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...Read More
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...Read More
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...Read More
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...Read More
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....Read More
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;...Read More
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...Read More
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...Read More
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,...Read More
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...Read More
The BTC consolidation continues: for the past four days, Bitcoin’s price range had been shrunk to $150 only. From above $7300, from below $7150. This is coming after almost two weeks, since December began, of nearly zero volatility. The only people who benefit from such a market are those who run crypto margin exchanges. However,...Read More
We are almost over half of December, but so far, the last month of the year is very disappointing the Bitcoin traders. Despite the bearish signs that Bitcoin is showing, the trading action is dull, followed by a relatively low amount of trading volume. Things are progressing very slowly. In matters of the price, yes,...Read More
Our previous price analysis had identified a tight range in which Bitcoin is trading inside. Over the past hours, this range is seemingly cracking down, to the downside. For the past five days, Bitcoin was trading between $7300 to $7600. Despite a fake-out that reached the mentioned resistance area of $7700, Bitcoin was trading inside...Read More
The last days saw Bitcoin trading under a tight range of $300, between $7300 and $7600. The good news is that Bitcoin is finally trading above the confluence zone of $7300 – $7400, along with the 4-hour MA-50, which was mentioned here more than once. Besides, the RSI is showing strength due to the negative...Read More
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...Read More
Since our previous analysis, Bitcoin had succeeded in breaking up the 50-days moving average zone, straight into our next mentioned support area at $10,800, along with the crucial descending trend-line (marked with yellow on the following daily chart). From there, we saw Bitcoin taking a break to recalculate its next destination: Whether it’s finally going...Read More
Momentum is changing so quickly in the crypto markets. If four days ago everyone saw Bitcoin price getting below the $9,000 level for the first time since June, now the bulls are back. As mentioned here on our previous analysis, Bitcoin had shown odd calmness, and we anticipated a coming-up huge move. However, no one...Read More
After three days of no significant price movements, Bitcoin is now planning its next leg. As we know this market, Bitcoin doesn’t like being low in volatility, and this might be the preparation period of another move that can take place any moment. Most indicators are showing bearish; however, Bitcoin likes to go with the...Read More
Every time Bitcoin is trading under tight range, together with a decreasing amount of volume, there will be a huge price move coming up shortly after. During the previous month, we have mentioned the 4-hour triangle formation developing and that we were expecting the breakout (either direction) to take place very soon since the apex...Read More
The tight range continues to play: Over the past two days, since our recent price analysis, we saw Bitcoin keeping up the $10,000 support alive. More than that, Bitcoin didn’t break down the mentioned triangle formation. During the recent hours, we saw Bitcoin spiking up to a 5-day high – $10,805 on Bitmex (while on...Read More
Over the past ten days of trading, we had seen Bitcoin trading inside a very tight price range between ~$9400 and ~$10,800 (which contains the 50-days moving average line, marked purple on the following chart). The above range is also forming a horizontal triangle pattern where its apex is getting very close – it seems...Read More
Bitcoin has been on a rollercoaster over the past few days, after rebounding at $10,000 only to reach the resistance at $10,800 and rolling over to return down to $10,000, where it traders now. Looking at the Bitcoin weekly chart, we can see that the coin might be forming a descending triangle pattern. The interesting thing...Read More
The short-term action continues going back and forth inside the marked horizontal triangle on the following 4-hour chart. After two days of consolidation below the triangle’s descending trend-line with zero success to break through, Bitcoin plunges $800 to set $10,082 as its current daily low. As mentioned here on our previous analysis, the $10,800 area...Read More
Over the past four days and since producing the Doji candle on the 4-hour chart, we have seen Bitcoin going through a beautiful bullish setting of higher lows. As mentioned in our previous analysis, Bitcoin found decent support by the mid-term ascending trend-line (marked yellow) from below. This setting was ‘roofed’ by the 200 moving...Read More
In our last Bitcoin price analysis, we mentioned the ‘last hope’ for Bitcoin. Good news for the bulls: the Doji candle on the 4-hour chart maintained the price above the significant 4-hour ascending trend-line (marked in bold yellow). In the following day, we saw Bitcoin retesting the line, again getting supported upon the significant news...Read More
