Tag Archives: BTC Analysis

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...

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...