Category: Bitcoin Analysis

Bitcoin Attempts Fresh Increase, Why Upsides Remain Capped

boss

Bitcoin attempted a fresh increase above $39,500 against the US Dollar. BTC is still facing a strong resistance near $39,800 and $40,000. Bitcoin spiked above $39,500, but it failed to clear the $40,000 resistance zone. The price is trading near $39,000 and the 100 hourly simple moving average. There was a break above a key bearish trend line with resistance near $38,750 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair must clear the $39,800 and $40,000 resistance levels to start a fresh increase. Bitcoin…

Bitcoin Faces Uphill Task, Why BTC Bears Are Still In Control

boss

Bitcoin remained in a bearish zone below $39,000 against the US Dollar. BTC could recover only if it manages to clear the $40,000 resistance zone. Bitcoin is showing bearish signs below the $39,000 and $40,000 resistance levels. The price is trading below $39,000 and the 100 hourly simple moving average. There is a key triangle pattern forming with resistance near $39,000 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair might start a recovery wave if there is a clear move above $39,000 and $40,000.…

The Bullish Scenario That Puts Bitcoin At $165K Before $22K

boss

Bitcoin is still quite bullish over the long term despite all of the bearish short-term trends being recorded recently. It is still one of the most promising investment options in the space with growth speculated to skyrocket in the next five years. Through all of the recent downtrend, there have been widespread concerns that the cryptocurrency has officially entered another stretched-out bear market. Not everyone subscribes to this school of thought, however. The current bearish climate does nothing to deter bulls as there are still various scenarios that put bitcoin…

Bitcoin Fails To Establish Significant Demand, Why Price Could Fall To $20K

boss

Bitcoin lost its footing above $40,000 once more over the weekend and has been on a downward trend since. This is not a shocking move given that the last two moves into the $40-$44K range had ended the same way. However, this third time has come with a much lower momentum, raising concerns regarding the ability of the digital asset to establish any semblance of support below this level. No Demand Established A fall below $40K shortly after breaching it is not unheard of in the history of bitcoin. In…

Bitcoin Recovery Halts, Technicals Suggest Fresh Decline To $36K

boss

Bitcoin is struggling to recover above the $38,400 resistance zone against the US Dollar. BTC could resume decline if it stays below the $38,500 level. Bitcoin is currently facing resistance near the $38,400 and $38,500 levels. The price is trading below $38,500 and the 100 hourly simple moving average. There is a crucial bearish trend line forming with resistance near $38,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could start a fresh decline if there is no clear move above $38,500. Bitcoin Price…

Sellers In Control, Why Bitcoin Could Revisit $34K

boss

Bitcoin is still on a decline struggling below the $40K mark. This had been a significant hold point for the bulls but once the bears had successfully dragged the digital asset below this critical support point, it has been a long way down since then. While a reversal is likely at this point, it is also possible that the digital asset continues to record more decline, leading to as low as $34K. Why Bitcoin Could Reach $34K A new report from Delphi Digital outlines a possible trend for bitcoin. The…

Here’s the outlook for bitcoin as geopolitical tensions heat up and interest rates rise

boss

Artur Widak | NurPhoto | Getty Images The bitcoin narrative could be tested this week as investors monitor tense developments between Ukraine and Russia and weigh the possibility of the Federal Reserve hiking interest rates by 50 basis points, or 0.5 percentage point, in March. The largest cryptocurrency by market capital currency has long been regarded by early investors and enthusiasts as a safe haven asset – one that ideally could offset risk in investors’ portfolios and limit exposure to negative shocks. However, in recent months bitcoin has has been…