Tag Archives: BTC Analysis

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...

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...

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...

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...

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...

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....

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...

Bitcoin has tough days. The primary cryptocurrency had lost 40% of its value over the past four days.The fact that the price of Bitcoin is positively correlated with the global stock markets had been a surprise to many in the crypto community, who waited eagerly to see Bitcoin price exploding amid the emerging coronavirus financial crisis. After all, Bitcoin was born as alternative money following the recent financial crisis of 2008.Back to the price charts: the abnormal behavior that took...

Bitcoin (BTC)Yesterday, the price of Bitcoin crashed by over 40%, following the emerging global market crisis. Before this fatal plunge, Bitcoin showed signs of weakness consolidating around the $8000 mark for three days.Meanwhile, this whole bearish scenario started from a mid-February high of $10,500, which was later confirmed by a bearish head-and-shoulds pattern, which played out around $8500 last week.Unfortunately for Bitcoin, the price has not just dropped to a 4-month low but now...

When Satoshi Nakamoto sat down to write the whitepaper of Bitcoin, he (or she) prepared precisely for today’s coronavirus situation.The idea of Bitcoin was born after the latest devastating real-estate financial of 2008. All experts were eyeing this day. However, over the past weeks, Bitcoin is attaching its value to the global markets. This, instead of branding itself as a real safe-haven asset.Yesterday, following President Trump announcement, including halting the flights to Europe for a...