Tag Archives: BTCanalysis

The Bitcoin bulls didn’t expect that this is how the new decade would start, but this is Bitcoin, always doing the unexpected.This might also be true regarding the current halving year. The Bitcoin halving event is anticipated to take place somewhere in the middle of May. The majority of the crypto community are eager to see the price “going to the moon,” however, as more traders expect X, then usually Y takes place.One thing we can say for sure is that 2020 going to be another volatile year...

Just a quick update to yesterday’s extended Bitcoin update: Shortly after reaching the significant resistance of the month-old descending trend-line, as of yesterday, Bitcoin got rejected and rapidly lost momentum.Failing to hold the $7400 and breach the December descending trend-line (marked light green on the following daily chart), had sent Bitcoin below the next support level at $7200. As of writing these lines, Bitcoin is trading slightly above $7200.Part of the reason could be the...

There was some good news since our previous weekend price analysis, as Bitcoin returned to retesting the higher descending angle of the bearish triangle.However, yesterday we saw another fake-out when Bitcoin quickly turned down back under the confluence price area.A new weekend starts today, not a regular one since many traders are still on their vacation. The ones that are trading are not many, as the trading volume levels are close to the month’s low.The new week brings the usual Monday...

Over the past three days, despite that most of the traders are off on vacation, we could see a nonsense trading around the $7200 BTC mark.The following daily chart tells the short-term story: throughout the month of December, Bitcoin can’t get over the green resistance line – including the latest tryout two days ago at $7430.From below, despite one fake-out which got quickly corrected, the yellow ascending trend-line is supporting Bitcoin since April 2019. The last attempt of the line took...

From euphoria to depression: The crypto traders thought they are leaving off for Christmas in an optimistic mood; however, Bitcoin had other plans, as of now.Two days ago, following accurately touching the critical resistance level of $7700, which was discussed here many times as the short-term first significant level, the cryptocurrency got poorly rejected.Less than 24 hours, and Bitcoin finds itself seeking support on top of the $7200 horizontal line, along with the mid-term ascending...

The Bitcoin breakout came just hours after our previous price analysis about the fact that BTC is stuck inside a tight range for too long (and it doesn’t like to be in that situation).Those are our words that were written yesterday:“In the micro-level, we can identify a bullish triangle on the 4-hour timeframe; but anything can change. The only thing we predict is a huge move, which is likely to take place in the next 1-2 days.”Bitcoin broke above the bullish triangle at $7200, quickly...

Bitcoin doesn’t like to stay so long at one spot. The more it does remain, the sharper the next move will be.Let’s start from the macro-level: the last Wednesday saw Bitcoin’s huge price move of about a $1000 gain in just 12 hours – surging from below $6500 straight into the $7400 resistance (the marked MA-100 on the 4-hour chart).A price drop followed this major move down to $7000, and then a stabilization inside a tight range, like Bitcoin was used to do in the past month.This time the...

Bitcoin was a down-trend road for the past two weeks, and this is no secret. Yesterday the lowest price since May 2019 was reached once again – roughly around $6500.Once it was reached, it completed a 10-days decline of $1100 or 15%. That was the right place to ask – “Is it a time for a correction,” which was the title of yesterday’s Bitcoin analysis.A few hours later, the (maybe temporary) bottom was marked once again around $6500 and once again, we saw a quick correction back above. The...

So far, the month of December 2019 reminds us of the cruel month of December 2018.Last year it was the capitulation candle to $3122 that was achieved on December 15. This year’s December isn’t disappointing the bears at all: from the monthly high that was reached on Dec 4 at $7770, down to $6530, which is the current low on Bitstamp as of writing these lines.The bearish momentum is all over, and if you were following, we had stated that here in the previous price analysis posts over the past...

After two weeks of consolidation steadily above the $7000, Bitcoin broke below. If you were following the recent price analysis posts here, you would not be surprised.Bitcoin was showing weakness, not being able to overcome the mid-term descending trend-line (shown both on the following 4-hour and 1-day charts).Aside from this, the long positions are mysteriously increasing to their all-time high. This is definitely not a good sign for the bulls, as they are already smelling the long...