Category: Bitcoin Analysis

Here are the Key Technical Factors that Could Determine Bitcoin’s Future

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Bitcoin is currently caught within a consolidation phase following its intense decline from highs of $11,200 last week. The cryptocurrency has been drifting lower ever since, but bulls were able to defend against it seeing any serious downside earlier today when they propelled it off of its $10,200 lows. The rebound here was significant and seemed to elucidate some underlying strength amongst the cryptocurrency’s buyers. That being said, it has not been able to find any strong momentum in the near-term, and its outlook remains in limbo as bulls and…

Key Reasons Why Bitcoin Could Nosedive Below $10,000 In Near-Term

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Bitcoin price failed to correct higher and declined further below $10,200 against the US Dollar. BTC remains at a risk of more downsides below the $10,000 support. Bitcoin broke the $10,250 and $10,200 support levels to move further into a bearish zone. The price is now trading below $10,300 and the 100 hourly simple moving average. There was a break below a connecting bullish trend line with support near $10,440 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair is currently correcting higher, but the…

This US Dollar Fractal Predicts Bitcoin Is on the Verge of a Strong Surge

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The common narrative shared over recent months is that Bitcoin is adversely affected by increases in the value of the U.S. dollar. Case in point: when the dollar began to spike in February and March, BTC began to tumble lower, as did the S&P 500 and the price of gold. More recently, when Bitcoin topped in August, the U.S. dollar was in the middle of a dead cat bounce. But over recent days and weeks, the two markets have begun to disconnect. Bitcoin has somewhat flatlined as the U.S. Dollar…

How Bitcoin’s 2020 High Compares To Past Bull Market “Tops”

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Bitcoin price suffered a powerful correction from the 2020 high of $12,400, taking the crypto asset back below $10,000 briefly. After a short-lived dead-cat bounce to $11,200, Bitcoin price is back once again at $10,500 and trying to hold. Although the correction has been steep, the selloff closely resembles the last bull market’s most violent tops. And while sentiment has swiftly shifted bearish, if history repeats, buying even the scariest dips will be incredibly rewarding. Crypto Bull Market Tops Match Current Price Action Despite Bearish Sentiment Shift In a bull…

Bitcoin Could Soon Enter a “Nose Dive” as Gold Loses Key Support Level

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Bitcoin has slipped below crucial support levels after peaking at $11,200 last week. The coin now trades at $10,400 as of this article’s writing, below supports in the $10,500-11,000 range that is so important for BTC. Bitcoin’s drop comes as the price of gold has dropped lower, towards $1,900, then under it. Both assets seem to be moving in tandem due to the strong force the U.S. dollar has on all markets. The U.S. dollar is up from the lows of a few weeks ago as fiscal stimulus has slowed.…

Bitcoin Weekly Momentum Flips Bearish For The First Time Since April

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With Bitcoin holding strong above $10,000, the halving in the past, and months of positive price action, it is hard to not be bullish on the first-ever cryptocurrency. However, a momentum measuring tool has flipped bearish for the first time since April 2020 on weekly timeframes, potentially pointing to $10,000 failing to hold and a deeper correction ahead. Here’s what the technical analysis tool is saying and what has resulted from past bearish crossovers of the MACD. What is The MACD And Why Is It Flipping Bearish Bad For Bitcoin?…

How BTC Held On Exchanges Matches Bitcoin’s Deadliest Drop Yet

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Several signs indicate that Bitcoin is potentially on the brink of a new bull market, and much higher prices are ahead. However, one seemingly bullish sign that investors are preparing for mark up, is actually at the same level as just prior to the collapse to the cryptocurrency’s bottom. Are looks this deceiving, and Bitcoin is about to take a similar plunge once again? Or is this potentially bullish signal the first real indication that the bull run is here? Investors Move BTC Off Of Crypto Exchanges At Hastening Rates…

Bitcoin Dives To Key Support: Here’s Why BTC Could Extend Losses

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Bitcoin price failed to stay above the $10,750 support and declined sharply against the US Dollar. BTC is holding the $10,200 support, but there is a risk of more downsides. Bitcoin is down 5% and it broke the $10,750 and $10,550 support levels. The price is holding the $10,300 region, but it is well below the 100 hourly simple moving average. There is a major contracting triangle forming with resistance near $10,470 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could correct higher, but…

Analysts Fear a Bitcoin Drop Towards the $9,600 CME Gap as Price Plunges

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Bitcoin could soon move towards the crucial CME futures gap at $9,600, formed when the cryptocurrency surged from the $9,000s in late July and early August. The CME futures is closed on the weekends, despite Bitcoin spot markets still trading. This forms natural gaps in the CME’s price action, many of which are filled within a week after they were opened. Related Reading: Ethereum Transaction Fees Surge to All-Time Highs After Uniswap Launch Bitcoin Could Fill the CME Gap Soon: Analysts BItcoin will soon fill the CME gap according to…

Despite 10% Bounce From Lows, Bitcoin Has One Key Level to Cross

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Bitcoin has bounced over 10% from the lows set two weeks ago at around $9,800. The cryptocurrency, though, still has a crucial level to move above to confirm that a full-blown bullish reversal is in the works. Related Reading: Ethereum Transaction Fees Surge to All-Time Highs After Uniswap Launch Bitcoin Needs to Surmount This Pivotal Level to Confirm Upside According to Edward “Teddy” Cleps, a crypto analyst and the founder of Yellow Block, Bitcoin must move above the $11,100 horizontal to confirm that the ongoing correction is a bullish reversal.…