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Tag Archives: BTC Analysis

Bitcoin Price Analysis: BTC Soars $600 In Just a Few Hours, Are The Bulls Back?

Yesterday we analyzed the current situation of BTC’s price. On the 4-hour chart, the symmetrical triangle pattern was about to break-down once reaching the lower ascending trend-line. However, Bitcoin held the support line nicely and since then, surged $600 in just a few hours.The triangle formation indeed broke-out but in favor of the bulls. As of writing these lines, the coin had reached our mentioned resistance area of $6800 – $6900, and it’s now trading steadily above the $6600 resistance...

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Bitcoin Price Analysis: Will The Crucial Resistance Save Bitcoin Before Price Plunge To $5,000?

Over the past two days, we saw Bitcoin losing momentum following the global markets. After reaching the $6600 resistance, Bitcoin price failed to break the symmetrical triangle as can be seen on the following 4-hour chart.From there, Bitcoin found temporary support upon the $6400 boundary, before continuing the 3-day plunge to the lower angle of the triangle. As of writing these lines, the lower ascending trend-line holds. The critical support lies around $6130 (Bitstamp), which is also the...

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Bitcoin Price Analysis: After Wild Weekend Action, BTC Is Back Facing Same Critical Resistance – What’s Next?

Bitcoin price had a wild weekend: After losing the $6,000 support, Bitcoin plunged onto the next mentioned support level, and since then, saw a decent come-back to the price area the plunge started from. To conclude this, it was a wild ride going back to the same destination.Following our most recent price analysis, we mentioned that ‘new lows’ below $6K are coming up soon. This weekend saw BTC recording $5850 as the current new weekly low, and it’s not a coincidence.The $5900 area holds...

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Bitcoin Price Analysis: BTC Takes a 10% Deep-Dive To $6,000, New Lows Coming Soon?

After three days of dull price action inside a $200 range ($6600 – $6800), Bitcoin saw a huge plunge back to the $6000 area, more than 10% were lost in a matter of hours.If you followed us here, we mentioned reasons why Bitcoin was looking more bearish than bullish, and we also stated that once a breakdown takes place, it will hurt.These reasons include the double-top bearish formation, the symmetrical triangle on the 4-hour chart, the declining trading volume, and most importantly, the daily...

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Bitcoin Price Analysis: Double-Top Could Send BTC Below $6,000 Very Soon?

Over the past day, we saw the Bitcoin price trading inside the tight range between $6600 and $6800. A few hours ago, Bitcoin finally seemed to break successfully to the upside touching $7000; however, the primary cryptocurrency got rejected very quickly, plunging $400 immediately back inside the described trading range.Over the past weeks, we had mentioned the correlation between Bitcoin and the global markets. This correlation disappeared at some point, but as of writing these lines and over...

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Bitcoin Price Analysis: Despite The Crashing Markets, BTC Surging 12% Facing Huge Resistance. What’s Now?

Two days ago, while Bitcoin was consolidating around the $6000 level, we had anticipated a huge price move coming up.Looking at the following 4-hour chart, we can see that Bitcoin had found support upon the mentioned 4-hour MA-50 line (~$5700, marked pink), and following another Fed’s announcement, broke above the short-term descending trend-line.In the same price analysis from two days ago, we also mentioned the bullish divergence on the 4-hour chart, which might have proved an accumulation...

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Bitcoin Price Analysis: Bitcoin Steady Above $6,000, But Is It The Calm Before The Storm?

Over the past three days, we saw Bitcoin breaking above the $6,000 milestone, and even succeeding in breaking the next significant resistance at $6400 for a few hours, including toping above $7K on some exchanges.However, Bitcoin got quickly rejected and retraced back to the $6K range, yes, the same price range from the second half of 2018.Just as a side note, the $7140 top that was reached on Bitstamp is not a coincidence: Looking at the following daily chart, we can see the Golden Fibonacci...

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Bitcoin Soars 18% and Breaks $6000: Is The 2020 Bottom Confirmed? BTC Price Analysis & Overview

Is this the day we had been waiting for? Bitcoin completed an 18% price surge over the past 24 hours. But not just that.Yesterday, we mentioned that despite the massive crash in the global markets, Bitcoin’s showing stability above the $5,000 price mark. That stability of yesterday, was the first time after weeks, that Bitcoin was not fully correlated with the stock markets.Today we received another confirmation of this trend: While the S&P 500 had seen a slight 0.5% increase, Bitcoin...

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Bitcoin Price Analysis: Is This The Day Bitcoin Had Been Waiting For 11 Years?

Quick recap: for the past few weeks, Bitcoin had been following the crashing global markets. While the S&P 500 and Nasdaq lost more than 30% over the past month, Bitcoin followed them but with a little bit of leverage.The primary cryptocurrency is now trading at a 50% discount from the highs of mid-February, when it was trading above the $10,000 mark.Many crypto enthusiasts waited for this moment. Bitcoin was born after the most recent significant financial crisis, the one of 2008....

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Bitcoin Price Analysis: The War For $5,000 Continues, What Will Come First – $4K or $6K?

Following the coronavirus health crisis, the global stock markets collapsing one after another. Despite the Fed’s emergency steps, the markets continue to tumble.The EU markets are recording over 10% declines, while Wall Street is reaching the low level of December 2018. 13-Month ROI had demolished in 30 days.Bitcoin is not left behind. After the Fed’s decision yesterday, Bitcoin responded with a quick surge of 14%. However, the party didn’t last long – Just an hour after, when Wall Street...

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