Tag Archives: BTCanalysis

Over the past two days, we had seen the price of Bitcoin trading mainly under a very tight range between $8600 and $8700.As a reminder of the recent price action, Bitcoin had gone through a decent rally since starting the new decade.However, right after touching the significant 200-days moving average line (marked light green on the following daily chart), Bitcoin got rejected, plunged more than $700 intraday, and trading safely around the $8600 mark since then.In the micro-level, we can see...

Today we got another reminder that volatility is working both ways.Bitcoin has fabulous times since entering the new decade. However, when we see such a parabolic move to the upside, we can expect volatile moves to the other side, as well.Just yesterday, we mentioned Bitcoin price reaching its first major test – the 200-days moving average line (marked light green on the following chart). Many analysts see this tough resistance as the barrier between Bear and Bull markets.Today, Bitcoin...

Over the past two days, we saw Bitcoin reaching the $9000 zone, quickly getting rejected, and now Bitcoin is once again a touch away from 2020 high.Two bullish signs to keep an eye on is the fact that Bitcoin corrected accurately into the 38.2% Fibonacci retracement level – which is considered a healthy correction of a rising trend. The second fact is the fact that the coin is forming an ascending channel (marked on the following 4-hour chart).On the other hand, this channel can easily...

Since breaking the $8600 resistance two days ago, Bitcoin had continued its surge directly to the upper ascending line, the one that is marked on our following 4-hour chart.It looks like Bitcoin’s rally got a (temp?) ‘roof’ at that ascending trend-line. Why a temp roof? If Bitcoin would like to reach new highs, it’s advisable to do it slowly with corrections and not just a parabolic race (as we had seen during last June).Besides, As shown on the 4-hour chart, the correction we see so far...

Bitcoin just completed a daily surge of more than $400, marking $8580 as its current daily high. Yes, maybe when you’re reading these lines, the king of the cryptocurrencies had continued its way even higher.Three days ago, on our recent price analysis, we had stated clearly that the short-term looks bullish for Bitcoin.The consolidation above the $8000 was exactly what Bitcoin needed to regain forces for the move we just saw over the past hours.Following the parabolic rise of NASDAQ, the...

Bitcoin had seen a grand opening to the new decade, following a decent surge of roughly $1000 in the first days of 2020.After reaching a high of $8400 last Wednesday, Bitcoin had encountered resistance and quickly turned around. However, the coin continues to look healthy and positive, consolidating safely above the $8000 benchmark.Yesterday we saw Bitcoin gearing down towards the $7700 support, along with the crucial mid-term descending trend-line (that was started forming during June 2019,...

Following the first mini-rally of 2020, Bitcoin had quickly reached our mentioned target of $8400 before getting rejected.From there, the cryptocurrency saw a steep drop towards the 38.2% Fibonacci level (~$7850) of the last spike. As of writing these lines, Bitcoin is trading around $7900 – $8000 for the past hours, preparing for its next move.The turning point of Bitcoin is not a coincidence. It happened just as the uncertainty around Iran’s revenge had disappeared, as President Trump was...

Bitcoin likes to do things fast: Following yesterday’s analysis, we see that 2020 is so far very bullish for Bitcoin.In less than seven days, Bitcoin had seen over a 10% increase. Yesterday, we pointed out the ascending channel on the 4-hour chart. Today, Bitcoin had broken up from the channel and quickly reached into the confluence zone at $7700- $7800.Bitcoin had done more than that: Looking on the daily chart, Bitcoin nicely broke out of the most significant trend-line of 2019, the one...

So far, the new decade is in favor of Bitcoin’s Bulls. Following the break-out from two days ago, the price finally managed to get over the $7300 – $7400 resistance area, while setting a new 2-week high at $7600 (Bitstamp), as of writing these lines.While the global stock markets are seeing heavy red, Bitcoin is enjoying the war talks between the US and Iran, following the death of General Soleimani by the US.As can be seen on the following 4-hour chart, over the past days Bitcoin had been...

Over the past days, the first ones of 2020, we received a reminder of the typical behavior of the Bitcoin price.As we pointed out about the trading volume, which was declining through the past week, we did get a considerable price action day (yesterday), recording the highest amount of volume of the past ten days.After breaking down the $7070 support mark, we saw a rapid drop to $6850. As stated before, the area of the next support level. This was maybe enough for Bitcoin, and together with...