Tag Archives: BTCanalysis

Over the past three days, and since our previous price analysis, we had seen Bitcoin almost steady, waving between $10,200 to $10,400.A triple-day turnover of only about $200 (roughly 2%) is rare in the recent Bitcoin’s history. Looking at the Bollinger Bands (marked with blue on the following 4-hour chart), they are at their closest level since September 1st. When This kind of setting takes place, it indicates that a sharp price move is likely coming up. In the last time the bands shrunk...

Two days ago, while Bitcoin was attempting to stay above the critical $10,000 mark, we have pointed out two scenarios in the bigger picture:“The bigger picture from below is the crucial support line around $9,400, which is the last barrier before the triangle breaks to the downside. From the top, the triangles’ trend-line sits around the resistance level of $10,300 – $10,400.”, as taken from the previous Bitcoin price analysis.As you could see, the wedge shown on the 4-hour chart had been...

As you probably know, technical analysis is not always right, but it’s correct most of the time. Three days ago while Bitcoin was trading around $10,600, our last analysis title suggested another re-test of the $10,000 level, when everyone was bullish, we saw this leg down coming-up.As you could notice, after getting rejected one more time by the crucial long-term descending yellow trend-line, started forming from the 2019 high at $13,880, Bitcoin plunged passed $10,000, marking the $9,880...

In the last analysis, we had mentioned the crucial descending trend-line, marked with yellow on the following daily chart. This line is ‘preventing’ Bitcoin from discovering new highs since June 26, when Bitcoin reached $13,880 as the 2019 high.The resisting line was tested for the fourth time, and as it seemed like a breakout is knocking, it turned to be a false one – producing a decent red candle on the daily, with a wick above the line. The hit was hard: Bitcoin plunged $700 in a matter of...