Category: Bitcoin Analysis

Bitcoin Price Smashes Record For Highest Weekly Candle Close Ever

Bitcoin price is back at levels from earlier in the year, but has yet to set a new all-time high. Last night’s weekly candle close still came with a new broken record for price: the highest weekly candle close in the cryptocurrency’s history. Will the bullish weekly close lead to new highs? If so, will this be the culmination of the bull run? And if not, does that mean a bear market instead? A new record has been set | Source: BTCUSD on TradingView.com Bitcoin Price Sets New Record For…

Bitcoin Price Just Reversed and $50K Is Imminent, Here’s Why

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Bitcoin price started a steady increase above the $47,000 resistance against the US Dollar. BTC even broke $48,000 and it might continue to rise in the near term. Bitcoin started a steady increase above the $46,000 and $47,000 resistance levels. The price is now trading above $47,000 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $48,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could accelerate higher towards the $50,000 level if it breaks…

Bitcoin Topside Bias Vulnerable If It Continues To Struggle Below $46K

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Bitcoin price is facing hurdles near the $46,000 zone against the US Dollar. BTC could start a major decline if it continues to struggle near the $46,000 zone. Bitcoin is facing a major resistance near $45,600 and $46,200 levels. The price is now trading below $45,500 and the 100 hourly simple moving average. There is a major bearish trend line forming with resistance near $46,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $46,000 resistance zone to start a steady increase…

Bitcoin Stable Above $46K, Why $48K Holds The Key In Near Term

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Bitcoin price is consolidating above the $46,000 zone against the US Dollar. BTC is must clear $47,500 and $48,000 to start a steady increase in the near term. Bitcoin is facing a major resistance near $47,500 and $48,000 levels. The price is still trading well below $48,000 and the 100 hourly simple moving average. There was a break above a connecting bearish trend line with resistance near $46,200 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a decent increase if there is…

The September Curse And How It’s Preparing Bitcoin For Another Rally

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Bitcoin has suffered heavy losses along with most of the crypto market following the flash crash that happened on El Salvador’s “Bitcoin Day”. The digital asset has been trying to recover from this loss since it occurred two days ago on September 7th. Part of the cause of the crash has been attributed to a “buy the rumor, sell the news” event triggered by the adoption of bitcoin by El Salvador. But the charts show another factor that led to the crash. Related Reading | Standard Chartered Takes Bullish Stand On…

How Futures Traders Could See The Bitcoin Selloff Coming

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Part of what is so special about Bitcoin is the fact that is it inclusive to all, and never in the past required the participation of “smart money” and institutional traders. But to become a multi-trillion dollar asset as it is destined to, bigger players had to get involved to take things to the next level. That next level is now here, and retail investors and traders are in the same market along with whales, corporations, and other high wealth individuals. These elite play in their own ball field, complete…

Bitcoin Revisits $50K, Why BTC Could Still Struggle Near $51K

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Bitcoin price started a strong recovery from $53,000 against the US Dollar. BTC tested $50,000 and it could face a strong selling interest near $51K and $52K. Bitcoin started a decent upward move above the $48,000 resistance zone. The price is now trading well above $48,000 and the 100 hourly simple moving average. There was a break above a major contracting triangle with resistance near $47,500 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could climb above $50,000 again, but it is likely to…

It’s Crunch Time For Ongoing Bitcoin Parabola

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Bitcoin price has now had one of its largest pullbacks dollar for dollar in history, putting the entire parabolic uptrend in jeopardy, according to one crypto analyst who has warned the top could be near. The analyst, who has been accurate in the past, claims that it is now “crunch time” for the parabola to prove its strength, or risk the start of a violent breakdown. “Crunch Time” For Bitcoin Parabola, As Uptrend Support Line Is Tested An asset that “goes parabolic” is a rare event, occurring when price action…

Bitcoin Price Recovers, Why BTC Could Struggle Near 100 SMA

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Bitcoin price traded to a new swing low at $43,000 before correcting higher against the US Dollar. BTC is now facing a strong resistance near $47,000 and the 100 hourly SMA. Bitcoin extended its decline below the $45,000 support and tested the $43,000 zone. The price is now recovering higher towards the $47,000 resistance and the 100 hourly simple moving average. There is a key bearish trend line forming with resistance near $48,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must break $47,000…

Why Bitcoin Price Could Extend Its Decline To $41K, 100 SMA Holds The Key

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Bitcoin price started a fresh decline after it failed to clear $52,000 against the US Dollar. BTC is sliding and it remains at a risk of a drop towards $41,000. Bitcoin recovered above $50,000, but it struggled to clear the $52,000 resistance. The price is trading well below $50,000 and the 100 simple moving average (4-hours). There is a key declining channel forming with resistance near $49,220 on the 4-hours chart of the BTC/USD pair (data feed from Kraken). The pair is likely to continue lower towards the $41,000 and…