Bitcoin dropped to around $8,300 after a few days of trading at $8,600, likely with more room to drop as it looks to find support. If bulls fail to hold at this level, key short-term supports are seen at 8,000 and 7,800. If this is mere overselling of the recent bounce, then we could see a push back to 8,600, where the 10-day MA and EMA are at. Loo...
Bitcoin was able to bounce near $8,400+ level. In the daily, it is evident that there is support near the 10 EMA. Meanwhile, price maintains its sideways structure and is looking to retest its resistance around $9,100. A break of the $9,100 resistance is a possible confirmation of another swing high. Otherwise, price is likely to head down bel...
Bitcoin remains sideways after dropping around 8% yesterday. In the daily, the 10 EMA remains intact and still acts as a trail support around 8,400 level while resistance is around 9,100. Meanwhile, the intraday chart (4H) is looking to test the 50 MA support. If price manages to be break below 50 MA in the 4H, price is likely to go below 8,400 lev...
Bitcoin was able to reach an intraday high of around $8,900 today. Shortly after, it was followed by a pullback. In the daily, the next possible support is around $8,200 which is also a possible MA trail (should the price hold). In the 4H, 10 EMA is still intact and is looking for a possible bounce. Nothing conclusive yet, but price action is ...
BTC managed to find support around $8,000 after a tight consolidation for a few days. Price action is interesting as momentum picked up fast and is looking to retest previous resistances. A continuation is likely if BTC gets a good close in the daily. Next possible resistance is around $9,000+. Invalidation - if price fails to hold the 50 MA in the...
Bitcoin rocketed up today as it broke past $8,000. Price has reached an intraday high (as of the current 4H candle) of around $8,455. In the daily, support level is around 6,800 - 6,400. In the 4H, price shows a clear structure and it's trailing with the 10 EMA as it creates consecutive higher lows. Retracement is likely to happen in...
New year off to a good start! Is it a sign of things to come? Bitcoin broke out of the range and price is currently sitting above resistance of the previous range at $7,800+. Moving average crossover has also materialized. In the daily, support levels remain at 6,800 - 6,400 while resistance now sits at 8,000. If price is able to pick up ...
In the daily, BTC broke and closed below the $7,000 immediate support level yesterday. With this recent price action, selling pressure is still present and a follow through of the break down is possible if buyers are not able to hold bids. Next target is around $6,500 for support. Global market cap is at $187B, while BTC's market cap is at $12...
Bitcoin is still floating around the $7,000 level. In the weekly chart, price has already crossed below the 50 MA. Possible scenarios in the weekly: a) full on red candle which could possibly indicate continued selling pressure; may push the price down back to 6,000+ level.b) current price action is a possible overshoot and price to retest 8,0...
Price is hovering near the immediate support level around 7,100 - 7,000 in the daily. If the daily makes a weak close, it is likely for BTC to hit below 7,000 again as it appears to be in a downward channel. Otherwise, support is respected and the current range remains; resistance around 7,500 - 7,600. Intraday chart (4H) also shows an interesting ...
Bitcoin (BTC) tried and failed to break resistance yesterday at 7,500 - 7,800 and has since remained flat, trading at around 7,300. Overall sentiment remains bearish, with the possibility of hitting lower highs at around 7,600 - 7,700. If bears are able to defend that level, we could see a drop back down to around 6,900 - 6,600. Markets will only r...
Bitcoin remains in a downtrend in the daily and has formed a lower high around 7,800 as resistance. As it continues to move down, the next support to look for in the daily is around $6,800 - $6,500 level. Moving on to the intraday chart (4H), a wide range has formed with the same levels plotted in the daily chart. The current price action look...
The last weekly candle closed on a bounce but didn't show any significant move. For the current weekly candle, BTC opened weak. If price isn't able to reach or retrace around $7,500, it can possibly break the 50 MA and head lower to look for next support. In the daily chart, BTC found support around $6,500 and resistance around $7,800. Possible sce...
‚ÄčAs this bearish scenario continues, BTC has formed a range in the daily chart with support around $6,500 and resistance around $7,300. In line with this bearish scenario, price is now below the 10 and 50 moving averages and there's also a possible lower high with reference to the 10 EMA as a trail for resistance in the daily chart. In the intraday...
The selloff has settled for now as BTC bounced and found support around 6,500 and its current immediate resistance is around 7,300. If price is able to break and hold above this current range, BTC might test towards the 7,500 - 8,000 level. Otherwise, tread in the market with caution as this could be a possible new lower high before another leg dow...
Bitcoin has broke down the $7,300 support in the weekly and daily chart. In the weekly chart, BTC is showing a clean structure as it breaks the 50 MA since its previous huge rally last May. Next key support for BTC is around $5,800 - $6,000. In the daily chart, there are still no signs of strength with huge selling volume and red candles. If price ...
BTC broke below the 50 MA in the daily chart which is an indication that BTC is moving closer to a bearish scenario; if price action doesn't pick up with decent volume from buyers. The current resistance would now be around 8,500. If momentum picks up, this break of 50 MA would be a possible overshoot for a bounce. Otherwise, BTC is likely to head ...
BTC continues to show weakness and an MA crossover has formed in the daily chart, which could tell that there's more room to go down. With this price action, intraday bounces for lower highs are likely to happen (spot the 4H chart for price structure). If BTC maintains its course, levels would remain the same with $7,800 - $8,000 as the next target...
Bitcoin remains sideways in the daily chart. Meanwhile the intraday chart saw some action as price tried to reach around $9,500 but was rejected. Support is around $8,800 - $9,000 and resistance is around $10,000 - $10,500. Global market cap is at $250B, while BTC's market cap is at $168B. * A study by University of Texas professor John G...
Bitcoin was able to close the weekly candle (Oct 21) with a pump from a low of $7,300 to a high of $10,370. The 3rd largest single day move in Bitcoin's history, fueled by the Chinese President announcing support for Blockchain initiatives. The last time it moved this way, Bitcoin was worth less than $10. The move was not obvious in the d...