Tag Archives: BTC Analysis

Last Thursday, Bitcoin broke out a triangle pattern, the second in the same week, as can be seen on the following 4-hour chart. The breakout initiated an immediate $400 price gain, surpassing the $9000 benchmark level.Over the past two days, after breaking above the $9K mark, we saw Bitcoin trading in a tight range between $9000 and $9200.While Wall Street and the global markets were crashing further 5% over the past two days of trading, Bitcoin successfully disconnected its recent...

Over the past days, we see a positive correlation between Wall Street and Bitcoin. Just a few hours after Wall Street closed its trading day in decent 3-4% gains across all major indexes, the primary cryptocurrency had gone through the same increase.As of writing these lines, Bitcoin price had reached a daily high of nearly $9,000 ($8960 on Bitstamp). This level is also the weekly high from Monday.As of now, Bitcoin is trading slightly below the benchmark level, but safely above the crucial...

Despite the raging volatility of the global markets due to the coronavirus, Bitcoin is acting as a stable coin, and over the past week, we had seen it trading between $8500 and $9000, which is roughly a 5.6% price range.Since the previous analysis from two days ago, Bitcoin had broken above our marked triangle (on the following 4-hour chart), and surged to the next resistance level at $9000, along with the 4-hour’s 50 moving average line (the pink line).There, the primary cryptocurrency got...

Since our previous price analysis two days ago, we saw Bitcoin trading under a tight range between $8500 from below and $8700 from above – which is the 200-days moving average line.As been mentioned in our recent price analysis, the $8500 is considered a critical support area. So far, this support holds nicely over the past three days, whereas the next few hours are likely to decide the upcoming move of Bitcoin’s price. The declining amount of trading volume also supports this thesis.Despite...