Tag Archives: BTC Analysis

Bitcoin starts the week following a bullish weekend. Just as anticipated, Bitcoin broke above the $7600 to a new price high since the devastating collapse on March 12. As of writing these lines, Bitcoin marks $7800 (Bitstamp) as the new high.Following our previous BTC analysis from Saturday, we can see that Bitcoin broke above the 4-hour chart’s marked triangle (at $7600) and quickly reached the prior high of $7750, and even created a fresh high.The bullish momentum is seeing back-winds from...

What a recovery. Bitcoin is only a few steps away from a full recovery since the March 12 collapse, which took place only six weeks ago and saw Bitcoin plunging to $3600 (BitMEX).The primary cryptocurrency had recently broken above at $7230. On the following 4-hour chart you can notice the mid-term descending trend-line’s breakout.Following the break, the 4-hour candle had wicked at $7750 (!), which was our highest mentioned target on our most recent price analysis.Despite the wick, we can...

BitcoinBitcoin went through a 6.23% price hike over the past seven days of trading as the cryptocurrency managed to push to a fresh April high at $7,700. The coin met resistance at $7,200 last week, which caused it to drop beneath $7,000 at the start of this week. It went on to find support at $6,800, where it rebounded.On the rebound, Bitcoin took out resistance at $7,000, $7,200, and $7,400 as it spiked as high as $7,780. It since dropped to the current $7,500 level, where it faces...

Over the past days, after getting rejected at the $7300 price level, Bitcoin followed the global markets 2-day drop and fell straight to the $6800 support.Looking at the Bitcoin chart, we can see that the latter is also a significant 61.8% Golden Fibonacci level, as mentioned in our most recent BTC price analysis.Bitcoin nicely held that support, along with the 50-days moving average line – marked pink on the following daily chart. Yesterday, following the deep-green on Wall Street, Bitcoin...

Over the past days since Thursday, we saw Bitcoin safely trading about the $7000 mark. During last Thursday, Bitcoin surged to over $7K, breaking above the critical 50-days moving average line (marked pink on the following daily chart). Since then, and together with the bullish wind form Wall Street (3% gains on Friday), Bitcoin topped at $7306 (Bitstamp) as of yesterday. Over the past hours, Bitcoin is having a small correction below $7200. However, the critical area from below is still the...

Bitcoin Bitcoin saw a small 2.6% price increase from where it was trading seven days ago. However, it had dropped substantially throughout the week. The cryptocurrency fell beneath support at the rising trend line to find additional support at the $6,447 level (short term .618 Fib Retracement). From here, Bitcoin rebounded yesterday to climb back above the $7,000 level where it currently trades. Looking ahead, the first level of resistance lies at $7,200 (bearish .5 Fib Retracement). Above...

That was a crazy day for the price of Bitcoin. Some would say it’s an ordinary day, but as we wrote here in yesterday’s price analysis, after sideways action in a tight range, the primary cryptocurrency had exploded. After trading for the last few days between $6800 – $7000, it first started with a deep below the critical $6600 support, whereas the daily low was around $6472 (Bitstamp), which is the next-mentioned support level we had stated here yesterday. But it was only a quick glitch...

Since the coronavirus crisis had started, in the second week of March, we mentioned the obvious correlation between Bitcoin price and the global markets.Since the crisis started, the lowest point of Bitcoin was reached together with the S&P 500’s low, and the impressive correction can be seen on both assets’ charts.However, unlike the S&P 500, which reached a new April high following Tuesday’s 4% rally, and Gold’s 8-year high, Bitcoin barely moved. Is it a bearish sign? It could...

After losing support above the $7,000 price benchmark, Bitcoin was trading steadily around the $6800 throughout the long weekend – including Good Friday, which took place last Friday.On our most recent BTC analysis from yesterday, we had stated that a price movement is imminent once the new week starts following the futures on Wall Street. Shortly after, Bitcoin initiated a decent move to retest the significant support at $7200, together with the 50-days moving average line (marked pink on...

On our most recent BTC price analysis, following Friday’s plunge to the $6800 area, we mentioned that Bitcoin reached a decision point.Both the price encountered a substantial support area, together with the daily RSI indicator, which reached precisely the 50 level, which is said to be the distinction between a bear and a bull market, or in other words – a neutral market.Since Friday, Bitcoin was trading inside the tight range of $6800 – $6950 (despite a small glitch to $6750). It’s not a...