Tag Archives: BTC Analysis

Bitcoin price is tracking inside a pennant pattern right now as candle wicks pinch between two trend lines (yellow). This is a classic bullish continuation pattern and usually results in a strong breakout once the asset reaches maximum consolidation.According to new figures from Skew, the statistical likelihood of Bitcoin’s price ending the year higher than $20,000 – it’s current all-time high – now stands above 25%.Despite this optimism, however, short-term volatility has slackened right off...

Bitcoin price has erupted through the psychological $17,000 level today. It is now breaking through the first high set way back in January 2018, after the primary cryptocurrency crashed from its all-time high level of nearly $20K. This is the first time Bitcoin has been above the $17,200 mark in 1,066 days. Over the last 40 hours, $32 billion has flooded back into the crypto markets – according to data by CoinGecko. It’s been speculated that one of the main catalysts for this...

Bitcoin’s price is now back on the key S/R zone (top green bar) between $15,900 and $15,860, as low weekend trading volume puts the brakes on bullish momentum. Since setting a new high of $16,475 on November 13, the leading crypto has printed 4 consecutive lower highs over the 4-hour time frame and is now tracking in a downtrending channel (blue channel). Global Crypto Market Capital chart by CoinmarketcapThe global crypto market capital has also broken away from its...

Bitcoin bulls have returned with force today and propelled the top crypto to a new high of $16,177 – a price not seen since 2017! The global crypto market briefly rose back above $460 billion during the surge as $12 billion flooded back into the space. Despite strong selling pressure at this new level, optimism is high from other industry-leading traders that Bitcoin has officially entered a new macro-cycle. According to the creator of the popular Bitcoin Stock-to-Flow model,...

Bitcoin is currently resting along the support of what appears to be an early ascending triangle. Although this pattern is typically a bullish continuation formation, there are 3 concerning factors that suggest BTC prices are about to tumble. (1) There’s substantial divergence on the 4-hour RSI that indicates the current trend is particularly weak (yellow line on indicator). (2) Prices are now pushing sideways after yesterday’s failed attempt to close above the former close...

Bitcoin bulls have managed to regain some of the lost ground from the heavy 10% correction that took place between Friday and Saturday, November 6-7. The crash coincided with BTC failing to break above the psychological $16,000 – a level not seen January 8, 2018 – and the heated 2020 US Presidential election drawing to a close. Looking at the following 4-hour chart, we can see that a very subtle divergence on the RSI (red lines) showed the surging uptrend was weakening and...

Bitcoin Bitcoin saw an extraordinary 15.3% price surge this week which allowed the cryptocurrency to scratch the $16,000 level today. It has since dropped slightly to $15,500 but is still very much bullish. BTC started the week at $13,200. From there it headed higher into the $13,800 resistance but stalled at the weekend. As the election started in the US, BTC started to surge. Initially, it found resistance at $14,190 but this was penetrated yesterday as Bitcoin surged all...

Bitcoin price continues to break new grounds today as bulls prepare to take on the $14,900 resistance. Since the bottom of the brief dip yesterday at 08:00 UTC, $24 billion has been added to the market with most of it being piled into BTC. Bitcoin dominance has now broken over 65.0% for the first time since June, which shows there’s currently little interest in altcoins at this moment in time. Even some of the typically strong performing DeFi tokens such as Yearn.finance...

After breaking June 2019’s 15-month high just four days ago, Bitcoin is getting closer to the hot zone once again, seeking a new high since January 2018. As of writing these lines, the first U.S. elections results are incoming shortly, and so far, Bitcoin is repeating its behavior from four years ago – surging 3% over the past 24 hours. Currently, Bitcoin is trading around the $14K mark, after increasing over $400 in the past two hours alone. Same Set-up As Of Elections...

Bitcoin bulls have managed to regain the $13.4K support today after prices crashed 3.7% in 4 hours. Uncertainty in the stock markets and the upcoming US presidential elections could have played a role in today’s crypto market activity, as larger traders tend to withdraw into more stable assets ahead of significant global events. $12 billion has exited the markets during the latest sell-off along with a $14 million long squeeze. Price Levels to Watch in the Short-term On the...