Tag Archives: BTC Analysis

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...

The new month of June brings new vibes to the primary cryptocurrency. After five failed attempts to break the $10,000 resistance level and its descending trend-line during the month of May, it finally happened on the first day of June.Bitcoin price just broke the huge resistance and spiked to reach a high of $10,500 on most exchanges. As of writing these lines, Bitcoin retraced a bit and now trading safely above the $10K benchmark level.The $10,000 was reached on May 7, 2020, just a few days...

Over the past days, the Bitcoin price is seeing only one direction, which is in favor of the Bulls. The coin that was trading for $8600 just five days ago is now aiming to re-target the $10K mark. However, will it be so easy?On our most recent BTC analysis from Friday, we pointed out a critical descending trend-line, which started forming once Bitcoin reached the $10K mark for the first time this month (May 7).On both the 4-hour and the following daily chart, you can see this line marked by...

Since breaking above the $9000 mark on Wednesday, Bitcoin sees only one way. The primary cryptocurrency climbed the resistance stairs and now about to reach a critical resistance trend-line.Bitcoin Bulls Are Back, Until When?As we mentioned here a few days ago, there is no better time to long Bitcoin than when everyone on crypto-twitter is bearish. The majority is almost always wrong in trading.Back to Bitcoin: After an impressive rally and consolidation at the first resistance zone of $9200...

Over the past three days, Bitcoin was trading sideways between $9000 from above and $8650 from below.After getting rejected yesterday at the $9K resistance, along with the descending yellow trend-line as marked on the following 4-hour chart, BTC had dropped down to Sunday’s low around the $8650 support line (as mentioned on our yesterday’s price analysis).However, the support line held firmly, and during the past hours’ Bitcoin started a mini bull-run climbing up and surpassing the $8800.From...

Over the past two days, Bitcoin was trading between the range of $9200 – $9300. As we mentioned here on our previous BTC price analysis, that area had transformed from being stronger support to being even stronger resistance.We mentioned the fact that a failure in breaking above the mentioned area will result in a further drop-down. As we noticed over yesterday, Bitcoin failed, broke down the critical blue ascending trend-line, as can be seen on the following daily chart. The primary crypto...

Following our Thursday price analysis, Bitcoin had lost almost $1000 in one and a half days. This came straight after 3-4 failed attempts to break the $10,000 mark over the past two weeks.When you’re not breaking, and the attempts are losing strength, you will dump hard. This was the bad news; however, the good news is that a long-term ascending trendline saved Bitcoin, as of now.The ascending trendline, marked blue on the following daily chart, was started forming on March 12, 2020, when...

BitcoinBitcoin saw a 4.4% price decline over the past seven days of trading as the coin trades at $9,115. The cryptocurrency was at the $9,815 resistance level for the majority of the week as it continuously failed to close above it. Bitcoin went on to slide lower from there on Wednesday as it dropped into the $9,400 level.Yesterday, Bitcoin continued to drop further as it dipped beneath $9,000 to reach as low as $8,800. Luckily, the buyers regrouped to push the coin back above $9,000 before...

Over the past days, Bitcoin had gone through sideways price action, flirting with the range between $9500 and $9900.The breakout of the $10,000 target is remarkably close. However, it also feels close as well to a massive price dump. Remember, from a technical point of view, the fact that Bitcoin so far fails to break the $10K benchmark level, along with the declining amount of volume means that every tryout becomes weaker.The Golden Cross Is HereA Golden Cross is a long-term bullish signal,...