Tag Archives: BTC Analysis

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...

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...