Tag Archives: BTC Analysis

Over the past two days, Bitcoin (BTC) price maintained the same $9200 – $9500 trading area that followed its price action for quite some time.Bitcoin is known for its volatility and does not tend to stay at one place for long, or trade at a tight range of 3-4% for days already.As we can see on the following 4-hour chart, the Bitcoin price is forming a giant symmetrical triangle for almost a month. This triangle apex is expected sometime in the next week; however, a breakout can occur at any...

Over the past days, Bitcoin price was mainly trading around the $9400 mark, following the MA-50 pink line of both the attached 4-hour chart and the daily.This dull sideways action had started a week ago, and despite a little glitch below $9200, we can say that the trading range had been $9200 – $9500, which is quite stable for a currency like Bitcoin.What’s Next?As history taught us, Bitcoin does not like staying at one spot for a long while. We do anticipate a wild move to take place,...

Quick recap: Last Thursday saw another failed attempt to break the $10,000 mark. Shortly after, followed by the fatal drops of the global markets, Bitcoin found its value recording a daily low near $9K, almost $1000 intraday price move.This is not what the Bitcoin bulls prayed for: Together with the drop, was the idea of the positive correlation between Bitcoin and the markets.That correlation faded away over the past months, but as we could see, when heavy investors are selling off (Wall...

BitcoinBitcoin saw a 3% decrease over the last week of trading as it drops into the $9,445 level. The coin started the week battling the $9,815 level as it proceeded higher to reach $10,000. Unfortunately, BTC was unable to capitalize above $10,000 and dropped by a steep 7% yesterday.Luckily, it found support at a rising trend line, which has kept the bullish trend intact for now.Looking ahead, if the buyers push higher, resistance lies at $9,815 and $10,000. Above this, added resistance is...

Recap of June 11, 2020: Bitcoin price touched nearly $10K as the daily high, and just a few hours later, the price plunged to almost $9K ($9078 on Bitstamp) as the daily low.In our previous price analysis reports from the past days, we anticipated a huge move. This is from yesterday’s analysis: “Bitcoin’s mid-term symmetrical triangle is coming to its apex, and a decision is soon to be made.”As Bitcoin couldn’t breach the $10,000 for maybe the sixth attempt since May 7, and together with the...

The Nasdaq Composite reached an ATH today, propelled mostly by large technology stocks, even while Bitcoin hovered below $10,000.NASDAQ HITS ALL-TIME HIGH!— Donald J. Trump (@realDonaldTrump) June 9, 2020Nasdaq Erases Previous LossesToday, the Nasdaq erased Coronavirus losses to seize a new record with the index led by the likes of Apple, Microsoft, Amazon, Alphabet, Netflix, and Facebook, which have driven a surge of 45% since last March. The Nasdaq Composite hit an all-time high today,...

Yesterday, Bitcoin closed another weekly candle – the first week of June. During the past week, the price had gone through extreme volatility ($9100 – $10,500); however, there is good and bad news following the weekly close.The good news is that the weekly candle ended green while holding the long-term support at the ascending line started forming in January 2015. The weekly low was $9135 on Bitstamp, as seen on the following chart.The bad news is that the weekly candle could not close above...

June started very violently for Bitcoin. On the first day of the month of June, the primary cryptocurrency recorded a 3-month high after touching the $10,500 resistance mark.However, the drop was even quicker, as Bitcoin price saw a free-fall to $9135 on Bitstamp, and even lower on BitMEX exchange.Over the past days, the volatility had decreased, along with the declining amount of trading volume. Keeping in mind also the RSI indicator, which is also indecisive around the 50-neutral area.All...

BitcoinBitcoin may have only seen a small 2.5% price surge over the last week of trading, but it was action-packed. On Monday, it surged from $9,426 and managed to rise as high as $10,430 to re-test the 2020 high.Unfortunately, it was unable to keep itself above $10,000 and dropped lower during the week to land at the $9,426 support. It has since bounced higher as it trades at $9,668.Looking ahead, if the buyers continue, the first level of resistance to overcome lies at $9,815. This is...

This week had been quite volatile, even for Bitcoin. After the primary cryptocurrency broke-up to the 2020 highs near $10.5K, followed by a quicker drop back below the same critical trend-line, BTC is left now at the same levels it was trading at for the majority of the past week.The bottom line is that Bitcoin has hard times dealing with the descending trend-line as can be seen on both charts below – the daily and the 4-hour chart.This trend-line was started forming a month ago when Bitcoin...