Tag Archives: BTC Analysis

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...

After Bitcoin price recorded an all-time high last Friday at $42K, the primary cryptocurrency finally went down for the anticipated correction following the enormous 3-month rally.BTC price soared from $10,500 to $42,000 without going through any significant correction. During the previous parabolic bull-run of 2017, there were several corrections of 30% on average.The correction, which started on Sunday, saw a two-day plunge starting from the $41K level down to $30K at its lowest. Yesterday,...

Bitcoin dropped by almost $11,000 over the past 48 hours as it fell by 25% to reach yesterday’s low at $30,300. After the huge drop, which can also be seen as another Black Monday, the bulls found support at a rising trend line that extends back to the December lows.Since this support was reached at the closing time for yesterday’s candle, Bitcoin had already recovered over 15% from its low, allowing it to close Monday at $35,455.Today, BTC tried to push higher but faced strong resistance...

The price of Bitcoin took a tumble today after dropping by almost 25% in the past 24-hours alone, and almost 30% from the ATH that was set last Friday at $42K.Over the past 14 hours, Bitcoin dropped by a total of $7,400 after following a breakdown of the marked descending triangle (4-hour chart), which has been predicted in our yesterday’s analysis. Bitcoin dropped severely to $30,700 as the current low, according to Bitsamp.Typically, this type of pullback is necessary after the parabolic...

After setting the current all-time high level at $42,000, according to Bitstamp, Bitcoin price saw a retracement to the $38K – $39K area followed by a quick recovery back above $40K over the weekend.However, despite reaching $41K earlier today, Bitcoin had plunged to a current low of $38,555 (Bitstamp) before recovering slightly to where it is trading right now – $39,500.Looking at the bigger picture and as shown on the following 4-hour chart, Bitcoin had broken below the rising channel and...