Tag Archives: BTC Analysis

BitcoinBitcoin is up by a small 2% this week after suffering a major setback when it dropped by 5.5% in today’s trading session. The cryptocurrency had surged from the $6,800 level last Friday to reach as high as $6,400 at the start of this week.However, in today’s trading, Bitcoin fell by over 5% to drop back into the $6,800 support level. It also found added support at the previous rising trend line.If Bitcoin drops back beneath $6,800, additional support lies at $6,600, $6,400, $6,200, and...

On our latest price analysis from yesterday, we stated that the Bitcoin price is about to make its next major move. A few hours later, and the anticipated move played out.Unfortunately to the bulls, Bitcoin broke down the 3-day stability between the range of $7200 – $7400. As of writing these lines, the primary cryptocurrency is trading below $7000, recording its current daily low roughly above $6850.Over the past days, Bitcoin couldn’t break above the pink line below, which is the 50-days...

So far, April had been a blessing for Bitcoin. The primary cryptocurrency was trading slightly around the $6,000 mark on April 1st, but since then, there was only one way.There is only one disadvantage in this short-term positive trend: Bitcoin price is back to the recent positive correlation with the global stock markets. Satoshi’s plan was different – if Bitcoin wants to succeed in the long-term, it needs to stand by itself, uncorrelated to equity markets.Two days ago, on Tuesday, the...

Quick recap: March 12, 2020, following the global markets’ crash, Bitcoin experiencing its worst day ever, while clearing over 50% of its value.Some blamed the BitMEX liquidation system; some thought Bitcoin was going to zero. The daily high, which was recorded on that day, was $7969 on Bitstamp, while the daily low was $3850. On BitMEX the low was even lower – around $3,600.Fast forward. Following a healthy higher-lows trajectory along the recovery way, and as mentioned in our previous price...

The month of April so far seems bullish for Bitcoin. After starting the month at around $6200, the Bitcoin price quickly elevated to $6600 (April 1st) and built a ‘baseline’ around this price zone.At the same time, $6800 provided a tough resistance from the other side, and most of the time, Bitcoin was trading between the price range of $6600 – $6800, as we mentioned here before.As we can see, the $6600 had been providing decent support for Bitcoin over the past week and could defend every...

The past days were promising for Bitcoin: After finally succeeding in breaking the $6800 resistance mark, Bitcoin price had seen a decent run of $400 to the reach $7236 as the highest price since the March 12 collapse.As mentioned in our previous price analysis, while Bitcoin was trading around $6700: “we already identify bullish divergence, which can fuel the next move above.”The overall setting looks bullish on the 4-hour chart, going through healthy higher-lows trajectory. However, the...

BitcoinBitcoin managed to increase by around 8% over the past 7-days of trading as the cryptocurrency climbed above crucial resistance at $6,800 today. Bitcoin had actually been trading within an ascending triangle and bounced from the lower boundary of this pattern 5-days ago, which allowed it to break above the upper boundary at $6,800.Note: Today’s candle has still not closed, so it is not fully confirmed if this is a real breakout.From above, the first level of resistance lies at $7,000....

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...

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...

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...