Tag Archives: BTCanalysis

The past weekend was crazy even for the most experienced crypto traders, who couldn’t remember when was the last time they saw a 42% change in the price of Bitcoin in under 24 hours took place.Since then, Bitcoin’s raging volatility had been declining as the weekdays passed, and now, precisely a week since the colossal $4,000 price surge, it looks like the next move is a matter of hours, maybe 1-2 days.At least one sign is pointing bullish – Bitcoin kept above the significant 200-days moving...

Since reaching $9,950 three days ago, Bitcoin was forming a dangerous bearish triangle on the 4-hour chart, as could be seen on the following 4-hour’s.Bearish triangles usually tend to break to the downside. However, Bitcoin just broke above, followed by a massive $500 surge (as of writing these lines) from the current daily bottom around $8,950 (Bistamp).Once again, the majority proved to be wrong, following the recent bearish sentiment among the crypto traders. As of now, Bitcoin looks...

Following its highest daily price increase since 2011 three days ago, Bitcoin made some retracement to the $8,900 price area, before forming another healthy higher low, as of yesterday.Looking on the attached 4-hour chart, Bitcoin is ‘locked’ between three trend lines, in what looks like final preparations for another huge move.Overall, Bitcoin looks bullish, forming higher-lows trajectory, as can be seen on the 4-hour chart. Added to the above, Bitcoin is trading above the significant...

After a weekend full of price action, there is no doubt that the Bulls got their control of the market once again.The recent week saw Bitcoin breaking down a mid-term triangle (can be seen on the following charts), producing a massive move to the downside, and finding support on a level that had seen by many as critical support. That was the 61.8% Golden Fibonacci, around the $7200 area.Bitcoin didn’t consolidate for much time, until a huge candle cleared the supply and sent Bitcoin all the...

Following yesterday’s analysis, just a matter of hours, Bitcoin couldn’t hold, and the results were devastating.After trading sideways for almost a month, Bitcoin broke down the ‘neckline’ of the Head and Shoulders pattern that was identified here yesterday, followed by a huge red candle of more than $600. As of writing this, the low of the past 24 hours lies at $7300 (BitStamp). Bitcoin had lost $10,000,000,000 from its market cap since yesterday.Technical analysis is, for sure, not science....

Over the past two days and following the nice $400 price jump, Bitcoin couldn’t gain enough momentum and failed in breaking its next significant level, as stated in our previous analysis, precisely at $8400.This resulted in a devastating plunge below the $8000 level. Straight to our mentioned $7920 level (remember this from last week’s reports?). So basically, the coin is still ‘stuck’ at the same range around the $8000 mark. But now, there is another threat.A forming Head and Shoulders...

Just as expected, Bitcoin had produced its move. Just as we said in our recent analysis: “Unlike the crypto community on twitter, suggesting Bitcoin to $6K, in my opinion, the direction isn’t clear yet.”Most of the traders lose money over time. Hence, they take the wrong decisions guessing the next direction of the market. This was another classic example, as Bitcoin price broke to the bullish side following reaching the end of the 4-hour short-term triangle’s pattern.Does it mean we will see...

Bitcoin price over the past days isn’t the best show in town. The cryptocurrency had been boring, trading under a tight range above and below the $8000 mark. As of now, the coin’s price is around the same levels of three days ago.A couple of signs are suggesting a vast move coming up: Bitcoin is coming to a decision point on the horizontal triangle being built in the mid-term.Bitcoin is forming a short-term triangle (can be seen on the following charts), where its apex takes place in the next...

Following very calm and steady trading days, where Bitcoin couldn’t overcome the significant 200-days moving average line (marked light green on the attached daily chart), the recent hours saw Bitcoin breaking down below $8000 for the first time in the past ten days.Many see the market bearish as long as Bitcoin is trading below the mentioned MA-200 (currently around $8800). After several failures trying to break back above the moving average line, Bitcoin price had gone away from the area,...

On the recent Bitcoin price analysis, we had mentioned how critical is the 200-days moving average line for Bitcoin.Bitcoin couldn’t break-out to finally close above the line, which is seen by many traders as the boundary between Bear and Bull market conditions. Two days ago, we got another proof for this, as the breakout candle reaching $8,800 quickly turned back into a false one. Bitcoin Bears pushed the coin down to $8200 in what seems like another well planned price move.Since then, and...