Thursday , January 27 2022
Home / Tag Archives: BTC Analysis (page 8)

Tag Archives: BTC Analysis

BTC Retraces as Short-Term Selling Pressure Continues: Was $50k a Local Top? (Bitcoin Price Analysis)

Bitcoin managed to daily close back above $48.1k, but met with selling pressure throughout the day, hitting an intraday low of $46.3k, according to Bitstamp. Short-term technicals have turned cautiously bearish, especially with bearish divergence forming on the daily chart and Bitcoin failing to stay above $50k. The primary cryptocurrency remains in a tight spot as the price successfully reclaimed the 21-week and 200-day moving average recently, but is still in the validation...

Read More »

BTC Forms Another Higher-High, Are Bulls Aiming For $50K Weekend Breakout? (Bitcoin Price Analysis)

The bitcoin price has shown impressive strength lately, outperforming global stock markets, despite a risk-off environment and a rising U.S. dollar. On Friday, BTC retested the local highs at $48.1k and managed to make a solid 4-hour close above resistance, leading to a robust daily close at $49.3k. Aggregate spot exchanges volume came in at $7.56 billion, above the 14-day average and the volume on risk-off days. For the past week, 4-hour bearish divergence and realized...

Read More »

BTC Struggles Below Critical 200MA as Global Markets Risk Off: Where Is Next Support? (Bitcoin Price Analysis)

BTC made another attempt to reclaim the 200-day moving average but was met with selling pressure as global stocks fell again amid fear of the Federal Reserve tapering asset purchases. This may be a near-term headwind for the largest cryptocurrency, but the overall fundamentals, on-chain data, technicals, and momentum remain strong. Chart by TradingViewAs we covered last week, there has been a bearish divergence forming on the 4-hour and daily chart, a near-term warning of a...

Read More »

Bitcoin Price Analysis: Global Risk-Off Drives BTC Below the Critical 200MA, Where is it Heading Next?

BTC’s weekly close above the 21-week and 200-day moving averages flashed the largest technical buy signal since April 2020, marking a major step forward for potential bull market continuation. Although this is a very bullish signal for BTC, it is important to see follow-through higher in the weeks ahead to validate it. Chart by TradingViewThere has been a bearish divergence forming on the 4-hour and daily BTC chart for over a week, signaling near-term caution on the...

Read More »

Bitcoin Flashes Largest Technical Buy Signal Since April 2020 – More Upside Ahead? (BTC Price Analysis)

After a weekend with wild swings and liquidations, BTC bulls managed to push the price higher, making the first weekly close above the 21-week and 200-day moving average. Technical analysts consider this a major buy signal, as it has led to significant rallies for bitcoin. Chart by TradingViewThe last time this occurred was April 2020, right after the March COVID-19 crash that sent all risk assets plummeting. After reclaiming the 21-week and 200-day moving average, BTC...

Read More »

Bitcoin Price Analysis: BTC Eyes Today’s Critical Weekly Close As Volatility Continues

Yesterday’s BTC price action shook traders throughout the day with rounds of short and long liquidations. Bitcoin’s price managed to hold the 200-day moving average at $45.3k as support, making an intra-day wick to $46k, and pushing higher into yesterday’s daily close at $47.1k Chart by TradingView So far, today’s price action appears similar to yesterday’s wild swings. It’s another low-volume pullback that liquidated longs. This time, BTC nearly touched critical support at...

Read More »

Bitcoin’s Upcoming Weekly Close Can Trigger The Most Bullish Buy Signal Since 2020 (BTC Price Analysis)

Recent BTC price action intensified after BTC closed above the 200-day moving average line on the daily time-frame, but then closed back below this significant key level on Thursday. However, things turned bullish, as BTC price pulled back to near-term support, backtested the downtrend line at $43.8k, successfully held the support level, and then printed a bullish engulfing candle the next day to reclaim the 200-day moving average, starting the current weekend by trading on a...

Read More »

Bitcoin Price Analysis: After Correcting, BTC Faces the Critical 200-MA Again

The bearish divergence appearing on the BTC 4-hour chart for the past week managed to form a local top at $46.7k. BTC fell to a near-term low at $43.8k, finding support just above a key downtrend. Chart by TradingViewAs we reported earlier, the recent dip below the 200-day moving average puts BTC in a tight spot as it is important to see a strong weekly close above that level. Making a weekly close above it, alongside the 21-week moving average, will flash a very bullish...

Read More »

Bitcoin Price Analysis: BTC Closes Above Crucial 200-Day MA, But is the Breakout Confirmed?

After an initial rejection at the 200-day moving average, BTC staged another attempt to break out and managed to successfully make a daily close above the crucial line. The daily close at $46.2k above the 200MA and a key downtrend line can be seen as a very bullish technical buy signal. Chart by TradingViewIt is important for BTC to hold above this key level and follow through higher in the next few weeks to validate the buy signal. A daily close above the 200-day moving...

Read More »

Bitcoin Long-Term Buy Indicator Just Flashed as BTC Faces Critical Resistance (Price Analysis)

BTC has continued to push up with impressive spot volume hitting an intraday high of $45.3k even during weekend trading. The cryptocurrency is now testing one of the most critical levels of resistance at the 200-day moving average. Successfully reclaiming this level will trigger a significant buy signal in technicals, likely encouraging large momentum traders and other market participants to enter the market, further adding to buying pressure in an already supply exhausted...

Read More »