis

The global crypto market has risen another $30 billion today, which has helped lift Bitcoin out of yesterday’s bearish descending triangle and onwards towards a new all-time high at $28,800.Despite the increase in investment entering the market over the last 24 hours, the overall trading volume has actually declined by $10 billion.This, coupled with the fact that there is a substantial RSI divergence on the Bitcoin price chart right now, suggests that the current bullish trend is weakening...

Bitcoin price has fallen under the psychological $27,000 level today and is now tracking inside a descending triangle pattern on the 4-hour chart.These patterns form when the price consolidates between a sloping resistance and flat support (yellow lines). It’s usually a signal that bearish momentum is increasing and that the flat support will be overcome soon.Breakouts from this pattern tend to be quite extensive and require strong supports to provide bullish traders with an opportunity to...

Bitcoin is starting to correct from its rampant rise above $28K this week, with the current price down $1,900 from its recent peak of $28,420. With the Bitcoin market capital currently above $520 billion and overall dominance now above 71%, a correction has been on the cards for a number of days now.$55 million worth of BitMEX short positions have already been liquidated in the last few minutes, as fears of a reversal begin to disseminate.The $27,000 level appears to be providing some...

As the world is celebrating Christmas, the primary cryptocurrency has its own private celebration.Two days ago, following Ripple’s SEC lawsuit, it seemed like Bitcoin would rather be testing its prior resistance turned support at $20K before continuing higher. Yesterday’s low was $22,700.However, Bitcoin has its own plans. The BTC price had increased $2,000 over the past two days, surpassing the previous all-time high from last Sunday set at $24,370 (Bitstamp). As of writing these lines,...

Bitcoin bulls need to make sure the daily price closes above $23,850 today, or else a double top will form on the BTC/USD chart (see below).Double tops are bearish reversal setups that tend to result in strong downtrends. They form when an asset fails to breach the same resistance level twice in a short period of time. The second rejection signals to the market that bullish momentum has run out and that a shift in trend is about to occur.There’s also an obvious RSI divergence (yellow line)...

Bitcoin price has finally started to correct from its parabolic rally to new all-time highs. During the European trading session today, we saw the first hourly candle close beneath the support of the bearish rising wedge pattern (yellow lines), around 09:00 UTC.Rising wedges are classic bearish reversal patterns and typically result in strong corrections. This morning’s breakout signaled to the rest of the market that BTC was about to dive sharply and within minutes of the new candle...

Yesterday, bitcoin’s price set another all-time high, this time at $24,200 (Bitstamp). Nine days ago, the daily low was $17,565. Since hitting that level, the primary cryptocurrency had gone through a fantastic journey of eight consecutive daily green candles.This is the longest period of consecutive daily green candles since June 2019’s bull run (8 candles). If today’s candle will close above $23,840, though a green candle, this will become the longest period since October 2013.Back then,...

Bitcoin’s price has left everyone in shock today. Not only has the leading crypto broken the psychological $20,000 mark in the last 24 hours, but also the $21K, $22K, and $23K levels in rapid succession too.Over $71 billion has entered the global crypto market during this historical movement, pushing the weekly increase in worldwide crypto investment up to $119 billion.The dramatic surge in price has wiped out over 474 short positions on BitMEX worth a combined $131.4 million. This will have...

Bitcoin price has just surged by $1,300 in the last few hours, taking it $780 beyond the previous all-time high of $19,990. This is the highest price Bitcoin has ever been across all exchange platforms and has happened just as the American trading session got underway.In the last analysis, we predicted that the prior drop in volatility could have been a sign of an early accumulation before a new big move, and it turns out this was exactly what was happening.$24 billion has flooded into the...

Bitcoin price has been oscillating within a narrow $450 range for the past 3 days now as bulls struggle to break over the 0.5 Fibonacci Extension level at $19,480. This area between $19,044 and $19,480 is the same spot that BTC was stuck inside of during December 5 – 8, right before prices tanked by $1,560.According to Bitcoin’s volatility chart (BVOL24H), the leading crypto has fallen by almost 43% since December 9th, and the global crypto market capital has also started pushing sideways....